UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED

MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number   811-4008

Fidelity Investment Trust	(Exact name of registrant as specified in charter)

245 Summer St., Boston, Massachusetts 02210	(Address of principal executive offices)       (Zip code)

Scott C. Goebel, Secretary

245 Summer St.

Boston, Massachusetts  02210

(Name and address of agent for service)

Registrant's telephone number, including area code:	617-563-7000

|Date of fiscal year end:  | October 31    
|------------------------- | --------------
|                          |               
|Date of reporting period: | April 30, 2015

This report on Form N-CSR relates solely to the Registrant's Fidelity International Discovery Fund, Fidelity International Growth Fund, Fidelity International Small Cap Fund, Fidelity International Small Cap Opportunities Fund, and Fidelity International Value Fund (each, a "Fund" and collectively, the "Funds").

Item 1.		Reports to Stockholders

(Fidelity Investment logo)(registered trademark)Fidelity Advisor®

International Growth

Fund - Class A, Class T, Class B 
and Class C

Semiannual Report

April 30, 2015(Fidelity Cover Art)

Class A, Class T,
Class B, and Class C are
classes of Fidelity®
International Growth Fund

---

# Contents

|Shareholder Expense Example | (Click Here) | An example of shareholder expenses.                                                                          
|--------------------------- | ------------ | -------------------------------------------------------------------------------------------------------------
|Investment Changes          | (Click Here) | A summary of major shifts in the fund's investments over the past six months.                                
|Investments                 | (Click Here) | A complete list of the fund's investments with their market values.                                          
|Financial Statements        | (Click Here) | Statements of assets and liabilities, operations, and changes in net assets, as well as financial highlights.
|Notes                       | (Click Here) | Notes to financial statements.                                                                               

To view a fund's proxy voting guidelines and proxy voting record for the 12-month period ended June 30, visit http://www.fidelity.com/proxyvotingresults or visit the Securities and Exchange Commission's (SEC) web site at http://www.sec.gov. You may also call 1-877-208-0098 to request a free copy of the proxy voting guidelines.

Standard & Poor's, S&P and S&P 500 are registered service marks of The McGraw-Hill Companies, Inc. and have been licensed for use by Fidelity Distributors Corporation.

Other third-party marks appearing herein are the property of their respective owners.

All other marks appearing herein are registered or unregistered trademarks or service marks of FMR LLC or an affiliated company. © 2015 FMR LLC. All rights reserved.



This report and the financial statements contained herein are submitted for the general information of the shareholders of the fund. This report is not authorized for distribution to prospective investors in the fund unless preceded or accompanied by an effective prospectus.

A fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-Q. Forms N-Q are available on the SEC's web site at http://www.sec.gov.A fund's Forms N-Q may be reviewed and copied at the SEC's Public Reference Room in Washington, DC. Information regarding the operation of the SEC's Public Reference Room may be obtained by calling 1-800-SEC-0330. For a complete list of a fund's portfolio holdings, view the most recent holdings listing, semiannual report, or annual report on Fidelity's web site at http://www.fidelity.com, http://www.advisor.fidelity.com, or http://www.401k.com, as applicable.

NOT FDIC INSURED • MAY LOSE VALUE • NO BANK GUARANTEE

Neither the fund nor Fidelity Distributors Corporation is a bank.

Semiannual Report

---

# Shareholder Expense Example

As a shareholder of the Fund, you incur two types of costs: (1) transaction costs, including sales charges (loads) on purchase payments or redemption proceeds, redemption fees and (2) ongoing costs, including management fees, distribution and/or service (12b-1) fees and other Fund expenses. This Example is intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds.

The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (November 1, 2014 to April 30, 2015).

Actual Expenses

The first line of the accompanying table for each class of the Fund provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000.00 (for example, an $8,600 account value divided by $1,000.00 = 8.6), then multiply the result by the number in the first line for a class of the Fund under the heading entitled "Expenses Paid During Period" to estimate the expenses you paid on your account during this period. A small balance maintenance fee of $12.00 that is charged once a year may apply for certain accounts with a value of less than $2,000. This fee is not included in the table below. If it was, the estimate of expenses you paid during the period would be higher, and your ending account value lower, by this amount. In addition, the Fund, as a shareholder in the underlying Fidelity Central Funds, will indirectly bear its pro-rata share of the fees and expenses incurred by the underlying Fidelity Central Funds. These fees and expenses are not included in the Fund's annualized expense ratio used to calculate the expense estimate in the table below.

Hypothetical Example for Comparison Purposes

The second line of the accompanying table for each class of the Fund provides information about hypothetical account values and hypothetical expenses based on a Class' actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Class' actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds. A small balance maintenance fee of $12.00 that is charged once a year may apply for certain accounts with a value of less than $2,000. This fee is not included in the table below. If it was, the estimate of expenses you paid during the period would be higher, and your ending account value lower, by this amount. In addition, the Fund, as a shareholder in the underlying Fidelity Central Funds, will indirectly bear its pro-rata share of the fees and expenses incurred by the underlying Fidelity Central Funds. These fees and expenses are not included in the Fund's annualized expense ratio used to calculate the expense estimate in the table below.

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transaction costs. Therefore, the second line of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.

Semiannual Report

Shareholder Expense Example - continued

|                     | Annualized
Expense RatioB | Beginning
Account Value
November 1, 2014 | Ending
Account Value
April 30, 2015 | Expenses Paid
During Period*November 1, 2014
to April 30, 2015
|-------------------- | ------------------------- | ---------------------------------------- | ----------------------------------- | --------------------------------------------------------------
|Class A              | 1.28%                     |                                          |                                     |                                                               
|Actual               |                           | $	1,000.00                               | $	1,066.70                          | $	6.56                                                        
|HypotheticalA        |                           | $	1,000.00                               | $	1,018.45                          | $	6.41                                                        
|Class T              | 1.60%                     |                                          |                                     |                                                               
|Actual               |                           | $	1,000.00                               | $	1,065.00                          | $	8.19                                                        
|HypotheticalA        |                           | $	1,000.00                               | $	1,016.86                          | $	8.00                                                        
|Class B              | 2.06%                     |                                          |                                     |                                                               
|Actual               |                           | $	1,000.00                               | $	1,061.40                          | $	10.53                                                       
|HypotheticalA        |                           | $	1,000.00                               | $	1,014.58                          | $	10.29                                                       
|Class C              | 2.09%                     |                                          |                                     |                                                               
|Actual               |                           | $	1,000.00                               | $	1,061.60                          | $	10.68                                                       
|HypotheticalA        |                           | $	1,000.00                               | $	1,014.43                          | $	10.44                                                       
|International Growth | 1.00%                     |                                          |                                     |                                                               
|Actual               |                           | $	1,000.00                               | $	1,067.20                          | $	5.13                                                        
|HypotheticalA        |                           | $	1,000.00                               | $	1,019.84                          | $	5.01                                                        
|Institutional Class  | 1.00%                     |                                          |                                     |                                                               
|Actual               |                           | $	1,000.00                               | $	1,067.80                          | $	5.13                                                        
|HypotheticalA        |                           | $	1,000.00                               | $	1,019.84                          | $	5.01                                                        
|Class Z              | .87%                      |                                          |                                     |                                                               
|Actual               |                           | $	1,000.00                               | $	1,068.90                          | $	4.46                                                        
|HypotheticalA        |                           | $	1,000.00                               | $	1,020.48                          | $	4.36                                                        

A5% return per year before expenses

BAnnualized expense ratio reflects expenses net of applicable fee waivers.

*Expenses are equal to each Class' annualized expense ratio, multiplied by the average account value over the period, multiplied by 181/365 (to reflect the one-half year period).

Semiannual Report

---

# Investment Changes (Unaudited)

|Geographic Diversification (% of fund's net assets)
|---------------------------------------------------
|As of April 30, 2015                               
|int445                                             
|int447                                             
|int449                                             
|int451                                             
|int453                                             
|int455                                             
|int457                                             
|int459                                             
|int461                                             
|int463                                             

int465

|Percentages are based on country or territory of incorporation and are adjusted for the effect of futures contracts, if applicable.
|-----------------------------------------------------------------------------------------------------------------------------------
|*Includes Short-Term Investments and Net Other Assets (Liabilities)                                                                

|As of October 31, 2014
|----------------------
|int467                
|int469                
|int471                
|int473                
|int475                
|int477                
|int479                
|int481                
|int483                
|int485                

int487

|Percentages are based on country or territory of incorporation and are adjusted for the effect of futures contracts, if applicable.
|-----------------------------------------------------------------------------------------------------------------------------------
|*Includes Short-Term Investments and Net Other Assets (Liabilities)                                                                

|Asset Allocation as of April 30, 2015                                      
|---------------------------------------------------------------------------
|                                                                           
|Stocks                                                                     
|Short-Term Investments and Net Other Assets (Liabilities)                  
|Top Ten Stocks as of April 30, 2015                                        
|                                                                           
|Novartis AG (Switzerland, Pharmaceuticals)                                 
|Roche Holding AG (participation certificate) (Switzerland, Pharmaceuticals)
|Nestle SA (Switzerland, Food Products)                                     
|Anheuser-Busch InBev SA NV (Belgium, Beverages)                            
|DENSO Corp. (Japan, Auto Components)                                       
|Novo Nordisk A/S Series B sponsored ADR (Denmark, Pharmaceuticals)         
|Reckitt Benckiser Group PLC (United Kingdom, Household Products)           
|CSL Ltd. (Australia, Biotechnology)                                        
|Keyence Corp. (Japan, Electronic Equipment & Components)                   
|Inditex SA (Spain, Specialty Retail)                                       
|                                                                           
|Market Sectors as of April 30, 2015                                        
|                                                                           
|Health Care                                                                
|Financials                                                                 
|Consumer Discretionary                                                     
|Consumer Staples                                                           
|Industrials                                                                
|Information Technology                                                     
|Materials                                                                  
|Energy                                                                     
|Telecommunication Services                                                 

Semiannual Report

---

# Investments April 30, 2015 (Unaudited)

Showing Percentage of Net Assets

|Common Stocks - 98.1%                                      
|-----------------------------------------------------------
|                                                           
|Australia - 3.3%                                           
|CSL Ltd.                                                   
|Sydney Airport unit                                        
|Transurban Group unit                                      
|TOTAL AUSTRALIA                                            
|Austria - 1.1%                                             
|Andritz AG                                                 
|Bailiwick of Jersey - 1.5%                                 
|Shire PLC                                                  
|Belgium - 4.6%                                             
|Anheuser-Busch InBev SA NV                                 
|KBC Groep NV                                               
|TOTAL BELGIUM                                              
|Bermuda - 0.4%                                             
|Lazard Ltd. Class A                                        
|Canada - 1.0%                                              
|Canadian Pacific Railway Ltd.                              
|Pason Systems, Inc.                                        
|ShawCor Ltd. Class A                                       
|TOTAL CANADA                                               
|Cayman Islands - 0.7%                                      
|58.com, Inc. ADR (a)                                       
|Alibaba Group Holding Ltd. sponsored ADR                   
|TOTAL CAYMAN ISLANDS                                       
|Denmark - 2.9%                                             
|Jyske Bank A/S (Reg.) (a)                                  
|Novo Nordisk A/S Series B sponsored ADR                    
|TOTAL DENMARK                                              
|Finland - 0.2%                                             
|Tikkurila Oyj                                              
|France - 1.1%                                              
|Safran SA                                                  
|Germany - 3.8%                                             
|Bayer AG                                                   
|Linde AG                                                   
|TOTAL GERMANY                                              
|Common Stocks - continued                                  
|                                                           
|Hong Kong - 1.6%                                           
|AIA Group Ltd.                                             
|India - 0.6%                                               
|Housing Development Finance Corp. Ltd.                     
|Ireland - 2.3%                                             
|CRH PLC sponsored ADR                                      
|James Hardie Industries PLC:                               
|CDI                                                        
|sponsored ADR                                              
|TOTAL IRELAND                                              
|Israel - 0.3%                                              
|Azrieli Group                                              
|Italy - 0.9%                                               
|Azimut Holding SpA                                         
|Interpump Group SpA                                        
|TOTAL ITALY                                                
|Japan - 15.2%                                              
|Aozora Bank Ltd.                                           
|Astellas Pharma, Inc.                                      
|Coca-Cola Central Japan Co. Ltd.                           
|DENSO Corp.                                                
|East Japan Railway Co.                                     
|Fanuc Corp.                                                
|Fast Retailing Co. Ltd.                                    
|Hoya Corp.                                                 
|Japan Tobacco, Inc.                                        
|Keyence Corp.                                              
|Mitsui Fudosan Co. Ltd.                                    
|Nintendo Co. Ltd.                                          
|OSG Corp.                                                  
|Seven Bank Ltd.                                            
|SHO-BOND Holdings Co. Ltd.                                 
|USS Co. Ltd.                                               
|Yamato Kogyo Co. Ltd.                                      
|TOTAL JAPAN                                                
|Kenya - 0.5%                                               
|Safaricom Ltd.                                             
|Common Stocks - continued                                  
|                                                           
|Korea (South) - 0.9%                                       
|BGFretail Co. Ltd.                                         
|NAVER Corp.                                                
|TOTAL KOREA (SOUTH)                                        
|Mexico - 0.4%                                              
|Fomento Economico Mexicano S.A.B. de CV sponsored ADR (a)  
|Netherlands - 1.3%                                         
|ING Groep NV (Certificaten Van Aandelen)                   
|South Africa - 2.2%                                        
|Clicks Group Ltd.                                          
|MTN Group Ltd.                                             
|Naspers Ltd. Class N                                       
|TOTAL SOUTH AFRICA                                         
|Spain - 2.8%                                               
|Amadeus IT Holding SA Class A                              
|Hispania Activos Inmobiliarios SA (a)                      
|Inditex SA                                                 
|Prosegur Compania de Seguridad SA (Reg.)                   
|TOTAL SPAIN                                                
|Sweden - 5.6%                                              
|ASSA ABLOY AB (B Shares)                                   
|Atlas Copco AB (A Shares)                                  
|Fagerhult AB                                               
|H&M Hennes & Mauritz AB (B Shares) (d)                     
|Intrum Justitia AB                                         
|Svenska Handelsbanken AB (A Shares)                        
|TOTAL SWEDEN                                               
|Switzerland - 14.2%                                        
|Nestle SA                                                  
|Novartis AG                                                
|Roche Holding AG (participation certificate)               
|Schindler Holding AG:                                      
|(participation certificate)                                
|(Reg.)                                                     
|UBS Group AG                                               
|TOTAL SWITZERLAND                                          
|Common Stocks - continued                                  
|                                                           
|Taiwan - 0.7%                                              
|Taiwan Semiconductor Manufacturing Co. Ltd.                
|Turkey - 0.5%                                              
|Coca-Cola Icecek Sanayi A/S                                
|Tupras Turkiye Petrol Rafinelleri A/S                      
|TOTAL TURKEY                                               
|United Kingdom - 12.5%                                     
|Associated British Foods PLC                               
|Babcock International Group PLC                            
|BAE Systems PLC                                            
|Berendsen PLC                                              
|Informa PLC                                                
|InterContinental Hotel Group PLC ADR                       
|Johnson Matthey PLC                                        
|Lloyds Banking Group PLC                                   
|Prudential PLC                                             
|Reckitt Benckiser Group PLC                                
|Rolls-Royce Group PLC                                      
|SABMiller PLC                                              
|Shaftesbury PLC                                            
|Unite Group PLC                                            
|TOTAL UNITED KINGDOM                                       
|United States of America - 15.0%                           
|Autoliv, Inc. (d)                                          
|Berkshire Hathaway, Inc. Class B (a)                       
|BorgWarner, Inc.                                           
|Cummins, Inc.                                              
|Dril-Quip, Inc. (a)                                        
|FMC Technologies, Inc. (a)                                 
|Google, Inc. Class A (a)                                   
|Martin Marietta Materials, Inc.                            
|MasterCard, Inc. Class A                                   
|McGraw Hill Financial, Inc.                                
|Mead Johnson Nutrition Co. Class A                         
|Mohawk Industries, Inc. (a)                                
|Moody's Corp.                                              
|National Oilwell Varco, Inc.                               
|Oceaneering International, Inc.                            
|Philip Morris International, Inc.                          
|PriceSmart, Inc.                                           
|ResMed, Inc.                                               
|Common Stocks - continued                                  
|                                                           
|United States of America - continued                       
|Solera Holdings, Inc.                                      
|SS&C Technologies Holdings, Inc.                           
|Union Pacific Corp.                                        
|Visa, Inc. Class A                                         
|TOTAL UNITED STATES OF AMERICA                             
|TOTAL COMMON STOCKS
(Cost $1,027,694,550)                  
|Nonconvertible Preferred Stocks - 0.0%                     
|                                                           
|United Kingdom - 0.0%                                      
|Rolls-Royce Group PLC
(Cost $66,024)                       
|Money Market Funds - 5.2%                                  
|                                                           
|Fidelity Cash Central Fund, 0.15% (b)                      
|Fidelity Securities Lending Cash Central Fund, 0.17% (b)(c)
|TOTAL MONEY MARKET FUNDS
(Cost $62,769,332)                
|TOTAL INVESTMENT PORTFOLIO - 103.3%
(Cost $1,090,529,906)  
|NET OTHER ASSETS (LIABILITIES) - (3.3)%                    
|NET ASSETS - 100%                                          

|Legend                                                                                                                                                                                                                                                                                                                                                                                                                                           
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|(a)	Non-income producing                                                                                                                                                                                                                                                                                                                                                                                                                         
|(b)	Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.
|(c)	Investment made with cash collateral received from securities on loan.                                                                                                                                                                                                                                                                                                                                                                       
|(d)	Security or a portion of the security is on loan at period end.                                                                                                                                                                                                                                                                                                                                                                              
|Affiliated Central Funds                                                                                                                                                                                                                                                                                                                                                                                                                         
|Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:                                                                                                                                                                                                                                                                                                                    

|Fund                                          | Income earned
|--------------------------------------------- | -------------
|Fidelity Cash Central Fund                    | $	20,457     
|Fidelity Securities Lending Cash Central Fund | 88,876       
|Total                                         | $	109,333    

|Other Information                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|Categorizations in the Schedule of Investments are based on country or territory of incorporation.                                                                                                                                                                                                                                                                                                                                                                                             
|The following is a summary of the inputs used, as of April 30, 2015, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the tables below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

|Valuation Inputs at Reporting Date:
|-----------------------------------
|Description                        
|Investments in Securities:         
|Equities:                          
|Consumer Discretionary             
|Consumer Staples                   
|Energy                             
|Financials                         
|Health Care                        
|Industrials                        
|Information Technology             
|Materials                          
|Telecommunication Services         
|Money Market Funds                 
|Total Investments in Securities:   

|The following is a summary of transfers between Level 1 and Level 2 for the period ended April 30, 2015. Transfers are assumed to have occurred at the beginning of the period, and are primarily attributable to the valuation techniques used for foreign equity securities, as discussed in the accompanying Notes to Financial Statements:
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|Transfers          | Total        
|------------------ | -------------
|Level 1 to Level 2 | $	248,647,805
|Level 2 to Level 1 | $	41,812,143 

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

---

# Financial Statements

## Statement of Assets and Liabilities

|                                                                                                                                                        | April 30, 2015 (Unaudited)
|------------------------------------------------------------------------------------------------------------------------------------------------------- | --------------------------
|                                                                                                                                                        |                           
|Assets                                                                                                                                                  |                           
|Investment in securities, at value (including securities loaned of $27,233,266) - See accompanying schedule:
Unaffiliated issuers (cost $1,027,760,574) | $	1,188,895,297           
|Fidelity Central Funds (cost $62,769,332)                                                                                                               | 62,769,332                
|Total Investments (cost $1,090,529,906)                                                                                                                 |                           
|Receivable for investments sold                                                                                                                         |                           
|Receivable for fund shares sold                                                                                                                         |                           
|Dividends receivable                                                                                                                                    |                           
|Distributions receivable from Fidelity Central Funds                                                                                                    |                           
|Prepaid expenses                                                                                                                                        |                           
|Other receivables                                                                                                                                       |                           
|Total assets                                                                                                                                            |                           
|                                                                                                                                                        |                           
|Liabilities                                                                                                                                             |                           
|Payable for investments purchased                                                                                                                       | $	14,063,184              
|Payable for fund shares redeemed                                                                                                                        | 5,660,260                 
|Accrued management fee                                                                                                                                  | 691,109                   
|Distribution and service plan fees payable                                                                                                              | 78,455                    
|Other affiliated payables                                                                                                                               | 223,662                   
|Other payables and accrued expenses                                                                                                                     | 182,973                   
|Collateral on securities loaned, at value                                                                                                               | 28,799,550                
|Total liabilities                                                                                                                                       |                           
|                                                                                                                                                        |                           
|Net Assets                                                                                                                                              |                           
|Net Assets consist of:                                                                                                                                  |                           
|Paid in capital                                                                                                                                         |                           
|Undistributed net investment income                                                                                                                     |                           
|Accumulated undistributed net realized gain (loss) on investments and foreign currency transactions                                                     |                           
|Net unrealized appreciation (depreciation) on investments and assets and liabilities in foreign currencies                                              |                           
|Net Assets                                                                                                                                              |                           

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

Financial Statements - continued

## Statement of Assets and Liabilities - continued

|                                                                                                                                | April 30, 2015 (Unaudited)
|------------------------------------------------------------------------------------------------------------------------------- | --------------------------
|                                                                                                                                |                           
|Calculation of Maximum Offering Price
Class A:
Net Asset Valueand redemption price per share ($146,479,182 ÷ 12,542,743 shares) |                           
|                                                                                                                                |                           
|Maximum offering price per share (100/94.25 of $11.68)                                                                          |                           
|Class T:
Net Asset Value and redemption price per share ($24,745,240 ÷ 2,122,363 shares)                                        |                           
|                                                                                                                                |                           
|Maximum offering price per share (100/96.50 of $11.66)                                                                          |                           
|Class B:
Net Asset Value and offering price per share ($930,198 ÷ 80,307 shares)A                                               |                           
|                                                                                                                                |                           
|Class C:
Net Asset Value and offering price per share ($42,955,244 ÷ 3,720,744 shares)A                                         |                           
|                                                                                                                                |                           
|International Growth:
Net Asset Value, offering price and redemption price per share ($791,049,158 ÷ 67,306,562 shares)         |                           
|                                                                                                                                |                           
|Institutional Class:
Net Asset Value, offering price and redemption price per share ($204,971,698 ÷ 17,470,190 shares)          |                           
|                                                                                                                                |                           
|Class Z:
Net Asset Value, offering price and redemption price per share ($95,504 ÷ 8,131 shares)                                |                           

ARedemption price per share is equal to net asset value less any applicable contingent deferred sales charge.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Statement of Operations

|Six months ended April 30, 2015 (Unaudited)                                                                                           
|--------------------------------------------------------------------------------------------------------------------------------------
|                                                                                                                                      
|Investment Income                                                                                                                     
|Dividends                                                                                                                             
|Income from Fidelity Central Funds                                                                                                    
|Income before foreign taxes withheld                                                                                                  
|Less foreign taxes withheld                                                                                                           
|Total income                                                                                                                          
|                                                                                                                                      
|Expenses                                                                                                                              
|Management fee
Basic fee                                                                                                              
|Performance adjustment                                                                                                                
|Transfer agent fees                                                                                                                   
|Distribution and service plan fees                                                                                                    
|Accounting and security lending fees                                                                                                  
|Custodian fees and expenses                                                                                                           
|Independent trustees' compensation                                                                                                    
|Registration fees                                                                                                                     
|Audit                                                                                                                                 
|Legal                                                                                                                                 
|Miscellaneous                                                                                                                         
|Total expenses before reductions                                                                                                      
|Expense reductions                                                                                                                    
|Net investment income (loss)                                                                                                          
|Realized and Unrealized Gain (Loss)
Net realized gain (loss) on:                                                                      
|Investment securities:                                                                                                                
|Unaffiliated issuers                                                                                                                  
|Foreign currency transactions                                                                                                         
|Total net realized gain (loss)                                                                                                        
|Change in net unrealized appreciation (depreciation) on:
Investment securities (net of increase in deferred foreign taxes of $107,830)
|Assets and liabilities in foreign currencies                                                                                          
|Total change in net unrealized appreciation (depreciation)                                                                            
|Net gain (loss)                                                                                                                       
|Netincrease (decrease) in net assets resulting from operations                                                                        

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

Financial Statements - continued

## Statement of Changes in Net Assets

|                                                                                                                                                | Six months ended
April 30, 2015
(Unaudited) | Year ended
October 31,
2014
|----------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------------------- | ---------------------------
|Increase (Decrease) in Net Assets                                                                                                               |                                             |                            
|Operations                                                                                                                                      |                                             |                            
|Net investment income (loss)                                                                                                                    | $	5,808,268                                 | $	8,064,649                
|Net realized gain (loss)                                                                                                                        | (9,407,311)                                 | (8,929,624)                
|Change in net unrealized appreciation (depreciation)                                                                                            | 72,356,857                                  | 17,872,842                 
|Netincrease (decrease) in net assets resulting
from operations                                                                                  | 68,757,814                                  | 17,007,867                 
|Distributions to shareholders from net investment income                                                                                        | (7,019,920)                                 | (2,592,643)                
|Distributions to shareholders from net realized gain                                                                                            | -                                           | (513,441)                  
|Total distributions                                                                                                                             | (7,019,920)                                 | (3,106,084)                
|Share transactions - net increase (decrease)                                                                                                    | 212,672,136                                 | 336,569,228                
|Redemption fees                                                                                                                                 | 25,087                                      | 42,228                     
|Total increase (decrease) in net assets                                                                                                         | 274,435,117                                 | 350,513,239                
|                                                                                                                                                |                                             |                            
|Net Assets                                                                                                                                      |                                             |                            
|Beginning of period                                                                                                                             | 936,791,107                                 | 586,277,868                
|End of period (including undistributed net investment income of $5,618,110 and undistributed net investment income of $6,829,762, respectively) | $	1,211,226,224                             | $	936,791,107              

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - Class A

|                                             | Six months ended
April 30, 2015 | Years ended October 31,
|-------------------------------------------- | ------------------------------- | -----------------------
|                                             | (Unaudited)                     | 2014                   
|Selected Per-Share Data                      |                                 |                        
|Net asset value, beginning of period         | $	11.01                         | $	10.78                
|Income from Investment Operations            |                                 |                        
|Net investment income (loss)E                | .05                             | .09                    
|Net realized and unrealized gain (loss)      | .68                             | .18                    
|Total from investment operations             | .73                             | .27                    
|Distributions from net investment income     | (.06)                           | (.03)                  
|Distributions from net realized gain         | -                               | (.01)                  
|Total distributions                          | (.06)                           | (.04)                  
|Redemption fees added to paid in capitalE, I | -                               | -                      
|Net asset value, end of period               | $	11.68                         | $	11.01                
|Total ReturnB, C, D                          | 6.67%                           | 2.54%                  
|Ratios to Average Net AssetsF, H             |                                 |                        
|Expenses before reductions                   | 1.28%A                          | 1.35%                  
|Expenses net of fee waivers, if any          | 1.28%A                          | 1.35%                  
|Expenses net of all reductions               | 1.28%A                          | 1.34%                  
|Net investment income (loss)                 | .95%A                           | .84%                   
|Supplemental Data                            |                                 |                        
|Net assets, end of period (000 omitted)      | $	146,479                       | $	119,017              
|Portfolio turnover rate G                    | 23%A                            | 27%                    

AAnnualized

BTotal returns for periods of less than one year are not annualized.

CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

DTotal returns do not include the effect of the sales charges.

ECalculated based on average shares outstanding during the period.

FFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.

GAmount does not include the portfolio activity of any underlying Fidelity Central Funds.

HExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.

IAmount represents less than $.01 per share.

JTotal distributions of $.07 per share is comprised of distributions from net investment income of $.046 and distributions from net realized gain of $.025 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - Class T

|                                             | Six months ended
April 30, 2015 | Years ended October 31,
|-------------------------------------------- | ------------------------------- | -----------------------
|                                             | (Unaudited)                     | 2014                   
|Selected Per-Share Data                      |                                 |                        
|Net asset value, beginning of period         | $	10.96                         | $	10.75                
|Income from Investment Operations            |                                 |                        
|Net investment income (loss)E                | .03                             | .06                    
|Net realized and unrealized gain (loss)      | .68                             | .18                    
|Total from investment operations             | .71                             | .24                    
|Distributions from net investment income     | (.01)                           | (.02)                  
|Distributions from net realized gain         | -                               | (.01)                  
|Total distributions                          | (.01)                           | (.03)                  
|Redemption fees added to paid in capitalE, I | -                               | -                      
|Net asset value, end of period               | $	11.66                         | $	10.96                
|Total ReturnB, C, D                          | 6.50%                           | 2.21%                  
|Ratios to Average Net AssetsF, H             |                                 |                        
|Expenses before reductions                   | 1.60%A                          | 1.65%                  
|Expenses net of fee waivers, if any          | 1.60%A                          | 1.65%                  
|Expenses net of all reductions               | 1.60%A                          | 1.65%                  
|Net investment income (loss)                 | .63%A                           | .53%                   
|Supplemental Data                            |                                 |                        
|Net assets, end of period (000 omitted)      | $	24,745                        | $	26,369               
|Portfolio turnover rate G                    | 23%A                            | 27%                    

AAnnualized

BTotal returns for periods of less than one year are not annualized.

CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

DTotal returns do not include the effect of the sales charges.

ECalculated based on average shares outstanding during the period.

FFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.

GAmount does not include the portfolio activity of any underlying Fidelity Central Funds.

HExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.

IAmount represents less than $.01 per share.

JTotal distributions of $.07 per share is comprised of distributions from net investment income of $ .069 and distributions from net realized gain of $.005 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - Class B

|                                             | Six months ended
April 30, 2015 | Years ended October 31,
|-------------------------------------------- | ------------------------------- | -----------------------
|                                             | (Unaudited)                     | 2014                   
|Selected Per-Share Data                      |                                 |                        
|Net asset value, beginning of period         | $	10.91                         | $	10.73                
|Income from Investment Operations            |                                 |                        
|Net investment income (loss)E                | .01                             | -I                     
|Net realized and unrealized gain (loss)      | .66                             | .19                    
|Total from investment operations             | .67                             | .19                    
|Distributions from net investment income     | -                               | -                      
|Distributions from net realized gain         | -                               | (.01)                  
|Total distributions                          | -                               | (.01)                  
|Redemption fees added to paid in capitalE, I | -                               | -                      
|Net asset value, end of period               | $	11.58                         | $	10.91                
|Total ReturnB, C, D                          | 6.14%                           | 1.76%                  
|Ratios to Average Net AssetsF, H             |                                 |                        
|Expenses before reductions                   | 2.06%A                          | 2.14%                  
|Expenses net of fee waivers, if any          | 2.06%A                          | 2.14%                  
|Expenses net of all reductions               | 2.06%A                          | 2.14%                  
|Net investment income (loss)                 | .16%A                           | .04%                   
|Supplemental Data                            |                                 |                        
|Net assets, end of period (000 omitted)      | $	930                           | $	1,404                
|Portfolio turnover rate G                    | 23%A                            | 27%                    

AAnnualized

BTotal returns for periods of less than one year are not annualized.

CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

DTotal returns do not include the effect of the contingent deferred sales charge.

ECalculated based on average shares outstanding during the period.

FFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.

GAmount does not include the portfolio activity of any underlying Fidelity Central Funds.

HExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.

IAmount represents less than $.01 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - Class C

|                                             | Six months ended
April 30, 2015 | Years ended October 31,
|-------------------------------------------- | ------------------------------- | -----------------------
|                                             | (Unaudited)                     | 2014                   
|Selected Per-Share Data                      |                                 |                        
|Net asset value, beginning of period         | $	10.87                         | $	10.69                
|Income from Investment Operations            |                                 |                        
|Net investment income (loss)E                | .01                             | .01                    
|Net realized and unrealized gain (loss)      | .66                             | .18                    
|Total from investment operations             | .67                             | .19                    
|Distributions from net investment income     | -                               | -                      
|Distributions from net realized gain         | -                               | (.01)                  
|Total distributions                          | -                               | (.01)                  
|Redemption fees added to paid in capitalE, I | -                               | -                      
|Net asset value, end of period               | $	11.54                         | $	10.87                
|Total ReturnB, C, D                          | 6.16%                           | 1.77%                  
|Ratios to Average Net AssetsF, H             |                                 |                        
|Expenses before reductions                   | 2.09%A                          | 2.12%                  
|Expenses net of fee waivers, if any          | 2.09%A                          | 2.12%                  
|Expenses net of all reductions               | 2.08%A                          | 2.12%                  
|Net investment income (loss)                 | .14%A                           | .06%                   
|Supplemental Data                            |                                 |                        
|Net assets, end of period (000 omitted)      | $	42,955                        | $	32,737               
|Portfolio turnover rate G                    | 23%A                            | 27%                    

AAnnualized

BTotal returns for periods of less than one year are not annualized.

CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

DTotal returns do not include the effect of the contingent deferred sales charge.

ECalculated based on average shares outstanding during the period.

FFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.

GAmount does not include the portfolio activity of any underlying Fidelity Central Funds.

HExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.

IAmount represents less than $.01 per share.

JTotal distributions of $.01 per share is comprised of distributions from net investment income of $.008 and distributions from net realized gain of
$.005 per share.

KTotal distributions of $.01 per share is comprised of distributions from net investment income of $.007 and distributions from net realized gain of $.006 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - International Growth

|                                             | Six months ended
April 30, 2015 | Years ended October 31,
|-------------------------------------------- | ------------------------------- | -----------------------
|                                             | (Unaudited)                     | 2014                   
|Selected Per-Share Data                      |                                 |                        
|Net asset value, beginning of period         | $	11.10                         | $	10.84                
|Income from Investment Operations            |                                 |                        
|Net investment income (loss)D                | .07                             | .13                    
|Net realized and unrealized gain (loss)      | .67                             | .19                    
|Total from investment operations             | .74                             | .32                    
|Distributions from net investment income     | (.09)                           | (.05)                  
|Distributions from net realized gain         | -                               | (.01)                  
|Total distributions                          | (.09)                           | (.06)                  
|Redemption fees added to paid in capitalD, H | -                               | -                      
|Net asset value, end of period               | $	11.75                         | $	11.10                
|Total ReturnB, C                             | 6.72%                           | 2.96%                  
|Ratios to Average Net AssetsE, G             |                                 |                        
|Expenses before reductions                   | 1.00%A                          | 1.04%                  
|Expenses net of fee waivers, if any          | 1.00%A                          | 1.04%                  
|Expenses net of all reductions               | 1.00%A                          | 1.04%                  
|Net investment income (loss)                 | 1.23%A                          | 1.14%                  
|Supplemental Data                            |                                 |                        
|Net assets, end of period (000 omitted)      | $	791,049                       | $	635,607              
|Portfolio turnover rateF                     | 23%A                            | 27%                    

AAnnualized

BTotal returns for periods of less than one year are not annualized.

CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

DCalculated based on average shares outstanding during the period.

EFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.

FAmount does not include the portfolio activity of any underlying Fidelity Central Funds.

GExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.

HAmount represents less than $.01 per share.

ITotal distributions of $.08 per share is comprised of distributions from net investment income of $.057 and distributions from net realized gain of $.025 per share.

JTotal distributions of $.10 per share is comprised of distributions from net investment income of $.097 and distributions from net realized gain of $.005 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - Institutional Class

|                                             | Six months ended
April 30, 2015 | Years ended October 31,
|-------------------------------------------- | ------------------------------- | -----------------------
|                                             | (Unaudited)                     | 2014                   
|Selected Per-Share Data                      |                                 |                        
|Net asset value, beginning of period         | $	11.08                         | $	10.84                
|Income from Investment Operations            |                                 |                        
|Net investment income (loss)D                | .07                             | .13                    
|Net realized and unrealized gain (loss)      | .68                             | .18                    
|Total from investment operations             | .75                             | .31                    
|Distributions from net investment income     | (.10)                           | (.06)                  
|Distributions from net realized gain         | -                               | (.01)                  
|Total distributions                          | (.10)                           | (.07)                  
|Redemption fees added to paid in capitalD, H | -                               | -                      
|Net asset value, end of period               | $	11.73                         | $	11.08                
|Total ReturnB, C                             | 6.78%                           | 2.84%                  
|Ratios to Average Net AssetsE, G             |                                 |                        
|Expenses before reductions                   | 1.00%A                          | 1.04%                  
|Expenses net of fee waivers, if any          | 1.00%A                          | 1.04%                  
|Expenses net of all reductions               | 1.00%A                          | 1.04%                  
|Net investment income (loss)                 | 1.23%A                          | 1.14%                  
|Supplemental Data                            |                                 |                        
|Net assets, end of period (000 omitted)      | $	204,972                       | $	121,554              
|Portfolio turnover rate F                    | 23%A                            | 27%                    

AAnnualized

BTotal returns for periods of less than one year are not annualized.

CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

DCalculated based on average shares outstanding during the period.

EFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.

FAmount does not include the portfolio activity of any underlying Fidelity Central Funds.

GExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.

HAmount represents less than $.01 per share.

ITotal distributions of $.08 per share is comprised of distributions from net investment income of $.057 and distributions from net realized gain of $.025 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - Class Z

|                                             | Six months ended
April 30, 2015 | Years ended
October 31,
|-------------------------------------------- | ------------------------------- | -----------------------
|                                             | (Unaudited)                     | 2014                   
|Selected Per-Share Data                      |                                 |                        
|Net asset value, beginning of period         | $	11.10                         | $	10.84                
|Income from Investment Operations            |                                 |                        
|Net investment income (loss)D                | .08                             | .14                    
|Net realized and unrealized gain (loss)      | .68                             | .19                    
|Total from investment operations             | .76                             | .33                    
|Distributions from net investment income     | (.11)                           | (.06)                  
|Distributions from net realized gain         | -                               | (.01)                  
|Total distributions                          | (.11)                           | (.07)                  
|Redemption fees added to paid in capitalD, I | -                               | -                      
|Net asset value, end of period               | $	11.75                         | $	11.10                
|Total ReturnB, C                             | 6.89%                           | 3.07%                  
|Ratios to Average Net AssetsE, H             |                                 |                        
|Expenses before reductions                   | .87%A                           | .88%                   
|Expenses net of fee waivers, if any          | .87%A                           | .88%                   
|Expenses net of all reductions               | .87%A                           | .88%                   
|Net investment income (loss)                 | 1.36%A                          | 1.30%                  
|Supplemental Data                            |                                 |                        
|Net assets, end of period (000 omitted)      | $	96                            | $	104                  
|Portfolio turnover rateF                     | 23%A                            | 27%                    

AAnnualized

BTotal returns for periods of less than one year are not annualized.

CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

DCalculated based on average shares outstanding during the period.

EFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.

FAmount does not include the portfolio activity of any underlying Fidelity Central Funds.

GFor the period August 13, 2013 (commencement of sale of shares) to October 31, 2013.

HExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.

IAmount represents less than $.01 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

---

# Notes to Financial Statements

For the period ended April 30, 2015 (Unaudited)

1. Organization.

Fidelity® International Growth Fund (the Fund) is a fund of Fidelity Investment Trust (the Trust) and is authorized to issue an unlimited number of shares. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Massachusetts business trust. The Fund offers Class A, Class T,  Class C, International Growth, Institutional Class and Class Z shares, each of which, along with Class B shares, has equal rights as to assets and voting privileges.  Class B shares are closed to new accounts and additional purchases, except for exchanges and reinvestments. Each class has exclusive voting rights with respect to matters that affect that class. Class B shares will automatically convert to Class A shares after a holding period of seven years from the initial date of purchase.

2. Investments in Fidelity Central Funds.

The Fund invests in Fidelity Central Funds, which are open-end investment companies generally available only to other investment companies and accounts managed by  the investment adviser and its affiliates. The Fund's Schedule of Investments lists each of the Fidelity Central Funds held as of period end, if any, as an investment of the Fund, but does not include the underlying holdings of each Fidelity Central Fund. As an Investing Fund, the Fund indirectly bears its proportionate share of the expenses of the underlying Fidelity Central Funds.

The Money Market Central Funds seek preservation of capital and current income and are managed by Fidelity Investments Money Management, Inc. (FIMM), an affiliate of the investment adviser. Annualized expenses of the Money Market Central Funds as of their most recent shareholder report date are less than .01%.

A complete unaudited list of holdings for each Fidelity Central Fund is available upon request or at the Securities and Exchange Commission (the SEC) website at www.sec.gov. In addition, the financial statements of the Fidelity Central Funds are available on the SEC website or upon request.

3. Significant Accounting Policies.

The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP), which require management to make certain estimates and assumptions at the date of the financial statements. Actual results could differ from those estimates. Subsequent events, if any, through the date that the financial statements were issued have been evaluated in the preparation of

Semiannual Report

3. Significant Accounting Policies - continued

the financial statements. The following summarizes the significant accounting policies of the Fund:

Investment Valuation.Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. The Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fidelity Management & Research Company (FMR) Fair Value Committee (the Committee). In accordance with valuation policies and procedures approved by the Board, the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund's valuation policies and procedures and reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee.

The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels as shown below:

Level 1 - quoted prices in active markets for identical investments

Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, etc.)

Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available)

Valuation techniques used to value the Fund's investments by major category are as follows:

Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing vendor on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs),

Semiannual Report

Notes to Financial Statements (Unaudited) - continued

3. Significant Accounting Policies - continued

Investment Valuation - continued

futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. Utilizing these techniques may result in transfers between Level 1 and Level 2. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy.

Investments in open-end mutual funds ,including the Fidelity Central Funds, are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy.

Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. The aggregate value of investments by input level, as of April 30, 2015, including information on transfers between Levels 1 and 2, is included at the end of the Fund's  Schedule of Investments.

Foreign Currency.The Fund may use foreign currency contracts to facilitate transactions in foreign-denominated securities. Gains and losses from these transactions may arise from changes in the value of the foreign currency or if the counterparties do not perform under the contracts' terms.

Foreign-denominated assets, including investment securities, and liabilities are translated into U.S. dollars at the exchange rates at period end. Purchases and sales of investment securities, income and dividends received and expenses denominated in foreign currencies are translated into U.S. dollars at the exchange rate in effect on the transaction date.

The effects of exchange rate fluctuations on investments are included with the net realized and unrealized gain (loss) on investment securities. Other foreign currency transactions resulting in realized and unrealized gain (loss) are disclosed separately.

Investment Transactions and Income.For financial reporting purposes, the Fund's investment holdings and NAV include trades executed through the end of the last business day of the period. The NAV per share for processing shareholder transactions is calculated as of the close of business of the New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time and includes trades executed through the end of the prior business day. Gains and losses on securities sold are determined on the basis of identified cost and may include proceeds received from litigation. Dividend income is recorded on the ex-dividend date, except for certain dividends from foreign securities where the ex-dividend date may have passed, which are recorded as soon as the Fund is informed of the ex-dividend date. Non-cash dividends included in dividend income, if any, are

Semiannual Report

3. Significant Accounting Policies - continued

Investment Transactions and Income - continued

recorded at the fair market value of the securities received. Income and capital gain distributions from Fidelity Central Funds, if any, are recorded on the ex-dividend date. Investment income is recorded net of foreign taxes withheld where recovery of such taxes is uncertain.

Class Allocations andExpenses. Investment income, realized and unrealized capital gains and losses, common expenses of the Fund, and certain fund-level expense reductions, if any, are allocated daily on a pro-rata basis to each class based on the relative net assets of each class to the total net assets of the Fund. Each class differs with respect to transfer agent and distribution and service plan fees incurred. Certain expense reductions may also differ by class. For the reporting period, the allocated portion of income and expenses to each class as a percent of its average net assets may vary due to the timing of recording these transactions in relation to fluctuating net assets of the classes. Expenses directly attributable to a fund are charged to that fund. Expenses attributable to more than one fund are allocated among the respective funds on the basis of relative net assets or other appropriate methods.  Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.

Income Tax Information and Distributions to Shareholders. Each year, the Fund intends to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code, including distributing substantially all of its taxable income and realized gains. As a result, no provision for U.S. Federal income taxes is required. The Fund files a U.S. federal tax return, in addition to state and local tax returns as required. The Fund's federal income tax returns are subject to examination by the Internal Revenue Service (IRS) for a period of three fiscal years after they are filed. State and local tax returns may be subject to examination for an additional fiscal year depending on the jurisdiction. Foreign taxes are provided for based on the Fund's understanding of the tax rules and rates that exist in the foreign markets in which it invests. The Fund is subject to a tax imposed on capital gains by certain countries in which it invests. An estimated deferred tax liability for net unrealized appreciation on the applicable securities is included in Other payables and accrued expenses on the Statement of Assets & Liabilities.

Distributions are declared and recorded on the ex-dividend date. Income dividends and capital gain distributions are declared separately for each class. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP.

Capital accounts within the financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations.

Semiannual Report

Notes to Financial Statements (Unaudited) - continued

3. Significant Accounting Policies - continued

Income Tax Information and Distributions to Shareholders - continued

Capital accounts are not adjusted for temporary book-tax differences which will reverse in a subsequent period.

Book-tax differences are primarily due to foreign currency transactions, passive foreign investment companies (PFIC), partnerships, capital loss carryforwards and losses deferred due to wash sales.

The federal tax cost of investment securities and unrealized appreciation (depreciation) as of period end were as follows:

|Gross unrealized appreciation                            | $	176,980,396  
|-------------------------------------------------------- | ---------------
|Gross unrealized depreciation                            | (17,086,885)   
|Net unrealized appreciation (depreciation) on securities | $	159,893,511  
|                                                         |                
|Tax cost                                                 | $	1,091,771,118

Capital loss carryforwards are only available to offset future capital gains of the Fund to the extent provided by regulations and may be limited. Under the Regulated Investment Company Modernization Act of 2010 (the Act), the Fund is permitted to carry forward capital losses incurred in taxable years beginning after December 22, 2010 for an unlimited period and such capital losses are required to be used prior to any losses that expire.  The capital loss carryforward information presented below, including any applicable limitation, is estimated as of prior fiscal period end and is subject to adjustment.

|No expiration       |            
|------------------- | -----------
|Short-term          | (7,236,154)
|Long-term           | (1,281,020)
|Total no expiration | (8,517,174)

Short-Term Trading (Redemption) Fees. Shares held by investors in the Fund less than 30 days may have been subject to a redemption fee equal to 1.00% of the NAV of shares redeemed. All redemption fees, which reduce the proceeds of the shareholder redemption, are retained by the Fund and accounted for as an addition to paid in capital.

New Accounting Pronouncement.In June 2014, the Financial Accounting Standards Board issued Accounting Standard Update No. 2014-11, Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures (the Update). The Update amends the accounting for certain repurchase agreements and expands disclosure requirements for reverse repurchase agreements, securities lending and other similar transactions. The disclosure requirements are effective for annual and interim reporting periods beginning after December 15, 2014. Management is currently evaluating the impact of the Update on the Fund's financial statements and related disclosures.

Semiannual Report

4. Purchases and Sales of Investments.

Purchases and sales of securities, other than short-term securities, aggregated $333,149,467 and $113,267,857, respectively.

5. Fees and Other Transactions with Affiliates.

Management Fee. FMR (the investment adviser)  and its affiliates provide the Fund with investment management related services for which the Fund pays a monthly management fee. The management fee is the sum of an individual fund fee rate that is based on an annual rate of .45% of the Fund's average net assets and an annualized group fee rate that averaged .25% during the period. The group fee rate is based upon the average net assets of all the mutual funds advised by the investment adviser, including any mutual funds previously advised by the investment adviser that are currently advised by Fidelity SelectCo, LLC, an affiliate of the investment adviser. The group fee rate decreases as assets under management increase and increases as assets under management decrease. In addition, the management fee is subject to a performance adjustment  (up to a maximum of ± .xx% of the Fund's average net assets over a 36 month performance period). The upward or downward adjustment to the management fee is based on the relative investment performance of International Growth as compared to its benchmark index, the MSCI EAFE Growth Index, over the same 36 month performance period. For the reporting period, the total annualized management fee rate, including the performance adjustment, was .73% of the Fund's average net assets. The performance adjustment included in the management fee rate may be higher or lower than the maximum performance adjustment rate due to the difference between the average net assets for the reporting and performance periods.

Distribution and Service Plan Fees. In accordance with Rule 12b-1 of the 1940 Act, the Fund has adopted separate Distribution and Service Plans for each class of shares. Certain classes pay Fidelity Distributors Corporation (FDC), an affiliate of the investment adviser, separate Distribution and Service Fees, each of which is based on an annual percentage of each class' average net assets. In addition, FDC may pay financial intermediaries for selling shares of the Fund and providing shareholder support services. For the period, the Distribution and Service Fee rates, total fees and amounts retained by FDC were as follows:

|        | Distribution
Fee | Service
Fee | Total Fees | Retained
by FDC
|------- | ---------------- | ----------- | ---------- | ---------------
|Class A | -%               | .25%        | $	164,169  | $	6,099        
|Class T | .25%             | .25%        | 68,217     | 1,156          
|Class B | .75%             | .25%        | 6,444      | 4,861          
|Class C | .75%             | .25%        | 175,032    | 57,103         
|        |                  |             | $	413,862  | $	69,219       

Semiannual Report

Notes to Financial Statements (Unaudited) - continued

5. Fees and Other Transactions with Affiliates - continued

Sales Load. FDC may receive a front-end sales charge of up to 5.75% for selling Class A shares and 3.50% for selling Class T shares, some of which is paid to financial intermediaries for selling shares of the Fund. Depending on the holding period, FDC may receive contingent deferred sales charges levied on Class A, Class T, Class B, and Class C redemptions. The deferred sales charges range from 5.00% to 1.00% for Class B shares, 1.00% for Class C shares, 1.00% for certain purchases of Class A shares and .25% for certain purchases of Class T shares.

For the period, sales charge amounts retained by FDC were as follows:

|         | Retained
by FDC
|-------- | ---------------
|Class A  | $	47,114       
|Class T  | 7,615          
|Class B* | 218            
|Class C* | 2,684          
|         | $	57,631       

*	When Class B and Class C shares are initially sold, FDC pays commissions from its own resources to financial intermediaries through which the sales are made.

Transfer Agent Fees.Fidelity Investments Institutional Operations Company, Inc., (FIIOC), an affiliate of the investment adviser, is the transfer, dividend disbursing and shareholder servicing agent for each class of the Fund. FIIOC receives account fees and asset-based fees that vary according to the account size and type of account of the shareholders of the respective classes of the Fund, except for Class Z. FIIOC receives an asset-based fee of Class Z's average net assets. FIIOC pays for typesetting, printing and mailing of shareholder reports, except proxy statements.

For the period, transfer agent fees for each class were as follows:

|                     | Amount      | % of
Class-Level Average
Net Assets*
|-------------------- | ----------- | ------------------------------------
|Class A              | $	142,394   | .22                                 
|Class T              | 39,333      | .29                                 
|Class B              | 1,596       | .25                                 
|Class C              | 48,190      | .27                                 
|International Growth | 633,070     | .19                                 
|Institutional Class  | 138,698     | .19                                 
|Class Z              | 26          | .05                                 
|                     | $	1,003,307 |                                     

*Annualized

Semiannual Report

5. Fees and Other Transactions with Affiliates - continued

Accounting and Security Lending Fees.Fidelity Service Company, Inc. (FSC), an affiliate of the investment adviser, maintains the Fund's accounting records. The accounting fee is based on the level of average net assets for each month. Under a separate contract, FSC administers the security lending program. The security lending fee is based on the number and duration of lending transactions.

Brokerage Commissions.The Fund placed a portion of its portfolio transactions with brokerage firms which are affiliates of the investment adviser. Brokerage commissions are included in net realized gain (loss) and change in net unrealized appreciation (depreciation) in the Statement of Operations. The commissions paid to these affiliated firms were $525 for the period.

6. Committed Line of Credit.

The Fund participates with other funds managed by the investment adviser or an affiliate in a $4.25 billion credit facility (the "line of credit") to be utilized for temporary or emergency purposes to fund shareholder redemptions or for other short-term liquidity purposes. The Fund has agreed to pay commitment fees on its pro-rata portion of the line of credit, which amounted to $764 and is reflected in Miscellaneous expenses on the Statement of Operations. During the period, the Fund did not borrow on this line of credit.

7. Security Lending.

The Fund lends portfolio securities through a lending agent from time to time in order to earn additional income. For equity securities, a lending agent is used and may loan securities to certain qualified borrowers, including Fidelity Capital Markets (FCM), a broker-dealer affiliated with the Fund. On the settlement date of the loan, the Fund receives collateral (in the form of U.S. Treasury obligations, letters of credit and/or cash) against the loaned securities and maintains collateral in an amount not less than 100% of the market value of the loaned securities during the period of the loan. The market value of the loaned securities is determined at the close of business of the Fund and any additional required collateral is delivered to the Fund on the next business day. If the borrower defaults on its obligation to return the securities loaned because of insolvency or other reasons, the Fund may apply collateral received from the borrower against the obligation. The Fund may experience delays and costs in recovering the securities loaned. Any cash collateral received is invested in the Fidelity Securities Lending Cash Central Fund. The value of loaned securities and cash collateral at period end are disclosed on the Fund's Statement of Assets and Liabilities. Security lending income represents the income earned on investing cash collateral, less rebates paid to borrowers

Semiannual Report

Notes to Financial Statements (Unaudited) - continued

7. Security Lending - continued

and any lending agent fees associated with the loan, plus any premium payments received for lending certain types of securities. Security lending income is presented in the Statement of Operations as a component of income from Fidelity Central Funds. Total security lending income during the period amounted to $88,876, including $2,973 from securities loaned to FCM.

8. Expense Reductions.

Commissions paid to certain brokers with whom the investment adviser, or its affiliates, places trades on behalf of the Fund include an amount in addition to trade execution, which may be rebated back to the Fund to offset certain expenses. This amount totaled $5,164 for the period. In addition, through arrangements with the Fund's custodian, credits realized as a result of uninvested cash balances were used to reduce the Fund's expenses. During the period, these credits reduced the Fund's custody expenses by $4.

In addition, the investment adviser reimbursed a portion of the Fund's operating expenses, including certain International Growth expenses during the period in the amount of $449.

9. Distributions to Shareholders.

Distributions to shareholders of each class were as follows:

|                           | Six months ended
April 30,
2015 | Year ended
October 31,
2014
|-------------------------- | ------------------------------- | ---------------------------
|From net investment income |                                 |                            
|Class A                    | $	684,921                       | $	253,092                  
|Class T                    | 29,128                          | 40,595                     
|International Growth       | 5,239,951                       | 2,051,403                  
|Institutional Class        | 1,064,912                       | 246,949                    
|Class Z                    | 1,008                           | 604                        
|Total                      | $	7,019,920                     | $	2,592,643                
|From net realized gain     |                                 |                            
|Class A                    | $	-                             | $	66,995                   
|Class T                    | -                               | 20,298                     
|Class B                    | -                               | 1,337                      
|Class C                    | -                               | 16,479                     
|International Growth       | -                               | 369,252                    
|Institutional Class        | -                               | 38,992                     
|Class Z                    | -                               | 88                         
|Total                      | $	-                             | $	513,441                  

Semiannual Report

10. Share Transactions.

Share transactions for each class were as follows and may contain automatic conversions between classes or exchanges between funds:

|                              | Shares                          | Dollars                    
|----------------------------- | ------------------------------- | ---------------------------
|                              | Six months ended
April 30,
2015 | Year ended
October 31,
2014
|Class A                       |                                 |                            
|Shares sold                   | 3,857,656                       | 6,584,484                  
|Reinvestment of distributions | 60,571                          | 27,068                     
|Shares redeemed               | (2,182,030)                     | (2,724,911)                
|Net increase (decrease)       | 1,736,197                       | 3,886,641                  
|Class T                       |                                 |                            
|Shares sold                   | 559,535                         | 834,072                    
|Reinvestment of distributions | 2,593                           | 5,459                      
|Shares redeemed               | (844,626)                       | (585,464)                  
|Net increase (decrease)       | (282,498)                       | 254,067                    
|Class B                       |                                 |                            
|Shares sold                   | 14,946                          | 35,020                     
|Reinvestment of distributions | -                               | 123                        
|Shares redeemed               | (63,374)                        | (53,583)                   
|Net increase (decrease)       | (48,428)                        | (18,440)                   
|Class C                       |                                 |                            
|Shares sold                   | 1,137,803                       | 1,827,859                  
|Reinvestment of distributions | -                               | 1,498                      
|Shares redeemed               | (428,330)                       | (426,678)                  
|Net increase (decrease)       | 709,473                         | 1,402,679                  
|International Growth          |                                 |                            
|Shares sold                   | 15,407,407                      | 27,835,093                 
|Reinvestment of distributions | 387,169                         | 197,948                    
|Shares redeemed               | (5,762,096)                     | (10,494,762)               
|Net increase (decrease)       | 10,032,480                      | 17,538,279                 
|Institutional Class           |                                 |                            
|Shares sold                   | 9,272,246                       | 10,292,704                 
|Reinvestment of distributions | 92,581                          | 24,180                     
|Shares redeemed               | (2,861,661)                     | (2,927,192)                
|Net increase (decrease)       | 6,503,166                       | 7,389,692                  
|Class Z                       |                                 |                            
|Reinvestment of distributions | 91                              | 64                         
|Shares redeemed               | (1,296)                         | (475)                      
|Net increase (decrease)       | (1,205)                         | (411)                      

Semiannual Report

Notes to Financial Statements (Unaudited) - continued

11. Other.

The Fund's organizational documents provide former and current trustees and officers with a limited indemnification against liabilities arising in connection with the performance of their duties to the Fund. In the normal course of business, the Fund may also enter into contracts that provide general indemnifications. The Fund's maximum exposure under these arrangements is unknown as this would be dependent on future claims that may be made against the Fund. The risk of material loss from such claims is considered remote.

Semiannual Report

Investment Adviser

Fidelity Management & Research Company
Boston, MA

Investment Sub-Advisers

FMR Co., Inc.

FMR Investment Management
(U.K.) Limited

Fidelity Management & Research
(Hong Kong) Limited

Fidelity Management & Research
(Japan) Limited

FIL Investment Advisors

FIL Investments (Japan) Limited

FIL Investment Advisors (UK) Limited

General Distributor

Fidelity Distributors Corporation

Smithfield, RI

Transfer and Service Agents

Fidelity Investments Institutional Operations Company, Inc.

Boston, MA

Fidelity Service Company, Inc.

Boston, MA

Custodian

State Street Bank and Trust Company

Quincy, MA



(Fidelity Investment logo)(registered trademark)

`AIGF-USAN-0615
1.853351.107`

(Fidelity Investment logo)(registered trademark)Fidelity Advisor®

International Growth

Fund - Institutional Class

Semiannual Report

April 30, 2015(Fidelity Cover Art)

Institutional Class is
a class of Fidelity®
International Growth Fund

---

# Contents

|Shareholder Expense Example | (Click Here) | An example of shareholder expenses.                                                                          
|--------------------------- | ------------ | -------------------------------------------------------------------------------------------------------------
|Investment Changes          | (Click Here) | A summary of major shifts in the fund's investments over the past six months.                                
|Investments                 | (Click Here) | A complete list of the fund's investments with their market values.                                          
|Financial Statements        | (Click Here) | Statements of assets and liabilities, operations, and changes in net assets, as well as financial highlights.
|Notes                       | (Click Here) | Notes to financial statements.                                                                               

To view a fund's proxy voting guidelines and proxy voting record for the 12-month period ended June 30, visit http://www.fidelity.com/proxyvotingresults or visit the Securities and Exchange Commission's (SEC) web site at http://www.sec.gov. You may also call 1-877-208-0098 to request a free copy of the proxy voting guidelines.

Standard & Poor's, S&P and S&P 500 are registered service marks of The McGraw-Hill Companies, Inc. and have been licensed for use by Fidelity Distributors Corporation.

Other third-party marks appearing herein are the property of their respective owners.

All other marks appearing herein are registered or unregistered trademarks or service marks of FMR LLC or an affiliated company. © 2015 FMR LLC. All rights reserved.



This report and the financial statements contained herein are submitted for the general information of the shareholders of the fund. This report is not authorized for distribution to prospective investors in the fund unless preceded or accompanied by an effective prospectus.

A fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-Q. Forms N-Q are available on the SEC's web site at http://www.sec.gov.A fund's Forms N-Q may be reviewed and copied at the SEC's Public Reference Room in Washington, DC. Information regarding the operation of the SEC's Public Reference Room may be obtained by calling 1-800-SEC-0330. For a complete list of a fund's portfolio holdings, view the most recent holdings listing, semiannual report, or annual report on Fidelity's web site at http://www.fidelity.com, http://www.advisor.fidelity.com, or http://www.401k.com, as applicable.

NOT FDIC INSURED • MAY LOSE VALUE • NO BANK GUARANTEE

Neither the fund nor Fidelity Distributors Corporation is a bank.

Semiannual Report

---

# Shareholder Expense Example

As a shareholder of the Fund, you incur two types of costs: (1) transaction costs, including sales charges (loads) on purchase payments or redemption proceeds, redemption fees and (2) ongoing costs, including management fees, distribution and/or service (12b-1) fees and other Fund expenses. This Example is intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds.

The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (November 1, 2014 to April 30, 2015).

Actual Expenses

The first line of the accompanying table for each class of the Fund provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000.00 (for example, an $8,600 account value divided by $1,000.00 = 8.6), then multiply the result by the number in the first line for a class of the Fund under the heading entitled "Expenses Paid During Period" to estimate the expenses you paid on your account during this period. A small balance maintenance fee of $12.00 that is charged once a year may apply for certain accounts with a value of less than $2,000. This fee is not included in the table below. If it was, the estimate of expenses you paid during the period would be higher, and your ending account value lower, by this amount. In addition, the Fund, as a shareholder in the underlying Fidelity Central Funds, will indirectly bear its pro-rata share of the fees and expenses incurred by the underlying Fidelity Central Funds. These fees and expenses are not included in the Fund's annualized expense ratio used to calculate the expense estimate in the table below.

Hypothetical Example for Comparison Purposes

The second line of the accompanying table for each class of the Fund provides information about hypothetical account values and hypothetical expenses based on a Class' actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Class' actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds. A small balance maintenance fee of $12.00 that is charged once a year may apply for certain accounts with a value of less than $2,000. This fee is not included in the table below. If it was, the estimate of expenses you paid during the period would be higher, and your ending account value lower, by this amount. In addition, the Fund, as a shareholder in the underlying Fidelity Central Funds, will indirectly bear its pro-rata share of the fees and expenses incurred by the underlying Fidelity Central Funds. These fees and expenses are not included in the Fund's annualized expense ratio used to calculate the expense estimate in the table below.

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transaction costs. Therefore, the second line of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.

Semiannual Report

Shareholder Expense Example - continued

|                     | Annualized
Expense RatioB | Beginning
Account Value
November 1, 2014 | Ending
Account Value
April 30, 2015 | Expenses Paid
During Period*November 1, 2014
to April 30, 2015
|-------------------- | ------------------------- | ---------------------------------------- | ----------------------------------- | --------------------------------------------------------------
|Class A              | 1.28%                     |                                          |                                     |                                                               
|Actual               |                           | $	1,000.00                               | $	1,066.70                          | $	6.56                                                        
|HypotheticalA        |                           | $	1,000.00                               | $	1,018.45                          | $	6.41                                                        
|Class T              | 1.60%                     |                                          |                                     |                                                               
|Actual               |                           | $	1,000.00                               | $	1,065.00                          | $	8.19                                                        
|HypotheticalA        |                           | $	1,000.00                               | $	1,016.86                          | $	8.00                                                        
|Class B              | 2.06%                     |                                          |                                     |                                                               
|Actual               |                           | $	1,000.00                               | $	1,061.40                          | $	10.53                                                       
|HypotheticalA        |                           | $	1,000.00                               | $	1,014.58                          | $	10.29                                                       
|Class C              | 2.09%                     |                                          |                                     |                                                               
|Actual               |                           | $	1,000.00                               | $	1,061.60                          | $	10.68                                                       
|HypotheticalA        |                           | $	1,000.00                               | $	1,014.43                          | $	10.44                                                       
|International Growth | 1.00%                     |                                          |                                     |                                                               
|Actual               |                           | $	1,000.00                               | $	1,067.20                          | $	5.13                                                        
|HypotheticalA        |                           | $	1,000.00                               | $	1,019.84                          | $	5.01                                                        
|Institutional Class  | 1.00%                     |                                          |                                     |                                                               
|Actual               |                           | $	1,000.00                               | $	1,067.80                          | $	5.13                                                        
|HypotheticalA        |                           | $	1,000.00                               | $	1,019.84                          | $	5.01                                                        
|Class Z              | .87%                      |                                          |                                     |                                                               
|Actual               |                           | $	1,000.00                               | $	1,068.90                          | $	4.46                                                        
|HypotheticalA        |                           | $	1,000.00                               | $	1,020.48                          | $	4.36                                                        

A5% return per year before expenses

BAnnualized expense ratio reflects expenses net of applicable fee waivers.

*Expenses are equal to each Class' annualized expense ratio, multiplied by the average account value over the period, multiplied by 181/365 (to reflect the one-half year period).

Semiannual Report

---

# Investment Changes (Unaudited)

|Geographic Diversification (% of fund's net assets)
|---------------------------------------------------
|As of April 30, 2015                               
|int494                                             
|int496                                             
|int498                                             
|int500                                             
|int502                                             
|int504                                             
|int506                                             
|int508                                             
|int510                                             
|int512                                             

int514

|Percentages are based on country or territory of incorporation and are adjusted for the effect of futures contracts, if applicable.
|-----------------------------------------------------------------------------------------------------------------------------------
|*Includes Short-Term Investments and Net Other Assets (Liabilities)                                                                

|As of October 31, 2014
|----------------------
|int516                
|int518                
|int520                
|int522                
|int524                
|int526                
|int528                
|int530                
|int532                
|int534                

int536

|Percentages are based on country or territory of incorporation and are adjusted for the effect of futures contracts, if applicable.
|-----------------------------------------------------------------------------------------------------------------------------------
|*Includes Short-Term Investments and Net Other Assets (Liabilities)                                                                

|Asset Allocation as of April 30, 2015                                      
|---------------------------------------------------------------------------
|                                                                           
|Stocks                                                                     
|Short-Term Investments and Net Other Assets (Liabilities)                  
|Top Ten Stocks as of April 30, 2015                                        
|                                                                           
|Novartis AG (Switzerland, Pharmaceuticals)                                 
|Roche Holding AG (participation certificate) (Switzerland, Pharmaceuticals)
|Nestle SA (Switzerland, Food Products)                                     
|Anheuser-Busch InBev SA NV (Belgium, Beverages)                            
|DENSO Corp. (Japan, Auto Components)                                       
|Novo Nordisk A/S Series B sponsored ADR (Denmark, Pharmaceuticals)         
|Reckitt Benckiser Group PLC (United Kingdom, Household Products)           
|CSL Ltd. (Australia, Biotechnology)                                        
|Keyence Corp. (Japan, Electronic Equipment & Components)                   
|Inditex SA (Spain, Specialty Retail)                                       
|                                                                           
|Market Sectors as of April 30, 2015                                        
|                                                                           
|Health Care                                                                
|Financials                                                                 
|Consumer Discretionary                                                     
|Consumer Staples                                                           
|Industrials                                                                
|Information Technology                                                     
|Materials                                                                  
|Energy                                                                     
|Telecommunication Services                                                 

Semiannual Report

---

# Investments April 30, 2015 (Unaudited)

Showing Percentage of Net Assets

|Common Stocks - 98.1%                                      
|-----------------------------------------------------------
|                                                           
|Australia - 3.3%                                           
|CSL Ltd.                                                   
|Sydney Airport unit                                        
|Transurban Group unit                                      
|TOTAL AUSTRALIA                                            
|Austria - 1.1%                                             
|Andritz AG                                                 
|Bailiwick of Jersey - 1.5%                                 
|Shire PLC                                                  
|Belgium - 4.6%                                             
|Anheuser-Busch InBev SA NV                                 
|KBC Groep NV                                               
|TOTAL BELGIUM                                              
|Bermuda - 0.4%                                             
|Lazard Ltd. Class A                                        
|Canada - 1.0%                                              
|Canadian Pacific Railway Ltd.                              
|Pason Systems, Inc.                                        
|ShawCor Ltd. Class A                                       
|TOTAL CANADA                                               
|Cayman Islands - 0.7%                                      
|58.com, Inc. ADR (a)                                       
|Alibaba Group Holding Ltd. sponsored ADR                   
|TOTAL CAYMAN ISLANDS                                       
|Denmark - 2.9%                                             
|Jyske Bank A/S (Reg.) (a)                                  
|Novo Nordisk A/S Series B sponsored ADR                    
|TOTAL DENMARK                                              
|Finland - 0.2%                                             
|Tikkurila Oyj                                              
|France - 1.1%                                              
|Safran SA                                                  
|Germany - 3.8%                                             
|Bayer AG                                                   
|Linde AG                                                   
|TOTAL GERMANY                                              
|Common Stocks - continued                                  
|                                                           
|Hong Kong - 1.6%                                           
|AIA Group Ltd.                                             
|India - 0.6%                                               
|Housing Development Finance Corp. Ltd.                     
|Ireland - 2.3%                                             
|CRH PLC sponsored ADR                                      
|James Hardie Industries PLC:                               
|CDI                                                        
|sponsored ADR                                              
|TOTAL IRELAND                                              
|Israel - 0.3%                                              
|Azrieli Group                                              
|Italy - 0.9%                                               
|Azimut Holding SpA                                         
|Interpump Group SpA                                        
|TOTAL ITALY                                                
|Japan - 15.2%                                              
|Aozora Bank Ltd.                                           
|Astellas Pharma, Inc.                                      
|Coca-Cola Central Japan Co. Ltd.                           
|DENSO Corp.                                                
|East Japan Railway Co.                                     
|Fanuc Corp.                                                
|Fast Retailing Co. Ltd.                                    
|Hoya Corp.                                                 
|Japan Tobacco, Inc.                                        
|Keyence Corp.                                              
|Mitsui Fudosan Co. Ltd.                                    
|Nintendo Co. Ltd.                                          
|OSG Corp.                                                  
|Seven Bank Ltd.                                            
|SHO-BOND Holdings Co. Ltd.                                 
|USS Co. Ltd.                                               
|Yamato Kogyo Co. Ltd.                                      
|TOTAL JAPAN                                                
|Kenya - 0.5%                                               
|Safaricom Ltd.                                             
|Common Stocks - continued                                  
|                                                           
|Korea (South) - 0.9%                                       
|BGFretail Co. Ltd.                                         
|NAVER Corp.                                                
|TOTAL KOREA (SOUTH)                                        
|Mexico - 0.4%                                              
|Fomento Economico Mexicano S.A.B. de CV sponsored ADR (a)  
|Netherlands - 1.3%                                         
|ING Groep NV (Certificaten Van Aandelen)                   
|South Africa - 2.2%                                        
|Clicks Group Ltd.                                          
|MTN Group Ltd.                                             
|Naspers Ltd. Class N                                       
|TOTAL SOUTH AFRICA                                         
|Spain - 2.8%                                               
|Amadeus IT Holding SA Class A                              
|Hispania Activos Inmobiliarios SA (a)                      
|Inditex SA                                                 
|Prosegur Compania de Seguridad SA (Reg.)                   
|TOTAL SPAIN                                                
|Sweden - 5.6%                                              
|ASSA ABLOY AB (B Shares)                                   
|Atlas Copco AB (A Shares)                                  
|Fagerhult AB                                               
|H&M Hennes & Mauritz AB (B Shares) (d)                     
|Intrum Justitia AB                                         
|Svenska Handelsbanken AB (A Shares)                        
|TOTAL SWEDEN                                               
|Switzerland - 14.2%                                        
|Nestle SA                                                  
|Novartis AG                                                
|Roche Holding AG (participation certificate)               
|Schindler Holding AG:                                      
|(participation certificate)                                
|(Reg.)                                                     
|UBS Group AG                                               
|TOTAL SWITZERLAND                                          
|Common Stocks - continued                                  
|                                                           
|Taiwan - 0.7%                                              
|Taiwan Semiconductor Manufacturing Co. Ltd.                
|Turkey - 0.5%                                              
|Coca-Cola Icecek Sanayi A/S                                
|Tupras Turkiye Petrol Rafinelleri A/S                      
|TOTAL TURKEY                                               
|United Kingdom - 12.5%                                     
|Associated British Foods PLC                               
|Babcock International Group PLC                            
|BAE Systems PLC                                            
|Berendsen PLC                                              
|Informa PLC                                                
|InterContinental Hotel Group PLC ADR                       
|Johnson Matthey PLC                                        
|Lloyds Banking Group PLC                                   
|Prudential PLC                                             
|Reckitt Benckiser Group PLC                                
|Rolls-Royce Group PLC                                      
|SABMiller PLC                                              
|Shaftesbury PLC                                            
|Unite Group PLC                                            
|TOTAL UNITED KINGDOM                                       
|United States of America - 15.0%                           
|Autoliv, Inc. (d)                                          
|Berkshire Hathaway, Inc. Class B (a)                       
|BorgWarner, Inc.                                           
|Cummins, Inc.                                              
|Dril-Quip, Inc. (a)                                        
|FMC Technologies, Inc. (a)                                 
|Google, Inc. Class A (a)                                   
|Martin Marietta Materials, Inc.                            
|MasterCard, Inc. Class A                                   
|McGraw Hill Financial, Inc.                                
|Mead Johnson Nutrition Co. Class A                         
|Mohawk Industries, Inc. (a)                                
|Moody's Corp.                                              
|National Oilwell Varco, Inc.                               
|Oceaneering International, Inc.                            
|Philip Morris International, Inc.                          
|PriceSmart, Inc.                                           
|ResMed, Inc.                                               
|Common Stocks - continued                                  
|                                                           
|United States of America - continued                       
|Solera Holdings, Inc.                                      
|SS&C Technologies Holdings, Inc.                           
|Union Pacific Corp.                                        
|Visa, Inc. Class A                                         
|TOTAL UNITED STATES OF AMERICA                             
|TOTAL COMMON STOCKS
(Cost $1,027,694,550)                  
|Nonconvertible Preferred Stocks - 0.0%                     
|                                                           
|United Kingdom - 0.0%                                      
|Rolls-Royce Group PLC
(Cost $66,024)                       
|Money Market Funds - 5.2%                                  
|                                                           
|Fidelity Cash Central Fund, 0.15% (b)                      
|Fidelity Securities Lending Cash Central Fund, 0.17% (b)(c)
|TOTAL MONEY MARKET FUNDS
(Cost $62,769,332)                
|TOTAL INVESTMENT PORTFOLIO - 103.3%
(Cost $1,090,529,906)  
|NET OTHER ASSETS (LIABILITIES) - (3.3)%                    
|NET ASSETS - 100%                                          

|Legend                                                                                                                                                                                                                                                                                                                                                                                                                                           
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|(a)	Non-income producing                                                                                                                                                                                                                                                                                                                                                                                                                         
|(b)	Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.
|(c)	Investment made with cash collateral received from securities on loan.                                                                                                                                                                                                                                                                                                                                                                       
|(d)	Security or a portion of the security is on loan at period end.                                                                                                                                                                                                                                                                                                                                                                              
|Affiliated Central Funds                                                                                                                                                                                                                                                                                                                                                                                                                         
|Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:                                                                                                                                                                                                                                                                                                                    

|Fund                                          | Income earned
|--------------------------------------------- | -------------
|Fidelity Cash Central Fund                    | $	20,457     
|Fidelity Securities Lending Cash Central Fund | 88,876       
|Total                                         | $	109,333    

|Other Information                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|Categorizations in the Schedule of Investments are based on country or territory of incorporation.                                                                                                                                                                                                                                                                                                                                                                                             
|The following is a summary of the inputs used, as of April 30, 2015, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the tables below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

|Valuation Inputs at Reporting Date:
|-----------------------------------
|Description                        
|Investments in Securities:         
|Equities:                          
|Consumer Discretionary             
|Consumer Staples                   
|Energy                             
|Financials                         
|Health Care                        
|Industrials                        
|Information Technology             
|Materials                          
|Telecommunication Services         
|Money Market Funds                 
|Total Investments in Securities:   

|The following is a summary of transfers between Level 1 and Level 2 for the period ended April 30, 2015. Transfers are assumed to have occurred at the beginning of the period, and are primarily attributable to the valuation techniques used for foreign equity securities, as discussed in the accompanying Notes to Financial Statements:
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|Transfers          | Total        
|------------------ | -------------
|Level 1 to Level 2 | $	248,647,805
|Level 2 to Level 1 | $	41,812,143 

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

---

# Financial Statements

## Statement of Assets and Liabilities

|                                                                                                                                                        | April 30, 2015 (Unaudited)
|------------------------------------------------------------------------------------------------------------------------------------------------------- | --------------------------
|                                                                                                                                                        |                           
|Assets                                                                                                                                                  |                           
|Investment in securities, at value (including securities loaned of $27,233,266) - See accompanying schedule:
Unaffiliated issuers (cost $1,027,760,574) | $	1,188,895,297           
|Fidelity Central Funds (cost $62,769,332)                                                                                                               | 62,769,332                
|Total Investments (cost $1,090,529,906)                                                                                                                 |                           
|Receivable for investments sold                                                                                                                         |                           
|Receivable for fund shares sold                                                                                                                         |                           
|Dividends receivable                                                                                                                                    |                           
|Distributions receivable from Fidelity Central Funds                                                                                                    |                           
|Prepaid expenses                                                                                                                                        |                           
|Other receivables                                                                                                                                       |                           
|Total assets                                                                                                                                            |                           
|                                                                                                                                                        |                           
|Liabilities                                                                                                                                             |                           
|Payable for investments purchased                                                                                                                       | $	14,063,184              
|Payable for fund shares redeemed                                                                                                                        | 5,660,260                 
|Accrued management fee                                                                                                                                  | 691,109                   
|Distribution and service plan fees payable                                                                                                              | 78,455                    
|Other affiliated payables                                                                                                                               | 223,662                   
|Other payables and accrued expenses                                                                                                                     | 182,973                   
|Collateral on securities loaned, at value                                                                                                               | 28,799,550                
|Total liabilities                                                                                                                                       |                           
|                                                                                                                                                        |                           
|Net Assets                                                                                                                                              |                           
|Net Assets consist of:                                                                                                                                  |                           
|Paid in capital                                                                                                                                         |                           
|Undistributed net investment income                                                                                                                     |                           
|Accumulated undistributed net realized gain (loss) on investments and foreign currency transactions                                                     |                           
|Net unrealized appreciation (depreciation) on investments and assets and liabilities in foreign currencies                                              |                           
|Net Assets                                                                                                                                              |                           

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

Financial Statements - continued

## Statement of Assets and Liabilities - continued

|                                                                                                                                | April 30, 2015 (Unaudited)
|------------------------------------------------------------------------------------------------------------------------------- | --------------------------
|                                                                                                                                |                           
|Calculation of Maximum Offering Price
Class A:
Net Asset Valueand redemption price per share ($146,479,182 ÷ 12,542,743 shares) |                           
|                                                                                                                                |                           
|Maximum offering price per share (100/94.25 of $11.68)                                                                          |                           
|Class T:
Net Asset Value and redemption price per share ($24,745,240 ÷ 2,122,363 shares)                                        |                           
|                                                                                                                                |                           
|Maximum offering price per share (100/96.50 of $11.66)                                                                          |                           
|Class B:
Net Asset Value and offering price per share ($930,198 ÷ 80,307 shares)A                                               |                           
|                                                                                                                                |                           
|Class C:
Net Asset Value and offering price per share ($42,955,244 ÷ 3,720,744 shares)A                                         |                           
|                                                                                                                                |                           
|International Growth:
Net Asset Value, offering price and redemption price per share ($791,049,158 ÷ 67,306,562 shares)         |                           
|                                                                                                                                |                           
|Institutional Class:
Net Asset Value, offering price and redemption price per share ($204,971,698 ÷ 17,470,190 shares)          |                           
|                                                                                                                                |                           
|Class Z:
Net Asset Value, offering price and redemption price per share ($95,504 ÷ 8,131 shares)                                |                           

ARedemption price per share is equal to net asset value less any applicable contingent deferred sales charge.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Statement of Operations

|Six months ended April 30, 2015 (Unaudited)                                                                                           
|--------------------------------------------------------------------------------------------------------------------------------------
|                                                                                                                                      
|Investment Income                                                                                                                     
|Dividends                                                                                                                             
|Income from Fidelity Central Funds                                                                                                    
|Income before foreign taxes withheld                                                                                                  
|Less foreign taxes withheld                                                                                                           
|Total income                                                                                                                          
|                                                                                                                                      
|Expenses                                                                                                                              
|Management fee
Basic fee                                                                                                              
|Performance adjustment                                                                                                                
|Transfer agent fees                                                                                                                   
|Distribution and service plan fees                                                                                                    
|Accounting and security lending fees                                                                                                  
|Custodian fees and expenses                                                                                                           
|Independent trustees' compensation                                                                                                    
|Registration fees                                                                                                                     
|Audit                                                                                                                                 
|Legal                                                                                                                                 
|Miscellaneous                                                                                                                         
|Total expenses before reductions                                                                                                      
|Expense reductions                                                                                                                    
|Net investment income (loss)                                                                                                          
|Realized and Unrealized Gain (Loss)
Net realized gain (loss) on:                                                                      
|Investment securities:                                                                                                                
|Unaffiliated issuers                                                                                                                  
|Foreign currency transactions                                                                                                         
|Total net realized gain (loss)                                                                                                        
|Change in net unrealized appreciation (depreciation) on:
Investment securities (net of increase in deferred foreign taxes of $107,830)
|Assets and liabilities in foreign currencies                                                                                          
|Total change in net unrealized appreciation (depreciation)                                                                            
|Net gain (loss)                                                                                                                       
|Netincrease (decrease) in net assets resulting from operations                                                                        

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

Financial Statements - continued

## Statement of Changes in Net Assets

|                                                                                                                                                | Six months ended
April 30, 2015
(Unaudited) | Year ended
October 31,
2014
|----------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------------------- | ---------------------------
|Increase (Decrease) in Net Assets                                                                                                               |                                             |                            
|Operations                                                                                                                                      |                                             |                            
|Net investment income (loss)                                                                                                                    | $	5,808,268                                 | $	8,064,649                
|Net realized gain (loss)                                                                                                                        | (9,407,311)                                 | (8,929,624)                
|Change in net unrealized appreciation (depreciation)                                                                                            | 72,356,857                                  | 17,872,842                 
|Netincrease (decrease) in net assets resulting
from operations                                                                                  | 68,757,814                                  | 17,007,867                 
|Distributions to shareholders from net investment income                                                                                        | (7,019,920)                                 | (2,592,643)                
|Distributions to shareholders from net realized gain                                                                                            | -                                           | (513,441)                  
|Total distributions                                                                                                                             | (7,019,920)                                 | (3,106,084)                
|Share transactions - net increase (decrease)                                                                                                    | 212,672,136                                 | 336,569,228                
|Redemption fees                                                                                                                                 | 25,087                                      | 42,228                     
|Total increase (decrease) in net assets                                                                                                         | 274,435,117                                 | 350,513,239                
|                                                                                                                                                |                                             |                            
|Net Assets                                                                                                                                      |                                             |                            
|Beginning of period                                                                                                                             | 936,791,107                                 | 586,277,868                
|End of period (including undistributed net investment income of $5,618,110 and undistributed net investment income of $6,829,762, respectively) | $	1,211,226,224                             | $	936,791,107              

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - Class A

|                                             | Six months ended
April 30, 2015 | Years ended October 31,
|-------------------------------------------- | ------------------------------- | -----------------------
|                                             | (Unaudited)                     | 2014                   
|Selected Per-Share Data                      |                                 |                        
|Net asset value, beginning of period         | $	11.01                         | $	10.78                
|Income from Investment Operations            |                                 |                        
|Net investment income (loss)E                | .05                             | .09                    
|Net realized and unrealized gain (loss)      | .68                             | .18                    
|Total from investment operations             | .73                             | .27                    
|Distributions from net investment income     | (.06)                           | (.03)                  
|Distributions from net realized gain         | -                               | (.01)                  
|Total distributions                          | (.06)                           | (.04)                  
|Redemption fees added to paid in capitalE, I | -                               | -                      
|Net asset value, end of period               | $	11.68                         | $	11.01                
|Total ReturnB, C, D                          | 6.67%                           | 2.54%                  
|Ratios to Average Net AssetsF, H             |                                 |                        
|Expenses before reductions                   | 1.28%A                          | 1.35%                  
|Expenses net of fee waivers, if any          | 1.28%A                          | 1.35%                  
|Expenses net of all reductions               | 1.28%A                          | 1.34%                  
|Net investment income (loss)                 | .95%A                           | .84%                   
|Supplemental Data                            |                                 |                        
|Net assets, end of period (000 omitted)      | $	146,479                       | $	119,017              
|Portfolio turnover rate G                    | 23%A                            | 27%                    

AAnnualized

BTotal returns for periods of less than one year are not annualized.

CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

DTotal returns do not include the effect of the sales charges.

ECalculated based on average shares outstanding during the period.

FFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.

GAmount does not include the portfolio activity of any underlying Fidelity Central Funds.

HExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.

IAmount represents less than $.01 per share.

JTotal distributions of $.07 per share is comprised of distributions from net investment income of $.046 and distributions from net realized gain of $.025 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - Class T

|                                             | Six months ended
April 30, 2015 | Years ended October 31,
|-------------------------------------------- | ------------------------------- | -----------------------
|                                             | (Unaudited)                     | 2014                   
|Selected Per-Share Data                      |                                 |                        
|Net asset value, beginning of period         | $	10.96                         | $	10.75                
|Income from Investment Operations            |                                 |                        
|Net investment income (loss)E                | .03                             | .06                    
|Net realized and unrealized gain (loss)      | .68                             | .18                    
|Total from investment operations             | .71                             | .24                    
|Distributions from net investment income     | (.01)                           | (.02)                  
|Distributions from net realized gain         | -                               | (.01)                  
|Total distributions                          | (.01)                           | (.03)                  
|Redemption fees added to paid in capitalE, I | -                               | -                      
|Net asset value, end of period               | $	11.66                         | $	10.96                
|Total ReturnB, C, D                          | 6.50%                           | 2.21%                  
|Ratios to Average Net AssetsF, H             |                                 |                        
|Expenses before reductions                   | 1.60%A                          | 1.65%                  
|Expenses net of fee waivers, if any          | 1.60%A                          | 1.65%                  
|Expenses net of all reductions               | 1.60%A                          | 1.65%                  
|Net investment income (loss)                 | .63%A                           | .53%                   
|Supplemental Data                            |                                 |                        
|Net assets, end of period (000 omitted)      | $	24,745                        | $	26,369               
|Portfolio turnover rate G                    | 23%A                            | 27%                    

AAnnualized

BTotal returns for periods of less than one year are not annualized.

CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

DTotal returns do not include the effect of the sales charges.

ECalculated based on average shares outstanding during the period.

FFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.

GAmount does not include the portfolio activity of any underlying Fidelity Central Funds.

HExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.

IAmount represents less than $.01 per share.

JTotal distributions of $.07 per share is comprised of distributions from net investment income of $ .069 and distributions from net realized gain of $.005 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - Class B

|                                             | Six months ended
April 30, 2015 | Years ended October 31,
|-------------------------------------------- | ------------------------------- | -----------------------
|                                             | (Unaudited)                     | 2014                   
|Selected Per-Share Data                      |                                 |                        
|Net asset value, beginning of period         | $	10.91                         | $	10.73                
|Income from Investment Operations            |                                 |                        
|Net investment income (loss)E                | .01                             | -I                     
|Net realized and unrealized gain (loss)      | .66                             | .19                    
|Total from investment operations             | .67                             | .19                    
|Distributions from net investment income     | -                               | -                      
|Distributions from net realized gain         | -                               | (.01)                  
|Total distributions                          | -                               | (.01)                  
|Redemption fees added to paid in capitalE, I | -                               | -                      
|Net asset value, end of period               | $	11.58                         | $	10.91                
|Total ReturnB, C, D                          | 6.14%                           | 1.76%                  
|Ratios to Average Net AssetsF, H             |                                 |                        
|Expenses before reductions                   | 2.06%A                          | 2.14%                  
|Expenses net of fee waivers, if any          | 2.06%A                          | 2.14%                  
|Expenses net of all reductions               | 2.06%A                          | 2.14%                  
|Net investment income (loss)                 | .16%A                           | .04%                   
|Supplemental Data                            |                                 |                        
|Net assets, end of period (000 omitted)      | $	930                           | $	1,404                
|Portfolio turnover rate G                    | 23%A                            | 27%                    

AAnnualized

BTotal returns for periods of less than one year are not annualized.

CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

DTotal returns do not include the effect of the contingent deferred sales charge.

ECalculated based on average shares outstanding during the period.

FFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.

GAmount does not include the portfolio activity of any underlying Fidelity Central Funds.

HExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.

IAmount represents less than $.01 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - Class C

|                                             | Six months ended
April 30, 2015 | Years ended October 31,
|-------------------------------------------- | ------------------------------- | -----------------------
|                                             | (Unaudited)                     | 2014                   
|Selected Per-Share Data                      |                                 |                        
|Net asset value, beginning of period         | $	10.87                         | $	10.69                
|Income from Investment Operations            |                                 |                        
|Net investment income (loss)E                | .01                             | .01                    
|Net realized and unrealized gain (loss)      | .66                             | .18                    
|Total from investment operations             | .67                             | .19                    
|Distributions from net investment income     | -                               | -                      
|Distributions from net realized gain         | -                               | (.01)                  
|Total distributions                          | -                               | (.01)                  
|Redemption fees added to paid in capitalE, I | -                               | -                      
|Net asset value, end of period               | $	11.54                         | $	10.87                
|Total ReturnB, C, D                          | 6.16%                           | 1.77%                  
|Ratios to Average Net AssetsF, H             |                                 |                        
|Expenses before reductions                   | 2.09%A                          | 2.12%                  
|Expenses net of fee waivers, if any          | 2.09%A                          | 2.12%                  
|Expenses net of all reductions               | 2.08%A                          | 2.12%                  
|Net investment income (loss)                 | .14%A                           | .06%                   
|Supplemental Data                            |                                 |                        
|Net assets, end of period (000 omitted)      | $	42,955                        | $	32,737               
|Portfolio turnover rate G                    | 23%A                            | 27%                    

AAnnualized

BTotal returns for periods of less than one year are not annualized.

CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

DTotal returns do not include the effect of the contingent deferred sales charge.

ECalculated based on average shares outstanding during the period.

FFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.

GAmount does not include the portfolio activity of any underlying Fidelity Central Funds.

HExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.

IAmount represents less than $.01 per share.

JTotal distributions of $.01 per share is comprised of distributions from net investment income of $.008 and distributions from net realized gain of
$.005 per share.

KTotal distributions of $.01 per share is comprised of distributions from net investment income of $.007 and distributions from net realized gain of $.006 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - International Growth

|                                             | Six months ended
April 30, 2015 | Years ended October 31,
|-------------------------------------------- | ------------------------------- | -----------------------
|                                             | (Unaudited)                     | 2014                   
|Selected Per-Share Data                      |                                 |                        
|Net asset value, beginning of period         | $	11.10                         | $	10.84                
|Income from Investment Operations            |                                 |                        
|Net investment income (loss)D                | .07                             | .13                    
|Net realized and unrealized gain (loss)      | .67                             | .19                    
|Total from investment operations             | .74                             | .32                    
|Distributions from net investment income     | (.09)                           | (.05)                  
|Distributions from net realized gain         | -                               | (.01)                  
|Total distributions                          | (.09)                           | (.06)                  
|Redemption fees added to paid in capitalD, H | -                               | -                      
|Net asset value, end of period               | $	11.75                         | $	11.10                
|Total ReturnB, C                             | 6.72%                           | 2.96%                  
|Ratios to Average Net AssetsE, G             |                                 |                        
|Expenses before reductions                   | 1.00%A                          | 1.04%                  
|Expenses net of fee waivers, if any          | 1.00%A                          | 1.04%                  
|Expenses net of all reductions               | 1.00%A                          | 1.04%                  
|Net investment income (loss)                 | 1.23%A                          | 1.14%                  
|Supplemental Data                            |                                 |                        
|Net assets, end of period (000 omitted)      | $	791,049                       | $	635,607              
|Portfolio turnover rateF                     | 23%A                            | 27%                    

AAnnualized

BTotal returns for periods of less than one year are not annualized.

CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

DCalculated based on average shares outstanding during the period.

EFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.

FAmount does not include the portfolio activity of any underlying Fidelity Central Funds.

GExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.

HAmount represents less than $.01 per share.

ITotal distributions of $.08 per share is comprised of distributions from net investment income of $.057 and distributions from net realized gain of $.025 per share.

JTotal distributions of $.10 per share is comprised of distributions from net investment income of $.097 and distributions from net realized gain of $.005 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - Institutional Class

|                                             | Six months ended
April 30, 2015 | Years ended October 31,
|-------------------------------------------- | ------------------------------- | -----------------------
|                                             | (Unaudited)                     | 2014                   
|Selected Per-Share Data                      |                                 |                        
|Net asset value, beginning of period         | $	11.08                         | $	10.84                
|Income from Investment Operations            |                                 |                        
|Net investment income (loss)D                | .07                             | .13                    
|Net realized and unrealized gain (loss)      | .68                             | .18                    
|Total from investment operations             | .75                             | .31                    
|Distributions from net investment income     | (.10)                           | (.06)                  
|Distributions from net realized gain         | -                               | (.01)                  
|Total distributions                          | (.10)                           | (.07)                  
|Redemption fees added to paid in capitalD, H | -                               | -                      
|Net asset value, end of period               | $	11.73                         | $	11.08                
|Total ReturnB, C                             | 6.78%                           | 2.84%                  
|Ratios to Average Net AssetsE, G             |                                 |                        
|Expenses before reductions                   | 1.00%A                          | 1.04%                  
|Expenses net of fee waivers, if any          | 1.00%A                          | 1.04%                  
|Expenses net of all reductions               | 1.00%A                          | 1.04%                  
|Net investment income (loss)                 | 1.23%A                          | 1.14%                  
|Supplemental Data                            |                                 |                        
|Net assets, end of period (000 omitted)      | $	204,972                       | $	121,554              
|Portfolio turnover rate F                    | 23%A                            | 27%                    

AAnnualized

BTotal returns for periods of less than one year are not annualized.

CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

DCalculated based on average shares outstanding during the period.

EFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.

FAmount does not include the portfolio activity of any underlying Fidelity Central Funds.

GExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.

HAmount represents less than $.01 per share.

ITotal distributions of $.08 per share is comprised of distributions from net investment income of $.057 and distributions from net realized gain of $.025 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - Class Z

|                                             | Six months ended
April 30, 2015 | Years ended
October 31,
|-------------------------------------------- | ------------------------------- | -----------------------
|                                             | (Unaudited)                     | 2014                   
|Selected Per-Share Data                      |                                 |                        
|Net asset value, beginning of period         | $	11.10                         | $	10.84                
|Income from Investment Operations            |                                 |                        
|Net investment income (loss)D                | .08                             | .14                    
|Net realized and unrealized gain (loss)      | .68                             | .19                    
|Total from investment operations             | .76                             | .33                    
|Distributions from net investment income     | (.11)                           | (.06)                  
|Distributions from net realized gain         | -                               | (.01)                  
|Total distributions                          | (.11)                           | (.07)                  
|Redemption fees added to paid in capitalD, I | -                               | -                      
|Net asset value, end of period               | $	11.75                         | $	11.10                
|Total ReturnB, C                             | 6.89%                           | 3.07%                  
|Ratios to Average Net AssetsE, H             |                                 |                        
|Expenses before reductions                   | .87%A                           | .88%                   
|Expenses net of fee waivers, if any          | .87%A                           | .88%                   
|Expenses net of all reductions               | .87%A                           | .88%                   
|Net investment income (loss)                 | 1.36%A                          | 1.30%                  
|Supplemental Data                            |                                 |                        
|Net assets, end of period (000 omitted)      | $	96                            | $	104                  
|Portfolio turnover rateF                     | 23%A                            | 27%                    

AAnnualized

BTotal returns for periods of less than one year are not annualized.

CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

DCalculated based on average shares outstanding during the period.

EFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.

FAmount does not include the portfolio activity of any underlying Fidelity Central Funds.

GFor the period August 13, 2013 (commencement of sale of shares) to October 31, 2013.

HExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.

IAmount represents less than $.01 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

---

# Notes to Financial Statements

For the period ended April 30, 2015 (Unaudited)

1. Organization.

Fidelity® International Growth Fund (the Fund) is a fund of Fidelity Investment Trust (the Trust) and is authorized to issue an unlimited number of shares. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Massachusetts business trust. The Fund offers Class A, Class T,  Class C, International Growth, Institutional Class and Class Z shares, each of which, along with Class B shares, has equal rights as to assets and voting privileges.  Class B shares are closed to new accounts and additional purchases, except for exchanges and reinvestments. Each class has exclusive voting rights with respect to matters that affect that class. Class B shares will automatically convert to Class A shares after a holding period of seven years from the initial date of purchase.

2. Investments in Fidelity Central Funds.

The Fund invests in Fidelity Central Funds, which are open-end investment companies generally available only to other investment companies and accounts managed by  the investment adviser and its affiliates. The Fund's Schedule of Investments lists each of the Fidelity Central Funds held as of period end, if any, as an investment of the Fund, but does not include the underlying holdings of each Fidelity Central Fund. As an Investing Fund, the Fund indirectly bears its proportionate share of the expenses of the underlying Fidelity Central Funds.

The Money Market Central Funds seek preservation of capital and current income and are managed by Fidelity Investments Money Management, Inc. (FIMM), an affiliate of the investment adviser. Annualized expenses of the Money Market Central Funds as of their most recent shareholder report date are less than .01%.

A complete unaudited list of holdings for each Fidelity Central Fund is available upon request or at the Securities and Exchange Commission (the SEC) website at www.sec.gov. In addition, the financial statements of the Fidelity Central Funds are available on the SEC website or upon request.

3. Significant Accounting Policies.

The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP), which require management to make certain estimates and assumptions at the date of the financial statements. Actual results could differ from those estimates. Subsequent events, if any, through the date that the financial statements were issued have been evaluated in the preparation of

Semiannual Report

3. Significant Accounting Policies - continued

the financial statements. The following summarizes the significant accounting policies of the Fund:

Investment Valuation.Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. The Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fidelity Management & Research Company (FMR) Fair Value Committee (the Committee). In accordance with valuation policies and procedures approved by the Board, the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund's valuation policies and procedures and reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee.

The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels as shown below:

Level 1 - quoted prices in active markets for identical investments

Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, etc.)

Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available)

Valuation techniques used to value the Fund's investments by major category are as follows:

Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing vendor on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs),

Semiannual Report

Notes to Financial Statements (Unaudited) - continued

3. Significant Accounting Policies - continued

Investment Valuation - continued

futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. Utilizing these techniques may result in transfers between Level 1 and Level 2. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy.

Investments in open-end mutual funds ,including the Fidelity Central Funds, are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy.

Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. The aggregate value of investments by input level, as of April 30, 2015, including information on transfers between Levels 1 and 2, is included at the end of the Fund's  Schedule of Investments.

Foreign Currency.The Fund may use foreign currency contracts to facilitate transactions in foreign-denominated securities. Gains and losses from these transactions may arise from changes in the value of the foreign currency or if the counterparties do not perform under the contracts' terms.

Foreign-denominated assets, including investment securities, and liabilities are translated into U.S. dollars at the exchange rates at period end. Purchases and sales of investment securities, income and dividends received and expenses denominated in foreign currencies are translated into U.S. dollars at the exchange rate in effect on the transaction date.

The effects of exchange rate fluctuations on investments are included with the net realized and unrealized gain (loss) on investment securities. Other foreign currency transactions resulting in realized and unrealized gain (loss) are disclosed separately.

Investment Transactions and Income.For financial reporting purposes, the Fund's investment holdings and NAV include trades executed through the end of the last business day of the period. The NAV per share for processing shareholder transactions is calculated as of the close of business of the New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time and includes trades executed through the end of the prior business day. Gains and losses on securities sold are determined on the basis of identified cost and may include proceeds received from litigation. Dividend income is recorded on the ex-dividend date, except for certain dividends from foreign securities where the ex-dividend date may have passed, which are recorded as soon as the Fund is informed of the ex-dividend date. Non-cash dividends included in dividend income, if any, are

Semiannual Report

3. Significant Accounting Policies - continued

Investment Transactions and Income - continued

recorded at the fair market value of the securities received. Income and capital gain distributions from Fidelity Central Funds, if any, are recorded on the ex-dividend date. Investment income is recorded net of foreign taxes withheld where recovery of such taxes is uncertain.

Class Allocations andExpenses. Investment income, realized and unrealized capital gains and losses, common expenses of the Fund, and certain fund-level expense reductions, if any, are allocated daily on a pro-rata basis to each class based on the relative net assets of each class to the total net assets of the Fund. Each class differs with respect to transfer agent and distribution and service plan fees incurred. Certain expense reductions may also differ by class. For the reporting period, the allocated portion of income and expenses to each class as a percent of its average net assets may vary due to the timing of recording these transactions in relation to fluctuating net assets of the classes. Expenses directly attributable to a fund are charged to that fund. Expenses attributable to more than one fund are allocated among the respective funds on the basis of relative net assets or other appropriate methods.  Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.

Income Tax Information and Distributions to Shareholders. Each year, the Fund intends to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code, including distributing substantially all of its taxable income and realized gains. As a result, no provision for U.S. Federal income taxes is required. The Fund files a U.S. federal tax return, in addition to state and local tax returns as required. The Fund's federal income tax returns are subject to examination by the Internal Revenue Service (IRS) for a period of three fiscal years after they are filed. State and local tax returns may be subject to examination for an additional fiscal year depending on the jurisdiction. Foreign taxes are provided for based on the Fund's understanding of the tax rules and rates that exist in the foreign markets in which it invests. The Fund is subject to a tax imposed on capital gains by certain countries in which it invests. An estimated deferred tax liability for net unrealized appreciation on the applicable securities is included in Other payables and accrued expenses on the Statement of Assets & Liabilities.

Distributions are declared and recorded on the ex-dividend date. Income dividends and capital gain distributions are declared separately for each class. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP.

Capital accounts within the financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations.

Semiannual Report

Notes to Financial Statements (Unaudited) - continued

3. Significant Accounting Policies - continued

Income Tax Information and Distributions to Shareholders - continued

Capital accounts are not adjusted for temporary book-tax differences which will reverse in a subsequent period.

Book-tax differences are primarily due to foreign currency transactions, passive foreign investment companies (PFIC), partnerships, capital loss carryforwards and losses deferred due to wash sales.

The federal tax cost of investment securities and unrealized appreciation (depreciation) as of period end were as follows:

|Gross unrealized appreciation                            | $	176,980,396  
|-------------------------------------------------------- | ---------------
|Gross unrealized depreciation                            | (17,086,885)   
|Net unrealized appreciation (depreciation) on securities | $	159,893,511  
|                                                         |                
|Tax cost                                                 | $	1,091,771,118

Capital loss carryforwards are only available to offset future capital gains of the Fund to the extent provided by regulations and may be limited. Under the Regulated Investment Company Modernization Act of 2010 (the Act), the Fund is permitted to carry forward capital losses incurred in taxable years beginning after December 22, 2010 for an unlimited period and such capital losses are required to be used prior to any losses that expire.  The capital loss carryforward information presented below, including any applicable limitation, is estimated as of prior fiscal period end and is subject to adjustment.

|No expiration       |            
|------------------- | -----------
|Short-term          | (7,236,154)
|Long-term           | (1,281,020)
|Total no expiration | (8,517,174)

Short-Term Trading (Redemption) Fees. Shares held by investors in the Fund less than 30 days may have been subject to a redemption fee equal to 1.00% of the NAV of shares redeemed. All redemption fees, which reduce the proceeds of the shareholder redemption, are retained by the Fund and accounted for as an addition to paid in capital.

New Accounting Pronouncement.In June 2014, the Financial Accounting Standards Board issued Accounting Standard Update No. 2014-11, Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures (the Update). The Update amends the accounting for certain repurchase agreements and expands disclosure requirements for reverse repurchase agreements, securities lending and other similar transactions. The disclosure requirements are effective for annual and interim reporting periods beginning after December 15, 2014. Management is currently evaluating the impact of the Update on the Fund's financial statements and related disclosures.

Semiannual Report

4. Purchases and Sales of Investments.

Purchases and sales of securities, other than short-term securities, aggregated $333,149,467 and $113,267,857, respectively.

5. Fees and Other Transactions with Affiliates.

Management Fee. FMR (the investment adviser)  and its affiliates provide the Fund with investment management related services for which the Fund pays a monthly management fee. The management fee is the sum of an individual fund fee rate that is based on an annual rate of .45% of the Fund's average net assets and an annualized group fee rate that averaged .25% during the period. The group fee rate is based upon the average net assets of all the mutual funds advised by the investment adviser, including any mutual funds previously advised by the investment adviser that are currently advised by Fidelity SelectCo, LLC, an affiliate of the investment adviser. The group fee rate decreases as assets under management increase and increases as assets under management decrease. In addition, the management fee is subject to a performance adjustment  (up to a maximum of ± .xx% of the Fund's average net assets over a 36 month performance period). The upward or downward adjustment to the management fee is based on the relative investment performance of International Growth as compared to its benchmark index, the MSCI EAFE Growth Index, over the same 36 month performance period. For the reporting period, the total annualized management fee rate, including the performance adjustment, was .73% of the Fund's average net assets. The performance adjustment included in the management fee rate may be higher or lower than the maximum performance adjustment rate due to the difference between the average net assets for the reporting and performance periods.

Distribution and Service Plan Fees. In accordance with Rule 12b-1 of the 1940 Act, the Fund has adopted separate Distribution and Service Plans for each class of shares. Certain classes pay Fidelity Distributors Corporation (FDC), an affiliate of the investment adviser, separate Distribution and Service Fees, each of which is based on an annual percentage of each class' average net assets. In addition, FDC may pay financial intermediaries for selling shares of the Fund and providing shareholder support services. For the period, the Distribution and Service Fee rates, total fees and amounts retained by FDC were as follows:

|        | Distribution
Fee | Service
Fee | Total Fees | Retained
by FDC
|------- | ---------------- | ----------- | ---------- | ---------------
|Class A | -%               | .25%        | $	164,169  | $	6,099        
|Class T | .25%             | .25%        | 68,217     | 1,156          
|Class B | .75%             | .25%        | 6,444      | 4,861          
|Class C | .75%             | .25%        | 175,032    | 57,103         
|        |                  |             | $	413,862  | $	69,219       

Semiannual Report

Notes to Financial Statements (Unaudited) - continued

5. Fees and Other Transactions with Affiliates - continued

Sales Load. FDC may receive a front-end sales charge of up to 5.75% for selling Class A shares and 3.50% for selling Class T shares, some of which is paid to financial intermediaries for selling shares of the Fund. Depending on the holding period, FDC may receive contingent deferred sales charges levied on Class A, Class T, Class B, and Class C redemptions. The deferred sales charges range from 5.00% to 1.00% for Class B shares, 1.00% for Class C shares, 1.00% for certain purchases of Class A shares and .25% for certain purchases of Class T shares.

For the period, sales charge amounts retained by FDC were as follows:

|         | Retained
by FDC
|-------- | ---------------
|Class A  | $	47,114       
|Class T  | 7,615          
|Class B* | 218            
|Class C* | 2,684          
|         | $	57,631       

*	When Class B and Class C shares are initially sold, FDC pays commissions from its own resources to financial intermediaries through which the sales are made.

Transfer Agent Fees.Fidelity Investments Institutional Operations Company, Inc., (FIIOC), an affiliate of the investment adviser, is the transfer, dividend disbursing and shareholder servicing agent for each class of the Fund. FIIOC receives account fees and asset-based fees that vary according to the account size and type of account of the shareholders of the respective classes of the Fund, except for Class Z. FIIOC receives an asset-based fee of Class Z's average net assets. FIIOC pays for typesetting, printing and mailing of shareholder reports, except proxy statements.

For the period, transfer agent fees for each class were as follows:

|                     | Amount      | % of
Class-Level Average
Net Assets*
|-------------------- | ----------- | ------------------------------------
|Class A              | $	142,394   | .22                                 
|Class T              | 39,333      | .29                                 
|Class B              | 1,596       | .25                                 
|Class C              | 48,190      | .27                                 
|International Growth | 633,070     | .19                                 
|Institutional Class  | 138,698     | .19                                 
|Class Z              | 26          | .05                                 
|                     | $	1,003,307 |                                     

*Annualized

Semiannual Report

5. Fees and Other Transactions with Affiliates - continued

Accounting and Security Lending Fees.Fidelity Service Company, Inc. (FSC), an affiliate of the investment adviser, maintains the Fund's accounting records. The accounting fee is based on the level of average net assets for each month. Under a separate contract, FSC administers the security lending program. The security lending fee is based on the number and duration of lending transactions.

Brokerage Commissions.The Fund placed a portion of its portfolio transactions with brokerage firms which are affiliates of the investment adviser. Brokerage commissions are included in net realized gain (loss) and change in net unrealized appreciation (depreciation) in the Statement of Operations. The commissions paid to these affiliated firms were $525 for the period.

6. Committed Line of Credit.

The Fund participates with other funds managed by the investment adviser or an affiliate in a $4.25 billion credit facility (the "line of credit") to be utilized for temporary or emergency purposes to fund shareholder redemptions or for other short-term liquidity purposes. The Fund has agreed to pay commitment fees on its pro-rata portion of the line of credit, which amounted to $764 and is reflected in Miscellaneous expenses on the Statement of Operations. During the period, the Fund did not borrow on this line of credit.

7. Security Lending.

The Fund lends portfolio securities through a lending agent from time to time in order to earn additional income. For equity securities, a lending agent is used and may loan securities to certain qualified borrowers, including Fidelity Capital Markets (FCM), a broker-dealer affiliated with the Fund. On the settlement date of the loan, the Fund receives collateral (in the form of U.S. Treasury obligations, letters of credit and/or cash) against the loaned securities and maintains collateral in an amount not less than 100% of the market value of the loaned securities during the period of the loan. The market value of the loaned securities is determined at the close of business of the Fund and any additional required collateral is delivered to the Fund on the next business day. If the borrower defaults on its obligation to return the securities loaned because of insolvency or other reasons, the Fund may apply collateral received from the borrower against the obligation. The Fund may experience delays and costs in recovering the securities loaned. Any cash collateral received is invested in the Fidelity Securities Lending Cash Central Fund. The value of loaned securities and cash collateral at period end are disclosed on the Fund's Statement of Assets and Liabilities. Security lending income represents the income earned on investing cash collateral, less rebates paid to borrowers

Semiannual Report

Notes to Financial Statements (Unaudited) - continued

7. Security Lending - continued

and any lending agent fees associated with the loan, plus any premium payments received for lending certain types of securities. Security lending income is presented in the Statement of Operations as a component of income from Fidelity Central Funds. Total security lending income during the period amounted to $88,876, including $2,973 from securities loaned to FCM.

8. Expense Reductions.

Commissions paid to certain brokers with whom the investment adviser, or its affiliates, places trades on behalf of the Fund include an amount in addition to trade execution, which may be rebated back to the Fund to offset certain expenses. This amount totaled $5,164 for the period. In addition, through arrangements with the Fund's custodian, credits realized as a result of uninvested cash balances were used to reduce the Fund's expenses. During the period, these credits reduced the Fund's custody expenses by $4.

In addition, the investment adviser reimbursed a portion of the Fund's operating expenses, including certain International Growth expenses during the period in the amount of $449.

9. Distributions to Shareholders.

Distributions to shareholders of each class were as follows:

|                           | Six months ended
April 30,
2015 | Year ended
October 31,
2014
|-------------------------- | ------------------------------- | ---------------------------
|From net investment income |                                 |                            
|Class A                    | $	684,921                       | $	253,092                  
|Class T                    | 29,128                          | 40,595                     
|International Growth       | 5,239,951                       | 2,051,403                  
|Institutional Class        | 1,064,912                       | 246,949                    
|Class Z                    | 1,008                           | 604                        
|Total                      | $	7,019,920                     | $	2,592,643                
|From net realized gain     |                                 |                            
|Class A                    | $	-                             | $	66,995                   
|Class T                    | -                               | 20,298                     
|Class B                    | -                               | 1,337                      
|Class C                    | -                               | 16,479                     
|International Growth       | -                               | 369,252                    
|Institutional Class        | -                               | 38,992                     
|Class Z                    | -                               | 88                         
|Total                      | $	-                             | $	513,441                  

Semiannual Report

10. Share Transactions.

Share transactions for each class were as follows and may contain automatic conversions between classes or exchanges between funds:

|                              | Shares                          | Dollars                    
|----------------------------- | ------------------------------- | ---------------------------
|                              | Six months ended
April 30,
2015 | Year ended
October 31,
2014
|Class A                       |                                 |                            
|Shares sold                   | 3,857,656                       | 6,584,484                  
|Reinvestment of distributions | 60,571                          | 27,068                     
|Shares redeemed               | (2,182,030)                     | (2,724,911)                
|Net increase (decrease)       | 1,736,197                       | 3,886,641                  
|Class T                       |                                 |                            
|Shares sold                   | 559,535                         | 834,072                    
|Reinvestment of distributions | 2,593                           | 5,459                      
|Shares redeemed               | (844,626)                       | (585,464)                  
|Net increase (decrease)       | (282,498)                       | 254,067                    
|Class B                       |                                 |                            
|Shares sold                   | 14,946                          | 35,020                     
|Reinvestment of distributions | -                               | 123                        
|Shares redeemed               | (63,374)                        | (53,583)                   
|Net increase (decrease)       | (48,428)                        | (18,440)                   
|Class C                       |                                 |                            
|Shares sold                   | 1,137,803                       | 1,827,859                  
|Reinvestment of distributions | -                               | 1,498                      
|Shares redeemed               | (428,330)                       | (426,678)                  
|Net increase (decrease)       | 709,473                         | 1,402,679                  
|International Growth          |                                 |                            
|Shares sold                   | 15,407,407                      | 27,835,093                 
|Reinvestment of distributions | 387,169                         | 197,948                    
|Shares redeemed               | (5,762,096)                     | (10,494,762)               
|Net increase (decrease)       | 10,032,480                      | 17,538,279                 
|Institutional Class           |                                 |                            
|Shares sold                   | 9,272,246                       | 10,292,704                 
|Reinvestment of distributions | 92,581                          | 24,180                     
|Shares redeemed               | (2,861,661)                     | (2,927,192)                
|Net increase (decrease)       | 6,503,166                       | 7,389,692                  
|Class Z                       |                                 |                            
|Reinvestment of distributions | 91                              | 64                         
|Shares redeemed               | (1,296)                         | (475)                      
|Net increase (decrease)       | (1,205)                         | (411)                      

Semiannual Report

Notes to Financial Statements (Unaudited) - continued

11. Other.

The Fund's organizational documents provide former and current trustees and officers with a limited indemnification against liabilities arising in connection with the performance of their duties to the Fund. In the normal course of business, the Fund may also enter into contracts that provide general indemnifications. The Fund's maximum exposure under these arrangements is unknown as this would be dependent on future claims that may be made against the Fund. The risk of material loss from such claims is considered remote.

Semiannual Report

Investment Adviser

Fidelity Management & Research Company
Boston, MA

Investment Sub-Advisers

FMR Co., Inc.

FMR Investment Management
(U.K.) Limited

Fidelity Management & Research
(Hong Kong) Limited

Fidelity Management & Research
(Japan) Limited

FIL Investment Advisors

FIL Investments (Japan) Limited

FIL Investment Advisors (UK) Limited

General Distributor

Fidelity Distributors Corporation

Smithfield, RI

Transfer and Service Agents

Fidelity Investments Institutional Operations Company, Inc.

Boston, MA

Fidelity Service Company, Inc.

Boston, MA

Custodian

State Street Bank and Trust Company

Quincy, MA



(Fidelity Investment logo)(registered trademark)

`AIGFI-USAN-0615
1.853344.107`

(Fidelity Investment logo)(registered trademark)Fidelity Advisor®

International Growth

Fund - Class Z

Semiannual Report

April 30, 2015(Fidelity Cover Art)

Class Z is
a class of Fidelity®
International Growth Fund

---

# Contents

|Shareholder Expense Example | (Click Here) | An example of shareholder expenses.                                                                          
|--------------------------- | ------------ | -------------------------------------------------------------------------------------------------------------
|Investment Changes          | (Click Here) | A summary of major shifts in the fund's investments over the past six months.                                
|Investments                 | (Click Here) | A complete list of the fund's investments with their market values.                                          
|Financial Statements        | (Click Here) | Statements of assets and liabilities, operations, and changes in net assets, as well as financial highlights.
|Notes                       | (Click Here) | Notes to financial statements.                                                                               

To view a fund's proxy voting guidelines and proxy voting record for the 12-month period ended June 30, visit http://www.fidelity.com/proxyvotingresults or visit the Securities and Exchange Commission's (SEC) web site at http://www.sec.gov. You may also call 1-877-208-0098 to request a free copy of the proxy voting guidelines.

Standard & Poor's, S&P and S&P 500 are registered service marks of The McGraw-Hill Companies, Inc. and have been licensed for use by Fidelity Distributors Corporation.

Other third-party marks appearing herein are the property of their respective owners.

All other marks appearing herein are registered or unregistered trademarks or service marks of FMR LLC or an affiliated company. © 2015 FMR LLC. All rights reserved.



This report and the financial statements contained herein are submitted for the general information of the shareholders of the fund. This report is not authorized for distribution to prospective investors in the fund unless preceded or accompanied by an effective prospectus.

A fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-Q. Forms N-Q are available on the SEC's web site at http://www.sec.gov.A fund's Forms N-Q may be reviewed and copied at the SEC's Public Reference Room in Washington, DC. Information regarding the operation of the SEC's Public Reference Room may be obtained by calling 1-800-SEC-0330. For a complete list of a fund's portfolio holdings, view the most recent holdings listing, semiannual report, or annual report on Fidelity's web site at http://www.fidelity.com, http://www.advisor.fidelity.com, or http://www.401k.com, as applicable.

NOT FDIC INSURED • MAY LOSE VALUE • NO BANK GUARANTEE

Neither the fund nor Fidelity Distributors Corporation is a bank.

Semiannual Report

---

# Shareholder Expense Example

As a shareholder of the Fund, you incur two types of costs: (1) transaction costs, including sales charges (loads) on purchase payments or redemption proceeds, redemption fees and (2) ongoing costs, including management fees, distribution and/or service (12b-1) fees and other Fund expenses. This Example is intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds.

The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (November 1, 2014 to April 30, 2015).

Actual Expenses

The first line of the accompanying table for each class of the Fund provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000.00 (for example, an $8,600 account value divided by $1,000.00 = 8.6), then multiply the result by the number in the first line for a class of the Fund under the heading entitled "Expenses Paid During Period" to estimate the expenses you paid on your account during this period. A small balance maintenance fee of $12.00 that is charged once a year may apply for certain accounts with a value of less than $2,000. This fee is not included in the table below. If it was, the estimate of expenses you paid during the period would be higher, and your ending account value lower, by this amount. In addition, the Fund, as a shareholder in the underlying Fidelity Central Funds, will indirectly bear its pro-rata share of the fees and expenses incurred by the underlying Fidelity Central Funds. These fees and expenses are not included in the Fund's annualized expense ratio used to calculate the expense estimate in the table below.

Hypothetical Example for Comparison Purposes

The second line of the accompanying table for each class of the Fund provides information about hypothetical account values and hypothetical expenses based on a Class' actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Class' actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds. A small balance maintenance fee of $12.00 that is charged once a year may apply for certain accounts with a value of less than $2,000. This fee is not included in the table below. If it was, the estimate of expenses you paid during the period would be higher, and your ending account value lower, by this amount. In addition, the Fund, as a shareholder in the underlying Fidelity Central Funds, will indirectly bear its pro-rata share of the fees and expenses incurred by the underlying Fidelity Central Funds. These fees and expenses are not included in the Fund's annualized expense ratio used to calculate the expense estimate in the table below.

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transaction costs. Therefore, the second line of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.

Semiannual Report

Shareholder Expense Example - continued

|                     | Annualized
Expense RatioB | Beginning
Account Value
November 1, 2014 | Ending
Account Value
April 30, 2015 | Expenses Paid
During Period*November 1, 2014
to April 30, 2015
|-------------------- | ------------------------- | ---------------------------------------- | ----------------------------------- | --------------------------------------------------------------
|Class A              | 1.28%                     |                                          |                                     |                                                               
|Actual               |                           | $	1,000.00                               | $	1,066.70                          | $	6.56                                                        
|HypotheticalA        |                           | $	1,000.00                               | $	1,018.45                          | $	6.41                                                        
|Class T              | 1.60%                     |                                          |                                     |                                                               
|Actual               |                           | $	1,000.00                               | $	1,065.00                          | $	8.19                                                        
|HypotheticalA        |                           | $	1,000.00                               | $	1,016.86                          | $	8.00                                                        
|Class B              | 2.06%                     |                                          |                                     |                                                               
|Actual               |                           | $	1,000.00                               | $	1,061.40                          | $	10.53                                                       
|HypotheticalA        |                           | $	1,000.00                               | $	1,014.58                          | $	10.29                                                       
|Class C              | 2.09%                     |                                          |                                     |                                                               
|Actual               |                           | $	1,000.00                               | $	1,061.60                          | $	10.68                                                       
|HypotheticalA        |                           | $	1,000.00                               | $	1,014.43                          | $	10.44                                                       
|International Growth | 1.00%                     |                                          |                                     |                                                               
|Actual               |                           | $	1,000.00                               | $	1,067.20                          | $	5.13                                                        
|HypotheticalA        |                           | $	1,000.00                               | $	1,019.84                          | $	5.01                                                        
|Institutional Class  | 1.00%                     |                                          |                                     |                                                               
|Actual               |                           | $	1,000.00                               | $	1,067.80                          | $	5.13                                                        
|HypotheticalA        |                           | $	1,000.00                               | $	1,019.84                          | $	5.01                                                        
|Class Z              | .87%                      |                                          |                                     |                                                               
|Actual               |                           | $	1,000.00                               | $	1,068.90                          | $	4.46                                                        
|HypotheticalA        |                           | $	1,000.00                               | $	1,020.48                          | $	4.36                                                        

A5% return per year before expenses

BAnnualized expense ratio reflects expenses net of applicable fee waivers.

*Expenses are equal to each Class' annualized expense ratio, multiplied by the average account value over the period, multiplied by 181/365 (to reflect the one-half year period).

Semiannual Report

---

# Investment Changes (Unaudited)

|Geographic Diversification (% of fund's net assets)
|---------------------------------------------------
|As of April 30, 2015                               
|int543                                             
|int545                                             
|int547                                             
|int549                                             
|int551                                             
|int553                                             
|int555                                             
|int557                                             
|int559                                             
|int561                                             

int563

|Percentages are based on country or territory of incorporation and are adjusted for the effect of futures contracts, if applicable.
|-----------------------------------------------------------------------------------------------------------------------------------
|*Includes Short-Term Investments and Net Other Assets (Liabilities)                                                                

|As of October 31, 2014
|----------------------
|int565                
|int567                
|int569                
|int571                
|int573                
|int575                
|int577                
|int579                
|int581                
|int583                

int585

|Percentages are based on country or territory of incorporation and are adjusted for the effect of futures contracts, if applicable.
|-----------------------------------------------------------------------------------------------------------------------------------
|*Includes Short-Term Investments and Net Other Assets (Liabilities)                                                                

|Asset Allocation as of April 30, 2015                                      
|---------------------------------------------------------------------------
|                                                                           
|Stocks                                                                     
|Short-Term Investments and Net Other Assets (Liabilities)                  
|Top Ten Stocks as of April 30, 2015                                        
|                                                                           
|Novartis AG (Switzerland, Pharmaceuticals)                                 
|Roche Holding AG (participation certificate) (Switzerland, Pharmaceuticals)
|Nestle SA (Switzerland, Food Products)                                     
|Anheuser-Busch InBev SA NV (Belgium, Beverages)                            
|DENSO Corp. (Japan, Auto Components)                                       
|Novo Nordisk A/S Series B sponsored ADR (Denmark, Pharmaceuticals)         
|Reckitt Benckiser Group PLC (United Kingdom, Household Products)           
|CSL Ltd. (Australia, Biotechnology)                                        
|Keyence Corp. (Japan, Electronic Equipment & Components)                   
|Inditex SA (Spain, Specialty Retail)                                       
|                                                                           
|Market Sectors as of April 30, 2015                                        
|                                                                           
|Health Care                                                                
|Financials                                                                 
|Consumer Discretionary                                                     
|Consumer Staples                                                           
|Industrials                                                                
|Information Technology                                                     
|Materials                                                                  
|Energy                                                                     
|Telecommunication Services                                                 

Semiannual Report

---

# Investments April 30, 2015 (Unaudited)

Showing Percentage of Net Assets

|Common Stocks - 98.1%                                      
|-----------------------------------------------------------
|                                                           
|Australia - 3.3%                                           
|CSL Ltd.                                                   
|Sydney Airport unit                                        
|Transurban Group unit                                      
|TOTAL AUSTRALIA                                            
|Austria - 1.1%                                             
|Andritz AG                                                 
|Bailiwick of Jersey - 1.5%                                 
|Shire PLC                                                  
|Belgium - 4.6%                                             
|Anheuser-Busch InBev SA NV                                 
|KBC Groep NV                                               
|TOTAL BELGIUM                                              
|Bermuda - 0.4%                                             
|Lazard Ltd. Class A                                        
|Canada - 1.0%                                              
|Canadian Pacific Railway Ltd.                              
|Pason Systems, Inc.                                        
|ShawCor Ltd. Class A                                       
|TOTAL CANADA                                               
|Cayman Islands - 0.7%                                      
|58.com, Inc. ADR (a)                                       
|Alibaba Group Holding Ltd. sponsored ADR                   
|TOTAL CAYMAN ISLANDS                                       
|Denmark - 2.9%                                             
|Jyske Bank A/S (Reg.) (a)                                  
|Novo Nordisk A/S Series B sponsored ADR                    
|TOTAL DENMARK                                              
|Finland - 0.2%                                             
|Tikkurila Oyj                                              
|France - 1.1%                                              
|Safran SA                                                  
|Germany - 3.8%                                             
|Bayer AG                                                   
|Linde AG                                                   
|TOTAL GERMANY                                              
|Common Stocks - continued                                  
|                                                           
|Hong Kong - 1.6%                                           
|AIA Group Ltd.                                             
|India - 0.6%                                               
|Housing Development Finance Corp. Ltd.                     
|Ireland - 2.3%                                             
|CRH PLC sponsored ADR                                      
|James Hardie Industries PLC:                               
|CDI                                                        
|sponsored ADR                                              
|TOTAL IRELAND                                              
|Israel - 0.3%                                              
|Azrieli Group                                              
|Italy - 0.9%                                               
|Azimut Holding SpA                                         
|Interpump Group SpA                                        
|TOTAL ITALY                                                
|Japan - 15.2%                                              
|Aozora Bank Ltd.                                           
|Astellas Pharma, Inc.                                      
|Coca-Cola Central Japan Co. Ltd.                           
|DENSO Corp.                                                
|East Japan Railway Co.                                     
|Fanuc Corp.                                                
|Fast Retailing Co. Ltd.                                    
|Hoya Corp.                                                 
|Japan Tobacco, Inc.                                        
|Keyence Corp.                                              
|Mitsui Fudosan Co. Ltd.                                    
|Nintendo Co. Ltd.                                          
|OSG Corp.                                                  
|Seven Bank Ltd.                                            
|SHO-BOND Holdings Co. Ltd.                                 
|USS Co. Ltd.                                               
|Yamato Kogyo Co. Ltd.                                      
|TOTAL JAPAN                                                
|Kenya - 0.5%                                               
|Safaricom Ltd.                                             
|Common Stocks - continued                                  
|                                                           
|Korea (South) - 0.9%                                       
|BGFretail Co. Ltd.                                         
|NAVER Corp.                                                
|TOTAL KOREA (SOUTH)                                        
|Mexico - 0.4%                                              
|Fomento Economico Mexicano S.A.B. de CV sponsored ADR (a)  
|Netherlands - 1.3%                                         
|ING Groep NV (Certificaten Van Aandelen)                   
|South Africa - 2.2%                                        
|Clicks Group Ltd.                                          
|MTN Group Ltd.                                             
|Naspers Ltd. Class N                                       
|TOTAL SOUTH AFRICA                                         
|Spain - 2.8%                                               
|Amadeus IT Holding SA Class A                              
|Hispania Activos Inmobiliarios SA (a)                      
|Inditex SA                                                 
|Prosegur Compania de Seguridad SA (Reg.)                   
|TOTAL SPAIN                                                
|Sweden - 5.6%                                              
|ASSA ABLOY AB (B Shares)                                   
|Atlas Copco AB (A Shares)                                  
|Fagerhult AB                                               
|H&M Hennes & Mauritz AB (B Shares) (d)                     
|Intrum Justitia AB                                         
|Svenska Handelsbanken AB (A Shares)                        
|TOTAL SWEDEN                                               
|Switzerland - 14.2%                                        
|Nestle SA                                                  
|Novartis AG                                                
|Roche Holding AG (participation certificate)               
|Schindler Holding AG:                                      
|(participation certificate)                                
|(Reg.)                                                     
|UBS Group AG                                               
|TOTAL SWITZERLAND                                          
|Common Stocks - continued                                  
|                                                           
|Taiwan - 0.7%                                              
|Taiwan Semiconductor Manufacturing Co. Ltd.                
|Turkey - 0.5%                                              
|Coca-Cola Icecek Sanayi A/S                                
|Tupras Turkiye Petrol Rafinelleri A/S                      
|TOTAL TURKEY                                               
|United Kingdom - 12.5%                                     
|Associated British Foods PLC                               
|Babcock International Group PLC                            
|BAE Systems PLC                                            
|Berendsen PLC                                              
|Informa PLC                                                
|InterContinental Hotel Group PLC ADR                       
|Johnson Matthey PLC                                        
|Lloyds Banking Group PLC                                   
|Prudential PLC                                             
|Reckitt Benckiser Group PLC                                
|Rolls-Royce Group PLC                                      
|SABMiller PLC                                              
|Shaftesbury PLC                                            
|Unite Group PLC                                            
|TOTAL UNITED KINGDOM                                       
|United States of America - 15.0%                           
|Autoliv, Inc. (d)                                          
|Berkshire Hathaway, Inc. Class B (a)                       
|BorgWarner, Inc.                                           
|Cummins, Inc.                                              
|Dril-Quip, Inc. (a)                                        
|FMC Technologies, Inc. (a)                                 
|Google, Inc. Class A (a)                                   
|Martin Marietta Materials, Inc.                            
|MasterCard, Inc. Class A                                   
|McGraw Hill Financial, Inc.                                
|Mead Johnson Nutrition Co. Class A                         
|Mohawk Industries, Inc. (a)                                
|Moody's Corp.                                              
|National Oilwell Varco, Inc.                               
|Oceaneering International, Inc.                            
|Philip Morris International, Inc.                          
|PriceSmart, Inc.                                           
|ResMed, Inc.                                               
|Common Stocks - continued                                  
|                                                           
|United States of America - continued                       
|Solera Holdings, Inc.                                      
|SS&C Technologies Holdings, Inc.                           
|Union Pacific Corp.                                        
|Visa, Inc. Class A                                         
|TOTAL UNITED STATES OF AMERICA                             
|TOTAL COMMON STOCKS
(Cost $1,027,694,550)                  
|Nonconvertible Preferred Stocks - 0.0%                     
|                                                           
|United Kingdom - 0.0%                                      
|Rolls-Royce Group PLC
(Cost $66,024)                       
|Money Market Funds - 5.2%                                  
|                                                           
|Fidelity Cash Central Fund, 0.15% (b)                      
|Fidelity Securities Lending Cash Central Fund, 0.17% (b)(c)
|TOTAL MONEY MARKET FUNDS
(Cost $62,769,332)                
|TOTAL INVESTMENT PORTFOLIO - 103.3%
(Cost $1,090,529,906)  
|NET OTHER ASSETS (LIABILITIES) - (3.3)%                    
|NET ASSETS - 100%                                          

|Legend                                                                                                                                                                                                                                                                                                                                                                                                                                           
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|(a)	Non-income producing                                                                                                                                                                                                                                                                                                                                                                                                                         
|(b)	Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.
|(c)	Investment made with cash collateral received from securities on loan.                                                                                                                                                                                                                                                                                                                                                                       
|(d)	Security or a portion of the security is on loan at period end.                                                                                                                                                                                                                                                                                                                                                                              
|Affiliated Central Funds                                                                                                                                                                                                                                                                                                                                                                                                                         
|Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:                                                                                                                                                                                                                                                                                                                    

|Fund                                          | Income earned
|--------------------------------------------- | -------------
|Fidelity Cash Central Fund                    | $	20,457     
|Fidelity Securities Lending Cash Central Fund | 88,876       
|Total                                         | $	109,333    

|Other Information                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|Categorizations in the Schedule of Investments are based on country or territory of incorporation.                                                                                                                                                                                                                                                                                                                                                                                             
|The following is a summary of the inputs used, as of April 30, 2015, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the tables below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

|Valuation Inputs at Reporting Date:
|-----------------------------------
|Description                        
|Investments in Securities:         
|Equities:                          
|Consumer Discretionary             
|Consumer Staples                   
|Energy                             
|Financials                         
|Health Care                        
|Industrials                        
|Information Technology             
|Materials                          
|Telecommunication Services         
|Money Market Funds                 
|Total Investments in Securities:   

|The following is a summary of transfers between Level 1 and Level 2 for the period ended April 30, 2015. Transfers are assumed to have occurred at the beginning of the period, and are primarily attributable to the valuation techniques used for foreign equity securities, as discussed in the accompanying Notes to Financial Statements:
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|Transfers          | Total        
|------------------ | -------------
|Level 1 to Level 2 | $	248,647,805
|Level 2 to Level 1 | $	41,812,143 

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

---

# Financial Statements

## Statement of Assets and Liabilities

|                                                                                                                                                        | April 30, 2015 (Unaudited)
|------------------------------------------------------------------------------------------------------------------------------------------------------- | --------------------------
|                                                                                                                                                        |                           
|Assets                                                                                                                                                  |                           
|Investment in securities, at value (including securities loaned of $27,233,266) - See accompanying schedule:
Unaffiliated issuers (cost $1,027,760,574) | $	1,188,895,297           
|Fidelity Central Funds (cost $62,769,332)                                                                                                               | 62,769,332                
|Total Investments (cost $1,090,529,906)                                                                                                                 |                           
|Receivable for investments sold                                                                                                                         |                           
|Receivable for fund shares sold                                                                                                                         |                           
|Dividends receivable                                                                                                                                    |                           
|Distributions receivable from Fidelity Central Funds                                                                                                    |                           
|Prepaid expenses                                                                                                                                        |                           
|Other receivables                                                                                                                                       |                           
|Total assets                                                                                                                                            |                           
|                                                                                                                                                        |                           
|Liabilities                                                                                                                                             |                           
|Payable for investments purchased                                                                                                                       | $	14,063,184              
|Payable for fund shares redeemed                                                                                                                        | 5,660,260                 
|Accrued management fee                                                                                                                                  | 691,109                   
|Distribution and service plan fees payable                                                                                                              | 78,455                    
|Other affiliated payables                                                                                                                               | 223,662                   
|Other payables and accrued expenses                                                                                                                     | 182,973                   
|Collateral on securities loaned, at value                                                                                                               | 28,799,550                
|Total liabilities                                                                                                                                       |                           
|                                                                                                                                                        |                           
|Net Assets                                                                                                                                              |                           
|Net Assets consist of:                                                                                                                                  |                           
|Paid in capital                                                                                                                                         |                           
|Undistributed net investment income                                                                                                                     |                           
|Accumulated undistributed net realized gain (loss) on investments and foreign currency transactions                                                     |                           
|Net unrealized appreciation (depreciation) on investments and assets and liabilities in foreign currencies                                              |                           
|Net Assets                                                                                                                                              |                           

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

Financial Statements - continued

## Statement of Assets and Liabilities - continued

|                                                                                                                                | April 30, 2015 (Unaudited)
|------------------------------------------------------------------------------------------------------------------------------- | --------------------------
|                                                                                                                                |                           
|Calculation of Maximum Offering Price
Class A:
Net Asset Valueand redemption price per share ($146,479,182 ÷ 12,542,743 shares) |                           
|                                                                                                                                |                           
|Maximum offering price per share (100/94.25 of $11.68)                                                                          |                           
|Class T:
Net Asset Value and redemption price per share ($24,745,240 ÷ 2,122,363 shares)                                        |                           
|                                                                                                                                |                           
|Maximum offering price per share (100/96.50 of $11.66)                                                                          |                           
|Class B:
Net Asset Value and offering price per share ($930,198 ÷ 80,307 shares)A                                               |                           
|                                                                                                                                |                           
|Class C:
Net Asset Value and offering price per share ($42,955,244 ÷ 3,720,744 shares)A                                         |                           
|                                                                                                                                |                           
|International Growth:
Net Asset Value, offering price and redemption price per share ($791,049,158 ÷ 67,306,562 shares)         |                           
|                                                                                                                                |                           
|Institutional Class:
Net Asset Value, offering price and redemption price per share ($204,971,698 ÷ 17,470,190 shares)          |                           
|                                                                                                                                |                           
|Class Z:
Net Asset Value, offering price and redemption price per share ($95,504 ÷ 8,131 shares)                                |                           

ARedemption price per share is equal to net asset value less any applicable contingent deferred sales charge.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Statement of Operations

|Six months ended April 30, 2015 (Unaudited)                                                                                           
|--------------------------------------------------------------------------------------------------------------------------------------
|                                                                                                                                      
|Investment Income                                                                                                                     
|Dividends                                                                                                                             
|Income from Fidelity Central Funds                                                                                                    
|Income before foreign taxes withheld                                                                                                  
|Less foreign taxes withheld                                                                                                           
|Total income                                                                                                                          
|                                                                                                                                      
|Expenses                                                                                                                              
|Management fee
Basic fee                                                                                                              
|Performance adjustment                                                                                                                
|Transfer agent fees                                                                                                                   
|Distribution and service plan fees                                                                                                    
|Accounting and security lending fees                                                                                                  
|Custodian fees and expenses                                                                                                           
|Independent trustees' compensation                                                                                                    
|Registration fees                                                                                                                     
|Audit                                                                                                                                 
|Legal                                                                                                                                 
|Miscellaneous                                                                                                                         
|Total expenses before reductions                                                                                                      
|Expense reductions                                                                                                                    
|Net investment income (loss)                                                                                                          
|Realized and Unrealized Gain (Loss)
Net realized gain (loss) on:                                                                      
|Investment securities:                                                                                                                
|Unaffiliated issuers                                                                                                                  
|Foreign currency transactions                                                                                                         
|Total net realized gain (loss)                                                                                                        
|Change in net unrealized appreciation (depreciation) on:
Investment securities (net of increase in deferred foreign taxes of $107,830)
|Assets and liabilities in foreign currencies                                                                                          
|Total change in net unrealized appreciation (depreciation)                                                                            
|Net gain (loss)                                                                                                                       
|Netincrease (decrease) in net assets resulting from operations                                                                        

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

Financial Statements - continued

## Statement of Changes in Net Assets

|                                                                                                                                                | Six months ended
April 30, 2015
(Unaudited) | Year ended
October 31,
2014
|----------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------------------- | ---------------------------
|Increase (Decrease) in Net Assets                                                                                                               |                                             |                            
|Operations                                                                                                                                      |                                             |                            
|Net investment income (loss)                                                                                                                    | $	5,808,268                                 | $	8,064,649                
|Net realized gain (loss)                                                                                                                        | (9,407,311)                                 | (8,929,624)                
|Change in net unrealized appreciation (depreciation)                                                                                            | 72,356,857                                  | 17,872,842                 
|Netincrease (decrease) in net assets resulting
from operations                                                                                  | 68,757,814                                  | 17,007,867                 
|Distributions to shareholders from net investment income                                                                                        | (7,019,920)                                 | (2,592,643)                
|Distributions to shareholders from net realized gain                                                                                            | -                                           | (513,441)                  
|Total distributions                                                                                                                             | (7,019,920)                                 | (3,106,084)                
|Share transactions - net increase (decrease)                                                                                                    | 212,672,136                                 | 336,569,228                
|Redemption fees                                                                                                                                 | 25,087                                      | 42,228                     
|Total increase (decrease) in net assets                                                                                                         | 274,435,117                                 | 350,513,239                
|                                                                                                                                                |                                             |                            
|Net Assets                                                                                                                                      |                                             |                            
|Beginning of period                                                                                                                             | 936,791,107                                 | 586,277,868                
|End of period (including undistributed net investment income of $5,618,110 and undistributed net investment income of $6,829,762, respectively) | $	1,211,226,224                             | $	936,791,107              

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - Class A

|                                             | Six months ended
April 30, 2015 | Years ended October 31,
|-------------------------------------------- | ------------------------------- | -----------------------
|                                             | (Unaudited)                     | 2014                   
|Selected Per-Share Data                      |                                 |                        
|Net asset value, beginning of period         | $	11.01                         | $	10.78                
|Income from Investment Operations            |                                 |                        
|Net investment income (loss)E                | .05                             | .09                    
|Net realized and unrealized gain (loss)      | .68                             | .18                    
|Total from investment operations             | .73                             | .27                    
|Distributions from net investment income     | (.06)                           | (.03)                  
|Distributions from net realized gain         | -                               | (.01)                  
|Total distributions                          | (.06)                           | (.04)                  
|Redemption fees added to paid in capitalE, I | -                               | -                      
|Net asset value, end of period               | $	11.68                         | $	11.01                
|Total ReturnB, C, D                          | 6.67%                           | 2.54%                  
|Ratios to Average Net AssetsF, H             |                                 |                        
|Expenses before reductions                   | 1.28%A                          | 1.35%                  
|Expenses net of fee waivers, if any          | 1.28%A                          | 1.35%                  
|Expenses net of all reductions               | 1.28%A                          | 1.34%                  
|Net investment income (loss)                 | .95%A                           | .84%                   
|Supplemental Data                            |                                 |                        
|Net assets, end of period (000 omitted)      | $	146,479                       | $	119,017              
|Portfolio turnover rate G                    | 23%A                            | 27%                    

AAnnualized

BTotal returns for periods of less than one year are not annualized.

CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

DTotal returns do not include the effect of the sales charges.

ECalculated based on average shares outstanding during the period.

FFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.

GAmount does not include the portfolio activity of any underlying Fidelity Central Funds.

HExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.

IAmount represents less than $.01 per share.

JTotal distributions of $.07 per share is comprised of distributions from net investment income of $.046 and distributions from net realized gain of $.025 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - Class T

|                                             | Six months ended
April 30, 2015 | Years ended October 31,
|-------------------------------------------- | ------------------------------- | -----------------------
|                                             | (Unaudited)                     | 2014                   
|Selected Per-Share Data                      |                                 |                        
|Net asset value, beginning of period         | $	10.96                         | $	10.75                
|Income from Investment Operations            |                                 |                        
|Net investment income (loss)E                | .03                             | .06                    
|Net realized and unrealized gain (loss)      | .68                             | .18                    
|Total from investment operations             | .71                             | .24                    
|Distributions from net investment income     | (.01)                           | (.02)                  
|Distributions from net realized gain         | -                               | (.01)                  
|Total distributions                          | (.01)                           | (.03)                  
|Redemption fees added to paid in capitalE, I | -                               | -                      
|Net asset value, end of period               | $	11.66                         | $	10.96                
|Total ReturnB, C, D                          | 6.50%                           | 2.21%                  
|Ratios to Average Net AssetsF, H             |                                 |                        
|Expenses before reductions                   | 1.60%A                          | 1.65%                  
|Expenses net of fee waivers, if any          | 1.60%A                          | 1.65%                  
|Expenses net of all reductions               | 1.60%A                          | 1.65%                  
|Net investment income (loss)                 | .63%A                           | .53%                   
|Supplemental Data                            |                                 |                        
|Net assets, end of period (000 omitted)      | $	24,745                        | $	26,369               
|Portfolio turnover rate G                    | 23%A                            | 27%                    

AAnnualized

BTotal returns for periods of less than one year are not annualized.

CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

DTotal returns do not include the effect of the sales charges.

ECalculated based on average shares outstanding during the period.

FFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.

GAmount does not include the portfolio activity of any underlying Fidelity Central Funds.

HExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.

IAmount represents less than $.01 per share.

JTotal distributions of $.07 per share is comprised of distributions from net investment income of $ .069 and distributions from net realized gain of $.005 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - Class B

|                                             | Six months ended
April 30, 2015 | Years ended October 31,
|-------------------------------------------- | ------------------------------- | -----------------------
|                                             | (Unaudited)                     | 2014                   
|Selected Per-Share Data                      |                                 |                        
|Net asset value, beginning of period         | $	10.91                         | $	10.73                
|Income from Investment Operations            |                                 |                        
|Net investment income (loss)E                | .01                             | -I                     
|Net realized and unrealized gain (loss)      | .66                             | .19                    
|Total from investment operations             | .67                             | .19                    
|Distributions from net investment income     | -                               | -                      
|Distributions from net realized gain         | -                               | (.01)                  
|Total distributions                          | -                               | (.01)                  
|Redemption fees added to paid in capitalE, I | -                               | -                      
|Net asset value, end of period               | $	11.58                         | $	10.91                
|Total ReturnB, C, D                          | 6.14%                           | 1.76%                  
|Ratios to Average Net AssetsF, H             |                                 |                        
|Expenses before reductions                   | 2.06%A                          | 2.14%                  
|Expenses net of fee waivers, if any          | 2.06%A                          | 2.14%                  
|Expenses net of all reductions               | 2.06%A                          | 2.14%                  
|Net investment income (loss)                 | .16%A                           | .04%                   
|Supplemental Data                            |                                 |                        
|Net assets, end of period (000 omitted)      | $	930                           | $	1,404                
|Portfolio turnover rate G                    | 23%A                            | 27%                    

AAnnualized

BTotal returns for periods of less than one year are not annualized.

CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

DTotal returns do not include the effect of the contingent deferred sales charge.

ECalculated based on average shares outstanding during the period.

FFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.

GAmount does not include the portfolio activity of any underlying Fidelity Central Funds.

HExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.

IAmount represents less than $.01 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - Class C

|                                             | Six months ended
April 30, 2015 | Years ended October 31,
|-------------------------------------------- | ------------------------------- | -----------------------
|                                             | (Unaudited)                     | 2014                   
|Selected Per-Share Data                      |                                 |                        
|Net asset value, beginning of period         | $	10.87                         | $	10.69                
|Income from Investment Operations            |                                 |                        
|Net investment income (loss)E                | .01                             | .01                    
|Net realized and unrealized gain (loss)      | .66                             | .18                    
|Total from investment operations             | .67                             | .19                    
|Distributions from net investment income     | -                               | -                      
|Distributions from net realized gain         | -                               | (.01)                  
|Total distributions                          | -                               | (.01)                  
|Redemption fees added to paid in capitalE, I | -                               | -                      
|Net asset value, end of period               | $	11.54                         | $	10.87                
|Total ReturnB, C, D                          | 6.16%                           | 1.77%                  
|Ratios to Average Net AssetsF, H             |                                 |                        
|Expenses before reductions                   | 2.09%A                          | 2.12%                  
|Expenses net of fee waivers, if any          | 2.09%A                          | 2.12%                  
|Expenses net of all reductions               | 2.08%A                          | 2.12%                  
|Net investment income (loss)                 | .14%A                           | .06%                   
|Supplemental Data                            |                                 |                        
|Net assets, end of period (000 omitted)      | $	42,955                        | $	32,737               
|Portfolio turnover rate G                    | 23%A                            | 27%                    

AAnnualized

BTotal returns for periods of less than one year are not annualized.

CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

DTotal returns do not include the effect of the contingent deferred sales charge.

ECalculated based on average shares outstanding during the period.

FFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.

GAmount does not include the portfolio activity of any underlying Fidelity Central Funds.

HExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.

IAmount represents less than $.01 per share.

JTotal distributions of $.01 per share is comprised of distributions from net investment income of $.008 and distributions from net realized gain of
$.005 per share.

KTotal distributions of $.01 per share is comprised of distributions from net investment income of $.007 and distributions from net realized gain of $.006 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - International Growth

|                                             | Six months ended
April 30, 2015 | Years ended October 31,
|-------------------------------------------- | ------------------------------- | -----------------------
|                                             | (Unaudited)                     | 2014                   
|Selected Per-Share Data                      |                                 |                        
|Net asset value, beginning of period         | $	11.10                         | $	10.84                
|Income from Investment Operations            |                                 |                        
|Net investment income (loss)D                | .07                             | .13                    
|Net realized and unrealized gain (loss)      | .67                             | .19                    
|Total from investment operations             | .74                             | .32                    
|Distributions from net investment income     | (.09)                           | (.05)                  
|Distributions from net realized gain         | -                               | (.01)                  
|Total distributions                          | (.09)                           | (.06)                  
|Redemption fees added to paid in capitalD, H | -                               | -                      
|Net asset value, end of period               | $	11.75                         | $	11.10                
|Total ReturnB, C                             | 6.72%                           | 2.96%                  
|Ratios to Average Net AssetsE, G             |                                 |                        
|Expenses before reductions                   | 1.00%A                          | 1.04%                  
|Expenses net of fee waivers, if any          | 1.00%A                          | 1.04%                  
|Expenses net of all reductions               | 1.00%A                          | 1.04%                  
|Net investment income (loss)                 | 1.23%A                          | 1.14%                  
|Supplemental Data                            |                                 |                        
|Net assets, end of period (000 omitted)      | $	791,049                       | $	635,607              
|Portfolio turnover rateF                     | 23%A                            | 27%                    

AAnnualized

BTotal returns for periods of less than one year are not annualized.

CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

DCalculated based on average shares outstanding during the period.

EFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.

FAmount does not include the portfolio activity of any underlying Fidelity Central Funds.

GExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.

HAmount represents less than $.01 per share.

ITotal distributions of $.08 per share is comprised of distributions from net investment income of $.057 and distributions from net realized gain of $.025 per share.

JTotal distributions of $.10 per share is comprised of distributions from net investment income of $.097 and distributions from net realized gain of $.005 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - Institutional Class

|                                             | Six months ended
April 30, 2015 | Years ended October 31,
|-------------------------------------------- | ------------------------------- | -----------------------
|                                             | (Unaudited)                     | 2014                   
|Selected Per-Share Data                      |                                 |                        
|Net asset value, beginning of period         | $	11.08                         | $	10.84                
|Income from Investment Operations            |                                 |                        
|Net investment income (loss)D                | .07                             | .13                    
|Net realized and unrealized gain (loss)      | .68                             | .18                    
|Total from investment operations             | .75                             | .31                    
|Distributions from net investment income     | (.10)                           | (.06)                  
|Distributions from net realized gain         | -                               | (.01)                  
|Total distributions                          | (.10)                           | (.07)                  
|Redemption fees added to paid in capitalD, H | -                               | -                      
|Net asset value, end of period               | $	11.73                         | $	11.08                
|Total ReturnB, C                             | 6.78%                           | 2.84%                  
|Ratios to Average Net AssetsE, G             |                                 |                        
|Expenses before reductions                   | 1.00%A                          | 1.04%                  
|Expenses net of fee waivers, if any          | 1.00%A                          | 1.04%                  
|Expenses net of all reductions               | 1.00%A                          | 1.04%                  
|Net investment income (loss)                 | 1.23%A                          | 1.14%                  
|Supplemental Data                            |                                 |                        
|Net assets, end of period (000 omitted)      | $	204,972                       | $	121,554              
|Portfolio turnover rate F                    | 23%A                            | 27%                    

AAnnualized

BTotal returns for periods of less than one year are not annualized.

CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

DCalculated based on average shares outstanding during the period.

EFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.

FAmount does not include the portfolio activity of any underlying Fidelity Central Funds.

GExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.

HAmount represents less than $.01 per share.

ITotal distributions of $.08 per share is comprised of distributions from net investment income of $.057 and distributions from net realized gain of $.025 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - Class Z

|                                             | Six months ended
April 30, 2015 | Years ended
October 31,
|-------------------------------------------- | ------------------------------- | -----------------------
|                                             | (Unaudited)                     | 2014                   
|Selected Per-Share Data                      |                                 |                        
|Net asset value, beginning of period         | $	11.10                         | $	10.84                
|Income from Investment Operations            |                                 |                        
|Net investment income (loss)D                | .08                             | .14                    
|Net realized and unrealized gain (loss)      | .68                             | .19                    
|Total from investment operations             | .76                             | .33                    
|Distributions from net investment income     | (.11)                           | (.06)                  
|Distributions from net realized gain         | -                               | (.01)                  
|Total distributions                          | (.11)                           | (.07)                  
|Redemption fees added to paid in capitalD, I | -                               | -                      
|Net asset value, end of period               | $	11.75                         | $	11.10                
|Total ReturnB, C                             | 6.89%                           | 3.07%                  
|Ratios to Average Net AssetsE, H             |                                 |                        
|Expenses before reductions                   | .87%A                           | .88%                   
|Expenses net of fee waivers, if any          | .87%A                           | .88%                   
|Expenses net of all reductions               | .87%A                           | .88%                   
|Net investment income (loss)                 | 1.36%A                          | 1.30%                  
|Supplemental Data                            |                                 |                        
|Net assets, end of period (000 omitted)      | $	96                            | $	104                  
|Portfolio turnover rateF                     | 23%A                            | 27%                    

AAnnualized

BTotal returns for periods of less than one year are not annualized.

CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

DCalculated based on average shares outstanding during the period.

EFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.

FAmount does not include the portfolio activity of any underlying Fidelity Central Funds.

GFor the period August 13, 2013 (commencement of sale of shares) to October 31, 2013.

HExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.

IAmount represents less than $.01 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

---

# Notes to Financial Statements

For the period ended April 30, 2015 (Unaudited)

1. Organization.

Fidelity® International Growth Fund (the Fund) is a fund of Fidelity Investment Trust (the Trust) and is authorized to issue an unlimited number of shares. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Massachusetts business trust. The Fund offers Class A, Class T,  Class C, International Growth, Institutional Class and Class Z shares, each of which, along with Class B shares, has equal rights as to assets and voting privileges.  Class B shares are closed to new accounts and additional purchases, except for exchanges and reinvestments. Each class has exclusive voting rights with respect to matters that affect that class. Class B shares will automatically convert to Class A shares after a holding period of seven years from the initial date of purchase.

2. Investments in Fidelity Central Funds.

The Fund invests in Fidelity Central Funds, which are open-end investment companies generally available only to other investment companies and accounts managed by  the investment adviser and its affiliates. The Fund's Schedule of Investments lists each of the Fidelity Central Funds held as of period end, if any, as an investment of the Fund, but does not include the underlying holdings of each Fidelity Central Fund. As an Investing Fund, the Fund indirectly bears its proportionate share of the expenses of the underlying Fidelity Central Funds.

The Money Market Central Funds seek preservation of capital and current income and are managed by Fidelity Investments Money Management, Inc. (FIMM), an affiliate of the investment adviser. Annualized expenses of the Money Market Central Funds as of their most recent shareholder report date are less than .01%.

A complete unaudited list of holdings for each Fidelity Central Fund is available upon request or at the Securities and Exchange Commission (the SEC) website at www.sec.gov. In addition, the financial statements of the Fidelity Central Funds are available on the SEC website or upon request.

3. Significant Accounting Policies.

The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP), which require management to make certain estimates and assumptions at the date of the financial statements. Actual results could differ from those estimates. Subsequent events, if any, through the date that the financial statements were issued have been evaluated in the preparation of

Semiannual Report

3. Significant Accounting Policies - continued

the financial statements. The following summarizes the significant accounting policies of the Fund:

Investment Valuation.Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. The Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fidelity Management & Research Company (FMR) Fair Value Committee (the Committee). In accordance with valuation policies and procedures approved by the Board, the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund's valuation policies and procedures and reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee.

The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels as shown below:

Level 1 - quoted prices in active markets for identical investments

Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, etc.)

Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available)

Valuation techniques used to value the Fund's investments by major category are as follows:

Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing vendor on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs),

Semiannual Report

Notes to Financial Statements (Unaudited) - continued

3. Significant Accounting Policies - continued

Investment Valuation - continued

futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. Utilizing these techniques may result in transfers between Level 1 and Level 2. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy.

Investments in open-end mutual funds ,including the Fidelity Central Funds, are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy.

Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. The aggregate value of investments by input level, as of April 30, 2015, including information on transfers between Levels 1 and 2, is included at the end of the Fund's  Schedule of Investments.

Foreign Currency.The Fund may use foreign currency contracts to facilitate transactions in foreign-denominated securities. Gains and losses from these transactions may arise from changes in the value of the foreign currency or if the counterparties do not perform under the contracts' terms.

Foreign-denominated assets, including investment securities, and liabilities are translated into U.S. dollars at the exchange rates at period end. Purchases and sales of investment securities, income and dividends received and expenses denominated in foreign currencies are translated into U.S. dollars at the exchange rate in effect on the transaction date.

The effects of exchange rate fluctuations on investments are included with the net realized and unrealized gain (loss) on investment securities. Other foreign currency transactions resulting in realized and unrealized gain (loss) are disclosed separately.

Investment Transactions and Income.For financial reporting purposes, the Fund's investment holdings and NAV include trades executed through the end of the last business day of the period. The NAV per share for processing shareholder transactions is calculated as of the close of business of the New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time and includes trades executed through the end of the prior business day. Gains and losses on securities sold are determined on the basis of identified cost and may include proceeds received from litigation. Dividend income is recorded on the ex-dividend date, except for certain dividends from foreign securities where the ex-dividend date may have passed, which are recorded as soon as the Fund is informed of the ex-dividend date. Non-cash dividends included in dividend income, if any, are

Semiannual Report

3. Significant Accounting Policies - continued

Investment Transactions and Income - continued

recorded at the fair market value of the securities received. Income and capital gain distributions from Fidelity Central Funds, if any, are recorded on the ex-dividend date. Investment income is recorded net of foreign taxes withheld where recovery of such taxes is uncertain.

Class Allocations andExpenses. Investment income, realized and unrealized capital gains and losses, common expenses of the Fund, and certain fund-level expense reductions, if any, are allocated daily on a pro-rata basis to each class based on the relative net assets of each class to the total net assets of the Fund. Each class differs with respect to transfer agent and distribution and service plan fees incurred. Certain expense reductions may also differ by class. For the reporting period, the allocated portion of income and expenses to each class as a percent of its average net assets may vary due to the timing of recording these transactions in relation to fluctuating net assets of the classes. Expenses directly attributable to a fund are charged to that fund. Expenses attributable to more than one fund are allocated among the respective funds on the basis of relative net assets or other appropriate methods.  Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.

Income Tax Information and Distributions to Shareholders. Each year, the Fund intends to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code, including distributing substantially all of its taxable income and realized gains. As a result, no provision for U.S. Federal income taxes is required. The Fund files a U.S. federal tax return, in addition to state and local tax returns as required. The Fund's federal income tax returns are subject to examination by the Internal Revenue Service (IRS) for a period of three fiscal years after they are filed. State and local tax returns may be subject to examination for an additional fiscal year depending on the jurisdiction. Foreign taxes are provided for based on the Fund's understanding of the tax rules and rates that exist in the foreign markets in which it invests. The Fund is subject to a tax imposed on capital gains by certain countries in which it invests. An estimated deferred tax liability for net unrealized appreciation on the applicable securities is included in Other payables and accrued expenses on the Statement of Assets & Liabilities.

Distributions are declared and recorded on the ex-dividend date. Income dividends and capital gain distributions are declared separately for each class. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP.

Capital accounts within the financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations.

Semiannual Report

Notes to Financial Statements (Unaudited) - continued

3. Significant Accounting Policies - continued

Income Tax Information and Distributions to Shareholders - continued

Capital accounts are not adjusted for temporary book-tax differences which will reverse in a subsequent period.

Book-tax differences are primarily due to foreign currency transactions, passive foreign investment companies (PFIC), partnerships, capital loss carryforwards and losses deferred due to wash sales.

The federal tax cost of investment securities and unrealized appreciation (depreciation) as of period end were as follows:

|Gross unrealized appreciation                            | $	176,980,396  
|-------------------------------------------------------- | ---------------
|Gross unrealized depreciation                            | (17,086,885)   
|Net unrealized appreciation (depreciation) on securities | $	159,893,511  
|                                                         |                
|Tax cost                                                 | $	1,091,771,118

Capital loss carryforwards are only available to offset future capital gains of the Fund to the extent provided by regulations and may be limited. Under the Regulated Investment Company Modernization Act of 2010 (the Act), the Fund is permitted to carry forward capital losses incurred in taxable years beginning after December 22, 2010 for an unlimited period and such capital losses are required to be used prior to any losses that expire.  The capital loss carryforward information presented below, including any applicable limitation, is estimated as of prior fiscal period end and is subject to adjustment.

|No expiration       |            
|------------------- | -----------
|Short-term          | (7,236,154)
|Long-term           | (1,281,020)
|Total no expiration | (8,517,174)

Short-Term Trading (Redemption) Fees. Shares held by investors in the Fund less than 30 days may have been subject to a redemption fee equal to 1.00% of the NAV of shares redeemed. All redemption fees, which reduce the proceeds of the shareholder redemption, are retained by the Fund and accounted for as an addition to paid in capital.

New Accounting Pronouncement.In June 2014, the Financial Accounting Standards Board issued Accounting Standard Update No. 2014-11, Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures (the Update). The Update amends the accounting for certain repurchase agreements and expands disclosure requirements for reverse repurchase agreements, securities lending and other similar transactions. The disclosure requirements are effective for annual and interim reporting periods beginning after December 15, 2014. Management is currently evaluating the impact of the Update on the Fund's financial statements and related disclosures.

Semiannual Report

4. Purchases and Sales of Investments.

Purchases and sales of securities, other than short-term securities, aggregated $333,149,467 and $113,267,857, respectively.

5. Fees and Other Transactions with Affiliates.

Management Fee. FMR (the investment adviser)  and its affiliates provide the Fund with investment management related services for which the Fund pays a monthly management fee. The management fee is the sum of an individual fund fee rate that is based on an annual rate of .45% of the Fund's average net assets and an annualized group fee rate that averaged .25% during the period. The group fee rate is based upon the average net assets of all the mutual funds advised by the investment adviser, including any mutual funds previously advised by the investment adviser that are currently advised by Fidelity SelectCo, LLC, an affiliate of the investment adviser. The group fee rate decreases as assets under management increase and increases as assets under management decrease. In addition, the management fee is subject to a performance adjustment  (up to a maximum of ± .xx% of the Fund's average net assets over a 36 month performance period). The upward or downward adjustment to the management fee is based on the relative investment performance of International Growth as compared to its benchmark index, the MSCI EAFE Growth Index, over the same 36 month performance period. For the reporting period, the total annualized management fee rate, including the performance adjustment, was .73% of the Fund's average net assets. The performance adjustment included in the management fee rate may be higher or lower than the maximum performance adjustment rate due to the difference between the average net assets for the reporting and performance periods.

Distribution and Service Plan Fees. In accordance with Rule 12b-1 of the 1940 Act, the Fund has adopted separate Distribution and Service Plans for each class of shares. Certain classes pay Fidelity Distributors Corporation (FDC), an affiliate of the investment adviser, separate Distribution and Service Fees, each of which is based on an annual percentage of each class' average net assets. In addition, FDC may pay financial intermediaries for selling shares of the Fund and providing shareholder support services. For the period, the Distribution and Service Fee rates, total fees and amounts retained by FDC were as follows:

|        | Distribution
Fee | Service
Fee | Total Fees | Retained
by FDC
|------- | ---------------- | ----------- | ---------- | ---------------
|Class A | -%               | .25%        | $	164,169  | $	6,099        
|Class T | .25%             | .25%        | 68,217     | 1,156          
|Class B | .75%             | .25%        | 6,444      | 4,861          
|Class C | .75%             | .25%        | 175,032    | 57,103         
|        |                  |             | $	413,862  | $	69,219       

Semiannual Report

Notes to Financial Statements (Unaudited) - continued

5. Fees and Other Transactions with Affiliates - continued

Sales Load. FDC may receive a front-end sales charge of up to 5.75% for selling Class A shares and 3.50% for selling Class T shares, some of which is paid to financial intermediaries for selling shares of the Fund. Depending on the holding period, FDC may receive contingent deferred sales charges levied on Class A, Class T, Class B, and Class C redemptions. The deferred sales charges range from 5.00% to 1.00% for Class B shares, 1.00% for Class C shares, 1.00% for certain purchases of Class A shares and .25% for certain purchases of Class T shares.

For the period, sales charge amounts retained by FDC were as follows:

|         | Retained
by FDC
|-------- | ---------------
|Class A  | $	47,114       
|Class T  | 7,615          
|Class B* | 218            
|Class C* | 2,684          
|         | $	57,631       

*	When Class B and Class C shares are initially sold, FDC pays commissions from its own resources to financial intermediaries through which the sales are made.

Transfer Agent Fees.Fidelity Investments Institutional Operations Company, Inc., (FIIOC), an affiliate of the investment adviser, is the transfer, dividend disbursing and shareholder servicing agent for each class of the Fund. FIIOC receives account fees and asset-based fees that vary according to the account size and type of account of the shareholders of the respective classes of the Fund, except for Class Z. FIIOC receives an asset-based fee of Class Z's average net assets. FIIOC pays for typesetting, printing and mailing of shareholder reports, except proxy statements.

For the period, transfer agent fees for each class were as follows:

|                     | Amount      | % of
Class-Level Average
Net Assets*
|-------------------- | ----------- | ------------------------------------
|Class A              | $	142,394   | .22                                 
|Class T              | 39,333      | .29                                 
|Class B              | 1,596       | .25                                 
|Class C              | 48,190      | .27                                 
|International Growth | 633,070     | .19                                 
|Institutional Class  | 138,698     | .19                                 
|Class Z              | 26          | .05                                 
|                     | $	1,003,307 |                                     

*Annualized

Semiannual Report

5. Fees and Other Transactions with Affiliates - continued

Accounting and Security Lending Fees.Fidelity Service Company, Inc. (FSC), an affiliate of the investment adviser, maintains the Fund's accounting records. The accounting fee is based on the level of average net assets for each month. Under a separate contract, FSC administers the security lending program. The security lending fee is based on the number and duration of lending transactions.

Brokerage Commissions.The Fund placed a portion of its portfolio transactions with brokerage firms which are affiliates of the investment adviser. Brokerage commissions are included in net realized gain (loss) and change in net unrealized appreciation (depreciation) in the Statement of Operations. The commissions paid to these affiliated firms were $525 for the period.

6. Committed Line of Credit.

The Fund participates with other funds managed by the investment adviser or an affiliate in a $4.25 billion credit facility (the "line of credit") to be utilized for temporary or emergency purposes to fund shareholder redemptions or for other short-term liquidity purposes. The Fund has agreed to pay commitment fees on its pro-rata portion of the line of credit, which amounted to $764 and is reflected in Miscellaneous expenses on the Statement of Operations. During the period, the Fund did not borrow on this line of credit.

7. Security Lending.

The Fund lends portfolio securities through a lending agent from time to time in order to earn additional income. For equity securities, a lending agent is used and may loan securities to certain qualified borrowers, including Fidelity Capital Markets (FCM), a broker-dealer affiliated with the Fund. On the settlement date of the loan, the Fund receives collateral (in the form of U.S. Treasury obligations, letters of credit and/or cash) against the loaned securities and maintains collateral in an amount not less than 100% of the market value of the loaned securities during the period of the loan. The market value of the loaned securities is determined at the close of business of the Fund and any additional required collateral is delivered to the Fund on the next business day. If the borrower defaults on its obligation to return the securities loaned because of insolvency or other reasons, the Fund may apply collateral received from the borrower against the obligation. The Fund may experience delays and costs in recovering the securities loaned. Any cash collateral received is invested in the Fidelity Securities Lending Cash Central Fund. The value of loaned securities and cash collateral at period end are disclosed on the Fund's Statement of Assets and Liabilities. Security lending income represents the income earned on investing cash collateral, less rebates paid to borrowers

Semiannual Report

Notes to Financial Statements (Unaudited) - continued

7. Security Lending - continued

and any lending agent fees associated with the loan, plus any premium payments received for lending certain types of securities. Security lending income is presented in the Statement of Operations as a component of income from Fidelity Central Funds. Total security lending income during the period amounted to $88,876, including $2,973 from securities loaned to FCM.

8. Expense Reductions.

Commissions paid to certain brokers with whom the investment adviser, or its affiliates, places trades on behalf of the Fund include an amount in addition to trade execution, which may be rebated back to the Fund to offset certain expenses. This amount totaled $5,164 for the period. In addition, through arrangements with the Fund's custodian, credits realized as a result of uninvested cash balances were used to reduce the Fund's expenses. During the period, these credits reduced the Fund's custody expenses by $4.

In addition, the investment adviser reimbursed a portion of the Fund's operating expenses, including certain International Growth expenses during the period in the amount of $449.

9. Distributions to Shareholders.

Distributions to shareholders of each class were as follows:

|                           | Six months ended
April 30,
2015 | Year ended
October 31,
2014
|-------------------------- | ------------------------------- | ---------------------------
|From net investment income |                                 |                            
|Class A                    | $	684,921                       | $	253,092                  
|Class T                    | 29,128                          | 40,595                     
|International Growth       | 5,239,951                       | 2,051,403                  
|Institutional Class        | 1,064,912                       | 246,949                    
|Class Z                    | 1,008                           | 604                        
|Total                      | $	7,019,920                     | $	2,592,643                
|From net realized gain     |                                 |                            
|Class A                    | $	-                             | $	66,995                   
|Class T                    | -                               | 20,298                     
|Class B                    | -                               | 1,337                      
|Class C                    | -                               | 16,479                     
|International Growth       | -                               | 369,252                    
|Institutional Class        | -                               | 38,992                     
|Class Z                    | -                               | 88                         
|Total                      | $	-                             | $	513,441                  

Semiannual Report

10. Share Transactions.

Share transactions for each class were as follows and may contain automatic conversions between classes or exchanges between funds:

|                              | Shares                          | Dollars                    
|----------------------------- | ------------------------------- | ---------------------------
|                              | Six months ended
April 30,
2015 | Year ended
October 31,
2014
|Class A                       |                                 |                            
|Shares sold                   | 3,857,656                       | 6,584,484                  
|Reinvestment of distributions | 60,571                          | 27,068                     
|Shares redeemed               | (2,182,030)                     | (2,724,911)                
|Net increase (decrease)       | 1,736,197                       | 3,886,641                  
|Class T                       |                                 |                            
|Shares sold                   | 559,535                         | 834,072                    
|Reinvestment of distributions | 2,593                           | 5,459                      
|Shares redeemed               | (844,626)                       | (585,464)                  
|Net increase (decrease)       | (282,498)                       | 254,067                    
|Class B                       |                                 |                            
|Shares sold                   | 14,946                          | 35,020                     
|Reinvestment of distributions | -                               | 123                        
|Shares redeemed               | (63,374)                        | (53,583)                   
|Net increase (decrease)       | (48,428)                        | (18,440)                   
|Class C                       |                                 |                            
|Shares sold                   | 1,137,803                       | 1,827,859                  
|Reinvestment of distributions | -                               | 1,498                      
|Shares redeemed               | (428,330)                       | (426,678)                  
|Net increase (decrease)       | 709,473                         | 1,402,679                  
|International Growth          |                                 |                            
|Shares sold                   | 15,407,407                      | 27,835,093                 
|Reinvestment of distributions | 387,169                         | 197,948                    
|Shares redeemed               | (5,762,096)                     | (10,494,762)               
|Net increase (decrease)       | 10,032,480                      | 17,538,279                 
|Institutional Class           |                                 |                            
|Shares sold                   | 9,272,246                       | 10,292,704                 
|Reinvestment of distributions | 92,581                          | 24,180                     
|Shares redeemed               | (2,861,661)                     | (2,927,192)                
|Net increase (decrease)       | 6,503,166                       | 7,389,692                  
|Class Z                       |                                 |                            
|Reinvestment of distributions | 91                              | 64                         
|Shares redeemed               | (1,296)                         | (475)                      
|Net increase (decrease)       | (1,205)                         | (411)                      

Semiannual Report

Notes to Financial Statements (Unaudited) - continued

11. Other.

The Fund's organizational documents provide former and current trustees and officers with a limited indemnification against liabilities arising in connection with the performance of their duties to the Fund. In the normal course of business, the Fund may also enter into contracts that provide general indemnifications. The Fund's maximum exposure under these arrangements is unknown as this would be dependent on future claims that may be made against the Fund. The risk of material loss from such claims is considered remote.

Semiannual Report

Investment Adviser

Fidelity Management & Research Company
Boston, MA

Investment Sub-Advisers

FMR Co., Inc.

FMR Investment Management
(U.K.) Limited

Fidelity Management & Research
(Hong Kong) Limited

Fidelity Management & Research
(Japan) Limited

FIL Investment Advisors

FIL Investments (Japan) Limited

FIL Investment Advisors (UK) Limited

General Distributor

Fidelity Distributors Corporation

Smithfield, RI

Transfer and Service Agents

Fidelity Investments Institutional Operations Company, Inc.

Boston, MA

Fidelity Service Company, Inc.

Boston, MA

Custodian

State Street Bank and Trust Company

Quincy, MA



(Fidelity Investment logo)(registered trademark)

`AIGFZ-USAN-0615
1.9585038.101`

Fidelity®

International Growth Fund

Semiannual Report

April 30, 2015(Fidelity Cover Art)

---

# Contents

|Shareholder Expense Example | (Click Here) | An example of shareholder expenses.                                                                          
|--------------------------- | ------------ | -------------------------------------------------------------------------------------------------------------
|Investment Changes          | (Click Here) | A summary of major shifts in the fund's investments over the past six months.                                
|Investments                 | (Click Here) | A complete list of the fund's investments with their market values.                                          
|Financial Statements        | (Click Here) | Statements of assets and liabilities, operations, and changes in net assets, as well as financial highlights.
|Notes                       | (Click Here) | Notes to financial statements.                                                                               

To view a fund's proxy voting guidelines and proxy voting record for the 12-month period ended June 30, visit http://www.fidelity.com/proxyvotingresults or visit the Securities and Exchange Commission's (SEC) web site at http://www.sec.gov. You may also call 1-800-544-8544 to request a free copy of the proxy voting guidelines.

Standard & Poor's, S&P and S&P 500 are registered service marks of The McGraw-Hill Companies, Inc. and have been licensed for use by Fidelity Distributors Corporation.

Other third-party marks appearing herein are the property of their respective owners.

All other marks appearing herein are registered or unregistered trademarks or service marks of FMR LLC or an affiliated company. © 2015 FMR LLC. All rights reserved.



This report and the financial statements contained herein are submitted for the general information of the shareholders of the fund. This report is not authorized for distribution to prospective investors in the fund unless preceded or accompanied by an effective prospectus.

A fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-Q. Forms N-Q are available on the SEC's web site at http://www.sec.gov.A fund's Forms N-Q may be reviewed and copied at the SEC's Public Reference Room in Washington, DC. Information regarding the operation of the SEC's Public Reference Room may be obtained by calling 1-800-SEC-0330. For a complete list of a fund's portfolio holdings, view the most recent holdings listing, semiannual report, or annual report on Fidelity's web site at http://www.fidelity.com, http://www.advisor.fidelity.com, or http://www.401k.com, as applicable.

NOT FDIC INSURED • MAY LOSE VALUE • NO BANK GUARANTEE

Neither the fund nor Fidelity Distributors Corporation is a bank.

Semiannual Report

---

# Shareholder Expense Example

As a shareholder of the Fund, you incur two types of costs: (1) transaction costs, including sales charges (loads) on purchase payments or redemption proceeds, redemption fees and (2) ongoing costs, including management fees, distribution and/or service (12b-1) fees and other Fund expenses. This Example is intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds.

The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (November 1, 2014 to April 30, 2015).

Actual Expenses

The first line of the accompanying table for each class of the Fund provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000.00 (for example, an $8,600 account value divided by $1,000.00 = 8.6), then multiply the result by the number in the first line for a class of the Fund under the heading entitled "Expenses Paid During Period" to estimate the expenses you paid on your account during this period. A small balance maintenance fee of $12.00 that is charged once a year may apply for certain accounts with a value of less than $2,000. This fee is not included in the table below. If it was, the estimate of expenses you paid during the period would be higher, and your ending account value lower, by this amount. In addition, the Fund, as a shareholder in the underlying Fidelity Central Funds, will indirectly bear its pro-rata share of the fees and expenses incurred by the underlying Fidelity Central Funds. These fees and expenses are not included in the Fund's annualized expense ratio used to calculate the expense estimate in the table below.

Hypothetical Example for Comparison Purposes

The second line of the accompanying table for each class of the Fund provides information about hypothetical account values and hypothetical expenses based on a Class' actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Class' actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds. A small balance maintenance fee of $12.00 that is charged once a year may apply for certain accounts with a value of less than $2,000. This fee is not included in the table below. If it was, the estimate of expenses you paid during the period would be higher, and your ending account value lower, by this amount. In addition, the Fund, as a shareholder in the underlying Fidelity Central Funds, will indirectly bear its pro-rata share of the fees and expenses incurred by the underlying Fidelity Central Funds. These fees and expenses are not included in the Fund's annualized expense ratio used to calculate the expense estimate in the table below.

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transaction costs. Therefore, the second line of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.

Semiannual Report

Shareholder Expense Example - continued

|                     | Annualized
Expense RatioB | Beginning
Account Value
November 1, 2014 | Ending
Account Value
April 30, 2015 | Expenses Paid
During Period*November 1, 2014
to April 30, 2015
|-------------------- | ------------------------- | ---------------------------------------- | ----------------------------------- | --------------------------------------------------------------
|Class A              | 1.28%                     |                                          |                                     |                                                               
|Actual               |                           | $	1,000.00                               | $	1,066.70                          | $	6.56                                                        
|HypotheticalA        |                           | $	1,000.00                               | $	1,018.45                          | $	6.41                                                        
|Class T              | 1.60%                     |                                          |                                     |                                                               
|Actual               |                           | $	1,000.00                               | $	1,065.00                          | $	8.19                                                        
|HypotheticalA        |                           | $	1,000.00                               | $	1,016.86                          | $	8.00                                                        
|Class B              | 2.06%                     |                                          |                                     |                                                               
|Actual               |                           | $	1,000.00                               | $	1,061.40                          | $	10.53                                                       
|HypotheticalA        |                           | $	1,000.00                               | $	1,014.58                          | $	10.29                                                       
|Class C              | 2.09%                     |                                          |                                     |                                                               
|Actual               |                           | $	1,000.00                               | $	1,061.60                          | $	10.68                                                       
|HypotheticalA        |                           | $	1,000.00                               | $	1,014.43                          | $	10.44                                                       
|International Growth | 1.00%                     |                                          |                                     |                                                               
|Actual               |                           | $	1,000.00                               | $	1,067.20                          | $	5.13                                                        
|HypotheticalA        |                           | $	1,000.00                               | $	1,019.84                          | $	5.01                                                        
|Institutional Class  | 1.00%                     |                                          |                                     |                                                               
|Actual               |                           | $	1,000.00                               | $	1,067.80                          | $	5.13                                                        
|HypotheticalA        |                           | $	1,000.00                               | $	1,019.84                          | $	5.01                                                        
|Class Z              | .87%                      |                                          |                                     |                                                               
|Actual               |                           | $	1,000.00                               | $	1,068.90                          | $	4.46                                                        
|HypotheticalA        |                           | $	1,000.00                               | $	1,020.48                          | $	4.36                                                        

A5% return per year before expenses

BAnnualized expense ratio reflects expenses net of applicable fee waivers.

*Expenses are equal to each Class' annualized expense ratio, multiplied by the average account value over the period, multiplied by 181/365 (to reflect the one-half year period).

Semiannual Report

---

# Investment Changes (Unaudited)

|Geographic Diversification (% of fund's net assets)
|---------------------------------------------------
|As of April 30, 2015                               
|int592                                             
|int594                                             
|int596                                             
|int598                                             
|int600                                             
|int602                                             
|int604                                             
|int606                                             
|int608                                             
|int610                                             

int612

|Percentages are based on country or territory of incorporation and are adjusted for the effect of futures contracts, if applicable.
|-----------------------------------------------------------------------------------------------------------------------------------
|*Includes Short-Term Investments and Net Other Assets (Liabilities)                                                                

|As of October 31, 2014
|----------------------
|int614                
|int616                
|int618                
|int620                
|int622                
|int624                
|int626                
|int628                
|int630                
|int632                

int634

|Percentages are based on country or territory of incorporation and are adjusted for the effect of futures contracts, if applicable.
|-----------------------------------------------------------------------------------------------------------------------------------
|*Includes Short-Term Investments and Net Other Assets (Liabilities)                                                                

|Asset Allocation as of April 30, 2015                                      
|---------------------------------------------------------------------------
|                                                                           
|Stocks                                                                     
|Short-Term Investments and Net Other Assets (Liabilities)                  
|Top Ten Stocks as of April 30, 2015                                        
|                                                                           
|Novartis AG (Switzerland, Pharmaceuticals)                                 
|Roche Holding AG (participation certificate) (Switzerland, Pharmaceuticals)
|Nestle SA (Switzerland, Food Products)                                     
|Anheuser-Busch InBev SA NV (Belgium, Beverages)                            
|DENSO Corp. (Japan, Auto Components)                                       
|Novo Nordisk A/S Series B sponsored ADR (Denmark, Pharmaceuticals)         
|Reckitt Benckiser Group PLC (United Kingdom, Household Products)           
|CSL Ltd. (Australia, Biotechnology)                                        
|Keyence Corp. (Japan, Electronic Equipment & Components)                   
|Inditex SA (Spain, Specialty Retail)                                       
|                                                                           
|Market Sectors as of April 30, 2015                                        
|                                                                           
|Health Care                                                                
|Financials                                                                 
|Consumer Discretionary                                                     
|Consumer Staples                                                           
|Industrials                                                                
|Information Technology                                                     
|Materials                                                                  
|Energy                                                                     
|Telecommunication Services                                                 

Semiannual Report

---

# Investments April 30, 2015 (Unaudited)

Showing Percentage of Net Assets

|Common Stocks - 98.1%                                      
|-----------------------------------------------------------
|                                                           
|Australia - 3.3%                                           
|CSL Ltd.                                                   
|Sydney Airport unit                                        
|Transurban Group unit                                      
|TOTAL AUSTRALIA                                            
|Austria - 1.1%                                             
|Andritz AG                                                 
|Bailiwick of Jersey - 1.5%                                 
|Shire PLC                                                  
|Belgium - 4.6%                                             
|Anheuser-Busch InBev SA NV                                 
|KBC Groep NV                                               
|TOTAL BELGIUM                                              
|Bermuda - 0.4%                                             
|Lazard Ltd. Class A                                        
|Canada - 1.0%                                              
|Canadian Pacific Railway Ltd.                              
|Pason Systems, Inc.                                        
|ShawCor Ltd. Class A                                       
|TOTAL CANADA                                               
|Cayman Islands - 0.7%                                      
|58.com, Inc. ADR (a)                                       
|Alibaba Group Holding Ltd. sponsored ADR                   
|TOTAL CAYMAN ISLANDS                                       
|Denmark - 2.9%                                             
|Jyske Bank A/S (Reg.) (a)                                  
|Novo Nordisk A/S Series B sponsored ADR                    
|TOTAL DENMARK                                              
|Finland - 0.2%                                             
|Tikkurila Oyj                                              
|France - 1.1%                                              
|Safran SA                                                  
|Germany - 3.8%                                             
|Bayer AG                                                   
|Linde AG                                                   
|TOTAL GERMANY                                              
|Common Stocks - continued                                  
|                                                           
|Hong Kong - 1.6%                                           
|AIA Group Ltd.                                             
|India - 0.6%                                               
|Housing Development Finance Corp. Ltd.                     
|Ireland - 2.3%                                             
|CRH PLC sponsored ADR                                      
|James Hardie Industries PLC:                               
|CDI                                                        
|sponsored ADR                                              
|TOTAL IRELAND                                              
|Israel - 0.3%                                              
|Azrieli Group                                              
|Italy - 0.9%                                               
|Azimut Holding SpA                                         
|Interpump Group SpA                                        
|TOTAL ITALY                                                
|Japan - 15.2%                                              
|Aozora Bank Ltd.                                           
|Astellas Pharma, Inc.                                      
|Coca-Cola Central Japan Co. Ltd.                           
|DENSO Corp.                                                
|East Japan Railway Co.                                     
|Fanuc Corp.                                                
|Fast Retailing Co. Ltd.                                    
|Hoya Corp.                                                 
|Japan Tobacco, Inc.                                        
|Keyence Corp.                                              
|Mitsui Fudosan Co. Ltd.                                    
|Nintendo Co. Ltd.                                          
|OSG Corp.                                                  
|Seven Bank Ltd.                                            
|SHO-BOND Holdings Co. Ltd.                                 
|USS Co. Ltd.                                               
|Yamato Kogyo Co. Ltd.                                      
|TOTAL JAPAN                                                
|Kenya - 0.5%                                               
|Safaricom Ltd.                                             
|Common Stocks - continued                                  
|                                                           
|Korea (South) - 0.9%                                       
|BGFretail Co. Ltd.                                         
|NAVER Corp.                                                
|TOTAL KOREA (SOUTH)                                        
|Mexico - 0.4%                                              
|Fomento Economico Mexicano S.A.B. de CV sponsored ADR (a)  
|Netherlands - 1.3%                                         
|ING Groep NV (Certificaten Van Aandelen)                   
|South Africa - 2.2%                                        
|Clicks Group Ltd.                                          
|MTN Group Ltd.                                             
|Naspers Ltd. Class N                                       
|TOTAL SOUTH AFRICA                                         
|Spain - 2.8%                                               
|Amadeus IT Holding SA Class A                              
|Hispania Activos Inmobiliarios SA (a)                      
|Inditex SA                                                 
|Prosegur Compania de Seguridad SA (Reg.)                   
|TOTAL SPAIN                                                
|Sweden - 5.6%                                              
|ASSA ABLOY AB (B Shares)                                   
|Atlas Copco AB (A Shares)                                  
|Fagerhult AB                                               
|H&M Hennes & Mauritz AB (B Shares) (d)                     
|Intrum Justitia AB                                         
|Svenska Handelsbanken AB (A Shares)                        
|TOTAL SWEDEN                                               
|Switzerland - 14.2%                                        
|Nestle SA                                                  
|Novartis AG                                                
|Roche Holding AG (participation certificate)               
|Schindler Holding AG:                                      
|(participation certificate)                                
|(Reg.)                                                     
|UBS Group AG                                               
|TOTAL SWITZERLAND                                          
|Common Stocks - continued                                  
|                                                           
|Taiwan - 0.7%                                              
|Taiwan Semiconductor Manufacturing Co. Ltd.                
|Turkey - 0.5%                                              
|Coca-Cola Icecek Sanayi A/S                                
|Tupras Turkiye Petrol Rafinelleri A/S                      
|TOTAL TURKEY                                               
|United Kingdom - 12.5%                                     
|Associated British Foods PLC                               
|Babcock International Group PLC                            
|BAE Systems PLC                                            
|Berendsen PLC                                              
|Informa PLC                                                
|InterContinental Hotel Group PLC ADR                       
|Johnson Matthey PLC                                        
|Lloyds Banking Group PLC                                   
|Prudential PLC                                             
|Reckitt Benckiser Group PLC                                
|Rolls-Royce Group PLC                                      
|SABMiller PLC                                              
|Shaftesbury PLC                                            
|Unite Group PLC                                            
|TOTAL UNITED KINGDOM                                       
|United States of America - 15.0%                           
|Autoliv, Inc. (d)                                          
|Berkshire Hathaway, Inc. Class B (a)                       
|BorgWarner, Inc.                                           
|Cummins, Inc.                                              
|Dril-Quip, Inc. (a)                                        
|FMC Technologies, Inc. (a)                                 
|Google, Inc. Class A (a)                                   
|Martin Marietta Materials, Inc.                            
|MasterCard, Inc. Class A                                   
|McGraw Hill Financial, Inc.                                
|Mead Johnson Nutrition Co. Class A                         
|Mohawk Industries, Inc. (a)                                
|Moody's Corp.                                              
|National Oilwell Varco, Inc.                               
|Oceaneering International, Inc.                            
|Philip Morris International, Inc.                          
|PriceSmart, Inc.                                           
|ResMed, Inc.                                               
|Common Stocks - continued                                  
|                                                           
|United States of America - continued                       
|Solera Holdings, Inc.                                      
|SS&C Technologies Holdings, Inc.                           
|Union Pacific Corp.                                        
|Visa, Inc. Class A                                         
|TOTAL UNITED STATES OF AMERICA                             
|TOTAL COMMON STOCKS
(Cost $1,027,694,550)                  
|Nonconvertible Preferred Stocks - 0.0%                     
|                                                           
|United Kingdom - 0.0%                                      
|Rolls-Royce Group PLC
(Cost $66,024)                       
|Money Market Funds - 5.2%                                  
|                                                           
|Fidelity Cash Central Fund, 0.15% (b)                      
|Fidelity Securities Lending Cash Central Fund, 0.17% (b)(c)
|TOTAL MONEY MARKET FUNDS
(Cost $62,769,332)                
|TOTAL INVESTMENT PORTFOLIO - 103.3%
(Cost $1,090,529,906)  
|NET OTHER ASSETS (LIABILITIES) - (3.3)%                    
|NET ASSETS - 100%                                          

|Legend                                                                                                                                                                                                                                                                                                                                                                                                                                           
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|(a)	Non-income producing                                                                                                                                                                                                                                                                                                                                                                                                                         
|(b)	Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.
|(c)	Investment made with cash collateral received from securities on loan.                                                                                                                                                                                                                                                                                                                                                                       
|(d)	Security or a portion of the security is on loan at period end.                                                                                                                                                                                                                                                                                                                                                                              
|Affiliated Central Funds                                                                                                                                                                                                                                                                                                                                                                                                                         
|Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:                                                                                                                                                                                                                                                                                                                    

|Fund                                          | Income earned
|--------------------------------------------- | -------------
|Fidelity Cash Central Fund                    | $	20,457     
|Fidelity Securities Lending Cash Central Fund | 88,876       
|Total                                         | $	109,333    

|Other Information                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|Categorizations in the Schedule of Investments are based on country or territory of incorporation.                                                                                                                                                                                                                                                                                                                                                                                             
|The following is a summary of the inputs used, as of April 30, 2015, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the tables below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

|Valuation Inputs at Reporting Date:
|-----------------------------------
|Description                        
|Investments in Securities:         
|Equities:                          
|Consumer Discretionary             
|Consumer Staples                   
|Energy                             
|Financials                         
|Health Care                        
|Industrials                        
|Information Technology             
|Materials                          
|Telecommunication Services         
|Money Market Funds                 
|Total Investments in Securities:   

|The following is a summary of transfers between Level 1 and Level 2 for the period ended April 30, 2015. Transfers are assumed to have occurred at the beginning of the period, and are primarily attributable to the valuation techniques used for foreign equity securities, as discussed in the accompanying Notes to Financial Statements:
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|Transfers          | Total        
|------------------ | -------------
|Level 1 to Level 2 | $	248,647,805
|Level 2 to Level 1 | $	41,812,143 

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

---

# Financial Statements

## Statement of Assets and Liabilities

|                                                                                                                                                        | April 30, 2015 (Unaudited)
|------------------------------------------------------------------------------------------------------------------------------------------------------- | --------------------------
|                                                                                                                                                        |                           
|Assets                                                                                                                                                  |                           
|Investment in securities, at value (including securities loaned of $27,233,266) - See accompanying schedule:
Unaffiliated issuers (cost $1,027,760,574) | $	1,188,895,297           
|Fidelity Central Funds (cost $62,769,332)                                                                                                               | 62,769,332                
|Total Investments (cost $1,090,529,906)                                                                                                                 |                           
|Receivable for investments sold                                                                                                                         |                           
|Receivable for fund shares sold                                                                                                                         |                           
|Dividends receivable                                                                                                                                    |                           
|Distributions receivable from Fidelity Central Funds                                                                                                    |                           
|Prepaid expenses                                                                                                                                        |                           
|Other receivables                                                                                                                                       |                           
|Total assets                                                                                                                                            |                           
|                                                                                                                                                        |                           
|Liabilities                                                                                                                                             |                           
|Payable for investments purchased                                                                                                                       | $	14,063,184              
|Payable for fund shares redeemed                                                                                                                        | 5,660,260                 
|Accrued management fee                                                                                                                                  | 691,109                   
|Distribution and service plan fees payable                                                                                                              | 78,455                    
|Other affiliated payables                                                                                                                               | 223,662                   
|Other payables and accrued expenses                                                                                                                     | 182,973                   
|Collateral on securities loaned, at value                                                                                                               | 28,799,550                
|Total liabilities                                                                                                                                       |                           
|                                                                                                                                                        |                           
|Net Assets                                                                                                                                              |                           
|Net Assets consist of:                                                                                                                                  |                           
|Paid in capital                                                                                                                                         |                           
|Undistributed net investment income                                                                                                                     |                           
|Accumulated undistributed net realized gain (loss) on investments and foreign currency transactions                                                     |                           
|Net unrealized appreciation (depreciation) on investments and assets and liabilities in foreign currencies                                              |                           
|Net Assets                                                                                                                                              |                           

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

Financial Statements - continued

## Statement of Assets and Liabilities - continued

|                                                                                                                                | April 30, 2015 (Unaudited)
|------------------------------------------------------------------------------------------------------------------------------- | --------------------------
|                                                                                                                                |                           
|Calculation of Maximum Offering Price
Class A:
Net Asset Valueand redemption price per share ($146,479,182 ÷ 12,542,743 shares) |                           
|                                                                                                                                |                           
|Maximum offering price per share (100/94.25 of $11.68)                                                                          |                           
|Class T:
Net Asset Value and redemption price per share ($24,745,240 ÷ 2,122,363 shares)                                        |                           
|                                                                                                                                |                           
|Maximum offering price per share (100/96.50 of $11.66)                                                                          |                           
|Class B:
Net Asset Value and offering price per share ($930,198 ÷ 80,307 shares)A                                               |                           
|                                                                                                                                |                           
|Class C:
Net Asset Value and offering price per share ($42,955,244 ÷ 3,720,744 shares)A                                         |                           
|                                                                                                                                |                           
|International Growth:
Net Asset Value, offering price and redemption price per share ($791,049,158 ÷ 67,306,562 shares)         |                           
|                                                                                                                                |                           
|Institutional Class:
Net Asset Value, offering price and redemption price per share ($204,971,698 ÷ 17,470,190 shares)          |                           
|                                                                                                                                |                           
|Class Z:
Net Asset Value, offering price and redemption price per share ($95,504 ÷ 8,131 shares)                                |                           

ARedemption price per share is equal to net asset value less any applicable contingent deferred sales charge.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Statement of Operations

|Six months ended April 30, 2015 (Unaudited)                                                                                           
|--------------------------------------------------------------------------------------------------------------------------------------
|                                                                                                                                      
|Investment Income                                                                                                                     
|Dividends                                                                                                                             
|Income from Fidelity Central Funds                                                                                                    
|Income before foreign taxes withheld                                                                                                  
|Less foreign taxes withheld                                                                                                           
|Total income                                                                                                                          
|                                                                                                                                      
|Expenses                                                                                                                              
|Management fee
Basic fee                                                                                                              
|Performance adjustment                                                                                                                
|Transfer agent fees                                                                                                                   
|Distribution and service plan fees                                                                                                    
|Accounting and security lending fees                                                                                                  
|Custodian fees and expenses                                                                                                           
|Independent trustees' compensation                                                                                                    
|Registration fees                                                                                                                     
|Audit                                                                                                                                 
|Legal                                                                                                                                 
|Miscellaneous                                                                                                                         
|Total expenses before reductions                                                                                                      
|Expense reductions                                                                                                                    
|Net investment income (loss)                                                                                                          
|Realized and Unrealized Gain (Loss)
Net realized gain (loss) on:                                                                      
|Investment securities:                                                                                                                
|Unaffiliated issuers                                                                                                                  
|Foreign currency transactions                                                                                                         
|Total net realized gain (loss)                                                                                                        
|Change in net unrealized appreciation (depreciation) on:
Investment securities (net of increase in deferred foreign taxes of $107,830)
|Assets and liabilities in foreign currencies                                                                                          
|Total change in net unrealized appreciation (depreciation)                                                                            
|Net gain (loss)                                                                                                                       
|Netincrease (decrease) in net assets resulting from operations                                                                        

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

Financial Statements - continued

## Statement of Changes in Net Assets

|                                                                                                                                                | Six months ended
April 30, 2015
(Unaudited) | Year ended
October 31,
2014
|----------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------------------- | ---------------------------
|Increase (Decrease) in Net Assets                                                                                                               |                                             |                            
|Operations                                                                                                                                      |                                             |                            
|Net investment income (loss)                                                                                                                    | $	5,808,268                                 | $	8,064,649                
|Net realized gain (loss)                                                                                                                        | (9,407,311)                                 | (8,929,624)                
|Change in net unrealized appreciation (depreciation)                                                                                            | 72,356,857                                  | 17,872,842                 
|Netincrease (decrease) in net assets resulting
from operations                                                                                  | 68,757,814                                  | 17,007,867                 
|Distributions to shareholders from net investment income                                                                                        | (7,019,920)                                 | (2,592,643)                
|Distributions to shareholders from net realized gain                                                                                            | -                                           | (513,441)                  
|Total distributions                                                                                                                             | (7,019,920)                                 | (3,106,084)                
|Share transactions - net increase (decrease)                                                                                                    | 212,672,136                                 | 336,569,228                
|Redemption fees                                                                                                                                 | 25,087                                      | 42,228                     
|Total increase (decrease) in net assets                                                                                                         | 274,435,117                                 | 350,513,239                
|                                                                                                                                                |                                             |                            
|Net Assets                                                                                                                                      |                                             |                            
|Beginning of period                                                                                                                             | 936,791,107                                 | 586,277,868                
|End of period (including undistributed net investment income of $5,618,110 and undistributed net investment income of $6,829,762, respectively) | $	1,211,226,224                             | $	936,791,107              

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - Class A

|                                             | Six months ended
April 30, 2015 | Years ended October 31,
|-------------------------------------------- | ------------------------------- | -----------------------
|                                             | (Unaudited)                     | 2014                   
|Selected Per-Share Data                      |                                 |                        
|Net asset value, beginning of period         | $	11.01                         | $	10.78                
|Income from Investment Operations            |                                 |                        
|Net investment income (loss)E                | .05                             | .09                    
|Net realized and unrealized gain (loss)      | .68                             | .18                    
|Total from investment operations             | .73                             | .27                    
|Distributions from net investment income     | (.06)                           | (.03)                  
|Distributions from net realized gain         | -                               | (.01)                  
|Total distributions                          | (.06)                           | (.04)                  
|Redemption fees added to paid in capitalE, I | -                               | -                      
|Net asset value, end of period               | $	11.68                         | $	11.01                
|Total ReturnB, C, D                          | 6.67%                           | 2.54%                  
|Ratios to Average Net AssetsF, H             |                                 |                        
|Expenses before reductions                   | 1.28%A                          | 1.35%                  
|Expenses net of fee waivers, if any          | 1.28%A                          | 1.35%                  
|Expenses net of all reductions               | 1.28%A                          | 1.34%                  
|Net investment income (loss)                 | .95%A                           | .84%                   
|Supplemental Data                            |                                 |                        
|Net assets, end of period (000 omitted)      | $	146,479                       | $	119,017              
|Portfolio turnover rate G                    | 23%A                            | 27%                    

AAnnualized

BTotal returns for periods of less than one year are not annualized.

CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

DTotal returns do not include the effect of the sales charges.

ECalculated based on average shares outstanding during the period.

FFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.

GAmount does not include the portfolio activity of any underlying Fidelity Central Funds.

HExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.

IAmount represents less than $.01 per share.

JTotal distributions of $.07 per share is comprised of distributions from net investment income of $.046 and distributions from net realized gain of $.025 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - Class T

|                                             | Six months ended
April 30, 2015 | Years ended October 31,
|-------------------------------------------- | ------------------------------- | -----------------------
|                                             | (Unaudited)                     | 2014                   
|Selected Per-Share Data                      |                                 |                        
|Net asset value, beginning of period         | $	10.96                         | $	10.75                
|Income from Investment Operations            |                                 |                        
|Net investment income (loss)E                | .03                             | .06                    
|Net realized and unrealized gain (loss)      | .68                             | .18                    
|Total from investment operations             | .71                             | .24                    
|Distributions from net investment income     | (.01)                           | (.02)                  
|Distributions from net realized gain         | -                               | (.01)                  
|Total distributions                          | (.01)                           | (.03)                  
|Redemption fees added to paid in capitalE, I | -                               | -                      
|Net asset value, end of period               | $	11.66                         | $	10.96                
|Total ReturnB, C, D                          | 6.50%                           | 2.21%                  
|Ratios to Average Net AssetsF, H             |                                 |                        
|Expenses before reductions                   | 1.60%A                          | 1.65%                  
|Expenses net of fee waivers, if any          | 1.60%A                          | 1.65%                  
|Expenses net of all reductions               | 1.60%A                          | 1.65%                  
|Net investment income (loss)                 | .63%A                           | .53%                   
|Supplemental Data                            |                                 |                        
|Net assets, end of period (000 omitted)      | $	24,745                        | $	26,369               
|Portfolio turnover rate G                    | 23%A                            | 27%                    

AAnnualized

BTotal returns for periods of less than one year are not annualized.

CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

DTotal returns do not include the effect of the sales charges.

ECalculated based on average shares outstanding during the period.

FFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.

GAmount does not include the portfolio activity of any underlying Fidelity Central Funds.

HExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.

IAmount represents less than $.01 per share.

JTotal distributions of $.07 per share is comprised of distributions from net investment income of $ .069 and distributions from net realized gain of $.005 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - Class B

|                                             | Six months ended
April 30, 2015 | Years ended October 31,
|-------------------------------------------- | ------------------------------- | -----------------------
|                                             | (Unaudited)                     | 2014                   
|Selected Per-Share Data                      |                                 |                        
|Net asset value, beginning of period         | $	10.91                         | $	10.73                
|Income from Investment Operations            |                                 |                        
|Net investment income (loss)E                | .01                             | -I                     
|Net realized and unrealized gain (loss)      | .66                             | .19                    
|Total from investment operations             | .67                             | .19                    
|Distributions from net investment income     | -                               | -                      
|Distributions from net realized gain         | -                               | (.01)                  
|Total distributions                          | -                               | (.01)                  
|Redemption fees added to paid in capitalE, I | -                               | -                      
|Net asset value, end of period               | $	11.58                         | $	10.91                
|Total ReturnB, C, D                          | 6.14%                           | 1.76%                  
|Ratios to Average Net AssetsF, H             |                                 |                        
|Expenses before reductions                   | 2.06%A                          | 2.14%                  
|Expenses net of fee waivers, if any          | 2.06%A                          | 2.14%                  
|Expenses net of all reductions               | 2.06%A                          | 2.14%                  
|Net investment income (loss)                 | .16%A                           | .04%                   
|Supplemental Data                            |                                 |                        
|Net assets, end of period (000 omitted)      | $	930                           | $	1,404                
|Portfolio turnover rate G                    | 23%A                            | 27%                    

AAnnualized

BTotal returns for periods of less than one year are not annualized.

CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

DTotal returns do not include the effect of the contingent deferred sales charge.

ECalculated based on average shares outstanding during the period.

FFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.

GAmount does not include the portfolio activity of any underlying Fidelity Central Funds.

HExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.

IAmount represents less than $.01 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - Class C

|                                             | Six months ended
April 30, 2015 | Years ended October 31,
|-------------------------------------------- | ------------------------------- | -----------------------
|                                             | (Unaudited)                     | 2014                   
|Selected Per-Share Data                      |                                 |                        
|Net asset value, beginning of period         | $	10.87                         | $	10.69                
|Income from Investment Operations            |                                 |                        
|Net investment income (loss)E                | .01                             | .01                    
|Net realized and unrealized gain (loss)      | .66                             | .18                    
|Total from investment operations             | .67                             | .19                    
|Distributions from net investment income     | -                               | -                      
|Distributions from net realized gain         | -                               | (.01)                  
|Total distributions                          | -                               | (.01)                  
|Redemption fees added to paid in capitalE, I | -                               | -                      
|Net asset value, end of period               | $	11.54                         | $	10.87                
|Total ReturnB, C, D                          | 6.16%                           | 1.77%                  
|Ratios to Average Net AssetsF, H             |                                 |                        
|Expenses before reductions                   | 2.09%A                          | 2.12%                  
|Expenses net of fee waivers, if any          | 2.09%A                          | 2.12%                  
|Expenses net of all reductions               | 2.08%A                          | 2.12%                  
|Net investment income (loss)                 | .14%A                           | .06%                   
|Supplemental Data                            |                                 |                        
|Net assets, end of period (000 omitted)      | $	42,955                        | $	32,737               
|Portfolio turnover rate G                    | 23%A                            | 27%                    

AAnnualized

BTotal returns for periods of less than one year are not annualized.

CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

DTotal returns do not include the effect of the contingent deferred sales charge.

ECalculated based on average shares outstanding during the period.

FFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.

GAmount does not include the portfolio activity of any underlying Fidelity Central Funds.

HExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.

IAmount represents less than $.01 per share.

JTotal distributions of $.01 per share is comprised of distributions from net investment income of $.008 and distributions from net realized gain of
$.005 per share.

KTotal distributions of $.01 per share is comprised of distributions from net investment income of $.007 and distributions from net realized gain of $.006 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - International Growth

|                                             | Six months ended
April 30, 2015 | Years ended October 31,
|-------------------------------------------- | ------------------------------- | -----------------------
|                                             | (Unaudited)                     | 2014                   
|Selected Per-Share Data                      |                                 |                        
|Net asset value, beginning of period         | $	11.10                         | $	10.84                
|Income from Investment Operations            |                                 |                        
|Net investment income (loss)D                | .07                             | .13                    
|Net realized and unrealized gain (loss)      | .67                             | .19                    
|Total from investment operations             | .74                             | .32                    
|Distributions from net investment income     | (.09)                           | (.05)                  
|Distributions from net realized gain         | -                               | (.01)                  
|Total distributions                          | (.09)                           | (.06)                  
|Redemption fees added to paid in capitalD, H | -                               | -                      
|Net asset value, end of period               | $	11.75                         | $	11.10                
|Total ReturnB, C                             | 6.72%                           | 2.96%                  
|Ratios to Average Net AssetsE, G             |                                 |                        
|Expenses before reductions                   | 1.00%A                          | 1.04%                  
|Expenses net of fee waivers, if any          | 1.00%A                          | 1.04%                  
|Expenses net of all reductions               | 1.00%A                          | 1.04%                  
|Net investment income (loss)                 | 1.23%A                          | 1.14%                  
|Supplemental Data                            |                                 |                        
|Net assets, end of period (000 omitted)      | $	791,049                       | $	635,607              
|Portfolio turnover rateF                     | 23%A                            | 27%                    

AAnnualized

BTotal returns for periods of less than one year are not annualized.

CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

DCalculated based on average shares outstanding during the period.

EFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.

FAmount does not include the portfolio activity of any underlying Fidelity Central Funds.

GExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.

HAmount represents less than $.01 per share.

ITotal distributions of $.08 per share is comprised of distributions from net investment income of $.057 and distributions from net realized gain of $.025 per share.

JTotal distributions of $.10 per share is comprised of distributions from net investment income of $.097 and distributions from net realized gain of $.005 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - Institutional Class

|                                             | Six months ended
April 30, 2015 | Years ended October 31,
|-------------------------------------------- | ------------------------------- | -----------------------
|                                             | (Unaudited)                     | 2014                   
|Selected Per-Share Data                      |                                 |                        
|Net asset value, beginning of period         | $	11.08                         | $	10.84                
|Income from Investment Operations            |                                 |                        
|Net investment income (loss)D                | .07                             | .13                    
|Net realized and unrealized gain (loss)      | .68                             | .18                    
|Total from investment operations             | .75                             | .31                    
|Distributions from net investment income     | (.10)                           | (.06)                  
|Distributions from net realized gain         | -                               | (.01)                  
|Total distributions                          | (.10)                           | (.07)                  
|Redemption fees added to paid in capitalD, H | -                               | -                      
|Net asset value, end of period               | $	11.73                         | $	11.08                
|Total ReturnB, C                             | 6.78%                           | 2.84%                  
|Ratios to Average Net AssetsE, G             |                                 |                        
|Expenses before reductions                   | 1.00%A                          | 1.04%                  
|Expenses net of fee waivers, if any          | 1.00%A                          | 1.04%                  
|Expenses net of all reductions               | 1.00%A                          | 1.04%                  
|Net investment income (loss)                 | 1.23%A                          | 1.14%                  
|Supplemental Data                            |                                 |                        
|Net assets, end of period (000 omitted)      | $	204,972                       | $	121,554              
|Portfolio turnover rate F                    | 23%A                            | 27%                    

AAnnualized

BTotal returns for periods of less than one year are not annualized.

CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

DCalculated based on average shares outstanding during the period.

EFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.

FAmount does not include the portfolio activity of any underlying Fidelity Central Funds.

GExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.

HAmount represents less than $.01 per share.

ITotal distributions of $.08 per share is comprised of distributions from net investment income of $.057 and distributions from net realized gain of $.025 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - Class Z

|                                             | Six months ended
April 30, 2015 | Years ended
October 31,
|-------------------------------------------- | ------------------------------- | -----------------------
|                                             | (Unaudited)                     | 2014                   
|Selected Per-Share Data                      |                                 |                        
|Net asset value, beginning of period         | $	11.10                         | $	10.84                
|Income from Investment Operations            |                                 |                        
|Net investment income (loss)D                | .08                             | .14                    
|Net realized and unrealized gain (loss)      | .68                             | .19                    
|Total from investment operations             | .76                             | .33                    
|Distributions from net investment income     | (.11)                           | (.06)                  
|Distributions from net realized gain         | -                               | (.01)                  
|Total distributions                          | (.11)                           | (.07)                  
|Redemption fees added to paid in capitalD, I | -                               | -                      
|Net asset value, end of period               | $	11.75                         | $	11.10                
|Total ReturnB, C                             | 6.89%                           | 3.07%                  
|Ratios to Average Net AssetsE, H             |                                 |                        
|Expenses before reductions                   | .87%A                           | .88%                   
|Expenses net of fee waivers, if any          | .87%A                           | .88%                   
|Expenses net of all reductions               | .87%A                           | .88%                   
|Net investment income (loss)                 | 1.36%A                          | 1.30%                  
|Supplemental Data                            |                                 |                        
|Net assets, end of period (000 omitted)      | $	96                            | $	104                  
|Portfolio turnover rateF                     | 23%A                            | 27%                    

AAnnualized

BTotal returns for periods of less than one year are not annualized.

CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

DCalculated based on average shares outstanding during the period.

EFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.

FAmount does not include the portfolio activity of any underlying Fidelity Central Funds.

GFor the period August 13, 2013 (commencement of sale of shares) to October 31, 2013.

HExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.

IAmount represents less than $.01 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

---

# Notes to Financial Statements

For the period ended April 30, 2015 (Unaudited)

1. Organization.

Fidelity® International Growth Fund (the Fund) is a fund of Fidelity Investment Trust (the Trust) and is authorized to issue an unlimited number of shares. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Massachusetts business trust. The Fund offers Class A, Class T,  Class C, International Growth, Institutional Class and Class Z shares, each of which, along with Class B shares, has equal rights as to assets and voting privileges.  Class B shares are closed to new accounts and additional purchases, except for exchanges and reinvestments. Each class has exclusive voting rights with respect to matters that affect that class. Class B shares will automatically convert to Class A shares after a holding period of seven years from the initial date of purchase.

2. Investments in Fidelity Central Funds.

The Fund invests in Fidelity Central Funds, which are open-end investment companies generally available only to other investment companies and accounts managed by  the investment adviser and its affiliates. The Fund's Schedule of Investments lists each of the Fidelity Central Funds held as of period end, if any, as an investment of the Fund, but does not include the underlying holdings of each Fidelity Central Fund. As an Investing Fund, the Fund indirectly bears its proportionate share of the expenses of the underlying Fidelity Central Funds.

The Money Market Central Funds seek preservation of capital and current income and are managed by Fidelity Investments Money Management, Inc. (FIMM), an affiliate of the investment adviser. Annualized expenses of the Money Market Central Funds as of their most recent shareholder report date are less than .01%.

A complete unaudited list of holdings for each Fidelity Central Fund is available upon request or at the Securities and Exchange Commission (the SEC) website at www.sec.gov. In addition, the financial statements of the Fidelity Central Funds are available on the SEC website or upon request.

3. Significant Accounting Policies.

The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP), which require management to make certain estimates and assumptions at the date of the financial statements. Actual results could differ from those estimates. Subsequent events, if any, through the date that the financial statements were issued have been evaluated in the preparation of

Semiannual Report

3. Significant Accounting Policies - continued

the financial statements. The following summarizes the significant accounting policies of the Fund:

Investment Valuation.Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. The Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fidelity Management & Research Company (FMR) Fair Value Committee (the Committee). In accordance with valuation policies and procedures approved by the Board, the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund's valuation policies and procedures and reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee.

The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels as shown below:

Level 1 - quoted prices in active markets for identical investments

Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, etc.)

Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available)

Valuation techniques used to value the Fund's investments by major category are as follows:

Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing vendor on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs),

Semiannual Report

Notes to Financial Statements (Unaudited) - continued

3. Significant Accounting Policies - continued

Investment Valuation - continued

futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. Utilizing these techniques may result in transfers between Level 1 and Level 2. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy.

Investments in open-end mutual funds ,including the Fidelity Central Funds, are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy.

Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. The aggregate value of investments by input level, as of April 30, 2015, including information on transfers between Levels 1 and 2, is included at the end of the Fund's  Schedule of Investments.

Foreign Currency.The Fund may use foreign currency contracts to facilitate transactions in foreign-denominated securities. Gains and losses from these transactions may arise from changes in the value of the foreign currency or if the counterparties do not perform under the contracts' terms.

Foreign-denominated assets, including investment securities, and liabilities are translated into U.S. dollars at the exchange rates at period end. Purchases and sales of investment securities, income and dividends received and expenses denominated in foreign currencies are translated into U.S. dollars at the exchange rate in effect on the transaction date.

The effects of exchange rate fluctuations on investments are included with the net realized and unrealized gain (loss) on investment securities. Other foreign currency transactions resulting in realized and unrealized gain (loss) are disclosed separately.

Investment Transactions and Income.For financial reporting purposes, the Fund's investment holdings and NAV include trades executed through the end of the last business day of the period. The NAV per share for processing shareholder transactions is calculated as of the close of business of the New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time and includes trades executed through the end of the prior business day. Gains and losses on securities sold are determined on the basis of identified cost and may include proceeds received from litigation. Dividend income is recorded on the ex-dividend date, except for certain dividends from foreign securities where the ex-dividend date may have passed, which are recorded as soon as the Fund is informed of the ex-dividend date. Non-cash dividends included in dividend income, if any, are

Semiannual Report

3. Significant Accounting Policies - continued

Investment Transactions and Income - continued

recorded at the fair market value of the securities received. Income and capital gain distributions from Fidelity Central Funds, if any, are recorded on the ex-dividend date. Investment income is recorded net of foreign taxes withheld where recovery of such taxes is uncertain.

Class Allocations andExpenses. Investment income, realized and unrealized capital gains and losses, common expenses of the Fund, and certain fund-level expense reductions, if any, are allocated daily on a pro-rata basis to each class based on the relative net assets of each class to the total net assets of the Fund. Each class differs with respect to transfer agent and distribution and service plan fees incurred. Certain expense reductions may also differ by class. For the reporting period, the allocated portion of income and expenses to each class as a percent of its average net assets may vary due to the timing of recording these transactions in relation to fluctuating net assets of the classes. Expenses directly attributable to a fund are charged to that fund. Expenses attributable to more than one fund are allocated among the respective funds on the basis of relative net assets or other appropriate methods.  Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.

Income Tax Information and Distributions to Shareholders. Each year, the Fund intends to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code, including distributing substantially all of its taxable income and realized gains. As a result, no provision for U.S. Federal income taxes is required. The Fund files a U.S. federal tax return, in addition to state and local tax returns as required. The Fund's federal income tax returns are subject to examination by the Internal Revenue Service (IRS) for a period of three fiscal years after they are filed. State and local tax returns may be subject to examination for an additional fiscal year depending on the jurisdiction. Foreign taxes are provided for based on the Fund's understanding of the tax rules and rates that exist in the foreign markets in which it invests. The Fund is subject to a tax imposed on capital gains by certain countries in which it invests. An estimated deferred tax liability for net unrealized appreciation on the applicable securities is included in Other payables and accrued expenses on the Statement of Assets & Liabilities.

Distributions are declared and recorded on the ex-dividend date. Income dividends and capital gain distributions are declared separately for each class. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP.

Capital accounts within the financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations.

Semiannual Report

Notes to Financial Statements (Unaudited) - continued

3. Significant Accounting Policies - continued

Income Tax Information and Distributions to Shareholders - continued

Capital accounts are not adjusted for temporary book-tax differences which will reverse in a subsequent period.

Book-tax differences are primarily due to foreign currency transactions, passive foreign investment companies (PFIC), partnerships, capital loss carryforwards and losses deferred due to wash sales.

The federal tax cost of investment securities and unrealized appreciation (depreciation) as of period end were as follows:

|Gross unrealized appreciation                            | $	176,980,396  
|-------------------------------------------------------- | ---------------
|Gross unrealized depreciation                            | (17,086,885)   
|Net unrealized appreciation (depreciation) on securities | $	159,893,511  
|                                                         |                
|Tax cost                                                 | $	1,091,771,118

Capital loss carryforwards are only available to offset future capital gains of the Fund to the extent provided by regulations and may be limited. Under the Regulated Investment Company Modernization Act of 2010 (the Act), the Fund is permitted to carry forward capital losses incurred in taxable years beginning after December 22, 2010 for an unlimited period and such capital losses are required to be used prior to any losses that expire.  The capital loss carryforward information presented below, including any applicable limitation, is estimated as of prior fiscal period end and is subject to adjustment.

|No expiration       |            
|------------------- | -----------
|Short-term          | (7,236,154)
|Long-term           | (1,281,020)
|Total no expiration | (8,517,174)

Short-Term Trading (Redemption) Fees. Shares held by investors in the Fund less than 30 days may have been subject to a redemption fee equal to 1.00% of the NAV of shares redeemed. All redemption fees, which reduce the proceeds of the shareholder redemption, are retained by the Fund and accounted for as an addition to paid in capital.

New Accounting Pronouncement.In June 2014, the Financial Accounting Standards Board issued Accounting Standard Update No. 2014-11, Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures (the Update). The Update amends the accounting for certain repurchase agreements and expands disclosure requirements for reverse repurchase agreements, securities lending and other similar transactions. The disclosure requirements are effective for annual and interim reporting periods beginning after December 15, 2014. Management is currently evaluating the impact of the Update on the Fund's financial statements and related disclosures.

Semiannual Report

4. Purchases and Sales of Investments.

Purchases and sales of securities, other than short-term securities, aggregated $333,149,467 and $113,267,857, respectively.

5. Fees and Other Transactions with Affiliates.

Management Fee. FMR (the investment adviser)  and its affiliates provide the Fund with investment management related services for which the Fund pays a monthly management fee. The management fee is the sum of an individual fund fee rate that is based on an annual rate of .45% of the Fund's average net assets and an annualized group fee rate that averaged .25% during the period. The group fee rate is based upon the average net assets of all the mutual funds advised by the investment adviser, including any mutual funds previously advised by the investment adviser that are currently advised by Fidelity SelectCo, LLC, an affiliate of the investment adviser. The group fee rate decreases as assets under management increase and increases as assets under management decrease. In addition, the management fee is subject to a performance adjustment  (up to a maximum of ± .xx% of the Fund's average net assets over a 36 month performance period). The upward or downward adjustment to the management fee is based on the relative investment performance of International Growth as compared to its benchmark index, the MSCI EAFE Growth Index, over the same 36 month performance period. For the reporting period, the total annualized management fee rate, including the performance adjustment, was .73% of the Fund's average net assets. The performance adjustment included in the management fee rate may be higher or lower than the maximum performance adjustment rate due to the difference between the average net assets for the reporting and performance periods.

Distribution and Service Plan Fees. In accordance with Rule 12b-1 of the 1940 Act, the Fund has adopted separate Distribution and Service Plans for each class of shares. Certain classes pay Fidelity Distributors Corporation (FDC), an affiliate of the investment adviser, separate Distribution and Service Fees, each of which is based on an annual percentage of each class' average net assets. In addition, FDC may pay financial intermediaries for selling shares of the Fund and providing shareholder support services. For the period, the Distribution and Service Fee rates, total fees and amounts retained by FDC were as follows:

|        | Distribution
Fee | Service
Fee | Total Fees | Retained
by FDC
|------- | ---------------- | ----------- | ---------- | ---------------
|Class A | -%               | .25%        | $	164,169  | $	6,099        
|Class T | .25%             | .25%        | 68,217     | 1,156          
|Class B | .75%             | .25%        | 6,444      | 4,861          
|Class C | .75%             | .25%        | 175,032    | 57,103         
|        |                  |             | $	413,862  | $	69,219       

Semiannual Report

Notes to Financial Statements (Unaudited) - continued

5. Fees and Other Transactions with Affiliates - continued

Sales Load. FDC may receive a front-end sales charge of up to 5.75% for selling Class A shares and 3.50% for selling Class T shares, some of which is paid to financial intermediaries for selling shares of the Fund. Depending on the holding period, FDC may receive contingent deferred sales charges levied on Class A, Class T, Class B, and Class C redemptions. The deferred sales charges range from 5.00% to 1.00% for Class B shares, 1.00% for Class C shares, 1.00% for certain purchases of Class A shares and .25% for certain purchases of Class T shares.

For the period, sales charge amounts retained by FDC were as follows:

|         | Retained
by FDC
|-------- | ---------------
|Class A  | $	47,114       
|Class T  | 7,615          
|Class B* | 218            
|Class C* | 2,684          
|         | $	57,631       

*	When Class B and Class C shares are initially sold, FDC pays commissions from its own resources to financial intermediaries through which the sales are made.

Transfer Agent Fees.Fidelity Investments Institutional Operations Company, Inc., (FIIOC), an affiliate of the investment adviser, is the transfer, dividend disbursing and shareholder servicing agent for each class of the Fund. FIIOC receives account fees and asset-based fees that vary according to the account size and type of account of the shareholders of the respective classes of the Fund, except for Class Z. FIIOC receives an asset-based fee of Class Z's average net assets. FIIOC pays for typesetting, printing and mailing of shareholder reports, except proxy statements.

For the period, transfer agent fees for each class were as follows:

|                     | Amount      | % of
Class-Level Average
Net Assets*
|-------------------- | ----------- | ------------------------------------
|Class A              | $	142,394   | .22                                 
|Class T              | 39,333      | .29                                 
|Class B              | 1,596       | .25                                 
|Class C              | 48,190      | .27                                 
|International Growth | 633,070     | .19                                 
|Institutional Class  | 138,698     | .19                                 
|Class Z              | 26          | .05                                 
|                     | $	1,003,307 |                                     

*Annualized

Semiannual Report

5. Fees and Other Transactions with Affiliates - continued

Accounting and Security Lending Fees.Fidelity Service Company, Inc. (FSC), an affiliate of the investment adviser, maintains the Fund's accounting records. The accounting fee is based on the level of average net assets for each month. Under a separate contract, FSC administers the security lending program. The security lending fee is based on the number and duration of lending transactions.

Brokerage Commissions.The Fund placed a portion of its portfolio transactions with brokerage firms which are affiliates of the investment adviser. Brokerage commissions are included in net realized gain (loss) and change in net unrealized appreciation (depreciation) in the Statement of Operations. The commissions paid to these affiliated firms were $525 for the period.

6. Committed Line of Credit.

The Fund participates with other funds managed by the investment adviser or an affiliate in a $4.25 billion credit facility (the "line of credit") to be utilized for temporary or emergency purposes to fund shareholder redemptions or for other short-term liquidity purposes. The Fund has agreed to pay commitment fees on its pro-rata portion of the line of credit, which amounted to $764 and is reflected in Miscellaneous expenses on the Statement of Operations. During the period, the Fund did not borrow on this line of credit.

7. Security Lending.

The Fund lends portfolio securities through a lending agent from time to time in order to earn additional income. For equity securities, a lending agent is used and may loan securities to certain qualified borrowers, including Fidelity Capital Markets (FCM), a broker-dealer affiliated with the Fund. On the settlement date of the loan, the Fund receives collateral (in the form of U.S. Treasury obligations, letters of credit and/or cash) against the loaned securities and maintains collateral in an amount not less than 100% of the market value of the loaned securities during the period of the loan. The market value of the loaned securities is determined at the close of business of the Fund and any additional required collateral is delivered to the Fund on the next business day. If the borrower defaults on its obligation to return the securities loaned because of insolvency or other reasons, the Fund may apply collateral received from the borrower against the obligation. The Fund may experience delays and costs in recovering the securities loaned. Any cash collateral received is invested in the Fidelity Securities Lending Cash Central Fund. The value of loaned securities and cash collateral at period end are disclosed on the Fund's Statement of Assets and Liabilities. Security lending income represents the income earned on investing cash collateral, less rebates paid to borrowers

Semiannual Report

Notes to Financial Statements (Unaudited) - continued

7. Security Lending - continued

and any lending agent fees associated with the loan, plus any premium payments received for lending certain types of securities. Security lending income is presented in the Statement of Operations as a component of income from Fidelity Central Funds. Total security lending income during the period amounted to $88,876, including $2,973 from securities loaned to FCM.

8. Expense Reductions.

Commissions paid to certain brokers with whom the investment adviser, or its affiliates, places trades on behalf of the Fund include an amount in addition to trade execution, which may be rebated back to the Fund to offset certain expenses. This amount totaled $5,164 for the period. In addition, through arrangements with the Fund's custodian, credits realized as a result of uninvested cash balances were used to reduce the Fund's expenses. During the period, these credits reduced the Fund's custody expenses by $4.

In addition, the investment adviser reimbursed a portion of the Fund's operating expenses, including certain International Growth expenses during the period in the amount of $449.

9. Distributions to Shareholders.

Distributions to shareholders of each class were as follows:

|                           | Six months ended
April 30,
2015 | Year ended
October 31,
2014
|-------------------------- | ------------------------------- | ---------------------------
|From net investment income |                                 |                            
|Class A                    | $	684,921                       | $	253,092                  
|Class T                    | 29,128                          | 40,595                     
|International Growth       | 5,239,951                       | 2,051,403                  
|Institutional Class        | 1,064,912                       | 246,949                    
|Class Z                    | 1,008                           | 604                        
|Total                      | $	7,019,920                     | $	2,592,643                
|From net realized gain     |                                 |                            
|Class A                    | $	-                             | $	66,995                   
|Class T                    | -                               | 20,298                     
|Class B                    | -                               | 1,337                      
|Class C                    | -                               | 16,479                     
|International Growth       | -                               | 369,252                    
|Institutional Class        | -                               | 38,992                     
|Class Z                    | -                               | 88                         
|Total                      | $	-                             | $	513,441                  

Semiannual Report

10. Share Transactions.

Share transactions for each class were as follows and may contain automatic conversions between classes or exchanges between funds:

|                              | Shares                          | Dollars                    
|----------------------------- | ------------------------------- | ---------------------------
|                              | Six months ended
April 30,
2015 | Year ended
October 31,
2014
|Class A                       |                                 |                            
|Shares sold                   | 3,857,656                       | 6,584,484                  
|Reinvestment of distributions | 60,571                          | 27,068                     
|Shares redeemed               | (2,182,030)                     | (2,724,911)                
|Net increase (decrease)       | 1,736,197                       | 3,886,641                  
|Class T                       |                                 |                            
|Shares sold                   | 559,535                         | 834,072                    
|Reinvestment of distributions | 2,593                           | 5,459                      
|Shares redeemed               | (844,626)                       | (585,464)                  
|Net increase (decrease)       | (282,498)                       | 254,067                    
|Class B                       |                                 |                            
|Shares sold                   | 14,946                          | 35,020                     
|Reinvestment of distributions | -                               | 123                        
|Shares redeemed               | (63,374)                        | (53,583)                   
|Net increase (decrease)       | (48,428)                        | (18,440)                   
|Class C                       |                                 |                            
|Shares sold                   | 1,137,803                       | 1,827,859                  
|Reinvestment of distributions | -                               | 1,498                      
|Shares redeemed               | (428,330)                       | (426,678)                  
|Net increase (decrease)       | 709,473                         | 1,402,679                  
|International Growth          |                                 |                            
|Shares sold                   | 15,407,407                      | 27,835,093                 
|Reinvestment of distributions | 387,169                         | 197,948                    
|Shares redeemed               | (5,762,096)                     | (10,494,762)               
|Net increase (decrease)       | 10,032,480                      | 17,538,279                 
|Institutional Class           |                                 |                            
|Shares sold                   | 9,272,246                       | 10,292,704                 
|Reinvestment of distributions | 92,581                          | 24,180                     
|Shares redeemed               | (2,861,661)                     | (2,927,192)                
|Net increase (decrease)       | 6,503,166                       | 7,389,692                  
|Class Z                       |                                 |                            
|Reinvestment of distributions | 91                              | 64                         
|Shares redeemed               | (1,296)                         | (475)                      
|Net increase (decrease)       | (1,205)                         | (411)                      

Semiannual Report

Notes to Financial Statements (Unaudited) - continued

11. Other.

The Fund's organizational documents provide former and current trustees and officers with a limited indemnification against liabilities arising in connection with the performance of their duties to the Fund. In the normal course of business, the Fund may also enter into contracts that provide general indemnifications. The Fund's maximum exposure under these arrangements is unknown as this would be dependent on future claims that may be made against the Fund. The risk of material loss from such claims is considered remote.

Semiannual Report

Investment Adviser

Fidelity Management & Research Company
Boston, MA

Investment Sub-Advisers

FMR Co., Inc.

FMR Investment Management
	(U.K.) Limited

Fidelity Management & Research 
	(Hong Kong) Limited

Fidelity Management & Research 
	(Japan) Limited

FIL Investment Advisors

FIL Investments (Japan) Limited

FIL Investment Advisors
	(U.K.) Limited

General Distributor

Fidelity Distributors Corporation
Smithfield, RI

Transfer and Service Agent

Fidelity Investments Institutional
	Operations Company, Inc.
Boston, MA

Fidelity Service Company, Inc.
Boston, MA

Custodian

State Street Bank and Trust Company
Quincy, MA

The Fidelity Telephone Connection

Mutual Fund 24-Hour Service

Exchanges/Redemptions 
	and Account Assistance	1-800-544-6666

Product Information	1-800-544-8888

Retirement Accounts	1-800-544-4774 
	(8 a.m. - 9 p.m.)

TDD Service	1-800-544-0118
	for the deaf and hearing impaired
	(9 a.m. - 9 p.m. Eastern time)

Fidelity Automated Service  
	Telephone (FAST®)  int636	1-800-544-5555

int638	Automated line for quickest service

(Fidelity Investment logo)(registered trademark)Corporate Headquarters245 Summer St., Boston, MA 02210www.fidelity.com

`IGF-USAN-0615
1.912352.105`

(Fidelity Investment logo)(registered trademark)Fidelity Advisor®

International Small Cap

Fund - Class A, Class T, Class B 
and Class C

Semiannual Report

April 30, 2015(Fidelity Cover Art)

Class A, Class T, Class B, and 
Class C are classes of Fidelity®
International Small Cap Fund

---

# Contents

|Shareholder Expense Example                             | (Click Here) | An example of shareholder expenses.                                                                          
|------------------------------------------------------- | ------------ | -------------------------------------------------------------------------------------------------------------
|Investment Changes                                      | (Click Here) | A summary of major shifts in the fund's investments over the past six months.                                
|Investments                                             | (Click Here) | A complete list of the fund's investments with their market values.                                          
|Financial Statements                                    | (Click Here) | Statements of assets and liabilities, operations, and changes in net assets, as well as financial highlights.
|Notes                                                   | (Click Here) | Notes to financial statements.                                                                               
|Report of Independent Registered Public Accounting Firm | (Click Here) |                                                                                                              

To view a fund's proxy voting guidelines and proxy voting record for the 12-month period ended June 30, visit http://www.fidelity.com/proxyvotingresults or visit the Securities and Exchange Commission's (SEC) web site at http://www.sec.gov. You may also call 1-877-208-0098 to request a free copy of the proxy voting guidelines.

Standard & Poor's, S&P and S&P 500 are registered service marks of The McGraw-Hill Companies, Inc. and have been licensed for use by Fidelity Distributors Corporation.

Other third-party marks appearing herein are the property of their respective owners.

All other marks appearing herein are registered or unregistered trademarks or service marks of FMR LLC or an affiliated company. © 2015 FMR LLC. All rights reserved.

This report and the financial statements contained herein are submitted for the general information of the shareholders of the fund. This report is not authorized for distribution to prospective investors in the fund unless preceded or accompanied by an effective prospectus.

A fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-Q. Forms N-Q are available on the SEC's web site at http://www.sec.gov.A fund's Forms N-Q may be reviewed and copied at the SEC's Public Reference Room in Washington, DC. Information regarding the operation of the SEC's Public Reference Room may be obtained by calling 1-800-SEC-0330. For a complete list of a fund's portfolio holdings, view the most recent holdings listing, semiannual report, or annual report on Fidelity's web site at http://www.fidelity.com, http://www.advisor.fidelity.com, or http://www.401k.com, as applicable.

NOT FDIC INSURED • MAY LOSE VALUE • NO BANK GUARANTEE

Neither the fund nor Fidelity Distributors Corporation is a bank.

Semiannual Report

---

# Shareholder Expense Example

As a shareholder of the Fund, you incur two types of costs: (1) transaction costs, including sales charges (loads) on purchase payments or redemption proceeds, redemption fees and (2) ongoing costs, including management fees, distribution and/or service (12b-1) fees and other Fund expenses. This Example is intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds.

The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (November 1, 2014 to April 30, 2015).

Actual Expenses

The first line of the accompanying table for each class of the Fund provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000.00 (for example, an $8,600 account value divided by $1,000.00 = 8.6), then multiply the result by the number in the first line for a class of the Fund under the heading entitled "Expenses Paid During Period" to estimate the expenses you paid on your account during this period. A small balance maintenance fee of $12.00 that is charged once a year may apply for certain accounts with a value of less than $2,000. This fee is not included in the table below. If it was, the estimate of expenses you paid during the period would be higher, and your ending account value lower, by this amount. In addition, the Fund, as a shareholder in the underlying Fidelity Central Funds, will indirectly bear its pro-rata share of the fees and expenses incurred by the underlying Fidelity Central Funds. These fees and expenses are not included in the Fund's annualized expense ratio used to calculate the expense estimate in the table below.

Hypothetical Example for Comparison Purposes

The second line of the accompanying table for each class of the Fund provides information about hypothetical account values and hypothetical expenses based on a Class' actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Class' actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds. A small balance maintenance fee of $12.00 that is charged once a year may apply for certain accounts with a value of less than $2,000. This fee is not included in the table below. If it was, the estimate of expenses you paid during the period would be higher, and your ending account value lower, by this amount. In addition, the Fund, as a shareholder in the underlying Fidelity Central Funds, will indirectly bear its pro-rata share of the fees and expenses incurred by the underlying Fidelity Central Funds. These fees and expenses are not included in the Fund's annualized expense ratio used to calculate the expense estimate in the table below.

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transaction costs. Therefore, the second line of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.

Semiannual Report

Shareholder Expense Example - continued

|                        | Annualized
Expense RatioB | Beginning
Account Value
November 1, 2014 | Ending
Account Value
April 30, 2015 | Expenses Paid
During Period*November 1, 2014
to April 30, 2015
|----------------------- | ------------------------- | ---------------------------------------- | ----------------------------------- | --------------------------------------------------------------
|Class A                 | 1.53%                     |                                          |                                     |                                                               
|Actual                  |                           | $	1,000.00                               | $	1,112.20                          | $	8.01                                                        
|HypotheticalA           |                           | $	1,000.00                               | $	1,017.21                          | $	7.65                                                        
|Class T                 | 1.81%                     |                                          |                                     |                                                               
|Actual                  |                           | $	1,000.00                               | $	1,110.10                          | $	9.47                                                        
|HypotheticalA           |                           | $	1,000.00                               | $	1,015.82                          | $	9.05                                                        
|Class B                 | 2.31%                     |                                          |                                     |                                                               
|Actual                  |                           | $	1,000.00                               | $	1,107.60                          | $	12.07                                                       
|HypotheticalA           |                           | $	1,000.00                               | $	1,013.34                          | $	11.53                                                       
|Class C                 | 2.30%                     |                                          |                                     |                                                               
|Actual                  |                           | $	1,000.00                               | $	1,107.40                          | $	12.02                                                       
|HypotheticalA           |                           | $	1,000.00                               | $	1,013.39                          | $	11.48                                                       
|International Small Cap | 1.25%                     |                                          |                                     |                                                               
|Actual                  |                           | $	1,000.00                               | $	1,113.30                          | $	6.55                                                        
|HypotheticalA           |                           | $	1,000.00                               | $	1,018.60                          | $	6.26                                                        
|Institutional Class     | 1.19%                     |                                          |                                     |                                                               
|Actual                  |                           | $	1,000.00                               | $	1,113.70                          | $	6.24                                                        
|HypotheticalA           |                           | $	1,000.00                               | $	1,018.89                          | $	5.96                                                        

A5% return per year before expenses

BAnnualized expense ratio reflects expenses net of applicable fee waivers.

*Expenses are equal to each Class' annualized expense ratio, multiplied by the average account value over the period, multiplied by 181/365 (to reflect the one-half year period).

Semiannual Report



---

# Investment Changes (Unaudited)

|Geographic Diversification (% of fund's net assets)
|---------------------------------------------------
|As of April 30, 2015                               
|int646                                             
|int648                                             
|int650                                             
|int652                                             
|int654                                             
|int656                                             
|int658                                             
|int660                                             
|int662                                             
|int664                                             

int666

|*Includes Short-Term Investments and Net Other Assets (Liabilities).                                                               
|-----------------------------------------------------------------------------------------------------------------------------------
|Percentages are based on country or territory of incorporation and are adjusted for the effect of futures contracts, if applicable.

|As of October 31, 2014
|----------------------
|int668                
|int670                
|int672                
|int674                
|int676                
|int678                
|int680                
|int682                
|int684                
|int686                

int688

|*Includes Short-Term Investments and Net Other Assets (Liabilities).                                                               
|-----------------------------------------------------------------------------------------------------------------------------------
|Percentages are based on country or territory of incorporation and are adjusted for the effect of futures contracts, if applicable.

|Asset Allocation as of April 30, 2015                                       
|----------------------------------------------------------------------------
|                                                                            
|Stocks                                                                      
|Short-Term Investments and Net Other Assets (Liabilities)                   
|Top Ten Stocks as of April 30, 2015                                         
|                                                                            
|Tsuruha Holdings, Inc. (Japan, Food & Staples Retailing)                    
|EBOS Group Ltd. (New Zealand, Health Care Providers & Services)             
|Vontobel Holdings AG (Switzerland, Capital Markets)                         
|United Drug PLC (United Kingdom) (Ireland, Health Care Providers & Services)
|Close Brothers Group PLC (United Kingdom, Capital Markets)                  
|Frutarom Industries Ltd. (Israel, Chemicals)                                
|Jyske Bank A/S (Reg.) (Denmark, Banks)                                      
|Nitori Holdings Co. Ltd. (Japan, Specialty Retail)                          
|Allied World Assurance Co. (Switzerland, Insurance)                         
|TKC Corp. (Japan, IT Services)                                              
|                                                                            
|Market Sectors as of April 30, 2015                                         
|                                                                            
|Financials                                                                  
|Industrials                                                                 
|Consumer Discretionary                                                      
|Information Technology                                                      
|Health Care                                                                 
|Materials                                                                   
|Consumer Staples                                                            
|Energy                                                                      
|Utilities                                                                   
|Telecommunication Services                                                  

Semiannual Report



---

# Investments April 30, 2015

Showing Percentage of Net Assets

|Common Stocks - 94.3%                                      
|-----------------------------------------------------------
|                                                           
|Australia - 4.0%                                           
|Austal Ltd.                                                
|Bradken Ltd.                                               
|Challenger Ltd.                                            
|Charter Hall Group unit                                    
|GUD Holdings Ltd.                                          
|Imdex Ltd. (a)                                             
|Life Healthcare Group Ltd.                                 
|Nanosonics Ltd. (a)                                        
|RCG Corp. Ltd.                                             
|Slater & Gordon Ltd. (d)                                   
|SomnoMed Ltd. (a)                                          
|TOTAL AUSTRALIA                                            
|Austria - 1.4%                                             
|Andritz AG                                                 
|RHI AG                                                     
|TOTAL AUSTRIA                                              
|Bailiwick of Jersey - 1.3%                                 
|Kennedy Wilson Europe Real Estate PLC                      
|Regus PLC                                                  
|TOTAL BAILIWICK OF JERSEY                                  
|Belgium - 0.8%                                             
|Barco NV (d)                                               
|Econocom Group SA (d)                                      
|TOTAL BELGIUM                                              
|Bermuda - 2.6%                                             
|APT Satellite Holdings Ltd.                                
|BW Offshore Ltd.                                           
|Hiscox Ltd.                                                
|Petra Diamonds Ltd. (a)                                    
|Travelport Worldwide Ltd. (d)                              
|TOTAL BERMUDA                                              
|Brazil - 0.1%                                              
|QGEP Participacoes SA                                      
|British Virgin Islands - 0.2%                              
|Gem Diamonds Ltd.                                          
|Canada - 3.5%                                              
|AutoCanada, Inc. (d)                                       
|Common Stocks - continued                                  
|                                                           
|Canada - continued                                         
|Constellation Software, Inc.                               
|Constellation Software, Inc. rights 9/15/15 (a)            
|Dorel Industries, Inc. Class B (sub. vtg.)                 
|Genesis Land Development Corp.                             
|Jean Coutu Group, Inc. Class A (sub. vtg.)                 
|Lassonde Industries, Inc. Class A (sub. vtg.)              
|McCoy Global, Inc.                                         
|ShawCor Ltd. Class A                                       
|Whitecap Resources, Inc. (d)                               
|Whitecap Resources, Inc. rights (a)                        
|TOTAL CANADA                                               
|Cayman Islands - 3.7%                                      
|AMVIG Holdings Ltd.                                        
|Bonjour Holdings Ltd.                                      
|China High Precision Automation Group Ltd. (a)             
|China Metal Recycling (Holdings) Ltd. (a)                  
|Greatview Aseptic Pack Co. Ltd.                            
|Lifestyle International Holdings Ltd.                      
|Pico Far East Holdings Ltd.                                
|SITC International Holdings Co. Ltd.                       
|TOTAL CAYMAN ISLANDS                                       
|Chile - 0.6%                                               
|Quinenco SA                                                
|Denmark - 1.0%                                             
|Jyske Bank A/S (Reg.) (a)                                  
|Finland - 2.4%                                             
|Amer Group PLC (A Shares)                                  
|Asiakastieto Group Oyj (a)                                 
|Cramo Oyj (B Shares) (d)                                   
|Olvi PLC (A Shares)                                        
|Tikkurila Oyj (d)                                          
|TOTAL FINLAND                                              
|France - 3.6%                                              
|ALTEN                                                      
|Coface SA                                                  
|Faiveley Transport                                         
|Sopra Steria Group                                         
|The Lisi Group                                             
|The Vicat Group                                            
|Common Stocks - continued                                  
|                                                           
|France - continued                                         
|Thermador Groupe SA (d)                                    
|Wendel SA                                                  
|TOTAL FRANCE                                               
|Germany - 3.5%                                             
|AURELIUS AG                                                
|CompuGroup Medical AG                                      
|GEA Group AG                                               
|LEG Immobilien AG                                          
|LEONI AG                                                   
|SHW Group                                                  
|TOTAL GERMANY                                              
|Greece - 0.6%                                              
|Metka SA                                                   
|Motor Oil (HELLAS) Corinth Refineries SA                   
|TOTAL GREECE                                               
|Hong Kong - 2.1%                                           
|Dah Sing Banking Group Ltd.                                
|Far East Horizon Ltd.                                      
|Magnificent Estates Ltd.                                   
|Techtronic Industries Co. Ltd.                             
|TOTAL HONG KONG                                            
|India - 0.6%                                               
|Edelweiss Financial Services Ltd.                          
|McLeod Russel India Ltd.                                   
|TOTAL INDIA                                                
|Indonesia - 0.3%                                           
|PT Media Nusantara Citra Tbk                               
|Ireland - 2.1%                                             
|C&C Group PLC                                              
|Mincon Group PLC                                           
|United Drug PLC (United Kingdom)                           
|TOTAL IRELAND                                              
|Isle of Man - 0.4%                                         
|Optimal Payment PLC (a)(d)                                 
|Optimal Payment PLC rights 5/1/15 (a)                      
|TOTAL ISLE OF MAN                                          
|Common Stocks - continued                                  
|                                                           
|Israel - 1.1%                                              
|Frutarom Industries Ltd.                                   
|Italy - 0.9%                                               
|Banco di Desio e della Brianza SpA                         
|Cerved Information Solutions SpA                           
|Danieli & C. Officine Meccaniche SpA                       
|TOTAL ITALY                                                
|Japan - 19.9%                                              
|A/S One Corp.                                              
|ACOM Co. Ltd. (a)(d)                                       
|Aeon Delight Co. Ltd.                                      
|Ain Pharmaciez, Inc.                                       
|Arc Land Sakamoto Co. Ltd.                                 
|Broadleaf Co. Ltd.                                         
|Daiwa Industries Ltd.                                      
|Fuji Corp.                                                 
|Fukuda Denshi Co. Ltd.                                     
|Funai Soken Holdings, Inc.                                 
|GMO Internet, Inc.                                         
|Iida Group Holdings Co. Ltd.                               
|JSR Corp.                                                  
|KAWAI Musical Instruments Manufacturing Co. Ltd.           
|Kinugawa Rubber Industrial Co. Ltd.                        
|Kotobuki Spirits Co. Ltd.                                  
|Leopalace21 Corp. (a)                                      
|Meitec Corp.                                               
|Message Co. Ltd.                                           
|Miraca Holdings, Inc.                                      
|Mitani Shoji Co. Ltd.                                      
|Monex Group, Inc.                                          
|Nihon House Holdings Co. Ltd. (d)                          
|Nitori Holdings Co. Ltd.                                   
|Paramount Bed Holdings Co. Ltd.                            
|Ricoh Leasing Co. Ltd.                                     
|San-Ai Oil Co. Ltd.                                        
|Ship Healthcare Holdings, Inc.                             
|TKC Corp.                                                  
|Tokyo Ohka Kogyo Co. Ltd.                                  
|Toshiba Plant Systems & Services Corp.                     
|Toyo Suisan Kaisha Ltd.                                    
|Tsuruha Holdings, Inc.                                     
|Common Stocks - continued                                  
|                                                           
|Japan - continued                                          
|Uchiyama Holdings Co. Ltd.                                 
|VT Holdings Co. Ltd.                                       
|Welcia Holdings Co. Ltd.                                   
|Yamada Consulting Group Co. Ltd.                           
|TOTAL JAPAN                                                
|Korea (South) - 2.2%                                       
|BGFretail Co. Ltd                                          
|DGB Financial Group Co. Ltd.                               
|Fila Korea Ltd.                                            
|Hy-Lok Corp.                                               
|Nice Information & Telecom, Inc.                           
|NS Shopping Co. Ltd.                                       
|TK Corp. (a)                                               
|TOTAL KOREA (SOUTH)                                        
|Luxembourg - 0.9%                                          
|Grand City Properties SA (a)                               
|Malaysia - 0.3%                                            
|Kossan Rubber Industries Bhd                               
|Netherlands - 1.5%                                         
|Amsterdam Commodities NV                                   
|BinckBank NV                                               
|IMCD Group BV                                              
|TOTAL NETHERLANDS                                          
|New Zealand - 2.0%                                         
|EBOS Group Ltd.                                            
|Nuplex Industries Ltd.                                     
|TOTAL NEW ZEALAND                                          
|Norway - 2.0%                                              
|ABG Sundal Collier ASA (a)                                 
|Ekornes A/S                                                
|Kongsberg Gruppen ASA                                      
|Spectrum ASA                                               
|TOTAL NORWAY                                               
|Singapore - 2.4%                                           
|Amtek Engineering Ltd.                                     
|Boustead Projects Pte Ltd. (a)                             
|Boustead Singapore Ltd.                                    
|Hour Glass Ltd.                                            
|Common Stocks - continued                                  
|                                                           
|Singapore - continued                                      
|Mapletree Industrial (REIT)                                
|OSIM International Ltd.                                    
|Wing Tai Holdings Ltd.                                     
|TOTAL SINGAPORE                                            
|South Africa - 1.1%                                        
|Capitec Bank Holdings Ltd.                                 
|Clicks Group Ltd. (e)                                      
|TOTAL SOUTH AFRICA                                         
|Spain - 0.5%                                               
|Hispania Activos Inmobiliarios SA (a)                      
|Sweden - 0.7%                                              
|AddTech AB (B Shares)                                      
|Meda AB (A Shares)                                         
|TOTAL SWEDEN                                               
|Switzerland - 4.7%                                         
|Allied World Assurance Co.                                 
|Clariant AG (Reg.)                                         
|Daetwyler Holdings AG                                      
|Pargesa Holding SA                                         
|Vontobel Holdings AG                                       
|VZ Holding AG                                              
|TOTAL SWITZERLAND                                          
|Taiwan - 1.1%                                              
|King's Town Bank                                           
|Richtek Technology Corp.                                   
|Tripod Technology Corp.                                    
|TOTAL TAIWAN                                               
|Thailand - 1.1%                                            
|Delta Electronics PCL (For. Reg.)                          
|TISCO Financial Group PCL                                  
|TOTAL THAILAND                                             
|Turkey - 0.4%                                              
|Aygaz A/S                                                  
|United Kingdom - 15.4%                                     
|Aberdeen Asset Management PLC                              
|Alent PLC                                                  
|Common Stocks - continued                                  
|                                                           
|United Kingdom - continued                                 
|Amec Foster Wheeler PLC                                    
|Ashmore Group PLC (d)                                      
|Balfour Beatty PLC                                         
|BBA Aviation PLC                                           
|Bond International Software PLC                            
|Brammer PLC                                                
|Brewin Dolphin Holding PLC                                 
|Cineworld Group PLC                                        
|Close Brothers Group PLC                                   
|Countrywide PLC                                            
|Diploma PLC                                                
|Exova Group Ltd. PLC                                       
|Informa PLC                                                
|ITE Group PLC                                              
|Luxfer Holdings PLC sponsored ADR                          
|McColl's Retail Group PLC                                  
|Mears Group PLC                                            
|Meggitt PLC                                                
|Micro Focus International PLC                              
|Moneysupermarket.com Group PLC                             
|Provident Financial PLC                                    
|Pureprofile Media PLC (f)                                  
|Silverdell PLC (a)                                         
|Sinclair Pharma PLC (a)                                    
|Spectris PLC                                               
|Ultra Electronics Holdings PLC                             
|TOTAL UNITED KINGDOM                                       
|United States of America - 1.3%                            
|Dillard's, Inc. Class A                                    
|Hornbeck Offshore Services, Inc. (a)(d)                    
|YOU On Demand Holdings, Inc. warrants 8/30/17 (a)(f)       
|TOTAL UNITED STATES OF AMERICA                             
|TOTAL COMMON STOCKS
(Cost $735,420,879)                    
|Nonconvertible Preferred Stocks - 0.3%                     
|                                                           
|Brazil - 0.3%                                              
|Banco ABC Brasil SA
(Cost $2,337,722)                      
|Money Market Funds - 6.8%                                  
|                                                           
|Fidelity Cash Central Fund, 0.15% (b)                      
|Fidelity Securities Lending Cash Central Fund, 0.17% (b)(c)
|TOTAL MONEY MARKET FUNDS
(Cost $57,434,856)                
|TOTAL INVESTMENT PORTFOLIO - 101.4%
(Cost $795,193,457)    
|NET OTHER ASSETS (LIABILITIES) - (1.4)%                    
|NET ASSETS - 100%                                          

|Legend                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|(a)	Non-income producing                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|(b)	Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request.
|(c)	Investment made with cash collateral received from securities on loan.                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|(d)	Security or a portion of the security is on loan at period end.                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
|(e)	A portion of the security sold on a delayed delivery basis.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|(f)	Restricted securities - Investment in securities not registered under the Securities Act of 1933 (excluding 144A issues). At the end of the period, the value of restricted securities (excluding 144A issues) amounted to $892,580 or 0.1% of net assets.                                                                                                                                                                                                                                                                                 
|Additional information on each restricted holding is as follows:                                                                                                                                                                                                                                                                                                                                                                                                                                                                               

|Security                                      | Acquisition Date | Acquisition Cost
|--------------------------------------------- | ---------------- | ----------------
|Pureprofile Media PLC                         | 11/6/14          | $	958,676       
|YOU On Demand Holdings, Inc. warrants 8/30/17 | 9/14/12          | $	0             

|Affiliated Central Funds                                                                                                     
|-----------------------------------------------------------------------------------------------------------------------------
|Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:

|Fund                                          | Income earned
|--------------------------------------------- | -------------
|Fidelity Cash Central Fund                    | $	24,112     
|Fidelity Securities Lending Cash Central Fund | 70,251       
|Total                                         | $	94,363     

|Other Information                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|Categorizations in the Schedule of Investments are based on country or territory of incorporation.                                                                                                                                                                                                                                                                                                                                                                                             
|The following is a summary of the inputs used, as of April 30, 2015, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the tables below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

|Valuation Inputs at Reporting Date:
|-----------------------------------
|Description                        
|Investments in Securities:         
|Equities:                          
|Consumer Discretionary             
|Consumer Staples                   
|Energy                             
|Financials                         
|Health Care                        
|Industrials                        
|Information Technology             
|Materials                          
|Telecommunication Services         
|Utilities                          
|Money Market Funds                 
|Total Investments in Securities:   

|The following is a summary of transfers between Level 1 and Level 2 for the period ended April 30, 2015. Transfers are assumed to have occurred at the beginning of the period, and are primarily attributable to the valuation techniques used for foreign equity securities, as discussed in the accompanying Notes to Financial Statements:
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|Transfers          | Total        
|------------------ | -------------
|Level 1 to Level 2 | $	364,995,764
|Level 2 to Level 1 | $	132,207,907

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

---

# Financial Statements

## Statement of Assets and Liabilities

|                                                                                                                                                      | April 30, 2015
|----------------------------------------------------------------------------------------------------------------------------------------------------- | --------------
|                                                                                                                                                      |               
|Assets                                                                                                                                                |               
|Investment in securities, at value (including securities loaned of $16,131,033) - See accompanying schedule:
Unaffiliated issuers (cost $737,758,601) | $	799,527,213 
|Fidelity Central Funds (cost $57,434,856)                                                                                                             | 57,434,856    
|Total Investments (cost $795,193,457)                                                                                                                 |               
|Cash                                                                                                                                                  |               
|Foreign currency held at value (cost $209,409)                                                                                                        |               
|Receivable for investments sold                                                                                                                       |               
|Regular delivery                                                                                                                                      |               
|Delayed delivery                                                                                                                                      |               
|Receivable for fund shares sold                                                                                                                       |               
|Dividends receivable                                                                                                                                  |               
|Distributions receivable from Fidelity Central Funds                                                                                                  |               
|Prepaid expenses                                                                                                                                      |               
|Other receivables                                                                                                                                     |               
|Total assets                                                                                                                                          |               
|                                                                                                                                                      |               
|Liabilities                                                                                                                                           |               
|Payable for investments purchased                                                                                                                     | $	3,277,824   
|Payable for fund shares redeemed                                                                                                                      | 716,925       
|Accrued management fee                                                                                                                                | 625,388       
|Distribution and service plan fees payable                                                                                                            | 18,523        
|Other affiliated payables                                                                                                                             | 196,703       
|Other payables and accrued expenses                                                                                                                   | 187,342       
|Collateral on securities loaned, at value                                                                                                             | 16,973,028    
|Total liabilities                                                                                                                                     |               
|                                                                                                                                                      |               
|Net Assets                                                                                                                                            |               
|Net Assets consist of:                                                                                                                                |               
|Paid in capital                                                                                                                                       |               
|Undistributed net investment income                                                                                                                   |               
|Accumulated undistributed net realized gain (loss) on investments and foreign currency transactions                                                   |               
|Net unrealized appreciation (depreciation) on investments and assets and liabilities in foreign currencies                                            |               
|Net Assets                                                                                                                                            |               

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Statement of Assets and Liabilities - continued

|                                                                                                                              | April 30, 2015
|----------------------------------------------------------------------------------------------------------------------------- | --------------
|                                                                                                                              |               
|Calculation of Maximum Offering Price
Class A:
Net Asset Valueand redemption price per share ($25,862,836 ÷ 1,088,728 shares) |               
|                                                                                                                              |               
|Maximum offering price per share (100/94.25 of $23.76)                                                                        |               
|Class T:
Net Asset Value and redemption price per share ($11,893,094 ÷ 503,128 shares)                                        |               
|                                                                                                                              |               
|Maximum offering price per share (100/96.50 of $23.64)                                                                        |               
|Class B:
Net Asset Value and offering price per share ($429,593 ÷ 18,397 shares)A                                             |               
|                                                                                                                              |               
|Class C:
Net Asset Value and offering price per share ($10,044,782 ÷ 435,200 shares)A                                         |               
|                                                                                                                              |               
|International Small Cap:
Net Asset Value, offering price and redemption price per share ($787,896,354 ÷ 32,689,167 shares)    |               
|                                                                                                                              |               
|Institutional Class:
Net Asset Value, offering price and redemption price per share ($9,264,292 ÷ 381,484 shares)             |               

ARedemption price per share is equal to net asset value less any applicable contingent deferred sales charge.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

Financial Statements - continued

## Statement of Operations

|                                                                                                                                      | Six months ended April 30, 2015
|------------------------------------------------------------------------------------------------------------------------------------- | -------------------------------
|                                                                                                                                      |                                
|Investment Income                                                                                                                     |                                
|Dividends                                                                                                                             |                                
|Income from Fidelity Central Funds                                                                                                    |                                
|Income before foreign taxes withheld                                                                                                  |                                
|Less foreign taxes withheld                                                                                                           |                                
|Total income                                                                                                                          |                                
|                                                                                                                                      |                                
|Expenses                                                                                                                              |                                
|Management fee
Basic fee                                                                                                              | $	3,430,863                    
|Performance adjustment                                                                                                                | 243,998                        
|Transfer agent fees                                                                                                                   | 1,010,727                      
|Distribution and service plan fees                                                                                                    | 113,958                        
|Accounting and security lending fees                                                                                                  | 195,142                        
|Custodian fees and expenses                                                                                                           | 57,214                         
|Independent trustees' compensation                                                                                                    | 1,642                          
|Registration fees                                                                                                                     | 47,346                         
|Audit                                                                                                                                 | 81,974                         
|Legal                                                                                                                                 | 1,749                          
|Miscellaneous                                                                                                                         | 5,809                          
|Total expenses before reductions                                                                                                      | 5,190,422                      
|Expense reductions                                                                                                                    | (1,846)                        
|Net investment income (loss)                                                                                                          |                                
|Realized and Unrealized Gain (Loss)
Net realized gain (loss) on:                                                                      |                                
|Investment securities:                                                                                                                |                                
|Unaffiliated issuers (net of foreign taxes of $109,783)                                                                               | 8,825,411                      
|Foreign currency transactions                                                                                                         | (130,169)                      
|Total net realized gain (loss)                                                                                                        |                                
|Change in net unrealized appreciation (depreciation) on:
Investment securities (net of decrease in deferred foreign taxes of $51,983) | 69,433,131                     
|Assets and liabilities in foreign currencies                                                                                          | 33,718                         
|Total change in net unrealized appreciation (depreciation)                                                                            |                                
|Net gain (loss)                                                                                                                       |                                
|Netincrease (decrease) in net assets resulting from operations                                                                        |                                

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Statement of Changes in Net Assets

|                                                                                                                                                | Six months ended
April 30,
2015 | Year ended
October 31,
2014
|----------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------- | ---------------------------
|Increase (Decrease) in Net Assets                                                                                                               |                                 |                            
|Operations                                                                                                                                      |                                 |                            
|Net investment income (loss)                                                                                                                    | $	5,542,078                     | $	10,368,645               
|Net realized gain (loss)                                                                                                                        | 8,695,242                       | 226,736,010                
|Change in net unrealized appreciation (depreciation)                                                                                            | 69,466,849                      | (253,669,311)              
|Netincrease (decrease) in net assets resulting
from operations                                                                                  | 83,704,169                      | (16,564,656)               
|Distributions to shareholders from net investment income                                                                                        | (7,662,528)                     | (4,012,676)                
|Distributions to shareholders from net realized gain                                                                                            | (116,906,834)                   | (26,257,450)               
|Total distributions                                                                                                                             | (124,569,362)                   | (30,270,126)               
|Share transactions - net increase (decrease)                                                                                                    | (13,859,721)                    | (201,807,331)              
|Redemption fees                                                                                                                                 | 42,072                          | 276,780                    
|Total increase (decrease) in net assets                                                                                                         | (54,682,842)                    | (248,365,333)              
|                                                                                                                                                |                                 |                            
|Net Assets                                                                                                                                      |                                 |                            
|Beginning of period                                                                                                                             | 900,073,793                     | 1,148,439,126              
|End of period (including undistributed net investment income of $5,030,279 and undistributed net investment income of $7,150,729, respectively) | $	845,390,951                   | $	900,073,793              

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - Class A

|                                          | Six months ended
April 30, | Years ended October 31,
|----------------------------------------- | -------------------------- | -----------------------
|                                          | 2015                       | 2014                   
|Selected Per-Share Data                   |                            |                        
|Net asset value, beginning of period      | $	24.98                    | $	26.34                
|Income from Investment Operations         |                            |                        
|Net investment income (loss)E             | .13                        | .17                    
|Net realized and unrealized gain (loss)   | 2.26                       | (.89)                  
|Total from investment operations          | 2.39                       | (.72)                  
|Distributions from net investment income  | (.16)                      | (.05)                  
|Distributions from net realized gain      | (3.45)                     | (.60)                  
|Total distributions                       | (3.61)                     | (.65)                  
|Redemption fees added to paid in capitalE | -I                         | .01                    
|Net asset value, end of period            | $	23.76                    | $	24.98                
|Total ReturnB, C, D                       | 11.22%                     | (2.79)%                
|Ratios to Average Net AssetsF, H          |                            |                        
|Expenses before reductions                | 1.53%A                     | 1.50%                  
|Expenses net of fee waivers, if any       | 1.53%A                     | 1.50%                  
|Expenses net of all reductions            | 1.53%A                     | 1.50%                  
|Net investment income (loss)              | 1.12%A                     | .65%                   
|Supplemental Data                         |                            |                        
|Net assets, end of period (000 omitted)   | $	25,863                   | $	24,572               
|Portfolio turnover rate G                 | 27%A                       | 102%                   

AAnnualized

BTotal returns for periods of less than one year are not annualized.

CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

DTotal returns do not include the effect of the sales charges.

ECalculated based on average shares outstanding during the period.

FFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.

GAmount does not include the portfolio activity of any underlying Fidelity Central Funds.

HExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.

IAmount represents less than $.01 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - Class T

|                                          | Six months ended
April 30, | Years ended October 31,
|----------------------------------------- | -------------------------- | -----------------------
|                                          | 2015                       | 2014                   
|Selected Per-Share Data                   |                            |                        
|Net asset value, beginning of period      | $	24.81                    | $	26.17                
|Income from Investment Operations         |                            |                        
|Net investment income (loss)E             | .09                        | .10                    
|Net realized and unrealized gain (loss)   | 2.25                       | (.87)                  
|Total from investment operations          | 2.34                       | (.77)                  
|Distributions from net investment income  | (.06)                      | -                      
|Distributions from net realized gain      | (3.45)                     | (.60)                  
|Total distributions                       | (3.51)                     | (.60)                  
|Redemption fees added to paid in capitalE | -I                         | .01                    
|Net asset value, end of period            | $	23.64                    | $	24.81                
|Total ReturnB, C, D                       | 11.01%                     | (3.00)%                
|Ratios to Average Net AssetsF, H          |                            |                        
|Expenses before reductions                | 1.81%A                     | 1.77%                  
|Expenses net of fee waivers, if any       | 1.81%A                     | 1.77%                  
|Expenses net of all reductions            | 1.81%A                     | 1.76%                  
|Net investment income (loss)              | .85%A                      | .38%                   
|Supplemental Data                         |                            |                        
|Net assets, end of period (000 omitted)   | $	11,893                   | $	12,296               
|Portfolio turnover rate G                 | 27%A                       | 102%                   

AAnnualized

BTotal returns for periods of less than one year are not annualized.

CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

DTotal returns do not include the effect of the sales charges.

ECalculated based on average shares outstanding during the period.

FFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.

GAmount does not include the portfolio activity of any underlying Fidelity Central Funds.

HExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.

IAmount represents less than $.01 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - Class B

|                                          | Six months ended
April 30, | Years ended October 31,
|----------------------------------------- | -------------------------- | -----------------------
|                                          | 2015                       | 2014                   
|Selected Per-Share Data                   |                            |                        
|Net asset value, beginning of period      | $	24.51                    | $	25.87                
|Income from Investment Operations         |                            |                        
|Net investment income (loss)E             | .04                        | (.03)                  
|Net realized and unrealized gain (loss)   | 2.22                       | (.87)                  
|Total from investment operations          | 2.26                       | (.90)                  
|Distributions from net realized gain      | (3.42)                     | (.47)                  
|Redemption fees added to paid in capitalE | -I                         | .01                    
|Net asset value, end of period            | $	23.35                    | $	24.51                
|Total ReturnB, C, D                       | 10.76%                     | (3.52)%                
|Ratios to Average Net AssetsF, H          |                            |                        
|Expenses before reductions                | 2.31%A                     | 2.28%                  
|Expenses net of fee waivers, if any       | 2.31%A                     | 2.28%                  
|Expenses net of all reductions            | 2.31%A                     | 2.27%                  
|Net investment income (loss)              | .35%A                      | (.13)%                 
|Supplemental Data                         |                            |                        
|Net assets, end of period (000 omitted)   | $	430                      | $	507                  
|Portfolio turnover rate G                 | 27%A                       | 102%                   

AAnnualized

BTotal returns for periods of less than one year are not annualized.

CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

DTotal returns do not include the effect of the contingent deferred sales charge.

ECalculated based on average shares outstanding during the period.

FFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.

GAmount does not include the portfolio activity of any underlying Fidelity Central Funds.

HExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.

IAmount represents less than $.01 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - Class C

|                                          | Six months ended
April 30, | Years ended October 31,
|----------------------------------------- | -------------------------- | -----------------------
|                                          | 2015                       | 2014                   
|Selected Per-Share Data                   |                            |                        
|Net asset value, beginning of period      | $	24.27                    | $	25.68                
|Income from Investment Operations         |                            |                        
|Net investment income (loss)E             | .04                        | (.02)                  
|Net realized and unrealized gain (loss)   | 2.19                       | (.85)                  
|Total from investment operations          | 2.23                       | (.87)                  
|Distributions from net realized gain      | (3.42)                     | (.55)                  
|Redemption fees added to paid in capitalE | -I                         | .01                    
|Net asset value, end of period            | $	23.08                    | $	24.27                
|Total ReturnB, C, D                       | 10.74%                     | (3.43)%                
|Ratios to Average Net AssetsF, H          |                            |                        
|Expenses before reductions                | 2.30%A                     | 2.23%                  
|Expenses net of fee waivers, if any       | 2.30%A                     | 2.22%                  
|Expenses net of all reductions            | 2.30%A                     | 2.22%                  
|Net investment income (loss)              | .36%A                      | (.07)%                 
|Supplemental Data                         |                            |                        
|Net assets, end of period (000 omitted)   | $	10,045                   | $	12,576               
|Portfolio turnover rate G                 | 27%A                       | 102%                   

AAnnualized

BTotal returns for periods of less than one year are not annualized.

CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

DTotal returns do not include the effect of the contingent deferred sales charge.

ECalculated based on average shares outstanding during the period.

FFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.

GAmount does not include the portfolio activity of any underlying Fidelity Central Funds.

HExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.

IAmount represents less than $.01 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - International Small Cap

|                                          | Six months ended
April 30, | Years ended October 31,
|----------------------------------------- | -------------------------- | -----------------------
|                                          | 2015                       | 2014                   
|Selected Per-Share Data                   |                            |                        
|Net asset value, beginning of period      | $	25.34                    | $	26.67                
|Income from Investment Operations         |                            |                        
|Net investment income (loss)D             | .16                        | .25                    
|Net realized and unrealized gain (loss)   | 2.29                       | (.90)                  
|Total from investment operations          | 2.45                       | (.65)                  
|Distributions from net investment income  | (.24)                      | (.09)                  
|Distributions from net realized gain      | (3.45)                     | (.60)                  
|Total distributions                       | (3.69)                     | (.69)                  
|Redemption fees added to paid in capitalD | -H                         | .01                    
|Net asset value, end of period            | $	24.10                    | $	25.34                
|Total ReturnB, C                          | 11.33%                     | (2.48)%                
|Ratios to Average Net AssetsE, G          |                            |                        
|Expenses before reductions                | 1.26%A                     | 1.21%                  
|Expenses net of fee waivers, if any       | 1.25%A                     | 1.20%                  
|Expenses net of all reductions            | 1.25%A                     | 1.20%                  
|Net investment income (loss)              | 1.40%A                     | .95%                   
|Supplemental Data                         |                            |                        
|Net assets, end of period (000 omitted)   | $	787,896                  | $	842,031              
|Portfolio turnover rate F                 | 27%A                       | 102%                   

AAnnualized

BTotal returns for periods of less than one year are not annualized.

CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

DCalculated based on average shares outstanding during the period.

EFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.

FAmount does not include the portfolio activity of any underlying Fidelity Central Funds.

GExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.

HAmount represents less than $.01 per share.

ITotal distributions of $.46 per share is comprised of distributions from net investment income of $.136 and distributions from net realized gain of $.327 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - Institutional Class

|                                          | Six months ended
April 30, | Years ended October 31,
|----------------------------------------- | -------------------------- | -----------------------
|                                          | 2015                       | 2014                   
|Selected Per-Share Data                   |                            |                        
|Net asset value, beginning of period      | $	25.34                    | $	26.67                
|Income from Investment Operations         |                            |                        
|Net investment income (loss)D             | .17                        | .29                    
|Net realized and unrealized gain (loss)   | 2.30                       | (.90)                  
|Total from investment operations          | 2.47                       | (.61)                  
|Distributions from net investment income  | (.08)                      | (.13)                  
|Distributions from net realized gain      | (3.45)                     | (.60)                  
|Total distributions                       | (3.53)                     | (.73)                  
|Redemption fees added to paid in capitalD | -H                         | .01                    
|Net asset value, end of period            | $	24.28                    | $	25.34                
|Total ReturnB, C                          | 11.37%                     | (2.35)%                
|Ratios to Average Net AssetsE, G          |                            |                        
|Expenses before reductions                | 1.19%A                     | 1.08%                  
|Expenses net of fee waivers, if any       | 1.19%A                     | 1.08%                  
|Expenses net of all reductions            | 1.19%A                     | 1.08%                  
|Net investment income (loss)              | 1.47%A                     | 1.07%                  
|Supplemental Data                         |                            |                        
|Net assets, end of period (000 omitted)   | $	9,264                    | $	8,092                
|Portfolio turnover rateF                  | 27%A                       | 102%                   

AAnnualized

BTotal returns for periods of less than one year are not annualized.

CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

DCalculated based on average shares outstanding during the period.

EFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.

FAmount does not include the portfolio activity of any underlying Fidelity Central Funds.

GExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.

HAmount represents less than $.01 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

---

# Notes to Financial Statements

For the period ended April 30, 2015

1. Organization.

Fidelity® International Small Cap Fund (the Fund) is a fund of Fidelity Investment Trust (the Trust) and is authorized to issue an unlimited number of shares. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Massachusetts business trust. The Fund offers Class A, Class T, Class C, International Small Cap and Institutional Class shares, each of which, along with Class B shares, has equal rights as to assets and voting privileges. Class B shares are closed to new accounts and additional purchases, except for exchanges and reinvestments. Each class has exclusive voting rights with respect to matters that affect that class. Class B shares will automatically convert to Class A shares after a holding period of seven years from the initial date of purchase.

2. Investments in Fidelity Central Funds.

The Fund invests in Fidelity Central Funds, which are open-end investment companies generally available only to other investment companies and accounts managed by the investment adviser and its affiliates. The Fund's Schedule of Investments lists each of the Fidelity Central Funds held as of period end, if any, as an investment of the Fund, but does not include the underlying holdings of each Fidelity Central Fund. As an Investing Fund, the Fund indirectly bears its proportionate share of the expenses of the underlying Fidelity Central Funds.

The Money Market Central Funds seek preservation of capital and current income and are managed by Fidelity Investments Money Management, Inc. (FIMM), an affiliate of the investment adviser. Annualized expenses of the Money Market Central Funds as of their most recent shareholder report date are less than .01%.

A complete unaudited list of holdings for each Fidelity Central Fund is available upon request or at the Securities and Exchange Commission (the SEC) website at www.sec.gov. In addition, the financial statements of the Fidelity Central Funds, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC website or upon request.

3. Significant Accounting Policies.

The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP), which require management to make certain estimates and assumptions at the date of the financial statements. Actual results could differ from those estimates. Subsequent events, if any, through the date that the financial statements were issued have been evaluated in the preparation of

Semiannual Report

Notes to Financial Statements - continued

3. Significant Accounting Policies - continued

the financial statements. The following summarizes the significant accounting policies of the Fund:

Investment Valuation.Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. The Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fidelity Management & Research Company (FMR) Fair Value Committee (the Committee). In accordance with valuation policies and procedures approved by the Board, the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund's valuation policies and procedures and reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee.

The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels as shown below:

Level 1 - quoted prices in active markets for identical investments

Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, etc.)

Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available)

Valuation techniques used to value the Fund's investments by major category are as follows:

Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing vendor on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs),

Semiannual Report

3. Significant Accounting Policies - continued

Investment Valuation - continued

futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. Utilizing these techniques may result in transfers between Level 1 and Level 2. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy.

Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy.

Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. The aggregate value of investments by input level, as of April 30, 2015, including information on transfers between Levels 1 and 2, is included at the end of the Fund's Schedule of Investments.

Foreign Currency.The Fund may use foreign currency contracts to facilitate transactions in foreign-denominated securities. Gains and losses from these transactions may arise from changes in the value of the foreign currency or if the counterparties do not perform under the contracts' terms.

Foreign-denominated assets, including investment securities, and liabilities are translated into U.S. dollars at the exchange rates at period end. Purchases and sales of investment securities, income and dividends received and expenses denominated in foreign currencies are translated into U.S. dollars at the exchange rate in effect on the transaction date.

The effects of exchange rate fluctuations on investments are included with the net realized and unrealized gain (loss) on investment securities. Other foreign currency transactions resulting in realized and unrealized gain (loss) are disclosed separately.

Investment Transactions and Income.For financial reporting purposes, the Fund's investment holdings and NAV include trades executed through the end of the last business day of the period. The NAV per share for processing shareholder transactions is calculated as of the close of business of the New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time and includes trades executed through the end of the prior business day. Gains and losses on securities sold are determined on the basis of identified cost and may include proceeds received from litigation. Dividend income is recorded on the ex-dividend date, except for certain dividends from foreign securities where the ex-dividend date may have passed, which are recorded as soon as the Fund is informed of the ex-dividend date. Non-cash dividends included in dividend income, if any, are

Semiannual Report

Notes to Financial Statements - continued

3. Significant Accounting Policies - continued

Investment Transactions and Income - continued

recorded at the fair market value of the securities received. Income and capital gain distributions from Fidelity Central Funds, if any, are recorded on the ex-dividend date. Distributions received on securities that represent a return of capital or capital gain are recorded as a reduction of cost of investments and/or as a realized gain. Subsequent to ex-dividend date the Fund determines the components of these distributions, based upon receipt of tax filings or other correspondence relating to the underlying investment. Investment income is recorded net of foreign taxes withheld where recovery of such taxes is uncertain.

Class Allocations andExpenses. Investment income, realized and unrealized capital gains and losses, common expenses of the Fund, and certain fund-level expense reductions, if any, are allocated daily on a pro-rata basis to each class based on the relative net assets of each class to the total net assets of the Fund. Each class differs with respect to transfer agent and distribution and service plan fees incurred. Certain expense reductions may also differ by class. For the reporting period, the allocated portion of income and expenses to each class as a percent of its average net assets may vary due to the timing of recording these transactions in relation to fluctuating net assets of the classes. Expenses directly attributable to a fund are charged to that fund. Expenses attributable to more than one fund are allocated among the respective funds on the basis of relative net assets or other appropriate methods. Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.

Income Tax Information and Distributions to Shareholders. Each year, the Fund intends to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code, including distributing substantially all of its taxable income and realized gains. As a result, no provision for U.S. Federal income taxes is required. The Fund files a U.S. federal tax return, in addition to state and local tax returns as required. The Fund's federal income tax returns are subject to examination by the Internal Revenue Service (IRS) for a period of three fiscal years after they are filed. State and local tax returns may be subject to examination for an additional fiscal year depending on the jurisdiction. Foreign taxes are provided for based on the Fund's understanding of the tax rules and rates that exist in the foreign markets in which it invests. The Fund is subject to a tax imposed on capital gains by certain countries in which it invests. An estimated deferred tax liability for net unrealized appreciation on the applicable securities is included in Other payables and accrued expenses on the Statement of Assets & Liabilities.

Distributions are declared and recorded on the ex-dividend date. Income dividends and capital gain distributions are declared separately for each class. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP.

Semiannual Report

3. Significant Accounting Policies - continued

Income Tax Information and Distributions to Shareholders - continued

Capital accounts within the financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations. Capital accounts are not adjusted for temporary book-tax differences which will reverse in a subsequent period.

Book-tax differences are primarily due to futures contracts, foreign currency transactions, passive foreign investment companies (PFIC), capital loss carryforwards and losses deferred due to wash sales.

The federal tax cost of investment securities and unrealized appreciation (depreciation) as of period end were as follows:

|Gross unrealized appreciation                            | $	115,135,403
|-------------------------------------------------------- | -------------
|Gross unrealized depreciation                            | (61,115,594) 
|Net unrealized appreciation (depreciation) on securities | $	54,019,809 
|                                                         |              
|Tax cost                                                 | $	802,942,260

Short-Term Trading (Redemption) Fees. Shares held by investors in the Fund less than 90 days may have been subject to a redemption fee equal to 2.00% of the NAV of shares redeemed. All redemption fees, which reduce the proceeds of the shareholder redemption, are retained by the Fund and accounted for as an addition to paid in capital.

Delayed Delivery Transactions and When-Issued Securities. During the period, the Fund transacted in securities on a delayed delivery or when-issued basis. Payment and delivery may take place after the customary settlement period for that security. The price of the underlying securities and the date when the securities will be delivered and paid for are fixed at the time the transaction is negotiated. With respect to purchase commitments, the Fund identifies securities as segregated in its records with a value at least equal to the amount of the commitment. Losses may arise due to changes in the value of the underlying securities or if the counterparty does not perform under the contract's terms, or if the issuer does not issue the securities due to political, economic, or other factors.

Restricted Securities. The Fund may invest in securities that are subject to legal or contractual restrictions on resale. These securities generally may be resold in transactions exempt from registration or to the public if the securities are registered. Disposal of these securities may involve time-consuming negotiations and expense, and prompt sale at an acceptable price may be difficult. Information regarding restricted securities is included at the end of the Fund's Schedule of Investments.

Semiannual Report

Notes to Financial Statements - continued

3. Significant Accounting Policies - continued

New Accounting Pronouncement.In June 2014, the Financial Accounting Standards Board issued Accounting Standard Update No. 2014-11, Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures (the Update). The Update amends the accounting for certain repurchase agreements and expands disclosure requirements for reverse repurchase agreements, securities lending and other similar transactions. The disclosure requirements are effective for annual and interim reporting periods beginning after December 15, 2014. Management is currently evaluating the impact of the Update on the Fund's financial statements and related disclosures.

4. Purchases and Sales of Investments.

Purchases and sales of securities, other than short-term securities, aggregated $105,012,023 and $243,700,527, respectively.

5. Fees and Other Transactions with Affiliates.

Management Fee. Fidelity Management & Research Company (the investment adviser) and its affiliates provide the Fund with investment management related services for which the Fund pays a monthly management fee. The management fee is the sum of an individual fund fee rate that is based on an annual rate of .60% of the Fund's average net assets and an annualized group fee rate that averaged .25% during the period. The group fee rate is based upon the average net assets of all the mutual funds advised by the investment adviser, including any mutual funds previously advised by the investment adviser that are currently advised by Fidelity SelectCo, LLC, an affiliate of the investment adviser. The group fee rate decreases as assets under management increase and increases as assets under management decrease. In addition, the management fee is subject to a performance adjustment (up to a maximum of ± .20% of the Fund's average net assets over a 36 month performance period). The upward or downward adjustment to the management fee is based on the relative investment performance of International Small Cap as compared to its benchmark index, the MSCI All Country World ex USA Small Cap Index effective April 1, 2014 (the MSCI EAFE Small Cap Index prior to April 1, 2014), over the same 36 month performance period. For the reporting period, the total annualized management fee rate, including the performance adjustment, was .91% of the Fund's average net assets. The performance adjustment included in the management fee rate may be higher or lower than the maximum performance adjustment rate due to the difference between the average net assets for the reporting and performance periods.

Semiannual Report

5. Fees and Other Transactions with Affiliates - continued

Distribution and Service Plan Fees. In accordance with Rule 12b-1 of the 1940 Act, the Fund has adopted separate Distribution and Service Plans for each class of shares. Certain classes pay Fidelity Distributors Corporation (FDC), an affiliate of the investment adviser, separate Distribution and Service Fees, each of which is based on an annual percentage of each class' average net assets. In addition, FDC may pay financial intermediaries for selling shares of the Fund and providing shareholder support services. For the period, the Distribution and Service Fee rates, total fees and amounts retained by FDC were as follows:

|        | Distribution
Fee | Service
Fee | Total Fees | Retained
by FDC
|------- | ---------------- | ----------- | ---------- | ---------------
|Class A | -%               | .25%        | $	29,572   | $	757          
|Class T | .25%             | .25%        | 28,884     | 336            
|Class B | .75%             | .25%        | 2,235      | 1,689          
|Class C | .75%             | .25%        | 53,267     | 6,474          
|        |                  |             | $	113,958  | $	9,256        

Sales Load. FDC may receive a front-end sales charge of up to 5.75% for selling Class A shares and 3.50% for selling Class T shares, some of which is paid to financial intermediaries for selling shares of the Fund. Depending on the holding period, FDC may receive contingent deferred sales charges levied on Class A, Class T, Class B, and Class C redemptions. The deferred sales charges range from 5.00% to 1.00% for Class B shares, 1.00% for Class C shares, 1.00% for certain purchases of Class A shares and .25% for certain purchases of Class T shares.

For the period, sales charge amounts retained by FDC were as follows:

|         | Retained
by FDC
|-------- | ---------------
|Class A  | $	7,739        
|Class T  | 1,570          
|Class B* | 32             
|Class C* | 2,195          
|         | $	11,536       

*When Class B and Class C shares are initially sold, FDC pays commissions from its own resources to financial intermediaries through which the sales are made.

Transfer Agent Fees.Fidelity Investments Institutional Operations Company, Inc., (FIIOC), an affiliate of the investment adviser, is the transfer, dividend disbursing and shareholder servicing agent for each class of the Fund. FIIOC receives account fees and asset-based fees that vary according to the account size and type of account of the shareholders of the respective classes of the Fund FIIOC pays for typesetting, printing and mailing of shareholder reports, except proxy statements.

Semiannual Report

Notes to Financial Statements - continued

5. Fees and Other Transactions with Affiliates - continued

Transfer Agent Fees - continued

For the period, transfer agent fees for each class were as follows:

|                        | Amount      | % of
Class-Level Average
Net Assets*
|----------------------- | ----------- | ------------------------------------
|Class A                 | $	32,791    | .28                                 
|Class T                 | 17,512      | .30                                 
|Class B                 | 664         | .30                                 
|Class C                 | 15,566      | .29                                 
|International Small Cap | 936,865     | .25                                 
|Institutional Class     | 7,329       | .18                                 
|                        | $	1,010,727 |                                     

*	Annualized

Accounting and Security Lending Fees.Fidelity Service Company, Inc. (FSC), an affiliate of the investment adviser, maintains the Fund's accounting records. The accounting fee is based on the level of average net assets for each month. Under a separate contract, FSC administers the security lending program. The security lending fee is based on the number and duration of lending transactions.

Brokerage Commissions.The Fund placed a portion of its portfolio transactions with brokerage firms which are affiliates of the investment adviser. Brokerage commissions are included in net realized gain (loss) and change in net unrealized appreciation (depreciation) in the Statement of Operations. The commissions paid to these affiliated firms were $262 for the period.

Other.During the period, the investment adviser reimbursed the Fund for certain losses in the amount of $1,975.

6. Committed Line of Credit.

The Fund participates with other funds managed by the investment adviser or an affiliate in a $4.25 billion credit facility (the "line of credit") to be utilized for temporary or emergency purposes to fund shareholder redemptions or for other short-term liquidity purposes. The Fund has agreed to pay commitment fees on its pro-rata portion of the line of credit, which amounted to $650 and is reflected in Miscellaneous expenses on the Statement of Operations. During the period, the Fund did not borrow on this line of credit.

Semiannual Report

7. Security Lending.

The Fund lends portfolio securities through a lending agent from time to time in order to earn additional income. For equity securities, a lending agent is used and may loan securities to certain qualified borrowers, including Fidelity Capital Markets (FCM), a broker-dealer affiliated with the Fund. On the settlement date of the loan, the Fund receives collateral (in the form of U.S. Treasury obligations, letters of credit and/or cash) against the loaned securities and maintains collateral in an amount not less than 100% of the market value of the loaned securities during the period of the loan. The market value of the loaned securities is determined at the close of business of the Fund and any additional required collateral is delivered to the Fund on the next business day. If the borrower defaults on its obligation to return the securities loaned because of insolvency or other reasons, the Fund may apply collateral received from the borrower against the obligation. The Fund may experience delays and costs in recovering the securities loaned. Any cash collateral received is invested in the Fidelity Securities Lending Cash Central Fund. The value of loaned securities and cash collateral at period end are disclosed on the Fund's Statement of Assets and Liabilities. The value of securities loaned to FCM at period end was $494,737. Security lending income represents the income earned on investing cash collateral, less rebates paid to borrowers and any lending agent fees associated with the loan, plus any premium payments received for lending certain types of securities. Security lending income is presented in the Statement of Operations as a component of income from Fidelity Central Funds. Total security lending income during the period amounted to $70,251, including $125 from securities loaned to FCM.

8. Expense Reductions.

Through arrangements with the Fund's custodian, credits realized as a result of uninvested cash balances were used to reduce the Fund's expenses. During the period, these credits reduced the Fund's custody expenses by $11.

In addition, the investment adviser reimbursed a portion of the Fund's operating expenses, including certain International Small Cap expenses during the period in the amount of $1,835.

Semiannual Report

Notes to Financial Statements - continued

9. Distributions to Shareholders.

Distributions to shareholders of each class were as follows:

|                           | Six months ended
April 30,
2015 | Year ended
October 31,
2014
|-------------------------- | ------------------------------- | ---------------------------
|From net investment income |                                 |                            
|Class A                    | $	155,785                       | $	48,210                   
|Class T                    | 27,108                          | -                          
|International Small Cap    | 7,454,709                       | 3,601,146                  
|Institutional Class        | 24,926                          | 363,320                    
|Total                      | $	7,662,528                     | $	4,012,676                
|From net realized gain     |                                 |                            
|Class A                    | $	3,382,206                     | $	564,345                  
|Class T                    | 1,671,017                       | 310,220                    
|Class B                    | 66,002                          | 14,343                     
|Class C                    | 1,697,539                       | 305,689                    
|International Small Cap    | 109,040,767                     | 23,368,303                 
|Institutional Class        | 1,049,303                       | 1,694,550                  
|Total                      | $	116,906,834                   | $	26,257,450               

10. Share Transactions.

Share transactions for each class were as follows and may contain automatic conversions between classes or exchanges between funds:

|                              | Shares                          | Dollars                    
|----------------------------- | ------------------------------- | ---------------------------
|                              | Six months ended
April 30,
2015 | Year ended
October 31,
2014
|Class A                       |                                 |                            
|Shares sold                   | 144,281                         | 355,842                    
|Reinvestment of distributions | 159,613                         | 22,103                     
|Shares redeemed               | (198,700)                       | (306,489)                  
|Net increase (decrease)       | 105,194                         | 71,456                     
|Class T                       |                                 |                            
|Shares sold                   | 36,510                          | 115,645                    
|Reinvestment of distributions | 77,005                          | 11,686                     
|Shares redeemed               | (106,019)                       | (148,659)                  
|Net increase (decrease)       | 7,496                           | (21,328)                   
|Class B                       |                                 |                            
|Shares sold                   | 407                             | 3,137                      
|Reinvestment of distributions | 2,954                           | 538                        
|Shares redeemed               | (5,642)                         | (13,726)                   
|Net increase (decrease)       | (2,281)                         | (10,051)                   

Semiannual Report

10. Share Transactions - continued

|                              | Shares                          | Dollars                    
|----------------------------- | ------------------------------- | ---------------------------
|                              | Six months ended
April 30,
2015 | Year ended
October 31,
2014
|Class C                       |                                 |                            
|Shares sold                   | 52,097                          | 207,733                    
|Reinvestment of distributions | 71,584                          | 10,499                     
|Shares redeemed               | (206,727)                       | (222,725)                  
|Net increase (decrease)       | (83,046)                        | (4,493)                    
|International Small Cap       |                                 |                            
|Shares sold                   | 2,614,655                       | 7,158,603                  
|Reinvestment of distributions | 5,231,399                       | 988,313                    
|Shares redeemed               | (8,385,024)                     | (13,529,838)               
|Net increase (decrease)       | (538,970)                       | (5,382,922)                
|Institutional Class           |                                 |                            
|Shares sold                   | 106,777                         | 1,844,038                  
|Reinvestment of distributions | 46,102                          | 61,170                     
|Shares redeemed               | (90,716)                        | (4,099,284)                
|Net increase (decrease)       | 62,163                          | (2,194,076)                

11. Other.

The Fund's organizational documents provide former and current trustees and officers with a limited indemnification against liabilities arising in connection with the performance of their duties to the Fund. In the normal course of business, the Fund may also enter into contracts that provide general indemnifications. The Fund's maximum exposure under these arrangements is unknown as this would be dependent on future claims that may be made against the Fund. The risk of material loss from such claims is considered remote.

At the end of the period, the investment adviser or its affiliates were the owners of record of 16% of the total outstanding shares of the Fund.

Semiannual Report

---

# Report of Independent Registered Public Accounting Firm

To the Trustees of Fidelity Investment Trust and Shareholders of Fidelity International Small Cap Fund:

We have audited the accompanying statement of assets and liabilities of Fidelity International Small Cap Fund (the Fund), a fund of Fidelity Investment Trust, including the schedule of investments, as of April 30, 2015, and the related statement of operations for the six months then ended, the statements of changes in net assets for the six months ended April 30, 2015 and for the year ended October 31, 2014, and the financial highlights for the six months ended April 30, 2015 and for each of the five years in the period ended October 31, 2014. These financial statements and financial highlights are the responsibility of the Fund's management. Our responsibility is to express an opinion on these financial statements and financial highlights based on our audits.

We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements and financial highlights are free of material misstatement. The Fund is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. Our audits included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Fund's internal control over financial reporting. Accordingly, we express no such opinion. An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. Our procedures included confirmation of securities owned as of April 30, 2015, by correspondence with the custodians and brokers; where replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the financial statements and financial highlights referred to above present fairly, in all material respects, the financial position of Fidelity International Small Cap Fund as of April 30, 2015, the results of its operations for the six months then ended, the changes in its net assets for the six months ended April 30, 2015 and for the year ended October 31, 2014, and the financial highlights for the six months ended April 30, 2015 and for each of the five years in the period ended October 31, 2014, in conformity with accounting principles generally accepted in the United States of America.

DELOITTE & TOUCHE LLP

Boston, Massachusetts

June 18, 2015

Semiannual Report

Investment Adviser

Fidelity Management & Research Company

Boston, MA

Investment Sub-Advisers

FMR Co., Inc.

FMR Investment Management
(U.K.) Limited

Fidelity Management & Research
(Hong Kong) Limited

Fidelity Management & Research
(Japan) Limited

FIL Investment Advisors

FIL Investments (Japan) Limited

FIL Investment Advisors (UK) Limited

General Distributor

Fidelity Distributors Corporation

Smithfield, RI

Transfer and Service Agents

Fidelity Investments Institutional Operations Company, Inc.

Boston, MA

Fidelity Service Company, Inc.

Boston, MA

Custodian

The Bank of New York Mellon

New York, NY



(Fidelity Investment logo)(registered trademark)

`AISC-USAN-0615
1.800643.111`

(Fidelity Investment logo)(registered trademark)Fidelity Advisor®

International Small Cap

Fund - Institutional Class

Semiannual Report

April 30, 2015(Fidelity Cover Art)

Institutional Class is a class of 
Fidelity® International Small Cap Fund

---

# Contents

|Shareholder Expense Example                             | (Click Here) | An example of shareholder expenses.                                                                          
|------------------------------------------------------- | ------------ | -------------------------------------------------------------------------------------------------------------
|Investment Changes                                      | (Click Here) | A summary of major shifts in the fund's investments over the past six months.                                
|Investments                                             | (Click Here) | A complete list of the fund's investments with their market values.                                          
|Financial Statements                                    | (Click Here) | Statements of assets and liabilities, operations, and changes in net assets, as well as financial highlights.
|Notes                                                   | (Click Here) | Notes to financial statements.                                                                               
|Report of Independent Registered Public Accounting Firm | (Click Here) |                                                                                                              

To view a fund's proxy voting guidelines and proxy voting record for the 12-month period ended June 30, visit http://www.fidelity.com/proxyvotingresults or visit the Securities and Exchange Commission's (SEC) web site at http://www.sec.gov. You may also call 1-877-208-0098 to request a free copy of the proxy voting guidelines.

Standard & Poor's, S&P and S&P 500 are registered service marks of The McGraw-Hill Companies, Inc. and have been licensed for use by Fidelity Distributors Corporation.

Other third-party marks appearing herein are the property of their respective owners.

All other marks appearing herein are registered or unregistered trademarks or service marks of FMR LLC or an affiliated company. © 2015 FMR LLC. All rights reserved.

This report and the financial statements contained herein are submitted for the general information of the shareholders of the fund. This report is not authorized for distribution to prospective investors in the fund unless preceded or accompanied by an effective prospectus.

A fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-Q. Forms N-Q are available on the SEC's web site at http://www.sec.gov.A fund's Forms N-Q may be reviewed and copied at the SEC's Public Reference Room in Washington, DC. Information regarding the operation of the SEC's Public Reference Room may be obtained by calling 1-800-SEC-0330. For a complete list of a fund's portfolio holdings, view the most recent holdings listing, semiannual report, or annual report on Fidelity's web site at http://www.fidelity.com, http://www.advisor.fidelity.com, or http://www.401k.com, as applicable.

NOT FDIC INSURED • MAY LOSE VALUE • NO BANK GUARANTEE

Neither the fund nor Fidelity Distributors Corporation is a bank.

Semiannual Report

---

# Shareholder Expense Example

As a shareholder of the Fund, you incur two types of costs: (1) transaction costs, including sales charges (loads) on purchase payments or redemption proceeds, redemption fees and (2) ongoing costs, including management fees, distribution and/or service (12b-1) fees and other Fund expenses. This Example is intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds.

The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (November 1, 2014 to April 30, 2015).

Actual Expenses

The first line of the accompanying table for each class of the Fund provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000.00 (for example, an $8,600 account value divided by $1,000.00 = 8.6), then multiply the result by the number in the first line for a class of the Fund under the heading entitled "Expenses Paid During Period" to estimate the expenses you paid on your account during this period. A small balance maintenance fee of $12.00 that is charged once a year may apply for certain accounts with a value of less than $2,000. This fee is not included in the table below. If it was, the estimate of expenses you paid during the period would be higher, and your ending account value lower, by this amount. In addition, the Fund, as a shareholder in the underlying Fidelity Central Funds, will indirectly bear its pro-rata share of the fees and expenses incurred by the underlying Fidelity Central Funds. These fees and expenses are not included in the Fund's annualized expense ratio used to calculate the expense estimate in the table below.

Hypothetical Example for Comparison Purposes

The second line of the accompanying table for each class of the Fund provides information about hypothetical account values and hypothetical expenses based on a Class' actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Class' actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds. A small balance maintenance fee of $12.00 that is charged once a year may apply for certain accounts with a value of less than $2,000. This fee is not included in the table below. If it was, the estimate of expenses you paid during the period would be higher, and your ending account value lower, by this amount. In addition, the Fund, as a shareholder in the underlying Fidelity Central Funds, will indirectly bear its pro-rata share of the fees and expenses incurred by the underlying Fidelity Central Funds. These fees and expenses are not included in the Fund's annualized expense ratio used to calculate the expense estimate in the table below.

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transaction costs. Therefore, the second line of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.

Semiannual Report

Shareholder Expense Example - continued

|                        | Annualized
Expense RatioB | Beginning
Account Value
November 1, 2014 | Ending
Account Value
April 30, 2015 | Expenses Paid
During Period*November 1, 2014
to April 30, 2015
|----------------------- | ------------------------- | ---------------------------------------- | ----------------------------------- | --------------------------------------------------------------
|Class A                 | 1.53%                     |                                          |                                     |                                                               
|Actual                  |                           | $	1,000.00                               | $	1,112.20                          | $	8.01                                                        
|HypotheticalA           |                           | $	1,000.00                               | $	1,017.21                          | $	7.65                                                        
|Class T                 | 1.81%                     |                                          |                                     |                                                               
|Actual                  |                           | $	1,000.00                               | $	1,110.10                          | $	9.47                                                        
|HypotheticalA           |                           | $	1,000.00                               | $	1,015.82                          | $	9.05                                                        
|Class B                 | 2.31%                     |                                          |                                     |                                                               
|Actual                  |                           | $	1,000.00                               | $	1,107.60                          | $	12.07                                                       
|HypotheticalA           |                           | $	1,000.00                               | $	1,013.34                          | $	11.53                                                       
|Class C                 | 2.30%                     |                                          |                                     |                                                               
|Actual                  |                           | $	1,000.00                               | $	1,107.40                          | $	12.02                                                       
|HypotheticalA           |                           | $	1,000.00                               | $	1,013.39                          | $	11.48                                                       
|International Small Cap | 1.25%                     |                                          |                                     |                                                               
|Actual                  |                           | $	1,000.00                               | $	1,113.30                          | $	6.55                                                        
|HypotheticalA           |                           | $	1,000.00                               | $	1,018.60                          | $	6.26                                                        
|Institutional Class     | 1.19%                     |                                          |                                     |                                                               
|Actual                  |                           | $	1,000.00                               | $	1,113.70                          | $	6.24                                                        
|HypotheticalA           |                           | $	1,000.00                               | $	1,018.89                          | $	5.96                                                        

A5% return per year before expenses

BAnnualized expense ratio reflects expenses net of applicable fee waivers.

*Expenses are equal to each Class' annualized expense ratio, multiplied by the average account value over the period, multiplied by 181/365 (to reflect the one-half year period).

Semiannual Report



---

# Investment Changes (Unaudited)

|Geographic Diversification (% of fund's net assets)
|---------------------------------------------------
|As of April 30, 2015                               
|int696                                             
|int698                                             
|int700                                             
|int702                                             
|int704                                             
|int706                                             
|int708                                             
|int710                                             
|int712                                             
|int714                                             

int716

|*Includes Short-Term Investments and Net Other Assets (Liabilities).                                                               
|-----------------------------------------------------------------------------------------------------------------------------------
|Percentages are based on country or territory of incorporation and are adjusted for the effect of futures contracts, if applicable.

|As of October 31, 2014
|----------------------
|int718                
|int720                
|int722                
|int724                
|int726                
|int728                
|int730                
|int732                
|int734                
|int736                

int738

|*Includes Short-Term Investments and Net Other Assets (Liabilities).                                                               
|-----------------------------------------------------------------------------------------------------------------------------------
|Percentages are based on country or territory of incorporation and are adjusted for the effect of futures contracts, if applicable.

|Asset Allocation as of April 30, 2015                                       
|----------------------------------------------------------------------------
|                                                                            
|Stocks                                                                      
|Short-Term Investments and Net Other Assets (Liabilities)                   
|Top Ten Stocks as of April 30, 2015                                         
|                                                                            
|Tsuruha Holdings, Inc. (Japan, Food & Staples Retailing)                    
|EBOS Group Ltd. (New Zealand, Health Care Providers & Services)             
|Vontobel Holdings AG (Switzerland, Capital Markets)                         
|United Drug PLC (United Kingdom) (Ireland, Health Care Providers & Services)
|Close Brothers Group PLC (United Kingdom, Capital Markets)                  
|Frutarom Industries Ltd. (Israel, Chemicals)                                
|Jyske Bank A/S (Reg.) (Denmark, Banks)                                      
|Nitori Holdings Co. Ltd. (Japan, Specialty Retail)                          
|Allied World Assurance Co. (Switzerland, Insurance)                         
|TKC Corp. (Japan, IT Services)                                              
|                                                                            
|Market Sectors as of April 30, 2015                                         
|                                                                            
|Financials                                                                  
|Industrials                                                                 
|Consumer Discretionary                                                      
|Information Technology                                                      
|Health Care                                                                 
|Materials                                                                   
|Consumer Staples                                                            
|Energy                                                                      
|Utilities                                                                   
|Telecommunication Services                                                  

Semiannual Report



---

# Investments April 30, 2015

Showing Percentage of Net Assets

|Common Stocks - 94.3%                                      
|-----------------------------------------------------------
|                                                           
|Australia - 4.0%                                           
|Austal Ltd.                                                
|Bradken Ltd.                                               
|Challenger Ltd.                                            
|Charter Hall Group unit                                    
|GUD Holdings Ltd.                                          
|Imdex Ltd. (a)                                             
|Life Healthcare Group Ltd.                                 
|Nanosonics Ltd. (a)                                        
|RCG Corp. Ltd.                                             
|Slater & Gordon Ltd. (d)                                   
|SomnoMed Ltd. (a)                                          
|TOTAL AUSTRALIA                                            
|Austria - 1.4%                                             
|Andritz AG                                                 
|RHI AG                                                     
|TOTAL AUSTRIA                                              
|Bailiwick of Jersey - 1.3%                                 
|Kennedy Wilson Europe Real Estate PLC                      
|Regus PLC                                                  
|TOTAL BAILIWICK OF JERSEY                                  
|Belgium - 0.8%                                             
|Barco NV (d)                                               
|Econocom Group SA (d)                                      
|TOTAL BELGIUM                                              
|Bermuda - 2.6%                                             
|APT Satellite Holdings Ltd.                                
|BW Offshore Ltd.                                           
|Hiscox Ltd.                                                
|Petra Diamonds Ltd. (a)                                    
|Travelport Worldwide Ltd. (d)                              
|TOTAL BERMUDA                                              
|Brazil - 0.1%                                              
|QGEP Participacoes SA                                      
|British Virgin Islands - 0.2%                              
|Gem Diamonds Ltd.                                          
|Canada - 3.5%                                              
|AutoCanada, Inc. (d)                                       
|Common Stocks - continued                                  
|                                                           
|Canada - continued                                         
|Constellation Software, Inc.                               
|Constellation Software, Inc. rights 9/15/15 (a)            
|Dorel Industries, Inc. Class B (sub. vtg.)                 
|Genesis Land Development Corp.                             
|Jean Coutu Group, Inc. Class A (sub. vtg.)                 
|Lassonde Industries, Inc. Class A (sub. vtg.)              
|McCoy Global, Inc.                                         
|ShawCor Ltd. Class A                                       
|Whitecap Resources, Inc. (d)                               
|Whitecap Resources, Inc. rights (a)                        
|TOTAL CANADA                                               
|Cayman Islands - 3.7%                                      
|AMVIG Holdings Ltd.                                        
|Bonjour Holdings Ltd.                                      
|China High Precision Automation Group Ltd. (a)             
|China Metal Recycling (Holdings) Ltd. (a)                  
|Greatview Aseptic Pack Co. Ltd.                            
|Lifestyle International Holdings Ltd.                      
|Pico Far East Holdings Ltd.                                
|SITC International Holdings Co. Ltd.                       
|TOTAL CAYMAN ISLANDS                                       
|Chile - 0.6%                                               
|Quinenco SA                                                
|Denmark - 1.0%                                             
|Jyske Bank A/S (Reg.) (a)                                  
|Finland - 2.4%                                             
|Amer Group PLC (A Shares)                                  
|Asiakastieto Group Oyj (a)                                 
|Cramo Oyj (B Shares) (d)                                   
|Olvi PLC (A Shares)                                        
|Tikkurila Oyj (d)                                          
|TOTAL FINLAND                                              
|France - 3.6%                                              
|ALTEN                                                      
|Coface SA                                                  
|Faiveley Transport                                         
|Sopra Steria Group                                         
|The Lisi Group                                             
|The Vicat Group                                            
|Common Stocks - continued                                  
|                                                           
|France - continued                                         
|Thermador Groupe SA (d)                                    
|Wendel SA                                                  
|TOTAL FRANCE                                               
|Germany - 3.5%                                             
|AURELIUS AG                                                
|CompuGroup Medical AG                                      
|GEA Group AG                                               
|LEG Immobilien AG                                          
|LEONI AG                                                   
|SHW Group                                                  
|TOTAL GERMANY                                              
|Greece - 0.6%                                              
|Metka SA                                                   
|Motor Oil (HELLAS) Corinth Refineries SA                   
|TOTAL GREECE                                               
|Hong Kong - 2.1%                                           
|Dah Sing Banking Group Ltd.                                
|Far East Horizon Ltd.                                      
|Magnificent Estates Ltd.                                   
|Techtronic Industries Co. Ltd.                             
|TOTAL HONG KONG                                            
|India - 0.6%                                               
|Edelweiss Financial Services Ltd.                          
|McLeod Russel India Ltd.                                   
|TOTAL INDIA                                                
|Indonesia - 0.3%                                           
|PT Media Nusantara Citra Tbk                               
|Ireland - 2.1%                                             
|C&C Group PLC                                              
|Mincon Group PLC                                           
|United Drug PLC (United Kingdom)                           
|TOTAL IRELAND                                              
|Isle of Man - 0.4%                                         
|Optimal Payment PLC (a)(d)                                 
|Optimal Payment PLC rights 5/1/15 (a)                      
|TOTAL ISLE OF MAN                                          
|Common Stocks - continued                                  
|                                                           
|Israel - 1.1%                                              
|Frutarom Industries Ltd.                                   
|Italy - 0.9%                                               
|Banco di Desio e della Brianza SpA                         
|Cerved Information Solutions SpA                           
|Danieli & C. Officine Meccaniche SpA                       
|TOTAL ITALY                                                
|Japan - 19.9%                                              
|A/S One Corp.                                              
|ACOM Co. Ltd. (a)(d)                                       
|Aeon Delight Co. Ltd.                                      
|Ain Pharmaciez, Inc.                                       
|Arc Land Sakamoto Co. Ltd.                                 
|Broadleaf Co. Ltd.                                         
|Daiwa Industries Ltd.                                      
|Fuji Corp.                                                 
|Fukuda Denshi Co. Ltd.                                     
|Funai Soken Holdings, Inc.                                 
|GMO Internet, Inc.                                         
|Iida Group Holdings Co. Ltd.                               
|JSR Corp.                                                  
|KAWAI Musical Instruments Manufacturing Co. Ltd.           
|Kinugawa Rubber Industrial Co. Ltd.                        
|Kotobuki Spirits Co. Ltd.                                  
|Leopalace21 Corp. (a)                                      
|Meitec Corp.                                               
|Message Co. Ltd.                                           
|Miraca Holdings, Inc.                                      
|Mitani Shoji Co. Ltd.                                      
|Monex Group, Inc.                                          
|Nihon House Holdings Co. Ltd. (d)                          
|Nitori Holdings Co. Ltd.                                   
|Paramount Bed Holdings Co. Ltd.                            
|Ricoh Leasing Co. Ltd.                                     
|San-Ai Oil Co. Ltd.                                        
|Ship Healthcare Holdings, Inc.                             
|TKC Corp.                                                  
|Tokyo Ohka Kogyo Co. Ltd.                                  
|Toshiba Plant Systems & Services Corp.                     
|Toyo Suisan Kaisha Ltd.                                    
|Tsuruha Holdings, Inc.                                     
|Common Stocks - continued                                  
|                                                           
|Japan - continued                                          
|Uchiyama Holdings Co. Ltd.                                 
|VT Holdings Co. Ltd.                                       
|Welcia Holdings Co. Ltd.                                   
|Yamada Consulting Group Co. Ltd.                           
|TOTAL JAPAN                                                
|Korea (South) - 2.2%                                       
|BGFretail Co. Ltd                                          
|DGB Financial Group Co. Ltd.                               
|Fila Korea Ltd.                                            
|Hy-Lok Corp.                                               
|Nice Information & Telecom, Inc.                           
|NS Shopping Co. Ltd.                                       
|TK Corp. (a)                                               
|TOTAL KOREA (SOUTH)                                        
|Luxembourg - 0.9%                                          
|Grand City Properties SA (a)                               
|Malaysia - 0.3%                                            
|Kossan Rubber Industries Bhd                               
|Netherlands - 1.5%                                         
|Amsterdam Commodities NV                                   
|BinckBank NV                                               
|IMCD Group BV                                              
|TOTAL NETHERLANDS                                          
|New Zealand - 2.0%                                         
|EBOS Group Ltd.                                            
|Nuplex Industries Ltd.                                     
|TOTAL NEW ZEALAND                                          
|Norway - 2.0%                                              
|ABG Sundal Collier ASA (a)                                 
|Ekornes A/S                                                
|Kongsberg Gruppen ASA                                      
|Spectrum ASA                                               
|TOTAL NORWAY                                               
|Singapore - 2.4%                                           
|Amtek Engineering Ltd.                                     
|Boustead Projects Pte Ltd. (a)                             
|Boustead Singapore Ltd.                                    
|Hour Glass Ltd.                                            
|Common Stocks - continued                                  
|                                                           
|Singapore - continued                                      
|Mapletree Industrial (REIT)                                
|OSIM International Ltd.                                    
|Wing Tai Holdings Ltd.                                     
|TOTAL SINGAPORE                                            
|South Africa - 1.1%                                        
|Capitec Bank Holdings Ltd.                                 
|Clicks Group Ltd. (e)                                      
|TOTAL SOUTH AFRICA                                         
|Spain - 0.5%                                               
|Hispania Activos Inmobiliarios SA (a)                      
|Sweden - 0.7%                                              
|AddTech AB (B Shares)                                      
|Meda AB (A Shares)                                         
|TOTAL SWEDEN                                               
|Switzerland - 4.7%                                         
|Allied World Assurance Co.                                 
|Clariant AG (Reg.)                                         
|Daetwyler Holdings AG                                      
|Pargesa Holding SA                                         
|Vontobel Holdings AG                                       
|VZ Holding AG                                              
|TOTAL SWITZERLAND                                          
|Taiwan - 1.1%                                              
|King's Town Bank                                           
|Richtek Technology Corp.                                   
|Tripod Technology Corp.                                    
|TOTAL TAIWAN                                               
|Thailand - 1.1%                                            
|Delta Electronics PCL (For. Reg.)                          
|TISCO Financial Group PCL                                  
|TOTAL THAILAND                                             
|Turkey - 0.4%                                              
|Aygaz A/S                                                  
|United Kingdom - 15.4%                                     
|Aberdeen Asset Management PLC                              
|Alent PLC                                                  
|Common Stocks - continued                                  
|                                                           
|United Kingdom - continued                                 
|Amec Foster Wheeler PLC                                    
|Ashmore Group PLC (d)                                      
|Balfour Beatty PLC                                         
|BBA Aviation PLC                                           
|Bond International Software PLC                            
|Brammer PLC                                                
|Brewin Dolphin Holding PLC                                 
|Cineworld Group PLC                                        
|Close Brothers Group PLC                                   
|Countrywide PLC                                            
|Diploma PLC                                                
|Exova Group Ltd. PLC                                       
|Informa PLC                                                
|ITE Group PLC                                              
|Luxfer Holdings PLC sponsored ADR                          
|McColl's Retail Group PLC                                  
|Mears Group PLC                                            
|Meggitt PLC                                                
|Micro Focus International PLC                              
|Moneysupermarket.com Group PLC                             
|Provident Financial PLC                                    
|Pureprofile Media PLC (f)                                  
|Silverdell PLC (a)                                         
|Sinclair Pharma PLC (a)                                    
|Spectris PLC                                               
|Ultra Electronics Holdings PLC                             
|TOTAL UNITED KINGDOM                                       
|United States of America - 1.3%                            
|Dillard's, Inc. Class A                                    
|Hornbeck Offshore Services, Inc. (a)(d)                    
|YOU On Demand Holdings, Inc. warrants 8/30/17 (a)(f)       
|TOTAL UNITED STATES OF AMERICA                             
|TOTAL COMMON STOCKS
(Cost $735,420,879)                    
|Nonconvertible Preferred Stocks - 0.3%                     
|                                                           
|Brazil - 0.3%                                              
|Banco ABC Brasil SA
(Cost $2,337,722)                      
|Money Market Funds - 6.8%                                  
|                                                           
|Fidelity Cash Central Fund, 0.15% (b)                      
|Fidelity Securities Lending Cash Central Fund, 0.17% (b)(c)
|TOTAL MONEY MARKET FUNDS
(Cost $57,434,856)                
|TOTAL INVESTMENT PORTFOLIO - 101.4%
(Cost $795,193,457)    
|NET OTHER ASSETS (LIABILITIES) - (1.4)%                    
|NET ASSETS - 100%                                          

|Legend                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|(a)	Non-income producing                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|(b)	Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request.
|(c)	Investment made with cash collateral received from securities on loan.                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|(d)	Security or a portion of the security is on loan at period end.                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
|(e)	A portion of the security sold on a delayed delivery basis.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|(f)	Restricted securities - Investment in securities not registered under the Securities Act of 1933 (excluding 144A issues). At the end of the period, the value of restricted securities (excluding 144A issues) amounted to $892,580 or 0.1% of net assets.                                                                                                                                                                                                                                                                                 
|Additional information on each restricted holding is as follows:                                                                                                                                                                                                                                                                                                                                                                                                                                                                               

|Security                                      | Acquisition Date | Acquisition Cost
|--------------------------------------------- | ---------------- | ----------------
|Pureprofile Media PLC                         | 11/6/14          | $	958,676       
|YOU On Demand Holdings, Inc. warrants 8/30/17 | 9/14/12          | $	0             

|Affiliated Central Funds                                                                                                     
|-----------------------------------------------------------------------------------------------------------------------------
|Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:

|Fund                                          | Income earned
|--------------------------------------------- | -------------
|Fidelity Cash Central Fund                    | $	24,112     
|Fidelity Securities Lending Cash Central Fund | 70,251       
|Total                                         | $	94,363     

|Other Information                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|Categorizations in the Schedule of Investments are based on country or territory of incorporation.                                                                                                                                                                                                                                                                                                                                                                                             
|The following is a summary of the inputs used, as of April 30, 2015, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the tables below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

|Valuation Inputs at Reporting Date:
|-----------------------------------
|Description                        
|Investments in Securities:         
|Equities:                          
|Consumer Discretionary             
|Consumer Staples                   
|Energy                             
|Financials                         
|Health Care                        
|Industrials                        
|Information Technology             
|Materials                          
|Telecommunication Services         
|Utilities                          
|Money Market Funds                 
|Total Investments in Securities:   

|The following is a summary of transfers between Level 1 and Level 2 for the period ended April 30, 2015. Transfers are assumed to have occurred at the beginning of the period, and are primarily attributable to the valuation techniques used for foreign equity securities, as discussed in the accompanying Notes to Financial Statements:
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|Transfers          | Total        
|------------------ | -------------
|Level 1 to Level 2 | $	364,995,764
|Level 2 to Level 1 | $	132,207,907

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

---

# Financial Statements

## Statement of Assets and Liabilities

|                                                                                                                                                      | April 30, 2015
|----------------------------------------------------------------------------------------------------------------------------------------------------- | --------------
|                                                                                                                                                      |               
|Assets                                                                                                                                                |               
|Investment in securities, at value (including securities loaned of $16,131,033) - See accompanying schedule:
Unaffiliated issuers (cost $737,758,601) | $	799,527,213 
|Fidelity Central Funds (cost $57,434,856)                                                                                                             | 57,434,856    
|Total Investments (cost $795,193,457)                                                                                                                 |               
|Cash                                                                                                                                                  |               
|Foreign currency held at value (cost $209,409)                                                                                                        |               
|Receivable for investments sold                                                                                                                       |               
|Regular delivery                                                                                                                                      |               
|Delayed delivery                                                                                                                                      |               
|Receivable for fund shares sold                                                                                                                       |               
|Dividends receivable                                                                                                                                  |               
|Distributions receivable from Fidelity Central Funds                                                                                                  |               
|Prepaid expenses                                                                                                                                      |               
|Other receivables                                                                                                                                     |               
|Total assets                                                                                                                                          |               
|                                                                                                                                                      |               
|Liabilities                                                                                                                                           |               
|Payable for investments purchased                                                                                                                     | $	3,277,824   
|Payable for fund shares redeemed                                                                                                                      | 716,925       
|Accrued management fee                                                                                                                                | 625,388       
|Distribution and service plan fees payable                                                                                                            | 18,523        
|Other affiliated payables                                                                                                                             | 196,703       
|Other payables and accrued expenses                                                                                                                   | 187,342       
|Collateral on securities loaned, at value                                                                                                             | 16,973,028    
|Total liabilities                                                                                                                                     |               
|                                                                                                                                                      |               
|Net Assets                                                                                                                                            |               
|Net Assets consist of:                                                                                                                                |               
|Paid in capital                                                                                                                                       |               
|Undistributed net investment income                                                                                                                   |               
|Accumulated undistributed net realized gain (loss) on investments and foreign currency transactions                                                   |               
|Net unrealized appreciation (depreciation) on investments and assets and liabilities in foreign currencies                                            |               
|Net Assets                                                                                                                                            |               

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Statement of Assets and Liabilities - continued

|                                                                                                                              | April 30, 2015
|----------------------------------------------------------------------------------------------------------------------------- | --------------
|                                                                                                                              |               
|Calculation of Maximum Offering Price
Class A:
Net Asset Valueand redemption price per share ($25,862,836 ÷ 1,088,728 shares) |               
|                                                                                                                              |               
|Maximum offering price per share (100/94.25 of $23.76)                                                                        |               
|Class T:
Net Asset Value and redemption price per share ($11,893,094 ÷ 503,128 shares)                                        |               
|                                                                                                                              |               
|Maximum offering price per share (100/96.50 of $23.64)                                                                        |               
|Class B:
Net Asset Value and offering price per share ($429,593 ÷ 18,397 shares)A                                             |               
|                                                                                                                              |               
|Class C:
Net Asset Value and offering price per share ($10,044,782 ÷ 435,200 shares)A                                         |               
|                                                                                                                              |               
|International Small Cap:
Net Asset Value, offering price and redemption price per share ($787,896,354 ÷ 32,689,167 shares)    |               
|                                                                                                                              |               
|Institutional Class:
Net Asset Value, offering price and redemption price per share ($9,264,292 ÷ 381,484 shares)             |               

ARedemption price per share is equal to net asset value less any applicable contingent deferred sales charge.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

Financial Statements - continued

## Statement of Operations

|                                                                                                                                      | Six months ended April 30, 2015
|------------------------------------------------------------------------------------------------------------------------------------- | -------------------------------
|                                                                                                                                      |                                
|Investment Income                                                                                                                     |                                
|Dividends                                                                                                                             |                                
|Income from Fidelity Central Funds                                                                                                    |                                
|Income before foreign taxes withheld                                                                                                  |                                
|Less foreign taxes withheld                                                                                                           |                                
|Total income                                                                                                                          |                                
|                                                                                                                                      |                                
|Expenses                                                                                                                              |                                
|Management fee
Basic fee                                                                                                              | $	3,430,863                    
|Performance adjustment                                                                                                                | 243,998                        
|Transfer agent fees                                                                                                                   | 1,010,727                      
|Distribution and service plan fees                                                                                                    | 113,958                        
|Accounting and security lending fees                                                                                                  | 195,142                        
|Custodian fees and expenses                                                                                                           | 57,214                         
|Independent trustees' compensation                                                                                                    | 1,642                          
|Registration fees                                                                                                                     | 47,346                         
|Audit                                                                                                                                 | 81,974                         
|Legal                                                                                                                                 | 1,749                          
|Miscellaneous                                                                                                                         | 5,809                          
|Total expenses before reductions                                                                                                      | 5,190,422                      
|Expense reductions                                                                                                                    | (1,846)                        
|Net investment income (loss)                                                                                                          |                                
|Realized and Unrealized Gain (Loss)
Net realized gain (loss) on:                                                                      |                                
|Investment securities:                                                                                                                |                                
|Unaffiliated issuers (net of foreign taxes of $109,783)                                                                               | 8,825,411                      
|Foreign currency transactions                                                                                                         | (130,169)                      
|Total net realized gain (loss)                                                                                                        |                                
|Change in net unrealized appreciation (depreciation) on:
Investment securities (net of decrease in deferred foreign taxes of $51,983) | 69,433,131                     
|Assets and liabilities in foreign currencies                                                                                          | 33,718                         
|Total change in net unrealized appreciation (depreciation)                                                                            |                                
|Net gain (loss)                                                                                                                       |                                
|Netincrease (decrease) in net assets resulting from operations                                                                        |                                

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Statement of Changes in Net Assets

|                                                                                                                                                | Six months ended
April 30,
2015 | Year ended
October 31,
2014
|----------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------- | ---------------------------
|Increase (Decrease) in Net Assets                                                                                                               |                                 |                            
|Operations                                                                                                                                      |                                 |                            
|Net investment income (loss)                                                                                                                    | $	5,542,078                     | $	10,368,645               
|Net realized gain (loss)                                                                                                                        | 8,695,242                       | 226,736,010                
|Change in net unrealized appreciation (depreciation)                                                                                            | 69,466,849                      | (253,669,311)              
|Netincrease (decrease) in net assets resulting
from operations                                                                                  | 83,704,169                      | (16,564,656)               
|Distributions to shareholders from net investment income                                                                                        | (7,662,528)                     | (4,012,676)                
|Distributions to shareholders from net realized gain                                                                                            | (116,906,834)                   | (26,257,450)               
|Total distributions                                                                                                                             | (124,569,362)                   | (30,270,126)               
|Share transactions - net increase (decrease)                                                                                                    | (13,859,721)                    | (201,807,331)              
|Redemption fees                                                                                                                                 | 42,072                          | 276,780                    
|Total increase (decrease) in net assets                                                                                                         | (54,682,842)                    | (248,365,333)              
|                                                                                                                                                |                                 |                            
|Net Assets                                                                                                                                      |                                 |                            
|Beginning of period                                                                                                                             | 900,073,793                     | 1,148,439,126              
|End of period (including undistributed net investment income of $5,030,279 and undistributed net investment income of $7,150,729, respectively) | $	845,390,951                   | $	900,073,793              

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - Class A

|                                          | Six months ended
April 30, | Years ended October 31,
|----------------------------------------- | -------------------------- | -----------------------
|                                          | 2015                       | 2014                   
|Selected Per-Share Data                   |                            |                        
|Net asset value, beginning of period      | $	24.98                    | $	26.34                
|Income from Investment Operations         |                            |                        
|Net investment income (loss)E             | .13                        | .17                    
|Net realized and unrealized gain (loss)   | 2.26                       | (.89)                  
|Total from investment operations          | 2.39                       | (.72)                  
|Distributions from net investment income  | (.16)                      | (.05)                  
|Distributions from net realized gain      | (3.45)                     | (.60)                  
|Total distributions                       | (3.61)                     | (.65)                  
|Redemption fees added to paid in capitalE | -I                         | .01                    
|Net asset value, end of period            | $	23.76                    | $	24.98                
|Total ReturnB, C, D                       | 11.22%                     | (2.79)%                
|Ratios to Average Net AssetsF, H          |                            |                        
|Expenses before reductions                | 1.53%A                     | 1.50%                  
|Expenses net of fee waivers, if any       | 1.53%A                     | 1.50%                  
|Expenses net of all reductions            | 1.53%A                     | 1.50%                  
|Net investment income (loss)              | 1.12%A                     | .65%                   
|Supplemental Data                         |                            |                        
|Net assets, end of period (000 omitted)   | $	25,863                   | $	24,572               
|Portfolio turnover rate G                 | 27%A                       | 102%                   

AAnnualized

BTotal returns for periods of less than one year are not annualized.

CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

DTotal returns do not include the effect of the sales charges.

ECalculated based on average shares outstanding during the period.

FFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.

GAmount does not include the portfolio activity of any underlying Fidelity Central Funds.

HExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.

IAmount represents less than $.01 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - Class T

|                                          | Six months ended
April 30, | Years ended October 31,
|----------------------------------------- | -------------------------- | -----------------------
|                                          | 2015                       | 2014                   
|Selected Per-Share Data                   |                            |                        
|Net asset value, beginning of period      | $	24.81                    | $	26.17                
|Income from Investment Operations         |                            |                        
|Net investment income (loss)E             | .09                        | .10                    
|Net realized and unrealized gain (loss)   | 2.25                       | (.87)                  
|Total from investment operations          | 2.34                       | (.77)                  
|Distributions from net investment income  | (.06)                      | -                      
|Distributions from net realized gain      | (3.45)                     | (.60)                  
|Total distributions                       | (3.51)                     | (.60)                  
|Redemption fees added to paid in capitalE | -I                         | .01                    
|Net asset value, end of period            | $	23.64                    | $	24.81                
|Total ReturnB, C, D                       | 11.01%                     | (3.00)%                
|Ratios to Average Net AssetsF, H          |                            |                        
|Expenses before reductions                | 1.81%A                     | 1.77%                  
|Expenses net of fee waivers, if any       | 1.81%A                     | 1.77%                  
|Expenses net of all reductions            | 1.81%A                     | 1.76%                  
|Net investment income (loss)              | .85%A                      | .38%                   
|Supplemental Data                         |                            |                        
|Net assets, end of period (000 omitted)   | $	11,893                   | $	12,296               
|Portfolio turnover rate G                 | 27%A                       | 102%                   

AAnnualized

BTotal returns for periods of less than one year are not annualized.

CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

DTotal returns do not include the effect of the sales charges.

ECalculated based on average shares outstanding during the period.

FFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.

GAmount does not include the portfolio activity of any underlying Fidelity Central Funds.

HExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.

IAmount represents less than $.01 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - Class B

|                                          | Six months ended
April 30, | Years ended October 31,
|----------------------------------------- | -------------------------- | -----------------------
|                                          | 2015                       | 2014                   
|Selected Per-Share Data                   |                            |                        
|Net asset value, beginning of period      | $	24.51                    | $	25.87                
|Income from Investment Operations         |                            |                        
|Net investment income (loss)E             | .04                        | (.03)                  
|Net realized and unrealized gain (loss)   | 2.22                       | (.87)                  
|Total from investment operations          | 2.26                       | (.90)                  
|Distributions from net realized gain      | (3.42)                     | (.47)                  
|Redemption fees added to paid in capitalE | -I                         | .01                    
|Net asset value, end of period            | $	23.35                    | $	24.51                
|Total ReturnB, C, D                       | 10.76%                     | (3.52)%                
|Ratios to Average Net AssetsF, H          |                            |                        
|Expenses before reductions                | 2.31%A                     | 2.28%                  
|Expenses net of fee waivers, if any       | 2.31%A                     | 2.28%                  
|Expenses net of all reductions            | 2.31%A                     | 2.27%                  
|Net investment income (loss)              | .35%A                      | (.13)%                 
|Supplemental Data                         |                            |                        
|Net assets, end of period (000 omitted)   | $	430                      | $	507                  
|Portfolio turnover rate G                 | 27%A                       | 102%                   

AAnnualized

BTotal returns for periods of less than one year are not annualized.

CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

DTotal returns do not include the effect of the contingent deferred sales charge.

ECalculated based on average shares outstanding during the period.

FFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.

GAmount does not include the portfolio activity of any underlying Fidelity Central Funds.

HExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.

IAmount represents less than $.01 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - Class C

|                                          | Six months ended
April 30, | Years ended October 31,
|----------------------------------------- | -------------------------- | -----------------------
|                                          | 2015                       | 2014                   
|Selected Per-Share Data                   |                            |                        
|Net asset value, beginning of period      | $	24.27                    | $	25.68                
|Income from Investment Operations         |                            |                        
|Net investment income (loss)E             | .04                        | (.02)                  
|Net realized and unrealized gain (loss)   | 2.19                       | (.85)                  
|Total from investment operations          | 2.23                       | (.87)                  
|Distributions from net realized gain      | (3.42)                     | (.55)                  
|Redemption fees added to paid in capitalE | -I                         | .01                    
|Net asset value, end of period            | $	23.08                    | $	24.27                
|Total ReturnB, C, D                       | 10.74%                     | (3.43)%                
|Ratios to Average Net AssetsF, H          |                            |                        
|Expenses before reductions                | 2.30%A                     | 2.23%                  
|Expenses net of fee waivers, if any       | 2.30%A                     | 2.22%                  
|Expenses net of all reductions            | 2.30%A                     | 2.22%                  
|Net investment income (loss)              | .36%A                      | (.07)%                 
|Supplemental Data                         |                            |                        
|Net assets, end of period (000 omitted)   | $	10,045                   | $	12,576               
|Portfolio turnover rate G                 | 27%A                       | 102%                   

AAnnualized

BTotal returns for periods of less than one year are not annualized.

CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

DTotal returns do not include the effect of the contingent deferred sales charge.

ECalculated based on average shares outstanding during the period.

FFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.

GAmount does not include the portfolio activity of any underlying Fidelity Central Funds.

HExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.

IAmount represents less than $.01 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - International Small Cap

|                                          | Six months ended
April 30, | Years ended October 31,
|----------------------------------------- | -------------------------- | -----------------------
|                                          | 2015                       | 2014                   
|Selected Per-Share Data                   |                            |                        
|Net asset value, beginning of period      | $	25.34                    | $	26.67                
|Income from Investment Operations         |                            |                        
|Net investment income (loss)D             | .16                        | .25                    
|Net realized and unrealized gain (loss)   | 2.29                       | (.90)                  
|Total from investment operations          | 2.45                       | (.65)                  
|Distributions from net investment income  | (.24)                      | (.09)                  
|Distributions from net realized gain      | (3.45)                     | (.60)                  
|Total distributions                       | (3.69)                     | (.69)                  
|Redemption fees added to paid in capitalD | -H                         | .01                    
|Net asset value, end of period            | $	24.10                    | $	25.34                
|Total ReturnB, C                          | 11.33%                     | (2.48)%                
|Ratios to Average Net AssetsE, G          |                            |                        
|Expenses before reductions                | 1.26%A                     | 1.21%                  
|Expenses net of fee waivers, if any       | 1.25%A                     | 1.20%                  
|Expenses net of all reductions            | 1.25%A                     | 1.20%                  
|Net investment income (loss)              | 1.40%A                     | .95%                   
|Supplemental Data                         |                            |                        
|Net assets, end of period (000 omitted)   | $	787,896                  | $	842,031              
|Portfolio turnover rate F                 | 27%A                       | 102%                   

AAnnualized

BTotal returns for periods of less than one year are not annualized.

CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

DCalculated based on average shares outstanding during the period.

EFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.

FAmount does not include the portfolio activity of any underlying Fidelity Central Funds.

GExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.

HAmount represents less than $.01 per share.

ITotal distributions of $.46 per share is comprised of distributions from net investment income of $.136 and distributions from net realized gain of $.327 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - Institutional Class

|                                          | Six months ended
April 30, | Years ended October 31,
|----------------------------------------- | -------------------------- | -----------------------
|                                          | 2015                       | 2014                   
|Selected Per-Share Data                   |                            |                        
|Net asset value, beginning of period      | $	25.34                    | $	26.67                
|Income from Investment Operations         |                            |                        
|Net investment income (loss)D             | .17                        | .29                    
|Net realized and unrealized gain (loss)   | 2.30                       | (.90)                  
|Total from investment operations          | 2.47                       | (.61)                  
|Distributions from net investment income  | (.08)                      | (.13)                  
|Distributions from net realized gain      | (3.45)                     | (.60)                  
|Total distributions                       | (3.53)                     | (.73)                  
|Redemption fees added to paid in capitalD | -H                         | .01                    
|Net asset value, end of period            | $	24.28                    | $	25.34                
|Total ReturnB, C                          | 11.37%                     | (2.35)%                
|Ratios to Average Net AssetsE, G          |                            |                        
|Expenses before reductions                | 1.19%A                     | 1.08%                  
|Expenses net of fee waivers, if any       | 1.19%A                     | 1.08%                  
|Expenses net of all reductions            | 1.19%A                     | 1.08%                  
|Net investment income (loss)              | 1.47%A                     | 1.07%                  
|Supplemental Data                         |                            |                        
|Net assets, end of period (000 omitted)   | $	9,264                    | $	8,092                
|Portfolio turnover rateF                  | 27%A                       | 102%                   

AAnnualized

BTotal returns for periods of less than one year are not annualized.

CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

DCalculated based on average shares outstanding during the period.

EFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.

FAmount does not include the portfolio activity of any underlying Fidelity Central Funds.

GExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.

HAmount represents less than $.01 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

---

# Notes to Financial Statements

For the period ended April 30, 2015

1. Organization.

Fidelity® International Small Cap Fund (the Fund) is a fund of Fidelity Investment Trust (the Trust) and is authorized to issue an unlimited number of shares. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Massachusetts business trust. The Fund offers Class A, Class T, Class C, International Small Cap and Institutional Class shares, each of which, along with Class B shares, has equal rights as to assets and voting privileges. Class B shares are closed to new accounts and additional purchases, except for exchanges and reinvestments. Each class has exclusive voting rights with respect to matters that affect that class. Class B shares will automatically convert to Class A shares after a holding period of seven years from the initial date of purchase.

2. Investments in Fidelity Central Funds.

The Fund invests in Fidelity Central Funds, which are open-end investment companies generally available only to other investment companies and accounts managed by the investment adviser and its affiliates. The Fund's Schedule of Investments lists each of the Fidelity Central Funds held as of period end, if any, as an investment of the Fund, but does not include the underlying holdings of each Fidelity Central Fund. As an Investing Fund, the Fund indirectly bears its proportionate share of the expenses of the underlying Fidelity Central Funds.

The Money Market Central Funds seek preservation of capital and current income and are managed by Fidelity Investments Money Management, Inc. (FIMM), an affiliate of the investment adviser. Annualized expenses of the Money Market Central Funds as of their most recent shareholder report date are less than .01%.

A complete unaudited list of holdings for each Fidelity Central Fund is available upon request or at the Securities and Exchange Commission (the SEC) website at www.sec.gov. In addition, the financial statements of the Fidelity Central Funds, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC website or upon request.

3. Significant Accounting Policies.

The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP), which require management to make certain estimates and assumptions at the date of the financial statements. Actual results could differ from those estimates. Subsequent events, if any, through the date that the financial statements were issued have been evaluated in the preparation of

Semiannual Report

Notes to Financial Statements - continued

3. Significant Accounting Policies - continued

the financial statements. The following summarizes the significant accounting policies of the Fund:

Investment Valuation.Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. The Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fidelity Management & Research Company (FMR) Fair Value Committee (the Committee). In accordance with valuation policies and procedures approved by the Board, the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund's valuation policies and procedures and reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee.

The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels as shown below:

Level 1 - quoted prices in active markets for identical investments

Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, etc.)

Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available)

Valuation techniques used to value the Fund's investments by major category are as follows:

Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing vendor on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs),

Semiannual Report

3. Significant Accounting Policies - continued

Investment Valuation - continued

futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. Utilizing these techniques may result in transfers between Level 1 and Level 2. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy.

Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy.

Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. The aggregate value of investments by input level, as of April 30, 2015, including information on transfers between Levels 1 and 2, is included at the end of the Fund's Schedule of Investments.

Foreign Currency.The Fund may use foreign currency contracts to facilitate transactions in foreign-denominated securities. Gains and losses from these transactions may arise from changes in the value of the foreign currency or if the counterparties do not perform under the contracts' terms.

Foreign-denominated assets, including investment securities, and liabilities are translated into U.S. dollars at the exchange rates at period end. Purchases and sales of investment securities, income and dividends received and expenses denominated in foreign currencies are translated into U.S. dollars at the exchange rate in effect on the transaction date.

The effects of exchange rate fluctuations on investments are included with the net realized and unrealized gain (loss) on investment securities. Other foreign currency transactions resulting in realized and unrealized gain (loss) are disclosed separately.

Investment Transactions and Income.For financial reporting purposes, the Fund's investment holdings and NAV include trades executed through the end of the last business day of the period. The NAV per share for processing shareholder transactions is calculated as of the close of business of the New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time and includes trades executed through the end of the prior business day. Gains and losses on securities sold are determined on the basis of identified cost and may include proceeds received from litigation. Dividend income is recorded on the ex-dividend date, except for certain dividends from foreign securities where the ex-dividend date may have passed, which are recorded as soon as the Fund is informed of the ex-dividend date. Non-cash dividends included in dividend income, if any, are

Semiannual Report

Notes to Financial Statements - continued

3. Significant Accounting Policies - continued

Investment Transactions and Income - continued

recorded at the fair market value of the securities received. Income and capital gain distributions from Fidelity Central Funds, if any, are recorded on the ex-dividend date. Distributions received on securities that represent a return of capital or capital gain are recorded as a reduction of cost of investments and/or as a realized gain. Subsequent to ex-dividend date the Fund determines the components of these distributions, based upon receipt of tax filings or other correspondence relating to the underlying investment. Investment income is recorded net of foreign taxes withheld where recovery of such taxes is uncertain.

Class Allocations andExpenses. Investment income, realized and unrealized capital gains and losses, common expenses of the Fund, and certain fund-level expense reductions, if any, are allocated daily on a pro-rata basis to each class based on the relative net assets of each class to the total net assets of the Fund. Each class differs with respect to transfer agent and distribution and service plan fees incurred. Certain expense reductions may also differ by class. For the reporting period, the allocated portion of income and expenses to each class as a percent of its average net assets may vary due to the timing of recording these transactions in relation to fluctuating net assets of the classes. Expenses directly attributable to a fund are charged to that fund. Expenses attributable to more than one fund are allocated among the respective funds on the basis of relative net assets or other appropriate methods. Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.

Income Tax Information and Distributions to Shareholders. Each year, the Fund intends to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code, including distributing substantially all of its taxable income and realized gains. As a result, no provision for U.S. Federal income taxes is required. The Fund files a U.S. federal tax return, in addition to state and local tax returns as required. The Fund's federal income tax returns are subject to examination by the Internal Revenue Service (IRS) for a period of three fiscal years after they are filed. State and local tax returns may be subject to examination for an additional fiscal year depending on the jurisdiction. Foreign taxes are provided for based on the Fund's understanding of the tax rules and rates that exist in the foreign markets in which it invests. The Fund is subject to a tax imposed on capital gains by certain countries in which it invests. An estimated deferred tax liability for net unrealized appreciation on the applicable securities is included in Other payables and accrued expenses on the Statement of Assets & Liabilities.

Distributions are declared and recorded on the ex-dividend date. Income dividends and capital gain distributions are declared separately for each class. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP.

Semiannual Report

3. Significant Accounting Policies - continued

Income Tax Information and Distributions to Shareholders - continued

Capital accounts within the financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations. Capital accounts are not adjusted for temporary book-tax differences which will reverse in a subsequent period.

Book-tax differences are primarily due to futures contracts, foreign currency transactions, passive foreign investment companies (PFIC), capital loss carryforwards and losses deferred due to wash sales.

The federal tax cost of investment securities and unrealized appreciation (depreciation) as of period end were as follows:

|Gross unrealized appreciation                            | $	115,135,403
|-------------------------------------------------------- | -------------
|Gross unrealized depreciation                            | (61,115,594) 
|Net unrealized appreciation (depreciation) on securities | $	54,019,809 
|                                                         |              
|Tax cost                                                 | $	802,942,260

Short-Term Trading (Redemption) Fees. Shares held by investors in the Fund less than 90 days may have been subject to a redemption fee equal to 2.00% of the NAV of shares redeemed. All redemption fees, which reduce the proceeds of the shareholder redemption, are retained by the Fund and accounted for as an addition to paid in capital.

Delayed Delivery Transactions and When-Issued Securities. During the period, the Fund transacted in securities on a delayed delivery or when-issued basis. Payment and delivery may take place after the customary settlement period for that security. The price of the underlying securities and the date when the securities will be delivered and paid for are fixed at the time the transaction is negotiated. With respect to purchase commitments, the Fund identifies securities as segregated in its records with a value at least equal to the amount of the commitment. Losses may arise due to changes in the value of the underlying securities or if the counterparty does not perform under the contract's terms, or if the issuer does not issue the securities due to political, economic, or other factors.

Restricted Securities. The Fund may invest in securities that are subject to legal or contractual restrictions on resale. These securities generally may be resold in transactions exempt from registration or to the public if the securities are registered. Disposal of these securities may involve time-consuming negotiations and expense, and prompt sale at an acceptable price may be difficult. Information regarding restricted securities is included at the end of the Fund's Schedule of Investments.

Semiannual Report

Notes to Financial Statements - continued

3. Significant Accounting Policies - continued

New Accounting Pronouncement.In June 2014, the Financial Accounting Standards Board issued Accounting Standard Update No. 2014-11, Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures (the Update). The Update amends the accounting for certain repurchase agreements and expands disclosure requirements for reverse repurchase agreements, securities lending and other similar transactions. The disclosure requirements are effective for annual and interim reporting periods beginning after December 15, 2014. Management is currently evaluating the impact of the Update on the Fund's financial statements and related disclosures.

4. Purchases and Sales of Investments.

Purchases and sales of securities, other than short-term securities, aggregated $105,012,023 and $243,700,527, respectively.

5. Fees and Other Transactions with Affiliates.

Management Fee. Fidelity Management & Research Company (the investment adviser) and its affiliates provide the Fund with investment management related services for which the Fund pays a monthly management fee. The management fee is the sum of an individual fund fee rate that is based on an annual rate of .60% of the Fund's average net assets and an annualized group fee rate that averaged .25% during the period. The group fee rate is based upon the average net assets of all the mutual funds advised by the investment adviser, including any mutual funds previously advised by the investment adviser that are currently advised by Fidelity SelectCo, LLC, an affiliate of the investment adviser. The group fee rate decreases as assets under management increase and increases as assets under management decrease. In addition, the management fee is subject to a performance adjustment (up to a maximum of ± .20% of the Fund's average net assets over a 36 month performance period). The upward or downward adjustment to the management fee is based on the relative investment performance of International Small Cap as compared to its benchmark index, the MSCI All Country World ex USA Small Cap Index effective April 1, 2014 (the MSCI EAFE Small Cap Index prior to April 1, 2014), over the same 36 month performance period. For the reporting period, the total annualized management fee rate, including the performance adjustment, was .91% of the Fund's average net assets. The performance adjustment included in the management fee rate may be higher or lower than the maximum performance adjustment rate due to the difference between the average net assets for the reporting and performance periods.

Semiannual Report

5. Fees and Other Transactions with Affiliates - continued

Distribution and Service Plan Fees. In accordance with Rule 12b-1 of the 1940 Act, the Fund has adopted separate Distribution and Service Plans for each class of shares. Certain classes pay Fidelity Distributors Corporation (FDC), an affiliate of the investment adviser, separate Distribution and Service Fees, each of which is based on an annual percentage of each class' average net assets. In addition, FDC may pay financial intermediaries for selling shares of the Fund and providing shareholder support services. For the period, the Distribution and Service Fee rates, total fees and amounts retained by FDC were as follows:

|        | Distribution
Fee | Service
Fee | Total Fees | Retained
by FDC
|------- | ---------------- | ----------- | ---------- | ---------------
|Class A | -%               | .25%        | $	29,572   | $	757          
|Class T | .25%             | .25%        | 28,884     | 336            
|Class B | .75%             | .25%        | 2,235      | 1,689          
|Class C | .75%             | .25%        | 53,267     | 6,474          
|        |                  |             | $	113,958  | $	9,256        

Sales Load. FDC may receive a front-end sales charge of up to 5.75% for selling Class A shares and 3.50% for selling Class T shares, some of which is paid to financial intermediaries for selling shares of the Fund. Depending on the holding period, FDC may receive contingent deferred sales charges levied on Class A, Class T, Class B, and Class C redemptions. The deferred sales charges range from 5.00% to 1.00% for Class B shares, 1.00% for Class C shares, 1.00% for certain purchases of Class A shares and .25% for certain purchases of Class T shares.

For the period, sales charge amounts retained by FDC were as follows:

|         | Retained
by FDC
|-------- | ---------------
|Class A  | $	7,739        
|Class T  | 1,570          
|Class B* | 32             
|Class C* | 2,195          
|         | $	11,536       

*When Class B and Class C shares are initially sold, FDC pays commissions from its own resources to financial intermediaries through which the sales are made.

Transfer Agent Fees.Fidelity Investments Institutional Operations Company, Inc., (FIIOC), an affiliate of the investment adviser, is the transfer, dividend disbursing and shareholder servicing agent for each class of the Fund. FIIOC receives account fees and asset-based fees that vary according to the account size and type of account of the shareholders of the respective classes of the Fund FIIOC pays for typesetting, printing and mailing of shareholder reports, except proxy statements.

Semiannual Report

Notes to Financial Statements - continued

5. Fees and Other Transactions with Affiliates - continued

Transfer Agent Fees - continued

For the period, transfer agent fees for each class were as follows:

|                        | Amount      | % of
Class-Level Average
Net Assets*
|----------------------- | ----------- | ------------------------------------
|Class A                 | $	32,791    | .28                                 
|Class T                 | 17,512      | .30                                 
|Class B                 | 664         | .30                                 
|Class C                 | 15,566      | .29                                 
|International Small Cap | 936,865     | .25                                 
|Institutional Class     | 7,329       | .18                                 
|                        | $	1,010,727 |                                     

*	Annualized

Accounting and Security Lending Fees.Fidelity Service Company, Inc. (FSC), an affiliate of the investment adviser, maintains the Fund's accounting records. The accounting fee is based on the level of average net assets for each month. Under a separate contract, FSC administers the security lending program. The security lending fee is based on the number and duration of lending transactions.

Brokerage Commissions.The Fund placed a portion of its portfolio transactions with brokerage firms which are affiliates of the investment adviser. Brokerage commissions are included in net realized gain (loss) and change in net unrealized appreciation (depreciation) in the Statement of Operations. The commissions paid to these affiliated firms were $262 for the period.

Other.During the period, the investment adviser reimbursed the Fund for certain losses in the amount of $1,975.

6. Committed Line of Credit.

The Fund participates with other funds managed by the investment adviser or an affiliate in a $4.25 billion credit facility (the "line of credit") to be utilized for temporary or emergency purposes to fund shareholder redemptions or for other short-term liquidity purposes. The Fund has agreed to pay commitment fees on its pro-rata portion of the line of credit, which amounted to $650 and is reflected in Miscellaneous expenses on the Statement of Operations. During the period, the Fund did not borrow on this line of credit.

Semiannual Report

7. Security Lending.

The Fund lends portfolio securities through a lending agent from time to time in order to earn additional income. For equity securities, a lending agent is used and may loan securities to certain qualified borrowers, including Fidelity Capital Markets (FCM), a broker-dealer affiliated with the Fund. On the settlement date of the loan, the Fund receives collateral (in the form of U.S. Treasury obligations, letters of credit and/or cash) against the loaned securities and maintains collateral in an amount not less than 100% of the market value of the loaned securities during the period of the loan. The market value of the loaned securities is determined at the close of business of the Fund and any additional required collateral is delivered to the Fund on the next business day. If the borrower defaults on its obligation to return the securities loaned because of insolvency or other reasons, the Fund may apply collateral received from the borrower against the obligation. The Fund may experience delays and costs in recovering the securities loaned. Any cash collateral received is invested in the Fidelity Securities Lending Cash Central Fund. The value of loaned securities and cash collateral at period end are disclosed on the Fund's Statement of Assets and Liabilities. The value of securities loaned to FCM at period end was $494,737. Security lending income represents the income earned on investing cash collateral, less rebates paid to borrowers and any lending agent fees associated with the loan, plus any premium payments received for lending certain types of securities. Security lending income is presented in the Statement of Operations as a component of income from Fidelity Central Funds. Total security lending income during the period amounted to $70,251, including $125 from securities loaned to FCM.

8. Expense Reductions.

Through arrangements with the Fund's custodian, credits realized as a result of uninvested cash balances were used to reduce the Fund's expenses. During the period, these credits reduced the Fund's custody expenses by $11.

In addition, the investment adviser reimbursed a portion of the Fund's operating expenses, including certain International Small Cap expenses during the period in the amount of $1,835.

Semiannual Report

Notes to Financial Statements - continued

9. Distributions to Shareholders.

Distributions to shareholders of each class were as follows:

|                           | Six months ended
April 30,
2015 | Year ended
October 31,
2014
|-------------------------- | ------------------------------- | ---------------------------
|From net investment income |                                 |                            
|Class A                    | $	155,785                       | $	48,210                   
|Class T                    | 27,108                          | -                          
|International Small Cap    | 7,454,709                       | 3,601,146                  
|Institutional Class        | 24,926                          | 363,320                    
|Total                      | $	7,662,528                     | $	4,012,676                
|From net realized gain     |                                 |                            
|Class A                    | $	3,382,206                     | $	564,345                  
|Class T                    | 1,671,017                       | 310,220                    
|Class B                    | 66,002                          | 14,343                     
|Class C                    | 1,697,539                       | 305,689                    
|International Small Cap    | 109,040,767                     | 23,368,303                 
|Institutional Class        | 1,049,303                       | 1,694,550                  
|Total                      | $	116,906,834                   | $	26,257,450               

10. Share Transactions.

Share transactions for each class were as follows and may contain automatic conversions between classes or exchanges between funds:

|                              | Shares                          | Dollars                    
|----------------------------- | ------------------------------- | ---------------------------
|                              | Six months ended
April 30,
2015 | Year ended
October 31,
2014
|Class A                       |                                 |                            
|Shares sold                   | 144,281                         | 355,842                    
|Reinvestment of distributions | 159,613                         | 22,103                     
|Shares redeemed               | (198,700)                       | (306,489)                  
|Net increase (decrease)       | 105,194                         | 71,456                     
|Class T                       |                                 |                            
|Shares sold                   | 36,510                          | 115,645                    
|Reinvestment of distributions | 77,005                          | 11,686                     
|Shares redeemed               | (106,019)                       | (148,659)                  
|Net increase (decrease)       | 7,496                           | (21,328)                   
|Class B                       |                                 |                            
|Shares sold                   | 407                             | 3,137                      
|Reinvestment of distributions | 2,954                           | 538                        
|Shares redeemed               | (5,642)                         | (13,726)                   
|Net increase (decrease)       | (2,281)                         | (10,051)                   

Semiannual Report

10. Share Transactions - continued

|                              | Shares                          | Dollars                    
|----------------------------- | ------------------------------- | ---------------------------
|                              | Six months ended
April 30,
2015 | Year ended
October 31,
2014
|Class C                       |                                 |                            
|Shares sold                   | 52,097                          | 207,733                    
|Reinvestment of distributions | 71,584                          | 10,499                     
|Shares redeemed               | (206,727)                       | (222,725)                  
|Net increase (decrease)       | (83,046)                        | (4,493)                    
|International Small Cap       |                                 |                            
|Shares sold                   | 2,614,655                       | 7,158,603                  
|Reinvestment of distributions | 5,231,399                       | 988,313                    
|Shares redeemed               | (8,385,024)                     | (13,529,838)               
|Net increase (decrease)       | (538,970)                       | (5,382,922)                
|Institutional Class           |                                 |                            
|Shares sold                   | 106,777                         | 1,844,038                  
|Reinvestment of distributions | 46,102                          | 61,170                     
|Shares redeemed               | (90,716)                        | (4,099,284)                
|Net increase (decrease)       | 62,163                          | (2,194,076)                

11. Other.

The Fund's organizational documents provide former and current trustees and officers with a limited indemnification against liabilities arising in connection with the performance of their duties to the Fund. In the normal course of business, the Fund may also enter into contracts that provide general indemnifications. The Fund's maximum exposure under these arrangements is unknown as this would be dependent on future claims that may be made against the Fund. The risk of material loss from such claims is considered remote.

At the end of the period, the investment adviser or its affiliates were the owners of record of 16% of the total outstanding shares of the Fund.

Semiannual Report

---

# Report of Independent Registered Public Accounting Firm

To the Trustees of Fidelity Investment Trust and Shareholders of Fidelity International Small Cap Fund:

We have audited the accompanying statement of assets and liabilities of Fidelity International Small Cap Fund (the Fund), a fund of Fidelity Investment Trust, including the schedule of investments, as of April 30, 2015, and the related statement of operations for the six months then ended, the statements of changes in net assets for the six months ended April 30, 2015 and for the year ended October 31, 2014, and the financial highlights for the six months ended April 30, 2015 and for each of the five years in the period ended October 31, 2014. These financial statements and financial highlights are the responsibility of the Fund's management. Our responsibility is to express an opinion on these financial statements and financial highlights based on our audits.

We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements and financial highlights are free of material misstatement. The Fund is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. Our audits included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Fund's internal control over financial reporting. Accordingly, we express no such opinion. An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. Our procedures included confirmation of securities owned as of April 30, 2015, by correspondence with the custodians and brokers; where replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the financial statements and financial highlights referred to above present fairly, in all material respects, the financial position of Fidelity International Small Cap Fund as of April 30, 2015, the results of its operations for the six months then ended, the changes in its net assets for the six months ended April 30, 2015 and for the year ended October 31, 2014, and the financial highlights for the six months ended April 30, 2015 and for each of the five years in the period ended October 31, 2014, in conformity with accounting principles generally accepted in the United States of America.

DELOITTE & TOUCHE LLP

Boston, Massachusetts

June 18, 2015

Semiannual Report

Investment Adviser

Fidelity Management & Research Company

Boston, MA

Investment Sub-Advisers

FMR Co., Inc.

FMR Investment Management
(U.K.) Limited

Fidelity Management & Research
(Hong Kong) Limited

Fidelity Management & Research
(Japan) Limited

FIL Investment Advisors

FIL Investments (Japan) Limited

FIL Investment Advisors (UK) Limited

General Distributor

Fidelity Distributors Corporation

Smithfield, RI

Transfer and Service Agents

Fidelity Investments Institutional Operations Company, Inc.

Boston, MA

Fidelity Service Company, Inc.

Boston, MA

Custodian

The Bank of New York Mellon

New York, NY



(Fidelity Investment logo)(registered trademark)

`AISCI-USAN-0615
1.800646.111`

Fidelity®

International Small Cap

Fund

Semiannual Report

April 30, 2015(Fidelity Cover Art)

---

# Contents

|Shareholder Expense Example                             | (Click Here) | An example of shareholder expenses.                                                                          
|------------------------------------------------------- | ------------ | -------------------------------------------------------------------------------------------------------------
|Investment Changes                                      | (Click Here) | A summary of major shifts in the fund's investments over the past six months.                                
|Investments                                             | (Click Here) | A complete list of the fund's investments with their market values.                                          
|Financial Statements                                    | (Click Here) | Statements of assets and liabilities, operations, and changes in net assets, as well as financial highlights.
|Notes                                                   | (Click Here) | Notes to financial statements.                                                                               
|Report of Independent Registered Public Accounting Firm | (Click Here) |                                                                                                              

To view a fund's proxy voting guidelines and proxy voting record for the 12-month period ended June 30, visit http://www.fidelity.com/proxyvotingresults or visit the Securities and Exchange Commission's (SEC) web site at http://www.sec.gov. You may also call 1-800-544-8544 to request a free copy of the proxy voting guidelines.

Standard & Poor's, S&P and S&P 500 are registered service marks of The McGraw-Hill Companies, Inc. and have been licensed for use by Fidelity Distributors Corporation.

Other third-party marks appearing herein are the property of their respective owners.

All other marks appearing herein are registered or unregistered trademarks or service marks of FMR LLC or an affiliated company. © 2015 FMR LLC. All rights reserved.

This report and the financial statements contained herein are submitted for the general information of the shareholders of the fund. This report is not authorized for distribution to prospective investors in the fund unless preceded or accompanied by an effective prospectus.

A fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-Q. Forms N-Q are available on the SEC's web site at http://www.sec.gov.A fund's Forms N-Q may be reviewed and copied at the SEC's Public Reference Room in Washington, DC. Information regarding the operation of the SEC's Public Reference Room may be obtained by calling 1-800-SEC-0330. For a complete list of a fund's portfolio holdings, view the most recent holdings listing, semiannual report, or annual report on Fidelity's web site at http://www.fidelity.com, http://www.advisor.fidelity.com, or http://www.401k.com, as applicable.

NOT FDIC INSURED • MAY LOSE VALUE • NO BANK GUARANTEE

Neither the fund nor Fidelity Distributors Corporation is a bank.

Semiannual Report

---

# Shareholder Expense Example

As a shareholder of the Fund, you incur two types of costs: (1) transaction costs, including sales charges (loads) on purchase payments or redemption proceeds, redemption fees and (2) ongoing costs, including management fees, distribution and/or service (12b-1) fees and other Fund expenses. This Example is intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds.

The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (November 1, 2014 to April 30, 2015).

Actual Expenses

The first line of the accompanying table for each class of the Fund provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000.00 (for example, an $8,600 account value divided by $1,000.00 = 8.6), then multiply the result by the number in the first line for a class of the Fund under the heading entitled "Expenses Paid During Period" to estimate the expenses you paid on your account during this period. A small balance maintenance fee of $12.00 that is charged once a year may apply for certain accounts with a value of less than $2,000. This fee is not included in the table below. If it was, the estimate of expenses you paid during the period would be higher, and your ending account value lower, by this amount. In addition, the Fund, as a shareholder in the underlying Fidelity Central Funds, will indirectly bear its pro-rata share of the fees and expenses incurred by the underlying Fidelity Central Funds. These fees and expenses are not included in the Fund's annualized expense ratio used to calculate the expense estimate in the table below.

Hypothetical Example for Comparison Purposes

The second line of the accompanying table for each class of the Fund provides information about hypothetical account values and hypothetical expenses based on a Class' actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Class' actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds. A small balance maintenance fee of $12.00 that is charged once a year may apply for certain accounts with a value of less than $2,000. This fee is not included in the table below. If it was, the estimate of expenses you paid during the period would be higher, and your ending account value lower, by this amount. In addition, the Fund, as a shareholder in the underlying Fidelity Central Funds, will indirectly bear its pro-rata share of the fees and expenses incurred by the underlying Fidelity Central Funds. These fees and expenses are not included in the Fund's annualized expense ratio used to calculate the expense estimate in the table below.

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transaction costs. Therefore, the second line of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.

Semiannual Report

Shareholder Expense Example - continued

|                        | Annualized
Expense RatioB | Beginning
Account Value
November 1, 2014 | Ending
Account Value
April 30, 2015 | Expenses Paid
During Period*November 1, 2014
to April 30, 2015
|----------------------- | ------------------------- | ---------------------------------------- | ----------------------------------- | --------------------------------------------------------------
|Class A                 | 1.53%                     |                                          |                                     |                                                               
|Actual                  |                           | $	1,000.00                               | $	1,112.20                          | $	8.01                                                        
|HypotheticalA           |                           | $	1,000.00                               | $	1,017.21                          | $	7.65                                                        
|Class T                 | 1.81%                     |                                          |                                     |                                                               
|Actual                  |                           | $	1,000.00                               | $	1,110.10                          | $	9.47                                                        
|HypotheticalA           |                           | $	1,000.00                               | $	1,015.82                          | $	9.05                                                        
|Class B                 | 2.31%                     |                                          |                                     |                                                               
|Actual                  |                           | $	1,000.00                               | $	1,107.60                          | $	12.07                                                       
|HypotheticalA           |                           | $	1,000.00                               | $	1,013.34                          | $	11.53                                                       
|Class C                 | 2.30%                     |                                          |                                     |                                                               
|Actual                  |                           | $	1,000.00                               | $	1,107.40                          | $	12.02                                                       
|HypotheticalA           |                           | $	1,000.00                               | $	1,013.39                          | $	11.48                                                       
|International Small Cap | 1.25%                     |                                          |                                     |                                                               
|Actual                  |                           | $	1,000.00                               | $	1,113.30                          | $	6.55                                                        
|HypotheticalA           |                           | $	1,000.00                               | $	1,018.60                          | $	6.26                                                        
|Institutional Class     | 1.19%                     |                                          |                                     |                                                               
|Actual                  |                           | $	1,000.00                               | $	1,113.70                          | $	6.24                                                        
|HypotheticalA           |                           | $	1,000.00                               | $	1,018.89                          | $	5.96                                                        

A5% return per year before expenses

BAnnualized expense ratio reflects expenses net of applicable fee waivers.

*Expenses are equal to each Class' annualized expense ratio, multiplied by the average account value over the period, multiplied by 181/365 (to reflect the one-half year period).

Semiannual Report



---

# Investment Changes (Unaudited)

|Geographic Diversification (% of fund's net assets)
|---------------------------------------------------
|As of April 30, 2015                               
|int746                                             
|int748                                             
|int750                                             
|int752                                             
|int754                                             
|int756                                             
|int758                                             
|int760                                             
|int762                                             
|int764                                             

int766

|*Includes Short-Term Investments and Net Other Assets (Liabilities).                                                               
|-----------------------------------------------------------------------------------------------------------------------------------
|Percentages are based on country or territory of incorporation and are adjusted for the effect of futures contracts, if applicable.

|As of October 31, 2014
|----------------------
|int768                
|int770                
|int772                
|int774                
|int776                
|int778                
|int780                
|int782                
|int784                
|int786                

int788

|*Includes Short-Term Investments and Net Other Assets (Liabilities).                                                               
|-----------------------------------------------------------------------------------------------------------------------------------
|Percentages are based on country or territory of incorporation and are adjusted for the effect of futures contracts, if applicable.

|Asset Allocation as of April 30, 2015                                       
|----------------------------------------------------------------------------
|                                                                            
|Stocks                                                                      
|Short-Term Investments and Net Other Assets (Liabilities)                   
|Top Ten Stocks as of April 30, 2015                                         
|                                                                            
|Tsuruha Holdings, Inc. (Japan, Food & Staples Retailing)                    
|EBOS Group Ltd. (New Zealand, Health Care Providers & Services)             
|Vontobel Holdings AG (Switzerland, Capital Markets)                         
|United Drug PLC (United Kingdom) (Ireland, Health Care Providers & Services)
|Close Brothers Group PLC (United Kingdom, Capital Markets)                  
|Frutarom Industries Ltd. (Israel, Chemicals)                                
|Jyske Bank A/S (Reg.) (Denmark, Banks)                                      
|Nitori Holdings Co. Ltd. (Japan, Specialty Retail)                          
|Allied World Assurance Co. (Switzerland, Insurance)                         
|TKC Corp. (Japan, IT Services)                                              
|                                                                            
|Market Sectors as of April 30, 2015                                         
|                                                                            
|Financials                                                                  
|Industrials                                                                 
|Consumer Discretionary                                                      
|Information Technology                                                      
|Health Care                                                                 
|Materials                                                                   
|Consumer Staples                                                            
|Energy                                                                      
|Utilities                                                                   
|Telecommunication Services                                                  

Semiannual Report



---

# Investments April 30, 2015

Showing Percentage of Net Assets

|Common Stocks - 94.3%                                      
|-----------------------------------------------------------
|                                                           
|Australia - 4.0%                                           
|Austal Ltd.                                                
|Bradken Ltd.                                               
|Challenger Ltd.                                            
|Charter Hall Group unit                                    
|GUD Holdings Ltd.                                          
|Imdex Ltd. (a)                                             
|Life Healthcare Group Ltd.                                 
|Nanosonics Ltd. (a)                                        
|RCG Corp. Ltd.                                             
|Slater & Gordon Ltd. (d)                                   
|SomnoMed Ltd. (a)                                          
|TOTAL AUSTRALIA                                            
|Austria - 1.4%                                             
|Andritz AG                                                 
|RHI AG                                                     
|TOTAL AUSTRIA                                              
|Bailiwick of Jersey - 1.3%                                 
|Kennedy Wilson Europe Real Estate PLC                      
|Regus PLC                                                  
|TOTAL BAILIWICK OF JERSEY                                  
|Belgium - 0.8%                                             
|Barco NV (d)                                               
|Econocom Group SA (d)                                      
|TOTAL BELGIUM                                              
|Bermuda - 2.6%                                             
|APT Satellite Holdings Ltd.                                
|BW Offshore Ltd.                                           
|Hiscox Ltd.                                                
|Petra Diamonds Ltd. (a)                                    
|Travelport Worldwide Ltd. (d)                              
|TOTAL BERMUDA                                              
|Brazil - 0.1%                                              
|QGEP Participacoes SA                                      
|British Virgin Islands - 0.2%                              
|Gem Diamonds Ltd.                                          
|Canada - 3.5%                                              
|AutoCanada, Inc. (d)                                       
|Common Stocks - continued                                  
|                                                           
|Canada - continued                                         
|Constellation Software, Inc.                               
|Constellation Software, Inc. rights 9/15/15 (a)            
|Dorel Industries, Inc. Class B (sub. vtg.)                 
|Genesis Land Development Corp.                             
|Jean Coutu Group, Inc. Class A (sub. vtg.)                 
|Lassonde Industries, Inc. Class A (sub. vtg.)              
|McCoy Global, Inc.                                         
|ShawCor Ltd. Class A                                       
|Whitecap Resources, Inc. (d)                               
|Whitecap Resources, Inc. rights (a)                        
|TOTAL CANADA                                               
|Cayman Islands - 3.7%                                      
|AMVIG Holdings Ltd.                                        
|Bonjour Holdings Ltd.                                      
|China High Precision Automation Group Ltd. (a)             
|China Metal Recycling (Holdings) Ltd. (a)                  
|Greatview Aseptic Pack Co. Ltd.                            
|Lifestyle International Holdings Ltd.                      
|Pico Far East Holdings Ltd.                                
|SITC International Holdings Co. Ltd.                       
|TOTAL CAYMAN ISLANDS                                       
|Chile - 0.6%                                               
|Quinenco SA                                                
|Denmark - 1.0%                                             
|Jyske Bank A/S (Reg.) (a)                                  
|Finland - 2.4%                                             
|Amer Group PLC (A Shares)                                  
|Asiakastieto Group Oyj (a)                                 
|Cramo Oyj (B Shares) (d)                                   
|Olvi PLC (A Shares)                                        
|Tikkurila Oyj (d)                                          
|TOTAL FINLAND                                              
|France - 3.6%                                              
|ALTEN                                                      
|Coface SA                                                  
|Faiveley Transport                                         
|Sopra Steria Group                                         
|The Lisi Group                                             
|The Vicat Group                                            
|Common Stocks - continued                                  
|                                                           
|France - continued                                         
|Thermador Groupe SA (d)                                    
|Wendel SA                                                  
|TOTAL FRANCE                                               
|Germany - 3.5%                                             
|AURELIUS AG                                                
|CompuGroup Medical AG                                      
|GEA Group AG                                               
|LEG Immobilien AG                                          
|LEONI AG                                                   
|SHW Group                                                  
|TOTAL GERMANY                                              
|Greece - 0.6%                                              
|Metka SA                                                   
|Motor Oil (HELLAS) Corinth Refineries SA                   
|TOTAL GREECE                                               
|Hong Kong - 2.1%                                           
|Dah Sing Banking Group Ltd.                                
|Far East Horizon Ltd.                                      
|Magnificent Estates Ltd.                                   
|Techtronic Industries Co. Ltd.                             
|TOTAL HONG KONG                                            
|India - 0.6%                                               
|Edelweiss Financial Services Ltd.                          
|McLeod Russel India Ltd.                                   
|TOTAL INDIA                                                
|Indonesia - 0.3%                                           
|PT Media Nusantara Citra Tbk                               
|Ireland - 2.1%                                             
|C&C Group PLC                                              
|Mincon Group PLC                                           
|United Drug PLC (United Kingdom)                           
|TOTAL IRELAND                                              
|Isle of Man - 0.4%                                         
|Optimal Payment PLC (a)(d)                                 
|Optimal Payment PLC rights 5/1/15 (a)                      
|TOTAL ISLE OF MAN                                          
|Common Stocks - continued                                  
|                                                           
|Israel - 1.1%                                              
|Frutarom Industries Ltd.                                   
|Italy - 0.9%                                               
|Banco di Desio e della Brianza SpA                         
|Cerved Information Solutions SpA                           
|Danieli & C. Officine Meccaniche SpA                       
|TOTAL ITALY                                                
|Japan - 19.9%                                              
|A/S One Corp.                                              
|ACOM Co. Ltd. (a)(d)                                       
|Aeon Delight Co. Ltd.                                      
|Ain Pharmaciez, Inc.                                       
|Arc Land Sakamoto Co. Ltd.                                 
|Broadleaf Co. Ltd.                                         
|Daiwa Industries Ltd.                                      
|Fuji Corp.                                                 
|Fukuda Denshi Co. Ltd.                                     
|Funai Soken Holdings, Inc.                                 
|GMO Internet, Inc.                                         
|Iida Group Holdings Co. Ltd.                               
|JSR Corp.                                                  
|KAWAI Musical Instruments Manufacturing Co. Ltd.           
|Kinugawa Rubber Industrial Co. Ltd.                        
|Kotobuki Spirits Co. Ltd.                                  
|Leopalace21 Corp. (a)                                      
|Meitec Corp.                                               
|Message Co. Ltd.                                           
|Miraca Holdings, Inc.                                      
|Mitani Shoji Co. Ltd.                                      
|Monex Group, Inc.                                          
|Nihon House Holdings Co. Ltd. (d)                          
|Nitori Holdings Co. Ltd.                                   
|Paramount Bed Holdings Co. Ltd.                            
|Ricoh Leasing Co. Ltd.                                     
|San-Ai Oil Co. Ltd.                                        
|Ship Healthcare Holdings, Inc.                             
|TKC Corp.                                                  
|Tokyo Ohka Kogyo Co. Ltd.                                  
|Toshiba Plant Systems & Services Corp.                     
|Toyo Suisan Kaisha Ltd.                                    
|Tsuruha Holdings, Inc.                                     
|Common Stocks - continued                                  
|                                                           
|Japan - continued                                          
|Uchiyama Holdings Co. Ltd.                                 
|VT Holdings Co. Ltd.                                       
|Welcia Holdings Co. Ltd.                                   
|Yamada Consulting Group Co. Ltd.                           
|TOTAL JAPAN                                                
|Korea (South) - 2.2%                                       
|BGFretail Co. Ltd                                          
|DGB Financial Group Co. Ltd.                               
|Fila Korea Ltd.                                            
|Hy-Lok Corp.                                               
|Nice Information & Telecom, Inc.                           
|NS Shopping Co. Ltd.                                       
|TK Corp. (a)                                               
|TOTAL KOREA (SOUTH)                                        
|Luxembourg - 0.9%                                          
|Grand City Properties SA (a)                               
|Malaysia - 0.3%                                            
|Kossan Rubber Industries Bhd                               
|Netherlands - 1.5%                                         
|Amsterdam Commodities NV                                   
|BinckBank NV                                               
|IMCD Group BV                                              
|TOTAL NETHERLANDS                                          
|New Zealand - 2.0%                                         
|EBOS Group Ltd.                                            
|Nuplex Industries Ltd.                                     
|TOTAL NEW ZEALAND                                          
|Norway - 2.0%                                              
|ABG Sundal Collier ASA (a)                                 
|Ekornes A/S                                                
|Kongsberg Gruppen ASA                                      
|Spectrum ASA                                               
|TOTAL NORWAY                                               
|Singapore - 2.4%                                           
|Amtek Engineering Ltd.                                     
|Boustead Projects Pte Ltd. (a)                             
|Boustead Singapore Ltd.                                    
|Hour Glass Ltd.                                            
|Common Stocks - continued                                  
|                                                           
|Singapore - continued                                      
|Mapletree Industrial (REIT)                                
|OSIM International Ltd.                                    
|Wing Tai Holdings Ltd.                                     
|TOTAL SINGAPORE                                            
|South Africa - 1.1%                                        
|Capitec Bank Holdings Ltd.                                 
|Clicks Group Ltd. (e)                                      
|TOTAL SOUTH AFRICA                                         
|Spain - 0.5%                                               
|Hispania Activos Inmobiliarios SA (a)                      
|Sweden - 0.7%                                              
|AddTech AB (B Shares)                                      
|Meda AB (A Shares)                                         
|TOTAL SWEDEN                                               
|Switzerland - 4.7%                                         
|Allied World Assurance Co.                                 
|Clariant AG (Reg.)                                         
|Daetwyler Holdings AG                                      
|Pargesa Holding SA                                         
|Vontobel Holdings AG                                       
|VZ Holding AG                                              
|TOTAL SWITZERLAND                                          
|Taiwan - 1.1%                                              
|King's Town Bank                                           
|Richtek Technology Corp.                                   
|Tripod Technology Corp.                                    
|TOTAL TAIWAN                                               
|Thailand - 1.1%                                            
|Delta Electronics PCL (For. Reg.)                          
|TISCO Financial Group PCL                                  
|TOTAL THAILAND                                             
|Turkey - 0.4%                                              
|Aygaz A/S                                                  
|United Kingdom - 15.4%                                     
|Aberdeen Asset Management PLC                              
|Alent PLC                                                  
|Common Stocks - continued                                  
|                                                           
|United Kingdom - continued                                 
|Amec Foster Wheeler PLC                                    
|Ashmore Group PLC (d)                                      
|Balfour Beatty PLC                                         
|BBA Aviation PLC                                           
|Bond International Software PLC                            
|Brammer PLC                                                
|Brewin Dolphin Holding PLC                                 
|Cineworld Group PLC                                        
|Close Brothers Group PLC                                   
|Countrywide PLC                                            
|Diploma PLC                                                
|Exova Group Ltd. PLC                                       
|Informa PLC                                                
|ITE Group PLC                                              
|Luxfer Holdings PLC sponsored ADR                          
|McColl's Retail Group PLC                                  
|Mears Group PLC                                            
|Meggitt PLC                                                
|Micro Focus International PLC                              
|Moneysupermarket.com Group PLC                             
|Provident Financial PLC                                    
|Pureprofile Media PLC (f)                                  
|Silverdell PLC (a)                                         
|Sinclair Pharma PLC (a)                                    
|Spectris PLC                                               
|Ultra Electronics Holdings PLC                             
|TOTAL UNITED KINGDOM                                       
|United States of America - 1.3%                            
|Dillard's, Inc. Class A                                    
|Hornbeck Offshore Services, Inc. (a)(d)                    
|YOU On Demand Holdings, Inc. warrants 8/30/17 (a)(f)       
|TOTAL UNITED STATES OF AMERICA                             
|TOTAL COMMON STOCKS
(Cost $735,420,879)                    
|Nonconvertible Preferred Stocks - 0.3%                     
|                                                           
|Brazil - 0.3%                                              
|Banco ABC Brasil SA
(Cost $2,337,722)                      
|Money Market Funds - 6.8%                                  
|                                                           
|Fidelity Cash Central Fund, 0.15% (b)                      
|Fidelity Securities Lending Cash Central Fund, 0.17% (b)(c)
|TOTAL MONEY MARKET FUNDS
(Cost $57,434,856)                
|TOTAL INVESTMENT PORTFOLIO - 101.4%
(Cost $795,193,457)    
|NET OTHER ASSETS (LIABILITIES) - (1.4)%                    
|NET ASSETS - 100%                                          

|Legend                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|(a)	Non-income producing                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|(b)	Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request.
|(c)	Investment made with cash collateral received from securities on loan.                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|(d)	Security or a portion of the security is on loan at period end.                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
|(e)	A portion of the security sold on a delayed delivery basis.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|(f)	Restricted securities - Investment in securities not registered under the Securities Act of 1933 (excluding 144A issues). At the end of the period, the value of restricted securities (excluding 144A issues) amounted to $892,580 or 0.1% of net assets.                                                                                                                                                                                                                                                                                 
|Additional information on each restricted holding is as follows:                                                                                                                                                                                                                                                                                                                                                                                                                                                                               

|Security                                      | Acquisition Date | Acquisition Cost
|--------------------------------------------- | ---------------- | ----------------
|Pureprofile Media PLC                         | 11/6/14          | $	958,676       
|YOU On Demand Holdings, Inc. warrants 8/30/17 | 9/14/12          | $	0             

|Affiliated Central Funds                                                                                                     
|-----------------------------------------------------------------------------------------------------------------------------
|Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:

|Fund                                          | Income earned
|--------------------------------------------- | -------------
|Fidelity Cash Central Fund                    | $	24,112     
|Fidelity Securities Lending Cash Central Fund | 70,251       
|Total                                         | $	94,363     

|Other Information                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|Categorizations in the Schedule of Investments are based on country or territory of incorporation.                                                                                                                                                                                                                                                                                                                                                                                             
|The following is a summary of the inputs used, as of April 30, 2015, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the tables below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

|Valuation Inputs at Reporting Date:
|-----------------------------------
|Description                        
|Investments in Securities:         
|Equities:                          
|Consumer Discretionary             
|Consumer Staples                   
|Energy                             
|Financials                         
|Health Care                        
|Industrials                        
|Information Technology             
|Materials                          
|Telecommunication Services         
|Utilities                          
|Money Market Funds                 
|Total Investments in Securities:   

|The following is a summary of transfers between Level 1 and Level 2 for the period ended April 30, 2015. Transfers are assumed to have occurred at the beginning of the period, and are primarily attributable to the valuation techniques used for foreign equity securities, as discussed in the accompanying Notes to Financial Statements:
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|Transfers          | Total        
|------------------ | -------------
|Level 1 to Level 2 | $	364,995,764
|Level 2 to Level 1 | $	132,207,907

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

---

# Financial Statements

## Statement of Assets and Liabilities

|                                                                                                                                                      | April 30, 2015
|----------------------------------------------------------------------------------------------------------------------------------------------------- | --------------
|                                                                                                                                                      |               
|Assets                                                                                                                                                |               
|Investment in securities, at value (including securities loaned of $16,131,033) - See accompanying schedule:
Unaffiliated issuers (cost $737,758,601) | $	799,527,213 
|Fidelity Central Funds (cost $57,434,856)                                                                                                             | 57,434,856    
|Total Investments (cost $795,193,457)                                                                                                                 |               
|Cash                                                                                                                                                  |               
|Foreign currency held at value (cost $209,409)                                                                                                        |               
|Receivable for investments sold                                                                                                                       |               
|Regular delivery                                                                                                                                      |               
|Delayed delivery                                                                                                                                      |               
|Receivable for fund shares sold                                                                                                                       |               
|Dividends receivable                                                                                                                                  |               
|Distributions receivable from Fidelity Central Funds                                                                                                  |               
|Prepaid expenses                                                                                                                                      |               
|Other receivables                                                                                                                                     |               
|Total assets                                                                                                                                          |               
|                                                                                                                                                      |               
|Liabilities                                                                                                                                           |               
|Payable for investments purchased                                                                                                                     | $	3,277,824   
|Payable for fund shares redeemed                                                                                                                      | 716,925       
|Accrued management fee                                                                                                                                | 625,388       
|Distribution and service plan fees payable                                                                                                            | 18,523        
|Other affiliated payables                                                                                                                             | 196,703       
|Other payables and accrued expenses                                                                                                                   | 187,342       
|Collateral on securities loaned, at value                                                                                                             | 16,973,028    
|Total liabilities                                                                                                                                     |               
|                                                                                                                                                      |               
|Net Assets                                                                                                                                            |               
|Net Assets consist of:                                                                                                                                |               
|Paid in capital                                                                                                                                       |               
|Undistributed net investment income                                                                                                                   |               
|Accumulated undistributed net realized gain (loss) on investments and foreign currency transactions                                                   |               
|Net unrealized appreciation (depreciation) on investments and assets and liabilities in foreign currencies                                            |               
|Net Assets                                                                                                                                            |               

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Statement of Assets and Liabilities - continued

|                                                                                                                              | April 30, 2015
|----------------------------------------------------------------------------------------------------------------------------- | --------------
|                                                                                                                              |               
|Calculation of Maximum Offering Price
Class A:
Net Asset Valueand redemption price per share ($25,862,836 ÷ 1,088,728 shares) |               
|                                                                                                                              |               
|Maximum offering price per share (100/94.25 of $23.76)                                                                        |               
|Class T:
Net Asset Value and redemption price per share ($11,893,094 ÷ 503,128 shares)                                        |               
|                                                                                                                              |               
|Maximum offering price per share (100/96.50 of $23.64)                                                                        |               
|Class B:
Net Asset Value and offering price per share ($429,593 ÷ 18,397 shares)A                                             |               
|                                                                                                                              |               
|Class C:
Net Asset Value and offering price per share ($10,044,782 ÷ 435,200 shares)A                                         |               
|                                                                                                                              |               
|International Small Cap:
Net Asset Value, offering price and redemption price per share ($787,896,354 ÷ 32,689,167 shares)    |               
|                                                                                                                              |               
|Institutional Class:
Net Asset Value, offering price and redemption price per share ($9,264,292 ÷ 381,484 shares)             |               

ARedemption price per share is equal to net asset value less any applicable contingent deferred sales charge.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

Financial Statements - continued

## Statement of Operations

|                                                                                                                                      | Six months ended April 30, 2015
|------------------------------------------------------------------------------------------------------------------------------------- | -------------------------------
|                                                                                                                                      |                                
|Investment Income                                                                                                                     |                                
|Dividends                                                                                                                             |                                
|Income from Fidelity Central Funds                                                                                                    |                                
|Income before foreign taxes withheld                                                                                                  |                                
|Less foreign taxes withheld                                                                                                           |                                
|Total income                                                                                                                          |                                
|                                                                                                                                      |                                
|Expenses                                                                                                                              |                                
|Management fee
Basic fee                                                                                                              | $	3,430,863                    
|Performance adjustment                                                                                                                | 243,998                        
|Transfer agent fees                                                                                                                   | 1,010,727                      
|Distribution and service plan fees                                                                                                    | 113,958                        
|Accounting and security lending fees                                                                                                  | 195,142                        
|Custodian fees and expenses                                                                                                           | 57,214                         
|Independent trustees' compensation                                                                                                    | 1,642                          
|Registration fees                                                                                                                     | 47,346                         
|Audit                                                                                                                                 | 81,974                         
|Legal                                                                                                                                 | 1,749                          
|Miscellaneous                                                                                                                         | 5,809                          
|Total expenses before reductions                                                                                                      | 5,190,422                      
|Expense reductions                                                                                                                    | (1,846)                        
|Net investment income (loss)                                                                                                          |                                
|Realized and Unrealized Gain (Loss)
Net realized gain (loss) on:                                                                      |                                
|Investment securities:                                                                                                                |                                
|Unaffiliated issuers (net of foreign taxes of $109,783)                                                                               | 8,825,411                      
|Foreign currency transactions                                                                                                         | (130,169)                      
|Total net realized gain (loss)                                                                                                        |                                
|Change in net unrealized appreciation (depreciation) on:
Investment securities (net of decrease in deferred foreign taxes of $51,983) | 69,433,131                     
|Assets and liabilities in foreign currencies                                                                                          | 33,718                         
|Total change in net unrealized appreciation (depreciation)                                                                            |                                
|Net gain (loss)                                                                                                                       |                                
|Netincrease (decrease) in net assets resulting from operations                                                                        |                                

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Statement of Changes in Net Assets

|                                                                                                                                                | Six months ended
April 30,
2015 | Year ended
October 31,
2014
|----------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------- | ---------------------------
|Increase (Decrease) in Net Assets                                                                                                               |                                 |                            
|Operations                                                                                                                                      |                                 |                            
|Net investment income (loss)                                                                                                                    | $	5,542,078                     | $	10,368,645               
|Net realized gain (loss)                                                                                                                        | 8,695,242                       | 226,736,010                
|Change in net unrealized appreciation (depreciation)                                                                                            | 69,466,849                      | (253,669,311)              
|Netincrease (decrease) in net assets resulting
from operations                                                                                  | 83,704,169                      | (16,564,656)               
|Distributions to shareholders from net investment income                                                                                        | (7,662,528)                     | (4,012,676)                
|Distributions to shareholders from net realized gain                                                                                            | (116,906,834)                   | (26,257,450)               
|Total distributions                                                                                                                             | (124,569,362)                   | (30,270,126)               
|Share transactions - net increase (decrease)                                                                                                    | (13,859,721)                    | (201,807,331)              
|Redemption fees                                                                                                                                 | 42,072                          | 276,780                    
|Total increase (decrease) in net assets                                                                                                         | (54,682,842)                    | (248,365,333)              
|                                                                                                                                                |                                 |                            
|Net Assets                                                                                                                                      |                                 |                            
|Beginning of period                                                                                                                             | 900,073,793                     | 1,148,439,126              
|End of period (including undistributed net investment income of $5,030,279 and undistributed net investment income of $7,150,729, respectively) | $	845,390,951                   | $	900,073,793              

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - Class A

|                                          | Six months ended
April 30, | Years ended October 31,
|----------------------------------------- | -------------------------- | -----------------------
|                                          | 2015                       | 2014                   
|Selected Per-Share Data                   |                            |                        
|Net asset value, beginning of period      | $	24.98                    | $	26.34                
|Income from Investment Operations         |                            |                        
|Net investment income (loss)E             | .13                        | .17                    
|Net realized and unrealized gain (loss)   | 2.26                       | (.89)                  
|Total from investment operations          | 2.39                       | (.72)                  
|Distributions from net investment income  | (.16)                      | (.05)                  
|Distributions from net realized gain      | (3.45)                     | (.60)                  
|Total distributions                       | (3.61)                     | (.65)                  
|Redemption fees added to paid in capitalE | -I                         | .01                    
|Net asset value, end of period            | $	23.76                    | $	24.98                
|Total ReturnB, C, D                       | 11.22%                     | (2.79)%                
|Ratios to Average Net AssetsF, H          |                            |                        
|Expenses before reductions                | 1.53%A                     | 1.50%                  
|Expenses net of fee waivers, if any       | 1.53%A                     | 1.50%                  
|Expenses net of all reductions            | 1.53%A                     | 1.50%                  
|Net investment income (loss)              | 1.12%A                     | .65%                   
|Supplemental Data                         |                            |                        
|Net assets, end of period (000 omitted)   | $	25,863                   | $	24,572               
|Portfolio turnover rate G                 | 27%A                       | 102%                   

AAnnualized

BTotal returns for periods of less than one year are not annualized.

CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

DTotal returns do not include the effect of the sales charges.

ECalculated based on average shares outstanding during the period.

FFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.

GAmount does not include the portfolio activity of any underlying Fidelity Central Funds.

HExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.

IAmount represents less than $.01 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - Class T

|                                          | Six months ended
April 30, | Years ended October 31,
|----------------------------------------- | -------------------------- | -----------------------
|                                          | 2015                       | 2014                   
|Selected Per-Share Data                   |                            |                        
|Net asset value, beginning of period      | $	24.81                    | $	26.17                
|Income from Investment Operations         |                            |                        
|Net investment income (loss)E             | .09                        | .10                    
|Net realized and unrealized gain (loss)   | 2.25                       | (.87)                  
|Total from investment operations          | 2.34                       | (.77)                  
|Distributions from net investment income  | (.06)                      | -                      
|Distributions from net realized gain      | (3.45)                     | (.60)                  
|Total distributions                       | (3.51)                     | (.60)                  
|Redemption fees added to paid in capitalE | -I                         | .01                    
|Net asset value, end of period            | $	23.64                    | $	24.81                
|Total ReturnB, C, D                       | 11.01%                     | (3.00)%                
|Ratios to Average Net AssetsF, H          |                            |                        
|Expenses before reductions                | 1.81%A                     | 1.77%                  
|Expenses net of fee waivers, if any       | 1.81%A                     | 1.77%                  
|Expenses net of all reductions            | 1.81%A                     | 1.76%                  
|Net investment income (loss)              | .85%A                      | .38%                   
|Supplemental Data                         |                            |                        
|Net assets, end of period (000 omitted)   | $	11,893                   | $	12,296               
|Portfolio turnover rate G                 | 27%A                       | 102%                   

AAnnualized

BTotal returns for periods of less than one year are not annualized.

CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

DTotal returns do not include the effect of the sales charges.

ECalculated based on average shares outstanding during the period.

FFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.

GAmount does not include the portfolio activity of any underlying Fidelity Central Funds.

HExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.

IAmount represents less than $.01 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - Class B

|                                          | Six months ended
April 30, | Years ended October 31,
|----------------------------------------- | -------------------------- | -----------------------
|                                          | 2015                       | 2014                   
|Selected Per-Share Data                   |                            |                        
|Net asset value, beginning of period      | $	24.51                    | $	25.87                
|Income from Investment Operations         |                            |                        
|Net investment income (loss)E             | .04                        | (.03)                  
|Net realized and unrealized gain (loss)   | 2.22                       | (.87)                  
|Total from investment operations          | 2.26                       | (.90)                  
|Distributions from net realized gain      | (3.42)                     | (.47)                  
|Redemption fees added to paid in capitalE | -I                         | .01                    
|Net asset value, end of period            | $	23.35                    | $	24.51                
|Total ReturnB, C, D                       | 10.76%                     | (3.52)%                
|Ratios to Average Net AssetsF, H          |                            |                        
|Expenses before reductions                | 2.31%A                     | 2.28%                  
|Expenses net of fee waivers, if any       | 2.31%A                     | 2.28%                  
|Expenses net of all reductions            | 2.31%A                     | 2.27%                  
|Net investment income (loss)              | .35%A                      | (.13)%                 
|Supplemental Data                         |                            |                        
|Net assets, end of period (000 omitted)   | $	430                      | $	507                  
|Portfolio turnover rate G                 | 27%A                       | 102%                   

AAnnualized

BTotal returns for periods of less than one year are not annualized.

CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

DTotal returns do not include the effect of the contingent deferred sales charge.

ECalculated based on average shares outstanding during the period.

FFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.

GAmount does not include the portfolio activity of any underlying Fidelity Central Funds.

HExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.

IAmount represents less than $.01 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - Class C

|                                          | Six months ended
April 30, | Years ended October 31,
|----------------------------------------- | -------------------------- | -----------------------
|                                          | 2015                       | 2014                   
|Selected Per-Share Data                   |                            |                        
|Net asset value, beginning of period      | $	24.27                    | $	25.68                
|Income from Investment Operations         |                            |                        
|Net investment income (loss)E             | .04                        | (.02)                  
|Net realized and unrealized gain (loss)   | 2.19                       | (.85)                  
|Total from investment operations          | 2.23                       | (.87)                  
|Distributions from net realized gain      | (3.42)                     | (.55)                  
|Redemption fees added to paid in capitalE | -I                         | .01                    
|Net asset value, end of period            | $	23.08                    | $	24.27                
|Total ReturnB, C, D                       | 10.74%                     | (3.43)%                
|Ratios to Average Net AssetsF, H          |                            |                        
|Expenses before reductions                | 2.30%A                     | 2.23%                  
|Expenses net of fee waivers, if any       | 2.30%A                     | 2.22%                  
|Expenses net of all reductions            | 2.30%A                     | 2.22%                  
|Net investment income (loss)              | .36%A                      | (.07)%                 
|Supplemental Data                         |                            |                        
|Net assets, end of period (000 omitted)   | $	10,045                   | $	12,576               
|Portfolio turnover rate G                 | 27%A                       | 102%                   

AAnnualized

BTotal returns for periods of less than one year are not annualized.

CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

DTotal returns do not include the effect of the contingent deferred sales charge.

ECalculated based on average shares outstanding during the period.

FFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.

GAmount does not include the portfolio activity of any underlying Fidelity Central Funds.

HExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.

IAmount represents less than $.01 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - International Small Cap

|                                          | Six months ended
April 30, | Years ended October 31,
|----------------------------------------- | -------------------------- | -----------------------
|                                          | 2015                       | 2014                   
|Selected Per-Share Data                   |                            |                        
|Net asset value, beginning of period      | $	25.34                    | $	26.67                
|Income from Investment Operations         |                            |                        
|Net investment income (loss)D             | .16                        | .25                    
|Net realized and unrealized gain (loss)   | 2.29                       | (.90)                  
|Total from investment operations          | 2.45                       | (.65)                  
|Distributions from net investment income  | (.24)                      | (.09)                  
|Distributions from net realized gain      | (3.45)                     | (.60)                  
|Total distributions                       | (3.69)                     | (.69)                  
|Redemption fees added to paid in capitalD | -H                         | .01                    
|Net asset value, end of period            | $	24.10                    | $	25.34                
|Total ReturnB, C                          | 11.33%                     | (2.48)%                
|Ratios to Average Net AssetsE, G          |                            |                        
|Expenses before reductions                | 1.26%A                     | 1.21%                  
|Expenses net of fee waivers, if any       | 1.25%A                     | 1.20%                  
|Expenses net of all reductions            | 1.25%A                     | 1.20%                  
|Net investment income (loss)              | 1.40%A                     | .95%                   
|Supplemental Data                         |                            |                        
|Net assets, end of period (000 omitted)   | $	787,896                  | $	842,031              
|Portfolio turnover rate F                 | 27%A                       | 102%                   

AAnnualized

BTotal returns for periods of less than one year are not annualized.

CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

DCalculated based on average shares outstanding during the period.

EFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.

FAmount does not include the portfolio activity of any underlying Fidelity Central Funds.

GExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.

HAmount represents less than $.01 per share.

ITotal distributions of $.46 per share is comprised of distributions from net investment income of $.136 and distributions from net realized gain of $.327 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - Institutional Class

|                                          | Six months ended
April 30, | Years ended October 31,
|----------------------------------------- | -------------------------- | -----------------------
|                                          | 2015                       | 2014                   
|Selected Per-Share Data                   |                            |                        
|Net asset value, beginning of period      | $	25.34                    | $	26.67                
|Income from Investment Operations         |                            |                        
|Net investment income (loss)D             | .17                        | .29                    
|Net realized and unrealized gain (loss)   | 2.30                       | (.90)                  
|Total from investment operations          | 2.47                       | (.61)                  
|Distributions from net investment income  | (.08)                      | (.13)                  
|Distributions from net realized gain      | (3.45)                     | (.60)                  
|Total distributions                       | (3.53)                     | (.73)                  
|Redemption fees added to paid in capitalD | -H                         | .01                    
|Net asset value, end of period            | $	24.28                    | $	25.34                
|Total ReturnB, C                          | 11.37%                     | (2.35)%                
|Ratios to Average Net AssetsE, G          |                            |                        
|Expenses before reductions                | 1.19%A                     | 1.08%                  
|Expenses net of fee waivers, if any       | 1.19%A                     | 1.08%                  
|Expenses net of all reductions            | 1.19%A                     | 1.08%                  
|Net investment income (loss)              | 1.47%A                     | 1.07%                  
|Supplemental Data                         |                            |                        
|Net assets, end of period (000 omitted)   | $	9,264                    | $	8,092                
|Portfolio turnover rateF                  | 27%A                       | 102%                   

AAnnualized

BTotal returns for periods of less than one year are not annualized.

CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

DCalculated based on average shares outstanding during the period.

EFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.

FAmount does not include the portfolio activity of any underlying Fidelity Central Funds.

GExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.

HAmount represents less than $.01 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

---

# Notes to Financial Statements

For the period ended April 30, 2015

1. Organization.

Fidelity® International Small Cap Fund (the Fund) is a fund of Fidelity Investment Trust (the Trust) and is authorized to issue an unlimited number of shares. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Massachusetts business trust. The Fund offers Class A, Class T, Class C, International Small Cap and Institutional Class shares, each of which, along with Class B shares, has equal rights as to assets and voting privileges. Class B shares are closed to new accounts and additional purchases, except for exchanges and reinvestments. Each class has exclusive voting rights with respect to matters that affect that class. Class B shares will automatically convert to Class A shares after a holding period of seven years from the initial date of purchase.

2. Investments in Fidelity Central Funds.

The Fund invests in Fidelity Central Funds, which are open-end investment companies generally available only to other investment companies and accounts managed by the investment adviser and its affiliates. The Fund's Schedule of Investments lists each of the Fidelity Central Funds held as of period end, if any, as an investment of the Fund, but does not include the underlying holdings of each Fidelity Central Fund. As an Investing Fund, the Fund indirectly bears its proportionate share of the expenses of the underlying Fidelity Central Funds.

The Money Market Central Funds seek preservation of capital and current income and are managed by Fidelity Investments Money Management, Inc. (FIMM), an affiliate of the investment adviser. Annualized expenses of the Money Market Central Funds as of their most recent shareholder report date are less than .01%.

A complete unaudited list of holdings for each Fidelity Central Fund is available upon request or at the Securities and Exchange Commission (the SEC) website at www.sec.gov. In addition, the financial statements of the Fidelity Central Funds, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC website or upon request.

3. Significant Accounting Policies.

The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP), which require management to make certain estimates and assumptions at the date of the financial statements. Actual results could differ from those estimates. Subsequent events, if any, through the date that the financial statements were issued have been evaluated in the preparation of

Semiannual Report

Notes to Financial Statements - continued

3. Significant Accounting Policies - continued

the financial statements. The following summarizes the significant accounting policies of the Fund:

Investment Valuation.Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. The Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fidelity Management & Research Company (FMR) Fair Value Committee (the Committee). In accordance with valuation policies and procedures approved by the Board, the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund's valuation policies and procedures and reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee.

The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels as shown below:

Level 1 - quoted prices in active markets for identical investments

Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, etc.)

Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available)

Valuation techniques used to value the Fund's investments by major category are as follows:

Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing vendor on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs),

Semiannual Report

3. Significant Accounting Policies - continued

Investment Valuation - continued

futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. Utilizing these techniques may result in transfers between Level 1 and Level 2. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy.

Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy.

Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. The aggregate value of investments by input level, as of April 30, 2015, including information on transfers between Levels 1 and 2, is included at the end of the Fund's Schedule of Investments.

Foreign Currency.The Fund may use foreign currency contracts to facilitate transactions in foreign-denominated securities. Gains and losses from these transactions may arise from changes in the value of the foreign currency or if the counterparties do not perform under the contracts' terms.

Foreign-denominated assets, including investment securities, and liabilities are translated into U.S. dollars at the exchange rates at period end. Purchases and sales of investment securities, income and dividends received and expenses denominated in foreign currencies are translated into U.S. dollars at the exchange rate in effect on the transaction date.

The effects of exchange rate fluctuations on investments are included with the net realized and unrealized gain (loss) on investment securities. Other foreign currency transactions resulting in realized and unrealized gain (loss) are disclosed separately.

Investment Transactions and Income.For financial reporting purposes, the Fund's investment holdings and NAV include trades executed through the end of the last business day of the period. The NAV per share for processing shareholder transactions is calculated as of the close of business of the New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time and includes trades executed through the end of the prior business day. Gains and losses on securities sold are determined on the basis of identified cost and may include proceeds received from litigation. Dividend income is recorded on the ex-dividend date, except for certain dividends from foreign securities where the ex-dividend date may have passed, which are recorded as soon as the Fund is informed of the ex-dividend date. Non-cash dividends included in dividend income, if any, are

Semiannual Report

Notes to Financial Statements - continued

3. Significant Accounting Policies - continued

Investment Transactions and Income - continued

recorded at the fair market value of the securities received. Income and capital gain distributions from Fidelity Central Funds, if any, are recorded on the ex-dividend date. Distributions received on securities that represent a return of capital or capital gain are recorded as a reduction of cost of investments and/or as a realized gain. Subsequent to ex-dividend date the Fund determines the components of these distributions, based upon receipt of tax filings or other correspondence relating to the underlying investment. Investment income is recorded net of foreign taxes withheld where recovery of such taxes is uncertain.

Class Allocations andExpenses. Investment income, realized and unrealized capital gains and losses, common expenses of the Fund, and certain fund-level expense reductions, if any, are allocated daily on a pro-rata basis to each class based on the relative net assets of each class to the total net assets of the Fund. Each class differs with respect to transfer agent and distribution and service plan fees incurred. Certain expense reductions may also differ by class. For the reporting period, the allocated portion of income and expenses to each class as a percent of its average net assets may vary due to the timing of recording these transactions in relation to fluctuating net assets of the classes. Expenses directly attributable to a fund are charged to that fund. Expenses attributable to more than one fund are allocated among the respective funds on the basis of relative net assets or other appropriate methods. Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.

Income Tax Information and Distributions to Shareholders. Each year, the Fund intends to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code, including distributing substantially all of its taxable income and realized gains. As a result, no provision for U.S. Federal income taxes is required. The Fund files a U.S. federal tax return, in addition to state and local tax returns as required. The Fund's federal income tax returns are subject to examination by the Internal Revenue Service (IRS) for a period of three fiscal years after they are filed. State and local tax returns may be subject to examination for an additional fiscal year depending on the jurisdiction. Foreign taxes are provided for based on the Fund's understanding of the tax rules and rates that exist in the foreign markets in which it invests. The Fund is subject to a tax imposed on capital gains by certain countries in which it invests. An estimated deferred tax liability for net unrealized appreciation on the applicable securities is included in Other payables and accrued expenses on the Statement of Assets & Liabilities.

Distributions are declared and recorded on the ex-dividend date. Income dividends and capital gain distributions are declared separately for each class. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP.

Semiannual Report

3. Significant Accounting Policies - continued

Income Tax Information and Distributions to Shareholders - continued

Capital accounts within the financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations. Capital accounts are not adjusted for temporary book-tax differences which will reverse in a subsequent period.

Book-tax differences are primarily due to futures contracts, foreign currency transactions, passive foreign investment companies (PFIC), capital loss carryforwards and losses deferred due to wash sales.

The federal tax cost of investment securities and unrealized appreciation (depreciation) as of period end were as follows:

|Gross unrealized appreciation                            | $	115,135,403
|-------------------------------------------------------- | -------------
|Gross unrealized depreciation                            | (61,115,594) 
|Net unrealized appreciation (depreciation) on securities | $	54,019,809 
|                                                         |              
|Tax cost                                                 | $	802,942,260

Short-Term Trading (Redemption) Fees. Shares held by investors in the Fund less than 90 days may have been subject to a redemption fee equal to 2.00% of the NAV of shares redeemed. All redemption fees, which reduce the proceeds of the shareholder redemption, are retained by the Fund and accounted for as an addition to paid in capital.

Delayed Delivery Transactions and When-Issued Securities. During the period, the Fund transacted in securities on a delayed delivery or when-issued basis. Payment and delivery may take place after the customary settlement period for that security. The price of the underlying securities and the date when the securities will be delivered and paid for are fixed at the time the transaction is negotiated. With respect to purchase commitments, the Fund identifies securities as segregated in its records with a value at least equal to the amount of the commitment. Losses may arise due to changes in the value of the underlying securities or if the counterparty does not perform under the contract's terms, or if the issuer does not issue the securities due to political, economic, or other factors.

Restricted Securities. The Fund may invest in securities that are subject to legal or contractual restrictions on resale. These securities generally may be resold in transactions exempt from registration or to the public if the securities are registered. Disposal of these securities may involve time-consuming negotiations and expense, and prompt sale at an acceptable price may be difficult. Information regarding restricted securities is included at the end of the Fund's Schedule of Investments.

Semiannual Report

Notes to Financial Statements - continued

3. Significant Accounting Policies - continued

New Accounting Pronouncement.In June 2014, the Financial Accounting Standards Board issued Accounting Standard Update No. 2014-11, Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures (the Update). The Update amends the accounting for certain repurchase agreements and expands disclosure requirements for reverse repurchase agreements, securities lending and other similar transactions. The disclosure requirements are effective for annual and interim reporting periods beginning after December 15, 2014. Management is currently evaluating the impact of the Update on the Fund's financial statements and related disclosures.

4. Purchases and Sales of Investments.

Purchases and sales of securities, other than short-term securities, aggregated $105,012,023 and $243,700,527, respectively.

5. Fees and Other Transactions with Affiliates.

Management Fee. Fidelity Management & Research Company (the investment adviser) and its affiliates provide the Fund with investment management related services for which the Fund pays a monthly management fee. The management fee is the sum of an individual fund fee rate that is based on an annual rate of .60% of the Fund's average net assets and an annualized group fee rate that averaged .25% during the period. The group fee rate is based upon the average net assets of all the mutual funds advised by the investment adviser, including any mutual funds previously advised by the investment adviser that are currently advised by Fidelity SelectCo, LLC, an affiliate of the investment adviser. The group fee rate decreases as assets under management increase and increases as assets under management decrease. In addition, the management fee is subject to a performance adjustment (up to a maximum of ± .20% of the Fund's average net assets over a 36 month performance period). The upward or downward adjustment to the management fee is based on the relative investment performance of International Small Cap as compared to its benchmark index, the MSCI All Country World ex USA Small Cap Index effective April 1, 2014 (the MSCI EAFE Small Cap Index prior to April 1, 2014), over the same 36 month performance period. For the reporting period, the total annualized management fee rate, including the performance adjustment, was .91% of the Fund's average net assets. The performance adjustment included in the management fee rate may be higher or lower than the maximum performance adjustment rate due to the difference between the average net assets for the reporting and performance periods.

Semiannual Report

5. Fees and Other Transactions with Affiliates - continued

Distribution and Service Plan Fees. In accordance with Rule 12b-1 of the 1940 Act, the Fund has adopted separate Distribution and Service Plans for each class of shares. Certain classes pay Fidelity Distributors Corporation (FDC), an affiliate of the investment adviser, separate Distribution and Service Fees, each of which is based on an annual percentage of each class' average net assets. In addition, FDC may pay financial intermediaries for selling shares of the Fund and providing shareholder support services. For the period, the Distribution and Service Fee rates, total fees and amounts retained by FDC were as follows:

|        | Distribution
Fee | Service
Fee | Total Fees | Retained
by FDC
|------- | ---------------- | ----------- | ---------- | ---------------
|Class A | -%               | .25%        | $	29,572   | $	757          
|Class T | .25%             | .25%        | 28,884     | 336            
|Class B | .75%             | .25%        | 2,235      | 1,689          
|Class C | .75%             | .25%        | 53,267     | 6,474          
|        |                  |             | $	113,958  | $	9,256        

Sales Load. FDC may receive a front-end sales charge of up to 5.75% for selling Class A shares and 3.50% for selling Class T shares, some of which is paid to financial intermediaries for selling shares of the Fund. Depending on the holding period, FDC may receive contingent deferred sales charges levied on Class A, Class T, Class B, and Class C redemptions. The deferred sales charges range from 5.00% to 1.00% for Class B shares, 1.00% for Class C shares, 1.00% for certain purchases of Class A shares and .25% for certain purchases of Class T shares.

For the period, sales charge amounts retained by FDC were as follows:

|         | Retained
by FDC
|-------- | ---------------
|Class A  | $	7,739        
|Class T  | 1,570          
|Class B* | 32             
|Class C* | 2,195          
|         | $	11,536       

*When Class B and Class C shares are initially sold, FDC pays commissions from its own resources to financial intermediaries through which the sales are made.

Transfer Agent Fees.Fidelity Investments Institutional Operations Company, Inc., (FIIOC), an affiliate of the investment adviser, is the transfer, dividend disbursing and shareholder servicing agent for each class of the Fund. FIIOC receives account fees and asset-based fees that vary according to the account size and type of account of the shareholders of the respective classes of the Fund FIIOC pays for typesetting, printing and mailing of shareholder reports, except proxy statements.

Semiannual Report

Notes to Financial Statements - continued

5. Fees and Other Transactions with Affiliates - continued

Transfer Agent Fees - continued

For the period, transfer agent fees for each class were as follows:

|                        | Amount      | % of
Class-Level Average
Net Assets*
|----------------------- | ----------- | ------------------------------------
|Class A                 | $	32,791    | .28                                 
|Class T                 | 17,512      | .30                                 
|Class B                 | 664         | .30                                 
|Class C                 | 15,566      | .29                                 
|International Small Cap | 936,865     | .25                                 
|Institutional Class     | 7,329       | .18                                 
|                        | $	1,010,727 |                                     

*	Annualized

Accounting and Security Lending Fees.Fidelity Service Company, Inc. (FSC), an affiliate of the investment adviser, maintains the Fund's accounting records. The accounting fee is based on the level of average net assets for each month. Under a separate contract, FSC administers the security lending program. The security lending fee is based on the number and duration of lending transactions.

Brokerage Commissions.The Fund placed a portion of its portfolio transactions with brokerage firms which are affiliates of the investment adviser. Brokerage commissions are included in net realized gain (loss) and change in net unrealized appreciation (depreciation) in the Statement of Operations. The commissions paid to these affiliated firms were $262 for the period.

Other.During the period, the investment adviser reimbursed the Fund for certain losses in the amount of $1,975.

6. Committed Line of Credit.

The Fund participates with other funds managed by the investment adviser or an affiliate in a $4.25 billion credit facility (the "line of credit") to be utilized for temporary or emergency purposes to fund shareholder redemptions or for other short-term liquidity purposes. The Fund has agreed to pay commitment fees on its pro-rata portion of the line of credit, which amounted to $650 and is reflected in Miscellaneous expenses on the Statement of Operations. During the period, the Fund did not borrow on this line of credit.

Semiannual Report

7. Security Lending.

The Fund lends portfolio securities through a lending agent from time to time in order to earn additional income. For equity securities, a lending agent is used and may loan securities to certain qualified borrowers, including Fidelity Capital Markets (FCM), a broker-dealer affiliated with the Fund. On the settlement date of the loan, the Fund receives collateral (in the form of U.S. Treasury obligations, letters of credit and/or cash) against the loaned securities and maintains collateral in an amount not less than 100% of the market value of the loaned securities during the period of the loan. The market value of the loaned securities is determined at the close of business of the Fund and any additional required collateral is delivered to the Fund on the next business day. If the borrower defaults on its obligation to return the securities loaned because of insolvency or other reasons, the Fund may apply collateral received from the borrower against the obligation. The Fund may experience delays and costs in recovering the securities loaned. Any cash collateral received is invested in the Fidelity Securities Lending Cash Central Fund. The value of loaned securities and cash collateral at period end are disclosed on the Fund's Statement of Assets and Liabilities. The value of securities loaned to FCM at period end was $494,737. Security lending income represents the income earned on investing cash collateral, less rebates paid to borrowers and any lending agent fees associated with the loan, plus any premium payments received for lending certain types of securities. Security lending income is presented in the Statement of Operations as a component of income from Fidelity Central Funds. Total security lending income during the period amounted to $70,251, including $125 from securities loaned to FCM.

8. Expense Reductions.

Through arrangements with the Fund's custodian, credits realized as a result of uninvested cash balances were used to reduce the Fund's expenses. During the period, these credits reduced the Fund's custody expenses by $11.

In addition, the investment adviser reimbursed a portion of the Fund's operating expenses, including certain International Small Cap expenses during the period in the amount of $1,835.

Semiannual Report

Notes to Financial Statements - continued

9. Distributions to Shareholders.

Distributions to shareholders of each class were as follows:

|                           | Six months ended
April 30,
2015 | Year ended
October 31,
2014
|-------------------------- | ------------------------------- | ---------------------------
|From net investment income |                                 |                            
|Class A                    | $	155,785                       | $	48,210                   
|Class T                    | 27,108                          | -                          
|International Small Cap    | 7,454,709                       | 3,601,146                  
|Institutional Class        | 24,926                          | 363,320                    
|Total                      | $	7,662,528                     | $	4,012,676                
|From net realized gain     |                                 |                            
|Class A                    | $	3,382,206                     | $	564,345                  
|Class T                    | 1,671,017                       | 310,220                    
|Class B                    | 66,002                          | 14,343                     
|Class C                    | 1,697,539                       | 305,689                    
|International Small Cap    | 109,040,767                     | 23,368,303                 
|Institutional Class        | 1,049,303                       | 1,694,550                  
|Total                      | $	116,906,834                   | $	26,257,450               

10. Share Transactions.

Share transactions for each class were as follows and may contain automatic conversions between classes or exchanges between funds:

|                              | Shares                          | Dollars                    
|----------------------------- | ------------------------------- | ---------------------------
|                              | Six months ended
April 30,
2015 | Year ended
October 31,
2014
|Class A                       |                                 |                            
|Shares sold                   | 144,281                         | 355,842                    
|Reinvestment of distributions | 159,613                         | 22,103                     
|Shares redeemed               | (198,700)                       | (306,489)                  
|Net increase (decrease)       | 105,194                         | 71,456                     
|Class T                       |                                 |                            
|Shares sold                   | 36,510                          | 115,645                    
|Reinvestment of distributions | 77,005                          | 11,686                     
|Shares redeemed               | (106,019)                       | (148,659)                  
|Net increase (decrease)       | 7,496                           | (21,328)                   
|Class B                       |                                 |                            
|Shares sold                   | 407                             | 3,137                      
|Reinvestment of distributions | 2,954                           | 538                        
|Shares redeemed               | (5,642)                         | (13,726)                   
|Net increase (decrease)       | (2,281)                         | (10,051)                   

Semiannual Report

10. Share Transactions - continued

|                              | Shares                          | Dollars                    
|----------------------------- | ------------------------------- | ---------------------------
|                              | Six months ended
April 30,
2015 | Year ended
October 31,
2014
|Class C                       |                                 |                            
|Shares sold                   | 52,097                          | 207,733                    
|Reinvestment of distributions | 71,584                          | 10,499                     
|Shares redeemed               | (206,727)                       | (222,725)                  
|Net increase (decrease)       | (83,046)                        | (4,493)                    
|International Small Cap       |                                 |                            
|Shares sold                   | 2,614,655                       | 7,158,603                  
|Reinvestment of distributions | 5,231,399                       | 988,313                    
|Shares redeemed               | (8,385,024)                     | (13,529,838)               
|Net increase (decrease)       | (538,970)                       | (5,382,922)                
|Institutional Class           |                                 |                            
|Shares sold                   | 106,777                         | 1,844,038                  
|Reinvestment of distributions | 46,102                          | 61,170                     
|Shares redeemed               | (90,716)                        | (4,099,284)                
|Net increase (decrease)       | 62,163                          | (2,194,076)                

11. Other.

The Fund's organizational documents provide former and current trustees and officers with a limited indemnification against liabilities arising in connection with the performance of their duties to the Fund. In the normal course of business, the Fund may also enter into contracts that provide general indemnifications. The Fund's maximum exposure under these arrangements is unknown as this would be dependent on future claims that may be made against the Fund. The risk of material loss from such claims is considered remote.

At the end of the period, the investment adviser or its affiliates were the owners of record of 16% of the total outstanding shares of the Fund.

Semiannual Report

---

# Report of Independent Registered Public Accounting Firm

To the Trustees of Fidelity Investment Trust and Shareholders of Fidelity International Small Cap Fund:

We have audited the accompanying statement of assets and liabilities of Fidelity International Small Cap Fund (the Fund), a fund of Fidelity Investment Trust, including the schedule of investments, as of April 30, 2015, and the related statement of operations for the six months then ended, the statements of changes in net assets for the six months ended April 30, 2015 and for the year ended October 31, 2014, and the financial highlights for the six months ended April 30, 2015 and for each of the five years in the period ended October 31, 2014. These financial statements and financial highlights are the responsibility of the Fund's management. Our responsibility is to express an opinion on these financial statements and financial highlights based on our audits.

We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements and financial highlights are free of material misstatement. The Fund is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. Our audits included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Fund's internal control over financial reporting. Accordingly, we express no such opinion. An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. Our procedures included confirmation of securities owned as of April 30, 2015, by correspondence with the custodians and brokers; where replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the financial statements and financial highlights referred to above present fairly, in all material respects, the financial position of Fidelity International Small Cap Fund as of April 30, 2015, the results of its operations for the six months then ended, the changes in its net assets for the six months ended April 30, 2015 and for the year ended October 31, 2014, and the financial highlights for the six months ended April 30, 2015 and for each of the five years in the period ended October 31, 2014, in conformity with accounting principles generally accepted in the United States of America.

DELOITTE & TOUCHE LLP

Boston, Massachusetts

June 18, 2015

Semiannual Report

Investment Adviser

Fidelity Management & Research Company
Boston, MA

Investment Sub-Advisers

FMR Co., Inc.

FMR Investment Management
	(U.K.) Limited

Fidelity Management & Research
	(Hong Kong) Limited

Fidelity Management & Research
	(Japan) Limited

FIL Investment Advisors

FIL Investments (Japan) Limited

FIL Investment Advisors (UK)
	Limited

General Distributor

Fidelity Distributors Corporation
Smithfield, RI

Transfer and Service Agents

Fidelity Investments Institutional
	Operations Company, Inc.
Boston, MA

Fidelity Service Company, Inc.
Boston, MA

Custodian

The Bank of New York Mellon
New York, NY

The Fidelity Telephone Connection

Mutual Fund 24-Hour Service

Exchanges/Redemptions 
	and Account Assistance	1-800-544-6666

Product Information	1-800-544-8888

Retirement Accounts	1-800-544-4774 
	(8 a.m. - 9 p.m.)

TDD Service	1-800-544-0118
	for the deaf and hearing impaired
	(9 a.m. - 9 p.m. Eastern time)

Fidelity Automated Service  
	Telephone (FAST®)  int790	1-800-544-5555

int792	Automated line for quickest service

(Fidelity Investment logo)(registered trademark)Corporate Headquarters245 Summer St., Boston, MA 02210www.fidelity.com

`ISC-USAN-0615
1.800661.111`

(Fidelity Investment logo)(registered trademark)Fidelity Advisor®

International Value

Fund - Class A, Class T, Class B 
and Class C

Semiannual Report

April 30, 2015(Fidelity Cover Art)

Class A, Class T, Class B, and Class C are classes of Fidelity® International Value Fund

---

# Contents

|Shareholder Expense Example | (Click Here) | An example of shareholder expenses.                                                                          
|--------------------------- | ------------ | -------------------------------------------------------------------------------------------------------------
|Investment Changes          | (Click Here) | A summary of major shifts in the fund's investments over the past six months.                                
|Investments                 | (Click Here) | A complete list of the fund's investments with their market values.                                          
|Financial Statements        | (Click Here) | Statements of assets and liabilities, operations, and changes in net assets, as well as financial highlights.
|Notes                       | (Click Here) | Notes to financial statements.                                                                               

To view a fund's proxy voting guidelines and proxy voting record for the 12-month period ended June 30, visit http://www.fidelity.com/proxyvotingresults or visit the Securities and Exchange Commission's (SEC) web site at http://www.sec.gov. You may also call 1-877-208-0098 to request a free copy of the proxy voting guidelines.

Standard & Poor's, S&P and S&P 500 are registered service marks of The McGraw-Hill Companies, Inc. and have been licensed for use by Fidelity Distributors Corporation.

Other third-party marks appearing herein are the property of their respective owners.

All other marks appearing herein are registered or unregistered trademarks or service marks of FMR LLC or an affiliated company. © 2015 FMR LLC. All rights reserved.

This report and the financial statements contained herein are submitted for the general information of the shareholders of the fund. This report is not authorized for distribution to prospective investors in the fund unless preceded or accompanied by an effective prospectus.

A fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-Q. Forms N-Q are available on the SEC's web site at http://www.sec.gov.A fund's Forms N-Q may be reviewed and copied at the SEC's Public Reference Room in Washington, DC. Information regarding the operation of the SEC's Public Reference Room may be obtained by calling 1-800-SEC-0330. For a complete list of a fund's portfolio holdings, view the most recent holdings listing, semiannual report, or annual report on Fidelity's web site at http://www.fidelity.com, http://www.advisor.fidelity.com, or http://www.401k.com, as applicable.

NOT FDIC INSURED • MAY LOSE VALUE • NO BANK GUARANTEE

Neither the fund nor Fidelity Distributors Corporation is a bank.

Semiannual Report

---

# Shareholder Expense Example

As a shareholder of the Fund, you incur two types of costs: (1) transaction costs, including sales charges (loads) on purchase payments or redemption proceeds, redemption fees and (2) ongoing costs, including management fees, distribution and/or service (12b-1) fees and other Fund expenses. This Example is intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds.

The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (November 1, 2014 to April 30, 2015).

Actual Expenses

The first line of the accompanying table for each class of the Fund provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000.00 (for example, an $8,600 account value divided by $1,000.00 = 8.6), then multiply the result by the number in the first line for a class of the Fund under the heading entitled "Expenses Paid During Period" to estimate the expenses you paid on your account during this period. A small balance maintenance fee of $12.00 that is charged once a year may apply for certain accounts with a value of less than $2,000. This fee is not included in the table below. If it was, the estimate of expenses you paid during the period would be higher, and your ending account value lower, by this amount. In addition, the Fund, as a shareholder in the underlying Fidelity Central Funds, will indirectly bear its pro-rata share of the fees and expenses incurred by the underlying Fidelity Central Funds. These fees and expenses are not included in the Fund's annualized expense ratio used to calculate the expense estimate in the table below.

Hypothetical Example for Comparison Purposes

The second line of the accompanying table for each class of the Fund provides information about hypothetical account values and hypothetical expenses based on a Class' actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Class' actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds. A small balance maintenance fee of $12.00 that is charged once a year may apply for certain accounts with a value of less than $2,000. This fee is not included in the table below. If it was, the estimate of expenses you paid during the period would be higher, and your ending account value lower, by this amount. In addition, the Fund, as a shareholder in the underlying Fidelity Central Funds, will indirectly bear its pro-rata share of the fees and expenses incurred by the underlying Fidelity Central Funds. These fees and expenses are not included in the Fund's annualized expense ratio used to calculate the expense estimate in the table below.

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transaction costs. Therefore, the second line of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.

Semiannual Report

Shareholder Expense Example - continued

|                    | Annualized 
Expense RatioB | Beginning
Account Value
November 1, 2014 | Ending
Account Value
April 30, 2015 | Expenses Paid
During Period*November 1, 2014 to April 30, 2015
|------------------- | -------------------------- | ---------------------------------------- | ----------------------------------- | --------------------------------------------------------------
|Class A             | 1.42%                      |                                          |                                     |                                                               
|Actual              |                            | $	1,000.00                               | $	1,050.60                          | $	7.22                                                        
|HypotheticalA       |                            | $	1,000.00                               | $	1,017.75                          | $	7.10                                                        
|Class T             | 1.69%                      |                                          |                                     |                                                               
|Actual              |                            | $	1,000.00                               | $	1,049.10                          | $	8.59                                                        
|HypotheticalA       |                            | $	1,000.00                               | $	1,016.41                          | $	8.45                                                        
|Class B             | 2.18%                      |                                          |                                     |                                                               
|Actual              |                            | $	1,000.00                               | $	1,044.90                          | $	11.05                                                       
|HypotheticalA       |                            | $	1,000.00                               | $	1,013.98                          | $	10.89                                                       
|Class C             | 2.18%                      |                                          |                                     |                                                               
|Actual              |                            | $	1,000.00                               | $	1,046.30                          | $	11.06                                                       
|HypotheticalA       |                            | $	1,000.00                               | $	1,013.98                          | $	10.89                                                       
|International Value | 1.06%                      |                                          |                                     |                                                               
|Actual              |                            | $	1,000.00                               | $	1,052.40                          | $	5.39                                                        
|HypotheticalA       |                            | $	1,000.00                               | $	1,019.54                          | $	5.31                                                        
|Institutional Class | 1.17%                      |                                          |                                     |                                                               
|Actual              |                            | $	1,000.00                               | $	1,051.10                          | $	5.95                                                        
|HypotheticalA       |                            | $	1,000.00                               | $	1,018.99                          | $	5.86                                                        

A5% return per year before expenses

BAnnualized expense ratio reflects expenses net of applicable fee waivers.

*Expenses are equal to each Class' annualized expense ratio, multiplied by the average account value over the period, multiplied by 181/365 (to reflect the one-half year period).

Semiannual Report

---

# Investment Changes (Unaudited)

|Geographic Diversification (% of fund's net assets)
|---------------------------------------------------
|As of April 30, 2015                               
|int799                                             
|int801                                             
|int803                                             
|int805                                             
|int807                                             
|int809                                             
|int811                                             
|int813                                             
|int815                                             
|int817                                             

int819

|*Includes short-term investments and net other assets (liabilities)                                                                
|-----------------------------------------------------------------------------------------------------------------------------------
|Percentages are based on country or territory of incorporation and are adjusted for the effect of futures contracts, if applicable.

|As of October 31, 2014
|----------------------
|int821                
|int823                
|int825                
|int827                
|int829                
|int831                
|int833                
|int835                
|int837                
|int839                

int841

|*Includes short-term investments and net other assets (liabilities)                                                                
|-----------------------------------------------------------------------------------------------------------------------------------
|Percentages are based on country or territory of incorporation and are adjusted for the effect of futures contracts, if applicable.

|Asset Allocation as of April 30, 2015                                                 
|--------------------------------------------------------------------------------------
|                                                                                      
|Stocks                                                                                
|Short-Term Investments and Net Other Assets (Liabilities)                             
|Top Ten Stocks as of April 30, 2015                                                   
|                                                                                      
|Total SA (France, Oil, Gas & Consumable Fuels)                                        
|BP PLC sponsored ADR (United Kingdom, Oil, Gas & Consumable Fuels)                    
|Toyota Motor Corp. (Japan, Automobiles)                                               
|Mitsubishi UFJ Financial Group, Inc. (Japan, Banks)                                   
|Sanofi SA (France, Pharmaceuticals)                                                   
|HSBC Holdings PLC sponsored ADR (United Kingdom, Banks)                               
|Nestle SA (Switzerland, Food Products)                                                
|Vodafone Group PLC sponsored ADR (United Kingdom, Wireless Telecommunication Services)
|Westpac Banking Corp. (Australia, Banks)                                              
|BASF AG (Germany, Chemicals)                                                          
|                                                                                      
|Market Sectors as of April 30, 2015                                                   
|                                                                                      
|Financials                                                                            
|Consumer Discretionary                                                                
|Health Care                                                                           
|Industrials                                                                           
|Consumer Staples                                                                      
|Telecommunication Services                                                            
|Energy                                                                                
|Information Technology                                                                
|Materials                                                                             
|Utilities                                                                             

Semiannual Report

---

# Investments April 30, 2015 (Unaudited)

Showing Percentage of Net Assets

|Common Stocks - 98.1%                                      
|-----------------------------------------------------------
|                                                           
|Australia - 4.6%                                           
|Ansell Ltd.                                                
|Australia & New Zealand Banking Group Ltd.                 
|Telstra Corp. Ltd.                                         
|Transurban Group unit                                      
|Westpac Banking Corp.                                      
|TOTAL AUSTRALIA                                            
|Bailiwick of Jersey - 1.8%                                 
|Shire PLC                                                  
|Wolseley PLC                                               
|TOTAL BAILIWICK OF JERSEY                                  
|Belgium - 0.6%                                             
|Anheuser-Busch InBev SA NV                                 
|Bermuda - 0.2%                                             
|Travelport Worldwide Ltd. (d)                              
|Canada - 1.1%                                              
|Imperial Oil Ltd.                                          
|Potash Corp. of Saskatchewan, Inc.                         
|TOTAL CANADA                                               
|Denmark - 0.4%                                             
|Topdanmark A/S (a)                                         
|Finland - 1.1%                                             
|Sampo Oyj (A Shares)                                       
|France - 14.8%                                             
|Atos Origin SA                                             
|AXA SA                                                     
|Cap Gemini SA                                              
|Havas SA                                                   
|Orange SA                                                  
|Renault SA                                                 
|Sanofi SA                                                  
|Societe Generale Series A                                  
|Total SA                                                   
|Unibail-Rodamco                                            
|VINCI SA                                                   
|Vivendi SA                                                 
|TOTAL FRANCE                                               
|Germany - 5.2%                                             
|BASF AG (d)                                                
|Common Stocks - continued                                  
|                                                           
|Germany - continued                                        
|Bayer AG                                                   
|Continental AG                                             
|Fresenius SE & Co. KGaA                                    
|GEA Group AG                                               
|TOTAL GERMANY                                              
|Ireland - 1.2%                                             
|Actavis PLC (a)                                            
|Israel - 1.3%                                              
|Teva Pharmaceutical Industries Ltd. sponsored ADR          
|Italy - 2.0%                                               
|Intesa Sanpaolo SpA                                        
|Mediaset SpA                                               
|Telecom Italia SpA (a)                                     
|TOTAL ITALY                                                
|Japan - 20.4%                                              
|Astellas Pharma, Inc.                                      
|Dentsu, Inc.                                               
|East Japan Railway Co.                                     
|Fujitsu Ltd.                                               
|Hitachi Ltd.                                               
|Hoya Corp.                                                 
|Itochu Corp.                                               
|Japan Tobacco, Inc.                                        
|KDDI Corp.                                                 
|Makita Corp.                                               
|Mitsubishi UFJ Financial Group, Inc.                       
|Nippon Prologis REIT, Inc.                                 
|Nippon Telegraph & Telephone Corp.                         
|OMRON Corp.                                                
|ORIX Corp.                                                 
|Seven & i Holdings Co. Ltd.                                
|Seven Bank Ltd.                                            
|Sony Financial Holdings, Inc.                              
|Sumitomo Mitsui Trust Holdings, Inc.                       
|Toyota Motor Corp.                                         
|TOTAL JAPAN                                                
|Korea (South) - 0.5%                                       
|Samsung Electronics Co. Ltd.                               
|Common Stocks - continued                                  
|                                                           
|Luxembourg - 0.5%                                          
|RTL Group SA                                               
|Netherlands - 2.9%                                         
|ING Groep NV (Certificaten Van Aandelen)                   
|Mylan N.V. (a)                                             
|Reed Elsevier NV                                           
|TOTAL NETHERLANDS                                          
|Singapore - 1.5%                                           
|Singapore Telecommunications Ltd.                          
|UOL Group Ltd.                                             
|TOTAL SINGAPORE                                            
|Spain - 1.8%                                               
|Iberdrola SA                                               
|Mediaset Espana Comunicacion, S.A.                         
|TOTAL SPAIN                                                
|Sweden - 1.3%                                              
|Nordea Bank AB                                             
|Switzerland - 6.8%                                         
|Nestle SA                                                  
|Novartis AG                                                
|Roche Holding AG (participation certificate)               
|Syngenta AG (Switzerland)                                  
|UBS Group AG                                               
|Zurich Insurance Group AG                                  
|TOTAL SWITZERLAND                                          
|United Kingdom - 24.9%                                     
|AstraZeneca PLC (United Kingdom)                           
|Aviva PLC                                                  
|BAE Systems PLC                                            
|Barclays PLC                                               
|BG Group PLC                                               
|BP PLC sponsored ADR                                       
|Bunzl PLC                                                  
|Compass Group PLC                                          
|HSBC Holdings PLC sponsored ADR                            
|Imperial Tobacco Group PLC                                 
|Informa PLC                                                
|ITV PLC                                                    
|Johnson Matthey PLC                                        
|Common Stocks - continued                                  
|                                                           
|United Kingdom - continued                                 
|Liberty Global PLC Class A (a)                             
|Lloyds Banking Group PLC                                   
|Meggitt PLC                                                
|Micro Focus International PLC                              
|National Grid PLC                                          
|Prudential PLC                                             
|Rio Tinto PLC                                              
|Standard Chartered PLC (United Kingdom)                    
|Tesco PLC                                                  
|Vodafone Group PLC sponsored ADR                           
|TOTAL UNITED KINGDOM                                       
|United States of America - 3.2%                            
|Altria Group, Inc.                                         
|Constellation Brands, Inc. Class A (sub. vtg.) (a)         
|Energizer Holdings, Inc.                                   
|McGraw Hill Financial, Inc.                                
|ResMed, Inc. CDI                                           
|TOTAL UNITED STATES OF AMERICA                             
|TOTAL COMMON STOCKS
(Cost $198,440,368)                    
|Nonconvertible Preferred Stocks - 1.1%                     
|                                                           
|Germany - 1.1%                                             
|Volkswagen AG
(Cost $2,072,501)                            
|Money Market Funds - 1.8%                                  
|                                                           
|Fidelity Cash Central Fund, 0.15% (b)                      
|Fidelity Securities Lending Cash Central Fund, 0.17% (b)(c)
|TOTAL MONEY MARKET FUNDS
(Cost $3,946,573)                 
|TOTAL INVESTMENT PORTFOLIO - 101.0%
(Cost $204,459,442)    
|NET OTHER ASSETS (LIABILITIES) - (1.0)%                    
|NET ASSETS - 100%                                          

|Legend                                                                                                                                                                                                                                                                                                                                                                                                                                           
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|(a)	Non-income producing                                                                                                                                                                                                                                                                                                                                                                                                                         
|(b)	Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.
|(c)	Investment made with cash collateral received from securities on loan.                                                                                                                                                                                                                                                                                                                                                                       
|(d)	Security or a portion of the security is on loan at period end.                                                                                                                                                                                                                                                                                                                                                                              
|Affiliated Central Funds                                                                                                                                                                                                                                                                                                                                                                                                                         
|Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:                                                                                                                                                                                                                                                                                                                    

|Fund                                          | Income earned
|--------------------------------------------- | -------------
|Fidelity Cash Central Fund                    | $	1,224      
|Fidelity Securities Lending Cash Central Fund | 48,874       
|Total                                         | $	50,098     

|Other Information                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|Categorizations in the Schedule of Investments are based on country or territory of incorporation.                                                                                                                                                                                                                                                                                                                                                                                             
|The following is a summary of the inputs used, as of April 30, 2015, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the tables below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

|Valuation Inputs at Reporting Date:
|-----------------------------------
|Description                        
|Investments in Securities:         
|Equities:                          
|Consumer Discretionary             
|Consumer Staples                   
|Energy                             
|Financials                         
|Health Care                        
|Industrials                        
|Information Technology             
|Materials                          
|Telecommunication Services         
|Utilities                          
|Money Market Funds                 
|Total Investments in Securities:   

|The following is a summary of transfers between Level 1 and Level 2 for the period ended April 30, 2015. Transfers are assumed to have occurred at the beginning of the period, and are primarily attributable to the valuation techniques used for foreign equity securities, as discussed in the accompanying Notes to Financial Statements:
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|Transfers          | Total       
|------------------ | ------------
|Level 1 to Level 2 | $	47,358,875
|Level 2 to Level 1 | 9,596,309   

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

---

# Financial Statements

## Statement of Assets and Liabilities

|                                                                                                                                                     | April 30, 2015 (Unaudited)
|---------------------------------------------------------------------------------------------------------------------------------------------------- | --------------------------
|                                                                                                                                                     |                           
|Assets                                                                                                                                               |                           
|Investment in securities, at value (including securities loaned of $3,153,782) - See accompanying schedule:
Unaffiliated issuers (cost $200,512,869) | $	215,220,357             
|Fidelity Central Funds (cost $3,946,573)                                                                                                             | 3,946,573                 
|Total Investments (cost $204,459,442)                                                                                                                |                           
|Cash                                                                                                                                                 |                           
|Receivable for investments sold                                                                                                                      |                           
|Receivable for fund shares sold                                                                                                                      |                           
|Dividends receivable                                                                                                                                 |                           
|Distributions receivable from Fidelity Central Funds                                                                                                 |                           
|Prepaid expenses                                                                                                                                     |                           
|Other receivables                                                                                                                                    |                           
|Total assets                                                                                                                                         |                           
|                                                                                                                                                     |                           
|Liabilities                                                                                                                                          |                           
|Payable for investments purchased                                                                                                                    | $	857,698                 
|Payable for fund shares redeemed                                                                                                                     | 65,509                    
|Accrued management fee                                                                                                                               | 120,319                   
|Distribution and service plan fees payable                                                                                                           | 6,988                     
|Other affiliated payables                                                                                                                            | 43,396                    
|Other payables and accrued expenses                                                                                                                  | 46,249                    
|Collateral on securities loaned, at value                                                                                                            | 3,307,000                 
|Total liabilities                                                                                                                                    |                           
|                                                                                                                                                     |                           
|Net Assets                                                                                                                                           |                           
|Net Assets consist of:                                                                                                                               |                           
|Paid in capital                                                                                                                                      |                           
|Undistributed net investment income                                                                                                                  |                           
|Accumulated undistributed net realized gain (loss) on investments and foreign currency transactions                                                  |                           
|Net unrealized appreciation (depreciation) on investments and assets and liabilities in foreign currencies                                           |                           
|Net Assets                                                                                                                                           |                           

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

Financial Statements - continued

## Statement of Assets and Liabilities - continued

|                                                                                                                           | April 30, 2015 (Unaudited)
|-------------------------------------------------------------------------------------------------------------------------- | --------------------------
|                                                                                                                           |                           
|Calculation of Maximum Offering Price
Class A:
Net Asset Valueand redemption price per share ($7,681,935 ÷ 877,020 shares) |                           
|                                                                                                                           |                           
|Maximum offering price per share (100/94.25 of $8.76)                                                                      |                           
|Class T:
Net Asset Value and redemption price per share ($3,984,244 ÷ 455,252 shares)                                      |                           
|                                                                                                                           |                           
|Maximum offering price per share (100/96.50 of $8.75)                                                                      |                           
|Class B:
Net Asset Value and offering price per share ($356,264 ÷ 40,189 shares)A                                          |                           
|                                                                                                                           |                           
|Class C:
Net Asset Value and offering price per share ($4,291,579 ÷ 490,524 shares)A                                       |                           
|                                                                                                                           |                           
|International Value:
Net Asset Value, offering price and redemption price per share ($196,167,458 ÷ 22,404,072 shares)     |                           
|                                                                                                                           |                           
|Institutional Class:
Net Asset Value, offering price and redemption price per share ($4,458,723 ÷ 508,877 shares)          |                           

ARedemption price per share is equal to net asset value less any applicable contingent deferred sales charge.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Statement of Operations

|Six months ended April 30, 2015 (Unaudited)                                   
|------------------------------------------------------------------------------
|                                                                              
|Investment Income                                                             
|Dividends                                                                     
|Income from Fidelity Central Funds                                            
|Income before foreign taxes withheld                                          
|Less foreign taxes withheld                                                   
|Total income                                                                  
|                                                                              
|Expenses                                                                      
|Management fee
Basic fee                                                      
|Performance adjustment                                                        
|Transfer agent fees                                                           
|Distribution and service plan fees                                            
|Accounting and security lending fees                                          
|Custodian fees and expenses                                                   
|Independent trustees' compensation                                            
|Registration fees                                                             
|Audit                                                                         
|Legal                                                                         
|Miscellaneous                                                                 
|Total expenses before reductions                                              
|Expense reductions                                                            
|Net investment income (loss)                                                  
|Realized and Unrealized Gain (Loss)
Net realized gain (loss) on:              
|Investment securities:                                                        
|Unaffiliated issuers                                                          
|Foreign currency transactions                                                 
|Total net realized gain (loss)                                                
|Change in net unrealized appreciation (depreciation) on:
Investment securities
|Assets and liabilities in foreign currencies                                  
|Total change in net unrealized appreciation (depreciation)                    
|Net gain (loss)                                                               
|Netincrease (decrease) in net assets resulting from operations                

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

Financial Statements - continued

## Statement of Changes in Net Assets

|                                                                                                                                                | Six months ended April 30, 2015 (Unaudited) | Year ended 
October 31, 
2014
|----------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------------------- | -----------------------------
|Increase (Decrease) in Net Assets                                                                                                               |                                             |                              
|Operations                                                                                                                                      |                                             |                              
|Net investment income (loss)                                                                                                                    | $	2,060,170                                 | $	7,699,402                  
|Net realized gain (loss)                                                                                                                        | (4,478,651)                                 | 12,080,123                   
|Change in net unrealized appreciation (depreciation)                                                                                            | 13,085,069                                  | (23,435,459)                 
|Netincrease (decrease) in net assets resulting from operations                                                                                  | 10,666,588                                  | (3,655,934)                  
|Distributions to shareholders from net investment income                                                                                        | (7,553,931)                                 | (4,160,313)                  
|Distributions to shareholders from net realized gain                                                                                            | -                                           | (301,192)                    
|Total distributions                                                                                                                             | (7,553,931)                                 | (4,461,505)                  
|Share transactions - net increase (decrease)                                                                                                    | 5,766,788                                   | 20,511,129                   
|Redemption fees                                                                                                                                 | 647                                         | 1,150                        
|Total increase (decrease) in net assets                                                                                                         | 8,880,092                                   | 12,394,840                   
|                                                                                                                                                |                                             |                              
|Net Assets                                                                                                                                      |                                             |                              
|Beginning of period                                                                                                                             | 208,060,111                                 | 195,665,271                  
|End of period (including undistributed net investment income of $1,561,185 and undistributed net investment income of $7,054,946, respectively) | $	216,940,203                               | $	208,060,111                

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - Class A

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | Six months ended April 30, 2015 | Years ended October 31,
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------- | -----------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | (Unaudited)                     | 2014                   
|Selected Per-Share Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                                 |                        
|Net asset value, beginning of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | $	8.62                          | $	8.96                 
|Income from Investment Operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |                                 |                        
|Net investment income (loss)E                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | .07                             | .31H                   
|Net realized and unrealized gain (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | .35                             | (.47)                  
|Total from investment operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | .42                             | (.16)                  
|Distributions from net investment income                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | (.28)                           | (.17)                  
|Distributions from net realized gain                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | -                               | (.01)                  
|Total distributions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | (.28)                           | (.18)                  
|Redemption fees added to paid in capitalE, J                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | -                               | -                      
|Net asset value, end of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | $	8.76                          | $	8.62                 
|Total ReturnB, C, D                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | 5.06%                           | (1.76)%                
|Ratios to Average Net AssetsF, I                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                                 |                        
|Expenses before reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | 1.42%A                          | 1.32%                  
|Expenses net of fee waivers, if any                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | 1.42%A                          | 1.32%                  
|Expenses net of all reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | 1.41%A                          | 1.32%                  
|Net investment income (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | 1.67%A                          | 3.44%H                 
|Supplemental Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |                                 |                        
|Net assets, end of period (000 omitted)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | $	7,682                         | $	6,296                
|Portfolio turnover rateG                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | 51%A                            | 69%                    
|AAnnualizedBTotal returns for periods of less than one year are not annualized.CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.DTotal returns do not include the effect of the sales charges.ECalculated based on average shares outstanding during the period.FFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.GAmount does not include the portfolio activity of any underlying Fidelity Central Funds.HInvestment income per share reflects a large, non-recurring dividend which amounted to $.14 per share. Excluding this non-recurring dividend, the ratio of net investment income (loss) to average net assets would have been 1.90%.IExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.JAmount represents less than $.01 per share.KTotal distributions of $.23 per share is comprised of distributions from net investment income of $.191 and distributions from net realized gain of $.034 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - Class T

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | Six months ended April 30, 2015 | Years ended October 31,
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------- | -----------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | (Unaudited)                     | 2014                   
|Selected Per-Share Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                                 |                        
|Net asset value, beginning of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | $	8.60                          | $	8.94                 
|Income from Investment Operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |                                 |                        
|Net investment income (loss)E                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | .06                             | .28H                   
|Net realized and unrealized gain (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | .35                             | (.46)                  
|Total from investment operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | .41                             | (.18)                  
|Distributions from net investment income                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | (.26)                           | (.15)                  
|Distributions from net realized gain                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | -                               | (.01)                  
|Total distributions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | (.26)                           | (.16)                  
|Redemption fees added to paid in capitalE, J                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | -                               | -                      
|Net asset value, end of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | $	8.75                          | $	8.60                 
|Total ReturnB, C, D                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | 4.91%                           | (1.99)%                
|Ratios to Average Net AssetsF, I                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                                 |                        
|Expenses before reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | 1.69%A                          | 1.59%                  
|Expenses net of fee waivers, if any                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | 1.69%A                          | 1.59%                  
|Expenses net of all reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | 1.69%A                          | 1.59%                  
|Net investment income (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | 1.39%A                          | 3.17%H                 
|Supplemental Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |                                 |                        
|Net assets, end of period (000 omitted)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | $	3,984                         | $	3,604                
|Portfolio turnover rateG                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | 51%A                            | 69%                    
|AAnnualizedBTotal returns for periods of less than one year are not annualized.CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.DTotal returns do not include the effect of the sales charges.ECalculated based on average shares outstanding during the period.FFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.GAmount does not include the portfolio activity of any underlying Fidelity Central Funds.HInvestment income per share reflects a large, non-recurring dividend which amounted to $.14 per share. Excluding this non-recurring dividend, the ratio of net investment income (loss) to average net assets would have been 1.64%.IExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.JAmount represents less than $.01 per share.KTotal distributions of $.21 per share is comprised of distributions from net investment income of $.173 and distributions from net realized gain of $.034 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - Class B

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | Six months ended April 30, 2015 | Years ended October 31,
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------- | -----------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | (Unaudited)                     | 2014                   
|Selected Per-Share Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |                                 |                        
|Net asset value, beginning of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | $	8.66                          | $	8.98                 
|Income from Investment Operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |                                 |                        
|Net investment income (loss)E                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | .04                             | .24H                   
|Net realized and unrealized gain (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | .34                             | (.45)                  
|Total from investment operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | .38                             | (.21)                  
|Distributions from net investment income                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | (.18)                           | (.09)                  
|Distributions from net realized gain                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | -                               | (.01)                  
|Total distributions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | (.18)                           | (.11)L                 
|Redemption fees added to paid in capitalE, J                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | -                               | -                      
|Net asset value, end of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | $	8.86                          | $	8.66                 
|Total ReturnB, C, D                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | 4.49%                           | (2.39)%                
|Ratios to Average Net AssetsF, I                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |                                 |                        
|Expenses before reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | 2.18%A                          | 2.08%                  
|Expenses net of fee waivers, if any                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | 2.18%A                          | 2.08%                  
|Expenses net of all reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | 2.17%A                          | 2.08%                  
|Net investment income (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | .91%A                           | 2.68%H                 
|Supplemental Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |                                 |                        
|Net assets, end of period (000 omitted)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | $	356                           | $	414                  
|Portfolio turnover rateG                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | 51%A                            | 69%                    
|AAnnualizedBTotal returns for periods of less than one year are not annualized.CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.DTotal returns do not include the effect of the contingent deferred sales charge.ECalculated based on average shares outstanding during the period.FFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.GAmount does not include the portfolio activity of any underlying Fidelity Central Funds.HInvestment income per share reflects a large, non-recurring dividend which amounted to $.14 per share. Excluding this non-recurring dividend, the ratio of net investment income (loss) to average net assets would have been 1.15%.IExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.JAmount represents less than $.01 per share.KTotal distributions of $.17 per share is comprised of distributions from net investment income of $.131 and distributions from net realized gain of $.034 per share.LTotal distributions of $.11 per share is comprised of distributions from net investment income of $.093 and distributions from net realized gain of $.014 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - Class C

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | Six months ended April 30, 2015 | Years ended October 31,
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ------------------------------- | -----------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | (Unaudited)                     | 2014                   
|Selected Per-Share Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                                 |                        
|Net asset value, beginning of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | $	8.59                          | $	8.93                 
|Income from Investment Operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |                                 |                        
|Net investment income (loss)E                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | .04                             | .24H                   
|Net realized and unrealized gain (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | .35                             | (.45)                  
|Total from investment operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | .39                             | (.21)                  
|Distributions from net investment income                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | (.23)                           | (.11)                  
|Distributions from net realized gain                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | -                               | (.01)                  
|Total distributions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | (.23)                           | (.13)K                 
|Redemption fees added to paid in capitalE, J                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | -                               | -                      
|Net asset value, end of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | $	8.75                          | $	8.59                 
|Total ReturnB, C, D                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | 4.63%                           | (2.43)%                
|Ratios to Average Net AssetsF, I                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |                                 |                        
|Expenses before reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | 2.18%A                          | 2.07%                  
|Expenses net of fee waivers, if any                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | 2.18%A                          | 2.07%                  
|Expenses net of all reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | 2.17%A                          | 2.07%                  
|Net investment income (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | .91%A                           | 2.69%H                 
|Supplemental Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |                                 |                        
|Net assets, end of period (000 omitted)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | $	4,292                         | $	3,647                
|Portfolio turnover rateG                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | 51%A                            | 69%                    
|AAnnualizedBTotal returns for periods of less than one year are not annualized.CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.DTotal returns do not include the effect of the contingent deferred sales charge.ECalculated based on average shares outstanding during the period.FFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.GAmount does not include the portfolio activity of any underlying Fidelity Central Funds.HInvestment income per share reflects a large, non-recurring dividend which amounted to $.14 per share. Excluding this non-recurring dividend, the ratio of net investment income (loss) to average net assets would have been 1.15%.IExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.JAmount represents less than $.01 per share.KTotal distributions of $.13 per share is comprised of distributions from net investment income of $.111 and distributions from net realized gain of $.014 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - International Value

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | Six months ended April 30, 2015 | Years ended October 31,
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ------------------------------- | -----------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | (Unaudited)                     | 2014                   
|Selected Per-Share Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                                 |                        
|Net asset value, beginning of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | $	8.64                          | $	8.97                 
|Income from Investment Operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                                 |                        
|Net investment income (loss)D                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | .09                             | .34G                   
|Net realized and unrealized gain (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | .35                             | (.46)                  
|Total from investment operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | .44                             | (.12)                  
|Distributions from net investment income                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | (.32)                           | (.20)                  
|Distributions from net realized gain                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | -                               | (.01)                  
|Total distributions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | (.32)                           | (.21)                  
|Redemption fees added to paid in capitalD, I                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | -                               | -                      
|Net asset value, end of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | $	8.76                          | $	8.64                 
|Total ReturnB, C                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | 5.24%                           | (1.34)%                
|Ratios to Average Net AssetsE, H                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |                                 |                        
|Expenses before reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | 1.06%A                          | .96%                   
|Expenses net of fee waivers, if any                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | 1.06%A                          | .96%                   
|Expenses net of all reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | 1.06%A                          | .95%                   
|Net investment income (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | 2.02%A                          | 3.80%G                 
|Supplemental Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                                 |                        
|Net assets, end of period (000 omitted)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $	196,167                       | $	192,789              
|Portfolio turnover rateF                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | 51%A                            | 69%                    
|AAnnualizedBTotal returns for periods of less than one year are not annualized.CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.DCalculated based on average shares outstanding during the period.EFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.FAmount does not include the portfolio activity of any underlying Fidelity Central Funds.GInvestment income per share reflects a large, non-recurring dividend which amounted to $.14 per share. Excluding this non-recurring dividend, the ratio of net investment income (loss) to average net assets would have been 2.27%.HExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.IAmount represents less than $.01 per share.JTotal distributions of $.13 per share is comprised of distributions from net investment income of $.129 and distributions from net realized gain of $.005 per share.KTotal distributions of $.27 per share is comprised of distributions from net investment income of $.223 and distributions from net realized gain of $.042 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - Institutional Class

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | Six months ended April 30, 2015 | Years ended October 31,
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------- | -----------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | (Unaudited)                     | 2014                   
|Selected Per-Share Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |                                 |                        
|Net asset value, beginning of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | $	8.65                          | $	8.98                 
|Income from Investment Operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |                                 |                        
|Net investment income (loss)D                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | .08                             | .33G                   
|Net realized and unrealized gain (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | .35                             | (.45)                  
|Total from investment operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | .43                             | (.12)                  
|Distributions from net investment income                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | (.32)                           | (.19)                  
|Distributions from net realized gain                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | -                               | (.01)                  
|Total distributions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | (.32)                           | (.21)L                 
|Redemption fees added to paid in capitalD, I                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | -                               | -                      
|Net asset value, end of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $	8.76                          | $	8.65                 
|Total ReturnB, C                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | 5.11%                           | (1.41)%                
|Ratios to Average Net AssetsE, H                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                                 |                        
|Expenses before reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | 1.17%A                          | 1.05%                  
|Expenses net of fee waivers, if any                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | 1.17%A                          | 1.05%                  
|Expenses net of all reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | 1.17%A                          | 1.04%                  
|Net investment income (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | 1.92%A                          | 3.71%G                 
|Supplemental Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |                                 |                        
|Net assets, end of period (000 omitted)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | $	4,459                         | $	1,310                
|Portfolio turnover rateF                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | 51%A                            | 69%                    
|AAnnualizedBTotal returns for periods of less than one year are not annualized.CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.DCalculated based on average shares outstanding during the period.EFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.FAmount does not include the portfolio activity of any underlying Fidelity Central Funds.GInvestment income per share reflects a large, non-recurring dividend which amounted to $.14 per share. Excluding this non-recurring dividend, the ratio of net investment income (loss) to average net assets would have been 2.18%.HExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.IAmount represents less than $.01 per share.JTotal distributions of $.14 per share is comprised of distributions from net investment income of $.137 and distributions from net realized gain of $.005 per share.KTotal distributions of $.26 per share is comprised of distributions from net investment income of $.221 and distributions from net realized gain of $.034 per share.LTotal distributions of $.21 per share is comprised of distributions from net investment income of $.191 and distributions from net realized gain of $.014 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

---

# Notes to Financial Statements

For the period ended April 30, 2015 (Unaudited)

1. Organization.

Fidelity® International Value Fund (the Fund) is a fund of Fidelity Investment Trust (the Trust) and is authorized to issue an unlimited number of shares. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Massachusetts business trust. The Fund offers Class A, Class T, Class C, International Value and Institutional Class shares, each of which, along with Class B shares, has equal rights as to assets and voting privileges. Class B shares are closed to new accounts and additional purchases, except for exchanges and reinvestments. Each class has exclusive voting rights with respect to matters that affect that class. Class B shares will automatically convert to Class A shares after a holding period of seven years from the initial date of purchase.

2. Investments in Fidelity Central Funds.

The Fund invests in Fidelity Central Funds, which are open-end investment companies generally available only to other investment companies and accounts managed by the investment adviser and its affiliates. The Fund's Schedule of Investments lists each of the Fidelity Central Funds held as of period end, if any, as an investment of the Fund, but does not include the underlying holdings of each Fidelity Central Fund. As an Investing Fund, the Fund indirectly bears its proportionate share of the expenses of the underlying Fidelity Central Funds.

The Money Market Central Funds seek preservation of capital and current income and are managed by Fidelity Investments Money Management, Inc. (FIMM), an affiliate of the investment adviser. Annualized expenses of the Money Market Central Funds as of their most recent shareholder report date are less than .01%.

A complete unaudited list of holdings for each Fidelity Central Fund is available upon request or at the Securities and Exchange Commission (the SEC) website at www.sec.gov. In addition, the financial statements of the Fidelity Central Funds are available on the SEC website or upon request.

3. Significant Accounting Policies.

The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP), which require management to make certain estimates and assumptions at the date of the financial statements. Actual results could differ from those estimates. Subsequent events, if any, through the date that the financial statements were issued have been evaluated in the preparation of

Semiannual Report

Notes to Financial Statements (Unaudited) - continued

3. Significant Accounting Policies - continued

the financial statements. The following summarizes the significant accounting policies of the Fund:

Investment Valuation.Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. The Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fidelity Management & Research Company (FMR) Fair Value Committee (the Committee). In accordance with valuation policies and procedures approved by the Board, the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund's valuation policies and procedures and reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee.

The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels as shown below:

Level 1 - quoted prices in active markets for identical investments

Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, etc.)

Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available)

Valuation techniques used to value the Fund's investments by major category are as follows:

Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing vendor on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. Utilizing these techniques may result in transfers between Level 1 and Level 2.

Semiannual Report

3. Significant Accounting Policies - continued

Investment Valuation - continued

For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy.

Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy.

Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. The aggregate value of investments by input level, as of April 30, 2015, including information on transfers between Levels 1 and 2, is included at the end of the Fund's Schedule of Investments.

Foreign Currency.The Fund may use foreign currency contracts to facilitate transactions in foreign-denominated securities. Gains and losses from these transactions may arise from changes in the value of the foreign currency or if the counterparties do not perform under the contracts' terms.

Foreign-denominated assets, including investment securities, and liabilities are translated into U.S. dollars at the exchange rates at period end. Purchases and sales of investment securities, income and dividends received and expenses denominated in foreign currencies are translated into U.S. dollars at the exchange rate in effect on the transaction date.

The effects of exchange rate fluctuations on investments are included with the net realized and unrealized gain (loss) on investment securities. Other foreign currency transactions resulting in realized and unrealized gain (loss) are disclosed separately.

Investment Transactions and Income.For financial reporting purposes, the Fund's investment holdings and NAV include trades executed through the end of the last business day of the period. The NAV per share for processing shareholder transactions is calculated as of the close of business of the New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time and includes trades executed through the end of the prior business day. Gains and losses on securities sold are determined on the basis of identified cost. Dividend income is recorded on the ex-dividend date, except for certain dividends from foreign securities where the ex-dividend date may have passed, which are recorded as soon as the Fund is informed of the ex-dividend date. Non-cash dividends included in dividend income, if any, are recorded at the fair market value of the securities received. Income and capital gain distributions from Fidelity Central Funds, if any, are recorded on the ex-dividend date. Distributions received on securities that represent a return of

Semiannual Report

Notes to Financial Statements (Unaudited) - continued

3. Significant Accounting Policies - continued

Investment Transactions and Income - continued

capital or capital gain are recorded as a reduction of cost of investments and/or as a realized gain. Subsequent to ex-dividend date the Fund determines the components of these distributions, based upon receipt of tax filings or other correspondence relating to the underlying investment. Investment income is recorded net of foreign taxes withheld where recovery of such taxes is uncertain.

Class Allocations andExpenses. Investment income, realized and unrealized capital gains and losses, common expenses of the Fund, and certain fund-level expense reductions, if any, are allocated daily on a pro-rata basis to each class based on the relative net assets of each class to the total net assets of the Fund. Each class differs with respect to transfer agent and distribution and service plan fees incurred. Certain expense reductions may also differ by class. For the reporting period, the allocated portion of income and expenses to each class as a percent of its average net assets may vary due to the timing of recording these transactions in relation to fluctuating net assets of the classes. Expenses directly attributable to a fund are charged to that fund. Expenses attributable to more than one fund are allocated among the respective funds on the basis of relative net assets or other appropriate methods. Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.

Income Tax Information and Distributions to Shareholders. Each year, the Fund intends to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code, including distributing substantially all of its taxable income and realized gains. As a result, no provision for U.S. Federal income taxes is required. The Fund files a U.S. federal tax return, in addition to state and local tax returns as required. The Fund's federal income tax returns are subject to examination by the Internal Revenue Service (IRS) for a period of three fiscal years after they are filed. State and local tax returns may be subject to examination for an additional fiscal year depending on the jurisdiction. Foreign taxes are provided for based on the Fund's understanding of the tax rules and rates that exist in the foreign markets in which it invests.

Distributions are declared and recorded on the ex-dividend date. Income dividends and capital gain distributions are declared separately for each class. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP.

Capital accounts within the financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations. Capital accounts are not adjusted for temporary book-tax differences which will reverse in a subsequent period.

Semiannual Report

3. Significant Accounting Policies - continued

Income Tax Information and Distributions to Shareholders - continued

Book-tax differences are primarily due to foreign currency transactions, passive foreign investment companies (PFIC), capital loss carryforwards and losses deferred due to wash sales.

The federal tax cost of investment securities and unrealized appreciation (depreciation) as of period end were as follows:

|Gross unrealized appreciation                            | $	23,354,025 
|-------------------------------------------------------- | -------------
|Gross unrealized depreciation                            | (9,016,625)  
|Net unrealized appreciation (depreciation) on securities | $	14,337,400 
|                                                         |              
|Tax cost                                                 | $	204,829,530

Capital loss carryforwards are only available to offset future capital gains of the Fund to the extent provided by regulations and may be limited. Under the Regulated Investment Company Modernization Act of 2010 (the Act), the Fund is permitted to carry forward capital losses incurred in taxable years beginning after December 22, 2010 for an unlimited period and such capital losses are required to be used prior to any losses that expire. The capital loss carryforward information presented below, including any applicable limitation, is estimated as of prior fiscal period end and is subject to adjustment.

|Fiscal year of expiration       |                
|------------------------------- | ---------------
|2016                            | $	(2,663,413)  
|2017                            | (65,376,972)   
|2018                            | (3,571,319)    
|2019                            | (31,368,797)   
|Total capital loss carryforward | $	(102,980,501)

Short-Term Trading (Redemption) Fees. Shares held by investors in the Fund less than 30 days may have been subject to a redemption fee equal to 1.00% of the NAV of shares redeemed. All redemption fees, which reduce the proceeds of the shareholder redemption, are retained by the Fund and accounted for as an addition to paid in capital.

New Accounting Pronouncement.In June 2014, the Financial Accounting Standards Board issued Accounting Standard Update No. 2014-11, Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures (the Update). The Update amends the accounting for certain repurchase agreements and expands disclosure requirements for reverse repurchase agreements, securities lending and other similar transactions. The disclosure requirements are effective for annual and interim reporting periods beginning after December 15, 2014. Management is currently evaluating the impact of the Update on the Fund's financial statements and related disclosures.

Semiannual Report

Notes to Financial Statements (Unaudited) - continued

4. Purchases and Sales of Investments.

Purchases and sales of securities, other than short-term securities, aggregated $53,883,205 and $53,026,265, respectively.

5. Fees and Other Transactions with Affiliates.

Management Fee. Fidelity Management & Research Company (the investment adviser) and its affiliates provide the Fund with investment management related services for which the Fund pays a monthly management fee. The management fee is the sum of an individual fund fee rate that is based on an annual rate of .45% of the Fund's average net assets and an annualized group fee rate that averaged .25% during the period. The group fee rate is based upon the average net assets of all the mutual funds advised by the investment adviser, including any mutual funds previously advised by the investment adviser that are currently advised by Fidelity SelectCo, LLC, an affiliate of the investment adviser. The group fee rate decreases as assets under management increase and increases as assets under management decrease. In addition, the management fee is subject to a performance adjustment (up to a maximum of ± .20% of the Fund's average net assets over a 36 month performance period). The upward or downward adjustment to the management fee is based on the relative investment performance of International Value as compared to its benchmark index, the MSCI EAFE Value Index, over the same 36 month performance period. For the reporting period, the total annualized management fee rate, including the performance adjustment, was .70% of the Fund's average net assets. The performance adjustment included in the management fee rate may be higher or lower than the maximum performance adjustment rate due to the difference between the average net assets for the reporting and performance periods.

Distribution and Service Plan Fees. In accordance with Rule 12b-1 of the 1940 Act, the Fund has adopted separate Distribution and Service Plans for each class of shares. Certain classes pay Fidelity Distributors Corporation (FDC), an affiliate of the investment adviser, separate Distribution and Service Fees, each of which is based on an annual percentage of each class' average net assets. In addition, FDC may pay financial intermediaries for selling shares of the Fund and providing shareholder support services. For the period, the Distribution and Service Fee rates, total fees and amounts retained by FDC were as follows:

|        | Distribution
Fee | Service
Fee | Total Fees | Retained
by FDC
|------- | ---------------- | ----------- | ---------- | ---------------
|Class A | -%               | .25%        | $	8,065    | $	435          
|Class T | .25%             | .25%        | 9,249      | 121            
|Class B | .75%             | .25%        | 1,883      | 1,417          
|Class C | .75%             | .25%        | 18,991     | 3,431          
|        |                  |             | $	38,188   | $	5,404        

Semiannual Report

5. Fees and Other Transactions with Affiliates - continued

Sales Load. FDC may receive a front-end sales charge of up to 5.75% for selling Class A shares and 3.50% for selling Class T shares, some of which is paid to financial intermediaries for selling shares of the Fund. Depending on the holding period, FDC may receive contingent deferred sales charges levied on Class A, Class T, Class B, and Class C redemptions. The deferred sales charges range from 5.00% to 1.00% for Class B shares, 1.00% for Class C shares, 1.00% for certain purchases of Class A shares and .25% for certain purchases of Class T shares.

For the period, sales charge amounts retained by FDC were as follows:

|         | Retained
by FDC
|-------- | ---------------
|Class A  | $	3,849        
|Class T  | 704            
|Class B* | 97             
|Class C* | 439            
|         | $	5,089        

*	When Class B and Class C shares are initially sold, FDC pays commissions from its own resources to financial intermediaries through which the sales 	are made.

Transfer Agent Fees.Fidelity Investments Institutional Operations Company, Inc., (FIIOC), an affiliate of the investment adviser, is the transfer, dividend disbursing and shareholder servicing agent for each class of the Fund. FIIOC receives account fees and asset-based fees that vary according to the account size and type of account of the shareholders of the respective classes of the Fund. FIIOC pays for typesetting, printing and mailing of shareholder reports, except proxy statements.

For the period, transfer agent fees for each class were as follows:

|                    | Amount    | % of
Class-Level Average
Net Assets*
|------------------- | --------- | ------------------------------------
|Class A             | $	9,221   | .29                                 
|Class T             | 5,733     | .31                                 
|Class B             | 552       | .29                                 
|Class C             | 5,616     | .30                                 
|International Value | 173,464   | .18                                 
|Institutional Class | 3,593     | .29                                 
|                    | $	198,179 |                                     

*Annualized

Semiannual Report

Notes to Financial Statements (Unaudited) - continued

5. Fees and Other Transactions with Affiliates - continued

Accounting and Security Lending Fees.Fidelity Service Company, Inc. (FSC), an affiliate of the investment adviser, maintains the Fund's accounting records. The accounting fee is based on the level of average net assets for each month. Under a separate contract, FSC administers the security lending program. The security lending fee is based on the number and duration of lending transactions.

Brokerage Commissions.The Fund placed a portion of its portfolio transactions with brokerage firms which are affiliates of the investment adviser. Brokerage commissions are included in net realized gain (loss) and change in net unrealized appreciation (depreciation) in the Statement of Operations. The commissions paid to these affiliated firms were $104 for the period.

6. Committed Line of Credit.

The Fund participates with other funds managed by the investment adviser or an affiliate in a $4.25 billion credit facility (the "line of credit") to be utilized for temporary or emergency purposes to fund shareholder redemptions or for other short-term liquidity purposes. The Fund has agreed to pay commitment fees on its pro-rata portion of the line of credit, which amounted to $163 and is reflected in Miscellaneous expenses on the Statement of Operations. During the period, the Fund did not borrow on this line of credit.

7. Security Lending.

The Fund lends portfolio securities through a lending agent from time to time in order to earn additional income. For equity securities, a lending agent is used and may loan securities to certain qualified borrowers, including Fidelity Capital Markets (FCM), a broker-dealer affiliated with the Fund. On the settlement date of the loan, the Fund receives collateral (in the form of U.S. Treasury obligations, letters of credit and/or cash) against the loaned securities and maintains collateral in an amount not less than 100% of the market value of the loaned securities during the period of the loan. The market value of the loaned securities is determined at the close of business of the Fund and any additional required collateral is delivered to the Fund on the next business day. If the borrower defaults on its obligation to return the securities loaned because of insolvency or other reasons, the Fund may apply collateral received from the borrower against the obligation. The Fund may experience delays and costs in recovering the securities loaned. Any cash collateral received is invested in the Fidelity Securities Lending Cash Central Fund. The value of loaned securities and cash collateral at period end are disclosed on the Fund's Statement of Assets and Liabilities. Security lending income represents the income earned on investing cash collateral, less rebates paid to borrowers

Semiannual Report

7. Security Lending - continued

and any lending agent fees associated with the loan, plus any premium payments received for lending certain types of securities. Security lending income is presented in the Statement of Operations as a component of income from Fidelity Central Funds. Total security lending income during the period amounted to $48,874. During the period, there were no securities loaned to FCM.

8. Expense Reductions.

Commissions paid to certain brokers with whom the investment adviser, or its affiliates, places trades on behalf of the Fund include an amount in addition to trade execution, which may be rebated back to the Fund to offset certain expenses. This amount totaled $6,026 for the period.

In addition, the investment adviser reimbursed a portion of the Fund's operating expenses, including certain International Value expenses during the period in the amount of $278.

9. Distributions to Shareholders.

Distributions to shareholders of each class were as follows:

|                           | Six months ended 
April 30, 
2015 | Year ended 
October 31, 
2014
|-------------------------- | --------------------------------- | -----------------------------
|From net investment income |                                   |                              
|Class A                    | $	204,314                         | $	117,558                    
|Class T                    | 109,443                           | 63,542                       
|Class B                    | 8,373                             | 6,919                        
|Class C                    | 99,311                            | 40,539                       
|International Value        | 7,079,700                         | 3,926,459                    
|Institutional Class        | 52,790                            | 5,296                        
|Total                      | $	7,553,931                       | $	4,160,313                  
|From net realized gain     |                                   |                              
|Class A                    | $	-                               | $	9,681                      
|Class T                    | -                                 | 5,931                        
|Class B                    | -                                 | 1,042                        
|Class C                    | -                                 | 5,113                        
|International Value        | -                                 | 279,037                      
|Institutional Class        | -                                 | 388                          
|Total                      | $	-                               | $	301,192                    

Semiannual Report

Notes to Financial Statements (Unaudited) - continued

10. Share Transactions.

Share transactions for each class were as follows and may contain automatic conversions between classes or exchanges between funds:

|                              | Shares                           | Dollars                      
|----------------------------- | -------------------------------- | -----------------------------
|                              | Six months ended April 30, 
2015 | Year ended 
October 31, 
2014
|Class A                       |                                  |                              
|Shares sold                   | 263,322                          | 271,659                      
|Reinvestment of distributions | 23,604                           | 12,904                       
|Shares redeemed               | (139,987)                        | (245,285)                    
|Net increase (decrease)       | 146,939                          | 39,278                       
|Class T                       |                                  |                              
|Shares sold                   | 53,273                           | 79,778                       
|Reinvestment of distributions | 12,981                           | 7,900                        
|Shares redeemed               | (29,899)                         | (88,989)                     
|Net increase (decrease)       | 36,355                           | (1,311)                      
|Class B                       |                                  |                              
|Shares sold                   | 2,258                            | 1,662                        
|Reinvestment of distributions | 891                              | 756                          
|Shares redeemed               | (10,799)                         | (30,069)                     
|Net increase (decrease)       | (7,650)                          | (27,651)                     
|Class C                       |                                  |                              
|Shares sold                   | 93,384                           | 107,427                      
|Reinvestment of distributions | 10,999                           | 4,784                        
|Shares redeemed               | (38,322)                         | (49,408)                     
|Net increase (decrease)       | 66,061                           | 62,803                       
|International Value           |                                  |                              
|Shares sold                   | 1,378,533                        | 5,177,049                    
|Reinvestment of distributions | 823,202                          | 470,965                      
|Shares redeemed               | (2,110,868)                      | (3,570,903)                  
|Net increase (decrease)       | 90,867                           | 2,077,111                    
|Institutional Class           |                                  |                              
|Shares sold                   | 381,429                          | 140,760                      
|Reinvestment of distributions | 5,275                            | 394                          
|Shares redeemed               | (29,270)                         | (16,367)                     
|Net increase (decrease)       | 357,434                          | 124,787                      

Semiannual Report

11. Other.

The Fund's organizational documents provide former and current trustees and officers with a limited indemnification against liabilities arising in connection with the performance of their duties to the Fund. In the normal course of business, the Fund may also enter into contracts that provide general indemnifications. The Fund's maximum exposure under these arrangements is unknown as this would be dependent on future claims that may be made against the Fund. The risk of material loss from such claims is considered remote.

At the end of the period, Strategic Advisers International II Fund, was the owner of record of approximately 36% of the total outstanding shares of the Fund. Mutual funds managed by the investment adviser or its affiliates were the owners of record, in the aggregate, of approximately 49% of the total outstanding shares of the Fund.

Semiannual Report

Investment Adviser

Fidelity Management & Research Company
Boston, MA

Investment Sub-Advisers

FMR Co., Inc.

FMR Investment Management
(U.K.) Limited

Fidelity Management & Research
(Hong Kong) Limited

Fidelity Management & Research
(Japan) Limited

FIL Investment Advisors

FIL Investment Advisors (U.K.) Limited

FIL Investments (Japan) Limited

General Distributor

Fidelity Distributors Corporation

Smithfield, RI

Transfer and Service Agents

Fidelity Investments Institutional Operations Company, Inc.

Boston, MA

Fidelity Service Company, Inc.

Boston, MA

Custodian

The Northern Trust Company

Chicago, IL



(Fidelity Investment logo)(registered trademark)

`AFIV-USAN-0615
1.827499.108`

(Fidelity Investment logo)(registered trademark)Fidelity Advisor®

International Value

Fund - Institutional Class

Semiannual Report

April 30, 2015(Fidelity Cover Art)

Institutional Class is
a class of Fidelity®
International Value Fund

---

# Contents

|Shareholder Expense Example | (Click Here) | An example of shareholder expenses.                                                                          
|--------------------------- | ------------ | -------------------------------------------------------------------------------------------------------------
|Investment Changes          | (Click Here) | A summary of major shifts in the fund's investments over the past six months.                                
|Investments                 | (Click Here) | A complete list of the fund's investments with their market values.                                          
|Financial Statements        | (Click Here) | Statements of assets and liabilities, operations, and changes in net assets, as well as financial highlights.
|Notes                       | (Click Here) | Notes to financial statements.                                                                               

To view a fund's proxy voting guidelines and proxy voting record for the 12-month period ended June 30, visit http://www.fidelity.com/proxyvotingresults or visit the Securities and Exchange Commission's (SEC) web site at http://www.sec.gov. You may also call 1-877-208-0098 to request a free copy of the proxy voting guidelines.

Standard & Poor's, S&P and S&P 500 are registered service marks of The McGraw-Hill Companies, Inc. and have been licensed for use by Fidelity Distributors Corporation.

Other third-party marks appearing herein are the property of their respective owners.

All other marks appearing herein are registered or unregistered trademarks or service marks of FMR LLC or an affiliated company. © 2015 FMR LLC. All rights reserved.

This report and the financial statements contained herein are submitted for the general information of the shareholders of the fund. This report is not authorized for distribution to prospective investors in the fund unless preceded or accompanied by an effective prospectus.

A fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-Q. Forms N-Q are available on the SEC's web site at http://www.sec.gov.A fund's Forms N-Q may be reviewed and copied at the SEC's Public Reference Room in Washington, DC. Information regarding the operation of the SEC's Public Reference Room may be obtained by calling 1-800-SEC-0330. For a complete list of a fund's portfolio holdings, view the most recent holdings listing, semiannual report, or annual report on Fidelity's web site at http://www.fidelity.com, http://www.advisor.fidelity.com, or http://www.401k.com, as applicable.

NOT FDIC INSURED • MAY LOSE VALUE • NO BANK GUARANTEE

Neither the fund nor Fidelity Distributors Corporation is a bank.

Semiannual Report

---

# Shareholder Expense Example

As a shareholder of the Fund, you incur two types of costs: (1) transaction costs, including sales charges (loads) on purchase payments or redemption proceeds, redemption fees and (2) ongoing costs, including management fees, distribution and/or service (12b-1) fees and other Fund expenses. This Example is intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds.

The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (November 1, 2014 to April 30, 2015).

Actual Expenses

The first line of the accompanying table for each class of the Fund provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000.00 (for example, an $8,600 account value divided by $1,000.00 = 8.6), then multiply the result by the number in the first line for a class of the Fund under the heading entitled "Expenses Paid During Period" to estimate the expenses you paid on your account during this period. A small balance maintenance fee of $12.00 that is charged once a year may apply for certain accounts with a value of less than $2,000. This fee is not included in the table below. If it was, the estimate of expenses you paid during the period would be higher, and your ending account value lower, by this amount. In addition, the Fund, as a shareholder in the underlying Fidelity Central Funds, will indirectly bear its pro-rata share of the fees and expenses incurred by the underlying Fidelity Central Funds. These fees and expenses are not included in the Fund's annualized expense ratio used to calculate the expense estimate in the table below.

Hypothetical Example for Comparison Purposes

The second line of the accompanying table for each class of the Fund provides information about hypothetical account values and hypothetical expenses based on a Class' actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Class' actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds. A small balance maintenance fee of $12.00 that is charged once a year may apply for certain accounts with a value of less than $2,000. This fee is not included in the table below. If it was, the estimate of expenses you paid during the period would be higher, and your ending account value lower, by this amount. In addition, the Fund, as a shareholder in the underlying Fidelity Central Funds, will indirectly bear its pro-rata share of the fees and expenses incurred by the underlying Fidelity Central Funds. These fees and expenses are not included in the Fund's annualized expense ratio used to calculate the expense estimate in the table below.

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transaction costs. Therefore, the second line of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.

Semiannual Report

Shareholder Expense Example - continued

|                    | Annualized 
Expense RatioB | Beginning
Account Value
November 1, 2014 | Ending
Account Value
April 30, 2015 | Expenses Paid
During Period*November 1, 2014 to April 30, 2015
|------------------- | -------------------------- | ---------------------------------------- | ----------------------------------- | --------------------------------------------------------------
|Class A             | 1.42%                      |                                          |                                     |                                                               
|Actual              |                            | $	1,000.00                               | $	1,050.60                          | $	7.22                                                        
|HypotheticalA       |                            | $	1,000.00                               | $	1,017.75                          | $	7.10                                                        
|Class T             | 1.69%                      |                                          |                                     |                                                               
|Actual              |                            | $	1,000.00                               | $	1,049.10                          | $	8.59                                                        
|HypotheticalA       |                            | $	1,000.00                               | $	1,016.41                          | $	8.45                                                        
|Class B             | 2.18%                      |                                          |                                     |                                                               
|Actual              |                            | $	1,000.00                               | $	1,044.90                          | $	11.05                                                       
|HypotheticalA       |                            | $	1,000.00                               | $	1,013.98                          | $	10.89                                                       
|Class C             | 2.18%                      |                                          |                                     |                                                               
|Actual              |                            | $	1,000.00                               | $	1,046.30                          | $	11.06                                                       
|HypotheticalA       |                            | $	1,000.00                               | $	1,013.98                          | $	10.89                                                       
|International Value | 1.06%                      |                                          |                                     |                                                               
|Actual              |                            | $	1,000.00                               | $	1,052.40                          | $	5.39                                                        
|HypotheticalA       |                            | $	1,000.00                               | $	1,019.54                          | $	5.31                                                        
|Institutional Class | 1.17%                      |                                          |                                     |                                                               
|Actual              |                            | $	1,000.00                               | $	1,051.10                          | $	5.95                                                        
|HypotheticalA       |                            | $	1,000.00                               | $	1,018.99                          | $	5.86                                                        

A5% return per year before expenses

BAnnualized expense ratio reflects expenses net of applicable fee waivers.

*Expenses are equal to each Class' annualized expense ratio, multiplied by the average account value over the period, multiplied by 181/365 (to reflect the one-half year period).

Semiannual Report

---

# Investment Changes (Unaudited)

|Geographic Diversification (% of fund's net assets)
|---------------------------------------------------
|As of April 30, 2015                               
|int848                                             
|int850                                             
|int852                                             
|int854                                             
|int856                                             
|int858                                             
|int860                                             
|int862                                             
|int864                                             
|int866                                             

int868

|*Includes short-term investments and net other assets (liabilities)                                                                
|-----------------------------------------------------------------------------------------------------------------------------------
|Percentages are based on country or territory of incorporation and are adjusted for the effect of futures contracts, if applicable.

|As of October 31, 2014
|----------------------
|int870                
|int872                
|int874                
|int876                
|int878                
|int880                
|int882                
|int884                
|int886                
|int888                

int890

|*Includes short-term investments and net other assets (liabilities)                                                                
|-----------------------------------------------------------------------------------------------------------------------------------
|Percentages are based on country or territory of incorporation and are adjusted for the effect of futures contracts, if applicable.

|Asset Allocation as of April 30, 2015                                                 
|--------------------------------------------------------------------------------------
|                                                                                      
|Stocks                                                                                
|Short-Term Investments and Net Other Assets (Liabilities)                             
|Top Ten Stocks as of April 30, 2015                                                   
|                                                                                      
|Total SA (France, Oil, Gas & Consumable Fuels)                                        
|BP PLC sponsored ADR (United Kingdom, Oil, Gas & Consumable Fuels)                    
|Toyota Motor Corp. (Japan, Automobiles)                                               
|Mitsubishi UFJ Financial Group, Inc. (Japan, Banks)                                   
|Sanofi SA (France, Pharmaceuticals)                                                   
|HSBC Holdings PLC sponsored ADR (United Kingdom, Banks)                               
|Nestle SA (Switzerland, Food Products)                                                
|Vodafone Group PLC sponsored ADR (United Kingdom, Wireless Telecommunication Services)
|Westpac Banking Corp. (Australia, Banks)                                              
|BASF AG (Germany, Chemicals)                                                          
|                                                                                      
|Market Sectors as of April 30, 2015                                                   
|                                                                                      
|Financials                                                                            
|Consumer Discretionary                                                                
|Health Care                                                                           
|Industrials                                                                           
|Consumer Staples                                                                      
|Telecommunication Services                                                            
|Energy                                                                                
|Information Technology                                                                
|Materials                                                                             
|Utilities                                                                             

Semiannual Report

---

# Investments April 30, 2015 (Unaudited)

Showing Percentage of Net Assets

|Common Stocks - 98.1%                                      
|-----------------------------------------------------------
|                                                           
|Australia - 4.6%                                           
|Ansell Ltd.                                                
|Australia & New Zealand Banking Group Ltd.                 
|Telstra Corp. Ltd.                                         
|Transurban Group unit                                      
|Westpac Banking Corp.                                      
|TOTAL AUSTRALIA                                            
|Bailiwick of Jersey - 1.8%                                 
|Shire PLC                                                  
|Wolseley PLC                                               
|TOTAL BAILIWICK OF JERSEY                                  
|Belgium - 0.6%                                             
|Anheuser-Busch InBev SA NV                                 
|Bermuda - 0.2%                                             
|Travelport Worldwide Ltd. (d)                              
|Canada - 1.1%                                              
|Imperial Oil Ltd.                                          
|Potash Corp. of Saskatchewan, Inc.                         
|TOTAL CANADA                                               
|Denmark - 0.4%                                             
|Topdanmark A/S (a)                                         
|Finland - 1.1%                                             
|Sampo Oyj (A Shares)                                       
|France - 14.8%                                             
|Atos Origin SA                                             
|AXA SA                                                     
|Cap Gemini SA                                              
|Havas SA                                                   
|Orange SA                                                  
|Renault SA                                                 
|Sanofi SA                                                  
|Societe Generale Series A                                  
|Total SA                                                   
|Unibail-Rodamco                                            
|VINCI SA                                                   
|Vivendi SA                                                 
|TOTAL FRANCE                                               
|Germany - 5.2%                                             
|BASF AG (d)                                                
|Common Stocks - continued                                  
|                                                           
|Germany - continued                                        
|Bayer AG                                                   
|Continental AG                                             
|Fresenius SE & Co. KGaA                                    
|GEA Group AG                                               
|TOTAL GERMANY                                              
|Ireland - 1.2%                                             
|Actavis PLC (a)                                            
|Israel - 1.3%                                              
|Teva Pharmaceutical Industries Ltd. sponsored ADR          
|Italy - 2.0%                                               
|Intesa Sanpaolo SpA                                        
|Mediaset SpA                                               
|Telecom Italia SpA (a)                                     
|TOTAL ITALY                                                
|Japan - 20.4%                                              
|Astellas Pharma, Inc.                                      
|Dentsu, Inc.                                               
|East Japan Railway Co.                                     
|Fujitsu Ltd.                                               
|Hitachi Ltd.                                               
|Hoya Corp.                                                 
|Itochu Corp.                                               
|Japan Tobacco, Inc.                                        
|KDDI Corp.                                                 
|Makita Corp.                                               
|Mitsubishi UFJ Financial Group, Inc.                       
|Nippon Prologis REIT, Inc.                                 
|Nippon Telegraph & Telephone Corp.                         
|OMRON Corp.                                                
|ORIX Corp.                                                 
|Seven & i Holdings Co. Ltd.                                
|Seven Bank Ltd.                                            
|Sony Financial Holdings, Inc.                              
|Sumitomo Mitsui Trust Holdings, Inc.                       
|Toyota Motor Corp.                                         
|TOTAL JAPAN                                                
|Korea (South) - 0.5%                                       
|Samsung Electronics Co. Ltd.                               
|Common Stocks - continued                                  
|                                                           
|Luxembourg - 0.5%                                          
|RTL Group SA                                               
|Netherlands - 2.9%                                         
|ING Groep NV (Certificaten Van Aandelen)                   
|Mylan N.V. (a)                                             
|Reed Elsevier NV                                           
|TOTAL NETHERLANDS                                          
|Singapore - 1.5%                                           
|Singapore Telecommunications Ltd.                          
|UOL Group Ltd.                                             
|TOTAL SINGAPORE                                            
|Spain - 1.8%                                               
|Iberdrola SA                                               
|Mediaset Espana Comunicacion, S.A.                         
|TOTAL SPAIN                                                
|Sweden - 1.3%                                              
|Nordea Bank AB                                             
|Switzerland - 6.8%                                         
|Nestle SA                                                  
|Novartis AG                                                
|Roche Holding AG (participation certificate)               
|Syngenta AG (Switzerland)                                  
|UBS Group AG                                               
|Zurich Insurance Group AG                                  
|TOTAL SWITZERLAND                                          
|United Kingdom - 24.9%                                     
|AstraZeneca PLC (United Kingdom)                           
|Aviva PLC                                                  
|BAE Systems PLC                                            
|Barclays PLC                                               
|BG Group PLC                                               
|BP PLC sponsored ADR                                       
|Bunzl PLC                                                  
|Compass Group PLC                                          
|HSBC Holdings PLC sponsored ADR                            
|Imperial Tobacco Group PLC                                 
|Informa PLC                                                
|ITV PLC                                                    
|Johnson Matthey PLC                                        
|Common Stocks - continued                                  
|                                                           
|United Kingdom - continued                                 
|Liberty Global PLC Class A (a)                             
|Lloyds Banking Group PLC                                   
|Meggitt PLC                                                
|Micro Focus International PLC                              
|National Grid PLC                                          
|Prudential PLC                                             
|Rio Tinto PLC                                              
|Standard Chartered PLC (United Kingdom)                    
|Tesco PLC                                                  
|Vodafone Group PLC sponsored ADR                           
|TOTAL UNITED KINGDOM                                       
|United States of America - 3.2%                            
|Altria Group, Inc.                                         
|Constellation Brands, Inc. Class A (sub. vtg.) (a)         
|Energizer Holdings, Inc.                                   
|McGraw Hill Financial, Inc.                                
|ResMed, Inc. CDI                                           
|TOTAL UNITED STATES OF AMERICA                             
|TOTAL COMMON STOCKS
(Cost $198,440,368)                    
|Nonconvertible Preferred Stocks - 1.1%                     
|                                                           
|Germany - 1.1%                                             
|Volkswagen AG
(Cost $2,072,501)                            
|Money Market Funds - 1.8%                                  
|                                                           
|Fidelity Cash Central Fund, 0.15% (b)                      
|Fidelity Securities Lending Cash Central Fund, 0.17% (b)(c)
|TOTAL MONEY MARKET FUNDS
(Cost $3,946,573)                 
|TOTAL INVESTMENT PORTFOLIO - 101.0%
(Cost $204,459,442)    
|NET OTHER ASSETS (LIABILITIES) - (1.0)%                    
|NET ASSETS - 100%                                          

|Legend                                                                                                                                                                                                                                                                                                                                                                                                                                           
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|(a)	Non-income producing                                                                                                                                                                                                                                                                                                                                                                                                                         
|(b)	Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.
|(c)	Investment made with cash collateral received from securities on loan.                                                                                                                                                                                                                                                                                                                                                                       
|(d)	Security or a portion of the security is on loan at period end.                                                                                                                                                                                                                                                                                                                                                                              
|Affiliated Central Funds                                                                                                                                                                                                                                                                                                                                                                                                                         
|Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:                                                                                                                                                                                                                                                                                                                    

|Fund                                          | Income earned
|--------------------------------------------- | -------------
|Fidelity Cash Central Fund                    | $	1,224      
|Fidelity Securities Lending Cash Central Fund | 48,874       
|Total                                         | $	50,098     

|Other Information                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|Categorizations in the Schedule of Investments are based on country or territory of incorporation.                                                                                                                                                                                                                                                                                                                                                                                             
|The following is a summary of the inputs used, as of April 30, 2015, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the tables below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

|Valuation Inputs at Reporting Date:
|-----------------------------------
|Description                        
|Investments in Securities:         
|Equities:                          
|Consumer Discretionary             
|Consumer Staples                   
|Energy                             
|Financials                         
|Health Care                        
|Industrials                        
|Information Technology             
|Materials                          
|Telecommunication Services         
|Utilities                          
|Money Market Funds                 
|Total Investments in Securities:   

|The following is a summary of transfers between Level 1 and Level 2 for the period ended April 30, 2015. Transfers are assumed to have occurred at the beginning of the period, and are primarily attributable to the valuation techniques used for foreign equity securities, as discussed in the accompanying Notes to Financial Statements:
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|Transfers          | Total       
|------------------ | ------------
|Level 1 to Level 2 | $	47,358,875
|Level 2 to Level 1 | 9,596,309   

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

---

# Financial Statements

## Statement of Assets and Liabilities

|                                                                                                                                                     | April 30, 2015 (Unaudited)
|---------------------------------------------------------------------------------------------------------------------------------------------------- | --------------------------
|                                                                                                                                                     |                           
|Assets                                                                                                                                               |                           
|Investment in securities, at value (including securities loaned of $3,153,782) - See accompanying schedule:
Unaffiliated issuers (cost $200,512,869) | $	215,220,357             
|Fidelity Central Funds (cost $3,946,573)                                                                                                             | 3,946,573                 
|Total Investments (cost $204,459,442)                                                                                                                |                           
|Cash                                                                                                                                                 |                           
|Receivable for investments sold                                                                                                                      |                           
|Receivable for fund shares sold                                                                                                                      |                           
|Dividends receivable                                                                                                                                 |                           
|Distributions receivable from Fidelity Central Funds                                                                                                 |                           
|Prepaid expenses                                                                                                                                     |                           
|Other receivables                                                                                                                                    |                           
|Total assets                                                                                                                                         |                           
|                                                                                                                                                     |                           
|Liabilities                                                                                                                                          |                           
|Payable for investments purchased                                                                                                                    | $	857,698                 
|Payable for fund shares redeemed                                                                                                                     | 65,509                    
|Accrued management fee                                                                                                                               | 120,319                   
|Distribution and service plan fees payable                                                                                                           | 6,988                     
|Other affiliated payables                                                                                                                            | 43,396                    
|Other payables and accrued expenses                                                                                                                  | 46,249                    
|Collateral on securities loaned, at value                                                                                                            | 3,307,000                 
|Total liabilities                                                                                                                                    |                           
|                                                                                                                                                     |                           
|Net Assets                                                                                                                                           |                           
|Net Assets consist of:                                                                                                                               |                           
|Paid in capital                                                                                                                                      |                           
|Undistributed net investment income                                                                                                                  |                           
|Accumulated undistributed net realized gain (loss) on investments and foreign currency transactions                                                  |                           
|Net unrealized appreciation (depreciation) on investments and assets and liabilities in foreign currencies                                           |                           
|Net Assets                                                                                                                                           |                           

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

Financial Statements - continued

## Statement of Assets and Liabilities - continued

|                                                                                                                           | April 30, 2015 (Unaudited)
|-------------------------------------------------------------------------------------------------------------------------- | --------------------------
|                                                                                                                           |                           
|Calculation of Maximum Offering Price
Class A:
Net Asset Valueand redemption price per share ($7,681,935 ÷ 877,020 shares) |                           
|                                                                                                                           |                           
|Maximum offering price per share (100/94.25 of $8.76)                                                                      |                           
|Class T:
Net Asset Value and redemption price per share ($3,984,244 ÷ 455,252 shares)                                      |                           
|                                                                                                                           |                           
|Maximum offering price per share (100/96.50 of $8.75)                                                                      |                           
|Class B:
Net Asset Value and offering price per share ($356,264 ÷ 40,189 shares)A                                          |                           
|                                                                                                                           |                           
|Class C:
Net Asset Value and offering price per share ($4,291,579 ÷ 490,524 shares)A                                       |                           
|                                                                                                                           |                           
|International Value:
Net Asset Value, offering price and redemption price per share ($196,167,458 ÷ 22,404,072 shares)     |                           
|                                                                                                                           |                           
|Institutional Class:
Net Asset Value, offering price and redemption price per share ($4,458,723 ÷ 508,877 shares)          |                           

ARedemption price per share is equal to net asset value less any applicable contingent deferred sales charge.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Statement of Operations

|Six months ended April 30, 2015 (Unaudited)                                   
|------------------------------------------------------------------------------
|                                                                              
|Investment Income                                                             
|Dividends                                                                     
|Income from Fidelity Central Funds                                            
|Income before foreign taxes withheld                                          
|Less foreign taxes withheld                                                   
|Total income                                                                  
|                                                                              
|Expenses                                                                      
|Management fee
Basic fee                                                      
|Performance adjustment                                                        
|Transfer agent fees                                                           
|Distribution and service plan fees                                            
|Accounting and security lending fees                                          
|Custodian fees and expenses                                                   
|Independent trustees' compensation                                            
|Registration fees                                                             
|Audit                                                                         
|Legal                                                                         
|Miscellaneous                                                                 
|Total expenses before reductions                                              
|Expense reductions                                                            
|Net investment income (loss)                                                  
|Realized and Unrealized Gain (Loss)
Net realized gain (loss) on:              
|Investment securities:                                                        
|Unaffiliated issuers                                                          
|Foreign currency transactions                                                 
|Total net realized gain (loss)                                                
|Change in net unrealized appreciation (depreciation) on:
Investment securities
|Assets and liabilities in foreign currencies                                  
|Total change in net unrealized appreciation (depreciation)                    
|Net gain (loss)                                                               
|Netincrease (decrease) in net assets resulting from operations                

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

Financial Statements - continued

## Statement of Changes in Net Assets

|                                                                                                                                                | Six months ended April 30, 2015 (Unaudited) | Year ended 
October 31, 
2014
|----------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------------------- | -----------------------------
|Increase (Decrease) in Net Assets                                                                                                               |                                             |                              
|Operations                                                                                                                                      |                                             |                              
|Net investment income (loss)                                                                                                                    | $	2,060,170                                 | $	7,699,402                  
|Net realized gain (loss)                                                                                                                        | (4,478,651)                                 | 12,080,123                   
|Change in net unrealized appreciation (depreciation)                                                                                            | 13,085,069                                  | (23,435,459)                 
|Netincrease (decrease) in net assets resulting from operations                                                                                  | 10,666,588                                  | (3,655,934)                  
|Distributions to shareholders from net investment income                                                                                        | (7,553,931)                                 | (4,160,313)                  
|Distributions to shareholders from net realized gain                                                                                            | -                                           | (301,192)                    
|Total distributions                                                                                                                             | (7,553,931)                                 | (4,461,505)                  
|Share transactions - net increase (decrease)                                                                                                    | 5,766,788                                   | 20,511,129                   
|Redemption fees                                                                                                                                 | 647                                         | 1,150                        
|Total increase (decrease) in net assets                                                                                                         | 8,880,092                                   | 12,394,840                   
|                                                                                                                                                |                                             |                              
|Net Assets                                                                                                                                      |                                             |                              
|Beginning of period                                                                                                                             | 208,060,111                                 | 195,665,271                  
|End of period (including undistributed net investment income of $1,561,185 and undistributed net investment income of $7,054,946, respectively) | $	216,940,203                               | $	208,060,111                

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - Class A

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | Six months ended April 30, 2015 | Years ended October 31,
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------- | -----------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | (Unaudited)                     | 2014                   
|Selected Per-Share Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                                 |                        
|Net asset value, beginning of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | $	8.62                          | $	8.96                 
|Income from Investment Operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |                                 |                        
|Net investment income (loss)E                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | .07                             | .31H                   
|Net realized and unrealized gain (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | .35                             | (.47)                  
|Total from investment operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | .42                             | (.16)                  
|Distributions from net investment income                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | (.28)                           | (.17)                  
|Distributions from net realized gain                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | -                               | (.01)                  
|Total distributions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | (.28)                           | (.18)                  
|Redemption fees added to paid in capitalE, J                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | -                               | -                      
|Net asset value, end of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | $	8.76                          | $	8.62                 
|Total ReturnB, C, D                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | 5.06%                           | (1.76)%                
|Ratios to Average Net AssetsF, I                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                                 |                        
|Expenses before reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | 1.42%A                          | 1.32%                  
|Expenses net of fee waivers, if any                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | 1.42%A                          | 1.32%                  
|Expenses net of all reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | 1.41%A                          | 1.32%                  
|Net investment income (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | 1.67%A                          | 3.44%H                 
|Supplemental Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |                                 |                        
|Net assets, end of period (000 omitted)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | $	7,682                         | $	6,296                
|Portfolio turnover rateG                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | 51%A                            | 69%                    
|AAnnualizedBTotal returns for periods of less than one year are not annualized.CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.DTotal returns do not include the effect of the sales charges.ECalculated based on average shares outstanding during the period.FFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.GAmount does not include the portfolio activity of any underlying Fidelity Central Funds.HInvestment income per share reflects a large, non-recurring dividend which amounted to $.14 per share. Excluding this non-recurring dividend, the ratio of net investment income (loss) to average net assets would have been 1.90%.IExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.JAmount represents less than $.01 per share.KTotal distributions of $.23 per share is comprised of distributions from net investment income of $.191 and distributions from net realized gain of $.034 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - Class T

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | Six months ended April 30, 2015 | Years ended October 31,
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------- | -----------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | (Unaudited)                     | 2014                   
|Selected Per-Share Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                                 |                        
|Net asset value, beginning of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | $	8.60                          | $	8.94                 
|Income from Investment Operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |                                 |                        
|Net investment income (loss)E                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | .06                             | .28H                   
|Net realized and unrealized gain (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | .35                             | (.46)                  
|Total from investment operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | .41                             | (.18)                  
|Distributions from net investment income                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | (.26)                           | (.15)                  
|Distributions from net realized gain                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | -                               | (.01)                  
|Total distributions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | (.26)                           | (.16)                  
|Redemption fees added to paid in capitalE, J                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | -                               | -                      
|Net asset value, end of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | $	8.75                          | $	8.60                 
|Total ReturnB, C, D                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | 4.91%                           | (1.99)%                
|Ratios to Average Net AssetsF, I                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                                 |                        
|Expenses before reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | 1.69%A                          | 1.59%                  
|Expenses net of fee waivers, if any                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | 1.69%A                          | 1.59%                  
|Expenses net of all reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | 1.69%A                          | 1.59%                  
|Net investment income (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | 1.39%A                          | 3.17%H                 
|Supplemental Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |                                 |                        
|Net assets, end of period (000 omitted)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | $	3,984                         | $	3,604                
|Portfolio turnover rateG                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | 51%A                            | 69%                    
|AAnnualizedBTotal returns for periods of less than one year are not annualized.CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.DTotal returns do not include the effect of the sales charges.ECalculated based on average shares outstanding during the period.FFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.GAmount does not include the portfolio activity of any underlying Fidelity Central Funds.HInvestment income per share reflects a large, non-recurring dividend which amounted to $.14 per share. Excluding this non-recurring dividend, the ratio of net investment income (loss) to average net assets would have been 1.64%.IExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.JAmount represents less than $.01 per share.KTotal distributions of $.21 per share is comprised of distributions from net investment income of $.173 and distributions from net realized gain of $.034 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - Class B

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | Six months ended April 30, 2015 | Years ended October 31,
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------- | -----------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | (Unaudited)                     | 2014                   
|Selected Per-Share Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |                                 |                        
|Net asset value, beginning of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | $	8.66                          | $	8.98                 
|Income from Investment Operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |                                 |                        
|Net investment income (loss)E                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | .04                             | .24H                   
|Net realized and unrealized gain (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | .34                             | (.45)                  
|Total from investment operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | .38                             | (.21)                  
|Distributions from net investment income                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | (.18)                           | (.09)                  
|Distributions from net realized gain                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | -                               | (.01)                  
|Total distributions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | (.18)                           | (.11)L                 
|Redemption fees added to paid in capitalE, J                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | -                               | -                      
|Net asset value, end of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | $	8.86                          | $	8.66                 
|Total ReturnB, C, D                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | 4.49%                           | (2.39)%                
|Ratios to Average Net AssetsF, I                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |                                 |                        
|Expenses before reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | 2.18%A                          | 2.08%                  
|Expenses net of fee waivers, if any                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | 2.18%A                          | 2.08%                  
|Expenses net of all reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | 2.17%A                          | 2.08%                  
|Net investment income (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | .91%A                           | 2.68%H                 
|Supplemental Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |                                 |                        
|Net assets, end of period (000 omitted)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | $	356                           | $	414                  
|Portfolio turnover rateG                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | 51%A                            | 69%                    
|AAnnualizedBTotal returns for periods of less than one year are not annualized.CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.DTotal returns do not include the effect of the contingent deferred sales charge.ECalculated based on average shares outstanding during the period.FFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.GAmount does not include the portfolio activity of any underlying Fidelity Central Funds.HInvestment income per share reflects a large, non-recurring dividend which amounted to $.14 per share. Excluding this non-recurring dividend, the ratio of net investment income (loss) to average net assets would have been 1.15%.IExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.JAmount represents less than $.01 per share.KTotal distributions of $.17 per share is comprised of distributions from net investment income of $.131 and distributions from net realized gain of $.034 per share.LTotal distributions of $.11 per share is comprised of distributions from net investment income of $.093 and distributions from net realized gain of $.014 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - Class C

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | Six months ended April 30, 2015 | Years ended October 31,
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ------------------------------- | -----------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | (Unaudited)                     | 2014                   
|Selected Per-Share Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                                 |                        
|Net asset value, beginning of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | $	8.59                          | $	8.93                 
|Income from Investment Operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |                                 |                        
|Net investment income (loss)E                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | .04                             | .24H                   
|Net realized and unrealized gain (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | .35                             | (.45)                  
|Total from investment operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | .39                             | (.21)                  
|Distributions from net investment income                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | (.23)                           | (.11)                  
|Distributions from net realized gain                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | -                               | (.01)                  
|Total distributions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | (.23)                           | (.13)K                 
|Redemption fees added to paid in capitalE, J                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | -                               | -                      
|Net asset value, end of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | $	8.75                          | $	8.59                 
|Total ReturnB, C, D                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | 4.63%                           | (2.43)%                
|Ratios to Average Net AssetsF, I                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |                                 |                        
|Expenses before reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | 2.18%A                          | 2.07%                  
|Expenses net of fee waivers, if any                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | 2.18%A                          | 2.07%                  
|Expenses net of all reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | 2.17%A                          | 2.07%                  
|Net investment income (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | .91%A                           | 2.69%H                 
|Supplemental Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |                                 |                        
|Net assets, end of period (000 omitted)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | $	4,292                         | $	3,647                
|Portfolio turnover rateG                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | 51%A                            | 69%                    
|AAnnualizedBTotal returns for periods of less than one year are not annualized.CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.DTotal returns do not include the effect of the contingent deferred sales charge.ECalculated based on average shares outstanding during the period.FFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.GAmount does not include the portfolio activity of any underlying Fidelity Central Funds.HInvestment income per share reflects a large, non-recurring dividend which amounted to $.14 per share. Excluding this non-recurring dividend, the ratio of net investment income (loss) to average net assets would have been 1.15%.IExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.JAmount represents less than $.01 per share.KTotal distributions of $.13 per share is comprised of distributions from net investment income of $.111 and distributions from net realized gain of $.014 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - International Value

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | Six months ended April 30, 2015 | Years ended October 31,
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ------------------------------- | -----------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | (Unaudited)                     | 2014                   
|Selected Per-Share Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                                 |                        
|Net asset value, beginning of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | $	8.64                          | $	8.97                 
|Income from Investment Operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                                 |                        
|Net investment income (loss)D                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | .09                             | .34G                   
|Net realized and unrealized gain (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | .35                             | (.46)                  
|Total from investment operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | .44                             | (.12)                  
|Distributions from net investment income                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | (.32)                           | (.20)                  
|Distributions from net realized gain                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | -                               | (.01)                  
|Total distributions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | (.32)                           | (.21)                  
|Redemption fees added to paid in capitalD, I                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | -                               | -                      
|Net asset value, end of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | $	8.76                          | $	8.64                 
|Total ReturnB, C                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | 5.24%                           | (1.34)%                
|Ratios to Average Net AssetsE, H                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |                                 |                        
|Expenses before reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | 1.06%A                          | .96%                   
|Expenses net of fee waivers, if any                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | 1.06%A                          | .96%                   
|Expenses net of all reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | 1.06%A                          | .95%                   
|Net investment income (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | 2.02%A                          | 3.80%G                 
|Supplemental Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                                 |                        
|Net assets, end of period (000 omitted)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $	196,167                       | $	192,789              
|Portfolio turnover rateF                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | 51%A                            | 69%                    
|AAnnualizedBTotal returns for periods of less than one year are not annualized.CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.DCalculated based on average shares outstanding during the period.EFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.FAmount does not include the portfolio activity of any underlying Fidelity Central Funds.GInvestment income per share reflects a large, non-recurring dividend which amounted to $.14 per share. Excluding this non-recurring dividend, the ratio of net investment income (loss) to average net assets would have been 2.27%.HExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.IAmount represents less than $.01 per share.JTotal distributions of $.13 per share is comprised of distributions from net investment income of $.129 and distributions from net realized gain of $.005 per share.KTotal distributions of $.27 per share is comprised of distributions from net investment income of $.223 and distributions from net realized gain of $.042 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - Institutional Class

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | Six months ended April 30, 2015 | Years ended October 31,
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------- | -----------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | (Unaudited)                     | 2014                   
|Selected Per-Share Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |                                 |                        
|Net asset value, beginning of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | $	8.65                          | $	8.98                 
|Income from Investment Operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |                                 |                        
|Net investment income (loss)D                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | .08                             | .33G                   
|Net realized and unrealized gain (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | .35                             | (.45)                  
|Total from investment operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | .43                             | (.12)                  
|Distributions from net investment income                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | (.32)                           | (.19)                  
|Distributions from net realized gain                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | -                               | (.01)                  
|Total distributions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | (.32)                           | (.21)L                 
|Redemption fees added to paid in capitalD, I                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | -                               | -                      
|Net asset value, end of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $	8.76                          | $	8.65                 
|Total ReturnB, C                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | 5.11%                           | (1.41)%                
|Ratios to Average Net AssetsE, H                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                                 |                        
|Expenses before reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | 1.17%A                          | 1.05%                  
|Expenses net of fee waivers, if any                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | 1.17%A                          | 1.05%                  
|Expenses net of all reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | 1.17%A                          | 1.04%                  
|Net investment income (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | 1.92%A                          | 3.71%G                 
|Supplemental Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |                                 |                        
|Net assets, end of period (000 omitted)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | $	4,459                         | $	1,310                
|Portfolio turnover rateF                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | 51%A                            | 69%                    
|AAnnualizedBTotal returns for periods of less than one year are not annualized.CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.DCalculated based on average shares outstanding during the period.EFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.FAmount does not include the portfolio activity of any underlying Fidelity Central Funds.GInvestment income per share reflects a large, non-recurring dividend which amounted to $.14 per share. Excluding this non-recurring dividend, the ratio of net investment income (loss) to average net assets would have been 2.18%.HExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.IAmount represents less than $.01 per share.JTotal distributions of $.14 per share is comprised of distributions from net investment income of $.137 and distributions from net realized gain of $.005 per share.KTotal distributions of $.26 per share is comprised of distributions from net investment income of $.221 and distributions from net realized gain of $.034 per share.LTotal distributions of $.21 per share is comprised of distributions from net investment income of $.191 and distributions from net realized gain of $.014 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

---

# Notes to Financial Statements

For the period ended April 30, 2015 (Unaudited)

1. Organization.

Fidelity® International Value Fund (the Fund) is a fund of Fidelity Investment Trust (the Trust) and is authorized to issue an unlimited number of shares. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Massachusetts business trust. The Fund offers Class A, Class T, Class C, International Value and Institutional Class shares, each of which, along with Class B shares, has equal rights as to assets and voting privileges. Class B shares are closed to new accounts and additional purchases, except for exchanges and reinvestments. Each class has exclusive voting rights with respect to matters that affect that class. Class B shares will automatically convert to Class A shares after a holding period of seven years from the initial date of purchase.

2. Investments in Fidelity Central Funds.

The Fund invests in Fidelity Central Funds, which are open-end investment companies generally available only to other investment companies and accounts managed by the investment adviser and its affiliates. The Fund's Schedule of Investments lists each of the Fidelity Central Funds held as of period end, if any, as an investment of the Fund, but does not include the underlying holdings of each Fidelity Central Fund. As an Investing Fund, the Fund indirectly bears its proportionate share of the expenses of the underlying Fidelity Central Funds.

The Money Market Central Funds seek preservation of capital and current income and are managed by Fidelity Investments Money Management, Inc. (FIMM), an affiliate of the investment adviser. Annualized expenses of the Money Market Central Funds as of their most recent shareholder report date are less than .01%.

A complete unaudited list of holdings for each Fidelity Central Fund is available upon request or at the Securities and Exchange Commission (the SEC) website at www.sec.gov. In addition, the financial statements of the Fidelity Central Funds are available on the SEC website or upon request.

3. Significant Accounting Policies.

The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP), which require management to make certain estimates and assumptions at the date of the financial statements. Actual results could differ from those estimates. Subsequent events, if any, through the date that the financial statements were issued have been evaluated in the preparation of

Semiannual Report

Notes to Financial Statements (Unaudited) - continued

3. Significant Accounting Policies - continued

the financial statements. The following summarizes the significant accounting policies of the Fund:

Investment Valuation.Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. The Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fidelity Management & Research Company (FMR) Fair Value Committee (the Committee). In accordance with valuation policies and procedures approved by the Board, the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund's valuation policies and procedures and reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee.

The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels as shown below:

Level 1 - quoted prices in active markets for identical investments

Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, etc.)

Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available)

Valuation techniques used to value the Fund's investments by major category are as follows:

Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing vendor on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. Utilizing these techniques may result in transfers between Level 1 and Level 2.

Semiannual Report

3. Significant Accounting Policies - continued

Investment Valuation - continued

For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy.

Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy.

Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. The aggregate value of investments by input level, as of April 30, 2015, including information on transfers between Levels 1 and 2, is included at the end of the Fund's Schedule of Investments.

Foreign Currency.The Fund may use foreign currency contracts to facilitate transactions in foreign-denominated securities. Gains and losses from these transactions may arise from changes in the value of the foreign currency or if the counterparties do not perform under the contracts' terms.

Foreign-denominated assets, including investment securities, and liabilities are translated into U.S. dollars at the exchange rates at period end. Purchases and sales of investment securities, income and dividends received and expenses denominated in foreign currencies are translated into U.S. dollars at the exchange rate in effect on the transaction date.

The effects of exchange rate fluctuations on investments are included with the net realized and unrealized gain (loss) on investment securities. Other foreign currency transactions resulting in realized and unrealized gain (loss) are disclosed separately.

Investment Transactions and Income.For financial reporting purposes, the Fund's investment holdings and NAV include trades executed through the end of the last business day of the period. The NAV per share for processing shareholder transactions is calculated as of the close of business of the New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time and includes trades executed through the end of the prior business day. Gains and losses on securities sold are determined on the basis of identified cost. Dividend income is recorded on the ex-dividend date, except for certain dividends from foreign securities where the ex-dividend date may have passed, which are recorded as soon as the Fund is informed of the ex-dividend date. Non-cash dividends included in dividend income, if any, are recorded at the fair market value of the securities received. Income and capital gain distributions from Fidelity Central Funds, if any, are recorded on the ex-dividend date. Distributions received on securities that represent a return of

Semiannual Report

Notes to Financial Statements (Unaudited) - continued

3. Significant Accounting Policies - continued

Investment Transactions and Income - continued

capital or capital gain are recorded as a reduction of cost of investments and/or as a realized gain. Subsequent to ex-dividend date the Fund determines the components of these distributions, based upon receipt of tax filings or other correspondence relating to the underlying investment. Investment income is recorded net of foreign taxes withheld where recovery of such taxes is uncertain.

Class Allocations andExpenses. Investment income, realized and unrealized capital gains and losses, common expenses of the Fund, and certain fund-level expense reductions, if any, are allocated daily on a pro-rata basis to each class based on the relative net assets of each class to the total net assets of the Fund. Each class differs with respect to transfer agent and distribution and service plan fees incurred. Certain expense reductions may also differ by class. For the reporting period, the allocated portion of income and expenses to each class as a percent of its average net assets may vary due to the timing of recording these transactions in relation to fluctuating net assets of the classes. Expenses directly attributable to a fund are charged to that fund. Expenses attributable to more than one fund are allocated among the respective funds on the basis of relative net assets or other appropriate methods. Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.

Income Tax Information and Distributions to Shareholders. Each year, the Fund intends to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code, including distributing substantially all of its taxable income and realized gains. As a result, no provision for U.S. Federal income taxes is required. The Fund files a U.S. federal tax return, in addition to state and local tax returns as required. The Fund's federal income tax returns are subject to examination by the Internal Revenue Service (IRS) for a period of three fiscal years after they are filed. State and local tax returns may be subject to examination for an additional fiscal year depending on the jurisdiction. Foreign taxes are provided for based on the Fund's understanding of the tax rules and rates that exist in the foreign markets in which it invests.

Distributions are declared and recorded on the ex-dividend date. Income dividends and capital gain distributions are declared separately for each class. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP.

Capital accounts within the financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations. Capital accounts are not adjusted for temporary book-tax differences which will reverse in a subsequent period.

Semiannual Report

3. Significant Accounting Policies - continued

Income Tax Information and Distributions to Shareholders - continued

Book-tax differences are primarily due to foreign currency transactions, passive foreign investment companies (PFIC), capital loss carryforwards and losses deferred due to wash sales.

The federal tax cost of investment securities and unrealized appreciation (depreciation) as of period end were as follows:

|Gross unrealized appreciation                            | $	23,354,025 
|-------------------------------------------------------- | -------------
|Gross unrealized depreciation                            | (9,016,625)  
|Net unrealized appreciation (depreciation) on securities | $	14,337,400 
|                                                         |              
|Tax cost                                                 | $	204,829,530

Capital loss carryforwards are only available to offset future capital gains of the Fund to the extent provided by regulations and may be limited. Under the Regulated Investment Company Modernization Act of 2010 (the Act), the Fund is permitted to carry forward capital losses incurred in taxable years beginning after December 22, 2010 for an unlimited period and such capital losses are required to be used prior to any losses that expire. The capital loss carryforward information presented below, including any applicable limitation, is estimated as of prior fiscal period end and is subject to adjustment.

|Fiscal year of expiration       |                
|------------------------------- | ---------------
|2016                            | $	(2,663,413)  
|2017                            | (65,376,972)   
|2018                            | (3,571,319)    
|2019                            | (31,368,797)   
|Total capital loss carryforward | $	(102,980,501)

Short-Term Trading (Redemption) Fees. Shares held by investors in the Fund less than 30 days may have been subject to a redemption fee equal to 1.00% of the NAV of shares redeemed. All redemption fees, which reduce the proceeds of the shareholder redemption, are retained by the Fund and accounted for as an addition to paid in capital.

New Accounting Pronouncement.In June 2014, the Financial Accounting Standards Board issued Accounting Standard Update No. 2014-11, Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures (the Update). The Update amends the accounting for certain repurchase agreements and expands disclosure requirements for reverse repurchase agreements, securities lending and other similar transactions. The disclosure requirements are effective for annual and interim reporting periods beginning after December 15, 2014. Management is currently evaluating the impact of the Update on the Fund's financial statements and related disclosures.

Semiannual Report

Notes to Financial Statements (Unaudited) - continued

4. Purchases and Sales of Investments.

Purchases and sales of securities, other than short-term securities, aggregated $53,883,205 and $53,026,265, respectively.

5. Fees and Other Transactions with Affiliates.

Management Fee. Fidelity Management & Research Company (the investment adviser) and its affiliates provide the Fund with investment management related services for which the Fund pays a monthly management fee. The management fee is the sum of an individual fund fee rate that is based on an annual rate of .45% of the Fund's average net assets and an annualized group fee rate that averaged .25% during the period. The group fee rate is based upon the average net assets of all the mutual funds advised by the investment adviser, including any mutual funds previously advised by the investment adviser that are currently advised by Fidelity SelectCo, LLC, an affiliate of the investment adviser. The group fee rate decreases as assets under management increase and increases as assets under management decrease. In addition, the management fee is subject to a performance adjustment (up to a maximum of ± .20% of the Fund's average net assets over a 36 month performance period). The upward or downward adjustment to the management fee is based on the relative investment performance of International Value as compared to its benchmark index, the MSCI EAFE Value Index, over the same 36 month performance period. For the reporting period, the total annualized management fee rate, including the performance adjustment, was .70% of the Fund's average net assets. The performance adjustment included in the management fee rate may be higher or lower than the maximum performance adjustment rate due to the difference between the average net assets for the reporting and performance periods.

Distribution and Service Plan Fees. In accordance with Rule 12b-1 of the 1940 Act, the Fund has adopted separate Distribution and Service Plans for each class of shares. Certain classes pay Fidelity Distributors Corporation (FDC), an affiliate of the investment adviser, separate Distribution and Service Fees, each of which is based on an annual percentage of each class' average net assets. In addition, FDC may pay financial intermediaries for selling shares of the Fund and providing shareholder support services. For the period, the Distribution and Service Fee rates, total fees and amounts retained by FDC were as follows:

|        | Distribution
Fee | Service
Fee | Total Fees | Retained
by FDC
|------- | ---------------- | ----------- | ---------- | ---------------
|Class A | -%               | .25%        | $	8,065    | $	435          
|Class T | .25%             | .25%        | 9,249      | 121            
|Class B | .75%             | .25%        | 1,883      | 1,417          
|Class C | .75%             | .25%        | 18,991     | 3,431          
|        |                  |             | $	38,188   | $	5,404        

Semiannual Report

5. Fees and Other Transactions with Affiliates - continued

Sales Load. FDC may receive a front-end sales charge of up to 5.75% for selling Class A shares and 3.50% for selling Class T shares, some of which is paid to financial intermediaries for selling shares of the Fund. Depending on the holding period, FDC may receive contingent deferred sales charges levied on Class A, Class T, Class B, and Class C redemptions. The deferred sales charges range from 5.00% to 1.00% for Class B shares, 1.00% for Class C shares, 1.00% for certain purchases of Class A shares and .25% for certain purchases of Class T shares.

For the period, sales charge amounts retained by FDC were as follows:

|         | Retained
by FDC
|-------- | ---------------
|Class A  | $	3,849        
|Class T  | 704            
|Class B* | 97             
|Class C* | 439            
|         | $	5,089        

*	When Class B and Class C shares are initially sold, FDC pays commissions from its own resources to financial intermediaries through which the sales 	are made.

Transfer Agent Fees.Fidelity Investments Institutional Operations Company, Inc., (FIIOC), an affiliate of the investment adviser, is the transfer, dividend disbursing and shareholder servicing agent for each class of the Fund. FIIOC receives account fees and asset-based fees that vary according to the account size and type of account of the shareholders of the respective classes of the Fund. FIIOC pays for typesetting, printing and mailing of shareholder reports, except proxy statements.

For the period, transfer agent fees for each class were as follows:

|                    | Amount    | % of
Class-Level Average
Net Assets*
|------------------- | --------- | ------------------------------------
|Class A             | $	9,221   | .29                                 
|Class T             | 5,733     | .31                                 
|Class B             | 552       | .29                                 
|Class C             | 5,616     | .30                                 
|International Value | 173,464   | .18                                 
|Institutional Class | 3,593     | .29                                 
|                    | $	198,179 |                                     

*Annualized

Semiannual Report

Notes to Financial Statements (Unaudited) - continued

5. Fees and Other Transactions with Affiliates - continued

Accounting and Security Lending Fees.Fidelity Service Company, Inc. (FSC), an affiliate of the investment adviser, maintains the Fund's accounting records. The accounting fee is based on the level of average net assets for each month. Under a separate contract, FSC administers the security lending program. The security lending fee is based on the number and duration of lending transactions.

Brokerage Commissions.The Fund placed a portion of its portfolio transactions with brokerage firms which are affiliates of the investment adviser. Brokerage commissions are included in net realized gain (loss) and change in net unrealized appreciation (depreciation) in the Statement of Operations. The commissions paid to these affiliated firms were $104 for the period.

6. Committed Line of Credit.

The Fund participates with other funds managed by the investment adviser or an affiliate in a $4.25 billion credit facility (the "line of credit") to be utilized for temporary or emergency purposes to fund shareholder redemptions or for other short-term liquidity purposes. The Fund has agreed to pay commitment fees on its pro-rata portion of the line of credit, which amounted to $163 and is reflected in Miscellaneous expenses on the Statement of Operations. During the period, the Fund did not borrow on this line of credit.

7. Security Lending.

The Fund lends portfolio securities through a lending agent from time to time in order to earn additional income. For equity securities, a lending agent is used and may loan securities to certain qualified borrowers, including Fidelity Capital Markets (FCM), a broker-dealer affiliated with the Fund. On the settlement date of the loan, the Fund receives collateral (in the form of U.S. Treasury obligations, letters of credit and/or cash) against the loaned securities and maintains collateral in an amount not less than 100% of the market value of the loaned securities during the period of the loan. The market value of the loaned securities is determined at the close of business of the Fund and any additional required collateral is delivered to the Fund on the next business day. If the borrower defaults on its obligation to return the securities loaned because of insolvency or other reasons, the Fund may apply collateral received from the borrower against the obligation. The Fund may experience delays and costs in recovering the securities loaned. Any cash collateral received is invested in the Fidelity Securities Lending Cash Central Fund. The value of loaned securities and cash collateral at period end are disclosed on the Fund's Statement of Assets and Liabilities. Security lending income represents the income earned on investing cash collateral, less rebates paid to borrowers

Semiannual Report

7. Security Lending - continued

and any lending agent fees associated with the loan, plus any premium payments received for lending certain types of securities. Security lending income is presented in the Statement of Operations as a component of income from Fidelity Central Funds. Total security lending income during the period amounted to $48,874. During the period, there were no securities loaned to FCM.

8. Expense Reductions.

Commissions paid to certain brokers with whom the investment adviser, or its affiliates, places trades on behalf of the Fund include an amount in addition to trade execution, which may be rebated back to the Fund to offset certain expenses. This amount totaled $6,026 for the period.

In addition, the investment adviser reimbursed a portion of the Fund's operating expenses, including certain International Value expenses during the period in the amount of $278.

9. Distributions to Shareholders.

Distributions to shareholders of each class were as follows:

|                           | Six months ended 
April 30, 
2015 | Year ended 
October 31, 
2014
|-------------------------- | --------------------------------- | -----------------------------
|From net investment income |                                   |                              
|Class A                    | $	204,314                         | $	117,558                    
|Class T                    | 109,443                           | 63,542                       
|Class B                    | 8,373                             | 6,919                        
|Class C                    | 99,311                            | 40,539                       
|International Value        | 7,079,700                         | 3,926,459                    
|Institutional Class        | 52,790                            | 5,296                        
|Total                      | $	7,553,931                       | $	4,160,313                  
|From net realized gain     |                                   |                              
|Class A                    | $	-                               | $	9,681                      
|Class T                    | -                                 | 5,931                        
|Class B                    | -                                 | 1,042                        
|Class C                    | -                                 | 5,113                        
|International Value        | -                                 | 279,037                      
|Institutional Class        | -                                 | 388                          
|Total                      | $	-                               | $	301,192                    

Semiannual Report

Notes to Financial Statements (Unaudited) - continued

10. Share Transactions.

Share transactions for each class were as follows and may contain automatic conversions between classes or exchanges between funds:

|                              | Shares                           | Dollars                      
|----------------------------- | -------------------------------- | -----------------------------
|                              | Six months ended April 30, 
2015 | Year ended 
October 31, 
2014
|Class A                       |                                  |                              
|Shares sold                   | 263,322                          | 271,659                      
|Reinvestment of distributions | 23,604                           | 12,904                       
|Shares redeemed               | (139,987)                        | (245,285)                    
|Net increase (decrease)       | 146,939                          | 39,278                       
|Class T                       |                                  |                              
|Shares sold                   | 53,273                           | 79,778                       
|Reinvestment of distributions | 12,981                           | 7,900                        
|Shares redeemed               | (29,899)                         | (88,989)                     
|Net increase (decrease)       | 36,355                           | (1,311)                      
|Class B                       |                                  |                              
|Shares sold                   | 2,258                            | 1,662                        
|Reinvestment of distributions | 891                              | 756                          
|Shares redeemed               | (10,799)                         | (30,069)                     
|Net increase (decrease)       | (7,650)                          | (27,651)                     
|Class C                       |                                  |                              
|Shares sold                   | 93,384                           | 107,427                      
|Reinvestment of distributions | 10,999                           | 4,784                        
|Shares redeemed               | (38,322)                         | (49,408)                     
|Net increase (decrease)       | 66,061                           | 62,803                       
|International Value           |                                  |                              
|Shares sold                   | 1,378,533                        | 5,177,049                    
|Reinvestment of distributions | 823,202                          | 470,965                      
|Shares redeemed               | (2,110,868)                      | (3,570,903)                  
|Net increase (decrease)       | 90,867                           | 2,077,111                    
|Institutional Class           |                                  |                              
|Shares sold                   | 381,429                          | 140,760                      
|Reinvestment of distributions | 5,275                            | 394                          
|Shares redeemed               | (29,270)                         | (16,367)                     
|Net increase (decrease)       | 357,434                          | 124,787                      

Semiannual Report

11. Other.

The Fund's organizational documents provide former and current trustees and officers with a limited indemnification against liabilities arising in connection with the performance of their duties to the Fund. In the normal course of business, the Fund may also enter into contracts that provide general indemnifications. The Fund's maximum exposure under these arrangements is unknown as this would be dependent on future claims that may be made against the Fund. The risk of material loss from such claims is considered remote.

At the end of the period, Strategic Advisers International II Fund, was the owner of record of approximately 36% of the total outstanding shares of the Fund. Mutual funds managed by the investment adviser or its affiliates were the owners of record, in the aggregate, of approximately 49% of the total outstanding shares of the Fund.

Semiannual Report

Investment Adviser

Fidelity Management & Research Company
Boston, MA

Investment Sub-Advisers

FMR Co., Inc.

FMR Investment Management
(U.K.) Limited

Fidelity Management & Research
(Hong Kong) Limited

Fidelity Management & Research
(Japan) Limited

FIL Investment Advisors

FIL Investment Advisors (U.K.) Limited

FIL Investments (Japan) Limited

General Distributor

Fidelity Distributors Corporation

Smithfield, RI

Transfer and Service Agents

Fidelity Investments Institutional Operations Company, Inc.

Boston, MA

Fidelity Service Company, Inc.

Boston, MA

Custodian

The Northern Trust Company

Chicago, IL



(Fidelity Investment logo)(registered trademark)

`AFIVI-USAN-0615
1.827491.108`

Fidelity®

International Value

Fund

Semiannual Report

April 30, 2015(Fidelity Cover Art)

---

# Contents

|Shareholder Expense Example | (Click Here) | An example of shareholder expenses.                                                                          
|--------------------------- | ------------ | -------------------------------------------------------------------------------------------------------------
|Investment Changes          | (Click Here) | A summary of major shifts in the fund's investments over the past six months.                                
|Investments                 | (Click Here) | A complete list of the fund's investments with their market values.                                          
|Financial Statements        | (Click Here) | Statements of assets and liabilities, operations, and changes in net assets, as well as financial highlights.
|Notes                       | (Click Here) | Notes to financial statements.                                                                               

To view a fund's proxy voting guidelines and proxy voting record for the 12-month period ended June 30, visit http://www.fidelity.com/proxyvotingresults or visit the Securities and Exchange Commission's (SEC) web site at http://www.sec.gov. You may also call 1-800-544-8544 to request a free copy of the proxy voting guidelines.

Standard & Poor's, S&P and S&P 500 are registered service marks of The McGraw-Hill Companies, Inc. and have been licensed for use by Fidelity Distributors Corporation.

Other third-party marks appearing herein are the property of their respective owners.

All other marks appearing herein are registered or unregistered trademarks or service marks of FMR LLC or an affiliated company. © 2015 FMR LLC. All rights reserved.

This report and the financial statements contained herein are submitted for the general information of the shareholders of the fund. This report is not authorized for distribution to prospective investors in the fund unless preceded or accompanied by an effective prospectus.

A fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-Q. Forms N-Q are available on the SEC's web site at http://www.sec.gov.A fund's Forms N-Q may be reviewed and copied at the SEC's Public Reference Room in Washington, DC. Information regarding the operation of the SEC's Public Reference Room may be obtained by calling 1-800-SEC-0330. For a complete list of a fund's portfolio holdings, view the most recent holdings listing, semiannual report, or annual report on Fidelity's web site at http://www.fidelity.com, http://www.advisor.fidelity.com, or http://www.401k.com, as applicable.

NOT FDIC INSURED • MAY LOSE VALUE • NO BANK GUARANTEE

Neither the fund nor Fidelity Distributors Corporation is a bank.

Semiannual Report

---

# Shareholder Expense Example

As a shareholder of the Fund, you incur two types of costs: (1) transaction costs, including sales charges (loads) on purchase payments or redemption proceeds, redemption fees and (2) ongoing costs, including management fees, distribution and/or service (12b-1) fees and other Fund expenses. This Example is intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds.

The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (November 1, 2014 to April 30, 2015).

Actual Expenses

The first line of the accompanying table for each class of the Fund provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000.00 (for example, an $8,600 account value divided by $1,000.00 = 8.6), then multiply the result by the number in the first line for a class of the Fund under the heading entitled "Expenses Paid During Period" to estimate the expenses you paid on your account during this period. A small balance maintenance fee of $12.00 that is charged once a year may apply for certain accounts with a value of less than $2,000. This fee is not included in the table below. If it was, the estimate of expenses you paid during the period would be higher, and your ending account value lower, by this amount. In addition, the Fund, as a shareholder in the underlying Fidelity Central Funds, will indirectly bear its pro-rata share of the fees and expenses incurred by the underlying Fidelity Central Funds. These fees and expenses are not included in the Fund's annualized expense ratio used to calculate the expense estimate in the table below.

Hypothetical Example for Comparison Purposes

The second line of the accompanying table for each class of the Fund provides information about hypothetical account values and hypothetical expenses based on a Class' actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Class' actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds. A small balance maintenance fee of $12.00 that is charged once a year may apply for certain accounts with a value of less than $2,000. This fee is not included in the table below. If it was, the estimate of expenses you paid during the period would be higher, and your ending account value lower, by this amount. In addition, the Fund, as a shareholder in the underlying Fidelity Central Funds, will indirectly bear its pro-rata share of the fees and expenses incurred by the underlying Fidelity Central Funds. These fees and expenses are not included in the Fund's annualized expense ratio used to calculate the expense estimate in the table below.

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transaction costs. Therefore, the second line of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.

Semiannual Report

Shareholder Expense Example - continued

|                    | Annualized 
Expense RatioB | Beginning
Account Value
November 1, 2014 | Ending
Account Value
April 30, 2015 | Expenses Paid
During Period*November 1, 2014 to April 30, 2015
|------------------- | -------------------------- | ---------------------------------------- | ----------------------------------- | --------------------------------------------------------------
|Class A             | 1.42%                      |                                          |                                     |                                                               
|Actual              |                            | $	1,000.00                               | $	1,050.60                          | $	7.22                                                        
|HypotheticalA       |                            | $	1,000.00                               | $	1,017.75                          | $	7.10                                                        
|Class T             | 1.69%                      |                                          |                                     |                                                               
|Actual              |                            | $	1,000.00                               | $	1,049.10                          | $	8.59                                                        
|HypotheticalA       |                            | $	1,000.00                               | $	1,016.41                          | $	8.45                                                        
|Class B             | 2.18%                      |                                          |                                     |                                                               
|Actual              |                            | $	1,000.00                               | $	1,044.90                          | $	11.05                                                       
|HypotheticalA       |                            | $	1,000.00                               | $	1,013.98                          | $	10.89                                                       
|Class C             | 2.18%                      |                                          |                                     |                                                               
|Actual              |                            | $	1,000.00                               | $	1,046.30                          | $	11.06                                                       
|HypotheticalA       |                            | $	1,000.00                               | $	1,013.98                          | $	10.89                                                       
|International Value | 1.06%                      |                                          |                                     |                                                               
|Actual              |                            | $	1,000.00                               | $	1,052.40                          | $	5.39                                                        
|HypotheticalA       |                            | $	1,000.00                               | $	1,019.54                          | $	5.31                                                        
|Institutional Class | 1.17%                      |                                          |                                     |                                                               
|Actual              |                            | $	1,000.00                               | $	1,051.10                          | $	5.95                                                        
|HypotheticalA       |                            | $	1,000.00                               | $	1,018.99                          | $	5.86                                                        

A5% return per year before expenses

BAnnualized expense ratio reflects expenses net of applicable fee waivers.

*Expenses are equal to each Class' annualized expense ratio, multiplied by the average account value over the period, multiplied by 181/365 (to reflect the one-half year period).

Semiannual Report

---

# Investment Changes (Unaudited)

|Geographic Diversification (% of fund's net assets)
|---------------------------------------------------
|As of April 30, 2015                               
|int897                                             
|int899                                             
|int901                                             
|int903                                             
|int905                                             
|int907                                             
|int909                                             
|int911                                             
|int913                                             
|int915                                             

int917

|*Includes short-term investments and net other assets (liabilities)                                                                
|-----------------------------------------------------------------------------------------------------------------------------------
|Percentages are based on country or territory of incorporation and are adjusted for the effect of futures contracts, if applicable.

|As of October 31, 2014
|----------------------
|int919                
|int921                
|int923                
|int925                
|int927                
|int929                
|int931                
|int933                
|int935                
|int937                

int939

|*Includes short-term investments and net other assets (liabilities)                                                                
|-----------------------------------------------------------------------------------------------------------------------------------
|Percentages are based on country or territory of incorporation and are adjusted for the effect of futures contracts, if applicable.

|Asset Allocation as of April 30, 2015                                                 
|--------------------------------------------------------------------------------------
|                                                                                      
|Stocks                                                                                
|Short-Term Investments and Net Other Assets (Liabilities)                             
|Top Ten Stocks as of April 30, 2015                                                   
|                                                                                      
|Total SA (France, Oil, Gas & Consumable Fuels)                                        
|BP PLC sponsored ADR (United Kingdom, Oil, Gas & Consumable Fuels)                    
|Toyota Motor Corp. (Japan, Automobiles)                                               
|Mitsubishi UFJ Financial Group, Inc. (Japan, Banks)                                   
|Sanofi SA (France, Pharmaceuticals)                                                   
|HSBC Holdings PLC sponsored ADR (United Kingdom, Banks)                               
|Nestle SA (Switzerland, Food Products)                                                
|Vodafone Group PLC sponsored ADR (United Kingdom, Wireless Telecommunication Services)
|Westpac Banking Corp. (Australia, Banks)                                              
|BASF AG (Germany, Chemicals)                                                          
|                                                                                      
|Market Sectors as of April 30, 2015                                                   
|                                                                                      
|Financials                                                                            
|Consumer Discretionary                                                                
|Health Care                                                                           
|Industrials                                                                           
|Consumer Staples                                                                      
|Telecommunication Services                                                            
|Energy                                                                                
|Information Technology                                                                
|Materials                                                                             
|Utilities                                                                             

Semiannual Report

---

# Investments April 30, 2015 (Unaudited)

Showing Percentage of Net Assets

|Common Stocks - 98.1%                                      
|-----------------------------------------------------------
|                                                           
|Australia - 4.6%                                           
|Ansell Ltd.                                                
|Australia & New Zealand Banking Group Ltd.                 
|Telstra Corp. Ltd.                                         
|Transurban Group unit                                      
|Westpac Banking Corp.                                      
|TOTAL AUSTRALIA                                            
|Bailiwick of Jersey - 1.8%                                 
|Shire PLC                                                  
|Wolseley PLC                                               
|TOTAL BAILIWICK OF JERSEY                                  
|Belgium - 0.6%                                             
|Anheuser-Busch InBev SA NV                                 
|Bermuda - 0.2%                                             
|Travelport Worldwide Ltd. (d)                              
|Canada - 1.1%                                              
|Imperial Oil Ltd.                                          
|Potash Corp. of Saskatchewan, Inc.                         
|TOTAL CANADA                                               
|Denmark - 0.4%                                             
|Topdanmark A/S (a)                                         
|Finland - 1.1%                                             
|Sampo Oyj (A Shares)                                       
|France - 14.8%                                             
|Atos Origin SA                                             
|AXA SA                                                     
|Cap Gemini SA                                              
|Havas SA                                                   
|Orange SA                                                  
|Renault SA                                                 
|Sanofi SA                                                  
|Societe Generale Series A                                  
|Total SA                                                   
|Unibail-Rodamco                                            
|VINCI SA                                                   
|Vivendi SA                                                 
|TOTAL FRANCE                                               
|Germany - 5.2%                                             
|BASF AG (d)                                                
|Common Stocks - continued                                  
|                                                           
|Germany - continued                                        
|Bayer AG                                                   
|Continental AG                                             
|Fresenius SE & Co. KGaA                                    
|GEA Group AG                                               
|TOTAL GERMANY                                              
|Ireland - 1.2%                                             
|Actavis PLC (a)                                            
|Israel - 1.3%                                              
|Teva Pharmaceutical Industries Ltd. sponsored ADR          
|Italy - 2.0%                                               
|Intesa Sanpaolo SpA                                        
|Mediaset SpA                                               
|Telecom Italia SpA (a)                                     
|TOTAL ITALY                                                
|Japan - 20.4%                                              
|Astellas Pharma, Inc.                                      
|Dentsu, Inc.                                               
|East Japan Railway Co.                                     
|Fujitsu Ltd.                                               
|Hitachi Ltd.                                               
|Hoya Corp.                                                 
|Itochu Corp.                                               
|Japan Tobacco, Inc.                                        
|KDDI Corp.                                                 
|Makita Corp.                                               
|Mitsubishi UFJ Financial Group, Inc.                       
|Nippon Prologis REIT, Inc.                                 
|Nippon Telegraph & Telephone Corp.                         
|OMRON Corp.                                                
|ORIX Corp.                                                 
|Seven & i Holdings Co. Ltd.                                
|Seven Bank Ltd.                                            
|Sony Financial Holdings, Inc.                              
|Sumitomo Mitsui Trust Holdings, Inc.                       
|Toyota Motor Corp.                                         
|TOTAL JAPAN                                                
|Korea (South) - 0.5%                                       
|Samsung Electronics Co. Ltd.                               
|Common Stocks - continued                                  
|                                                           
|Luxembourg - 0.5%                                          
|RTL Group SA                                               
|Netherlands - 2.9%                                         
|ING Groep NV (Certificaten Van Aandelen)                   
|Mylan N.V. (a)                                             
|Reed Elsevier NV                                           
|TOTAL NETHERLANDS                                          
|Singapore - 1.5%                                           
|Singapore Telecommunications Ltd.                          
|UOL Group Ltd.                                             
|TOTAL SINGAPORE                                            
|Spain - 1.8%                                               
|Iberdrola SA                                               
|Mediaset Espana Comunicacion, S.A.                         
|TOTAL SPAIN                                                
|Sweden - 1.3%                                              
|Nordea Bank AB                                             
|Switzerland - 6.8%                                         
|Nestle SA                                                  
|Novartis AG                                                
|Roche Holding AG (participation certificate)               
|Syngenta AG (Switzerland)                                  
|UBS Group AG                                               
|Zurich Insurance Group AG                                  
|TOTAL SWITZERLAND                                          
|United Kingdom - 24.9%                                     
|AstraZeneca PLC (United Kingdom)                           
|Aviva PLC                                                  
|BAE Systems PLC                                            
|Barclays PLC                                               
|BG Group PLC                                               
|BP PLC sponsored ADR                                       
|Bunzl PLC                                                  
|Compass Group PLC                                          
|HSBC Holdings PLC sponsored ADR                            
|Imperial Tobacco Group PLC                                 
|Informa PLC                                                
|ITV PLC                                                    
|Johnson Matthey PLC                                        
|Common Stocks - continued                                  
|                                                           
|United Kingdom - continued                                 
|Liberty Global PLC Class A (a)                             
|Lloyds Banking Group PLC                                   
|Meggitt PLC                                                
|Micro Focus International PLC                              
|National Grid PLC                                          
|Prudential PLC                                             
|Rio Tinto PLC                                              
|Standard Chartered PLC (United Kingdom)                    
|Tesco PLC                                                  
|Vodafone Group PLC sponsored ADR                           
|TOTAL UNITED KINGDOM                                       
|United States of America - 3.2%                            
|Altria Group, Inc.                                         
|Constellation Brands, Inc. Class A (sub. vtg.) (a)         
|Energizer Holdings, Inc.                                   
|McGraw Hill Financial, Inc.                                
|ResMed, Inc. CDI                                           
|TOTAL UNITED STATES OF AMERICA                             
|TOTAL COMMON STOCKS
(Cost $198,440,368)                    
|Nonconvertible Preferred Stocks - 1.1%                     
|                                                           
|Germany - 1.1%                                             
|Volkswagen AG
(Cost $2,072,501)                            
|Money Market Funds - 1.8%                                  
|                                                           
|Fidelity Cash Central Fund, 0.15% (b)                      
|Fidelity Securities Lending Cash Central Fund, 0.17% (b)(c)
|TOTAL MONEY MARKET FUNDS
(Cost $3,946,573)                 
|TOTAL INVESTMENT PORTFOLIO - 101.0%
(Cost $204,459,442)    
|NET OTHER ASSETS (LIABILITIES) - (1.0)%                    
|NET ASSETS - 100%                                          

|Legend                                                                                                                                                                                                                                                                                                                                                                                                                                           
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|(a)	Non-income producing                                                                                                                                                                                                                                                                                                                                                                                                                         
|(b)	Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.
|(c)	Investment made with cash collateral received from securities on loan.                                                                                                                                                                                                                                                                                                                                                                       
|(d)	Security or a portion of the security is on loan at period end.                                                                                                                                                                                                                                                                                                                                                                              
|Affiliated Central Funds                                                                                                                                                                                                                                                                                                                                                                                                                         
|Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:                                                                                                                                                                                                                                                                                                                    

|Fund                                          | Income earned
|--------------------------------------------- | -------------
|Fidelity Cash Central Fund                    | $	1,224      
|Fidelity Securities Lending Cash Central Fund | 48,874       
|Total                                         | $	50,098     

|Other Information                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|Categorizations in the Schedule of Investments are based on country or territory of incorporation.                                                                                                                                                                                                                                                                                                                                                                                             
|The following is a summary of the inputs used, as of April 30, 2015, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the tables below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

|Valuation Inputs at Reporting Date:
|-----------------------------------
|Description                        
|Investments in Securities:         
|Equities:                          
|Consumer Discretionary             
|Consumer Staples                   
|Energy                             
|Financials                         
|Health Care                        
|Industrials                        
|Information Technology             
|Materials                          
|Telecommunication Services         
|Utilities                          
|Money Market Funds                 
|Total Investments in Securities:   

|The following is a summary of transfers between Level 1 and Level 2 for the period ended April 30, 2015. Transfers are assumed to have occurred at the beginning of the period, and are primarily attributable to the valuation techniques used for foreign equity securities, as discussed in the accompanying Notes to Financial Statements:
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|Transfers          | Total       
|------------------ | ------------
|Level 1 to Level 2 | $	47,358,875
|Level 2 to Level 1 | 9,596,309   

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

---

# Financial Statements

## Statement of Assets and Liabilities

|                                                                                                                                                     | April 30, 2015 (Unaudited)
|---------------------------------------------------------------------------------------------------------------------------------------------------- | --------------------------
|                                                                                                                                                     |                           
|Assets                                                                                                                                               |                           
|Investment in securities, at value (including securities loaned of $3,153,782) - See accompanying schedule:
Unaffiliated issuers (cost $200,512,869) | $	215,220,357             
|Fidelity Central Funds (cost $3,946,573)                                                                                                             | 3,946,573                 
|Total Investments (cost $204,459,442)                                                                                                                |                           
|Cash                                                                                                                                                 |                           
|Receivable for investments sold                                                                                                                      |                           
|Receivable for fund shares sold                                                                                                                      |                           
|Dividends receivable                                                                                                                                 |                           
|Distributions receivable from Fidelity Central Funds                                                                                                 |                           
|Prepaid expenses                                                                                                                                     |                           
|Other receivables                                                                                                                                    |                           
|Total assets                                                                                                                                         |                           
|                                                                                                                                                     |                           
|Liabilities                                                                                                                                          |                           
|Payable for investments purchased                                                                                                                    | $	857,698                 
|Payable for fund shares redeemed                                                                                                                     | 65,509                    
|Accrued management fee                                                                                                                               | 120,319                   
|Distribution and service plan fees payable                                                                                                           | 6,988                     
|Other affiliated payables                                                                                                                            | 43,396                    
|Other payables and accrued expenses                                                                                                                  | 46,249                    
|Collateral on securities loaned, at value                                                                                                            | 3,307,000                 
|Total liabilities                                                                                                                                    |                           
|                                                                                                                                                     |                           
|Net Assets                                                                                                                                           |                           
|Net Assets consist of:                                                                                                                               |                           
|Paid in capital                                                                                                                                      |                           
|Undistributed net investment income                                                                                                                  |                           
|Accumulated undistributed net realized gain (loss) on investments and foreign currency transactions                                                  |                           
|Net unrealized appreciation (depreciation) on investments and assets and liabilities in foreign currencies                                           |                           
|Net Assets                                                                                                                                           |                           

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

Financial Statements - continued

## Statement of Assets and Liabilities - continued

|                                                                                                                           | April 30, 2015 (Unaudited)
|-------------------------------------------------------------------------------------------------------------------------- | --------------------------
|                                                                                                                           |                           
|Calculation of Maximum Offering Price
Class A:
Net Asset Valueand redemption price per share ($7,681,935 ÷ 877,020 shares) |                           
|                                                                                                                           |                           
|Maximum offering price per share (100/94.25 of $8.76)                                                                      |                           
|Class T:
Net Asset Value and redemption price per share ($3,984,244 ÷ 455,252 shares)                                      |                           
|                                                                                                                           |                           
|Maximum offering price per share (100/96.50 of $8.75)                                                                      |                           
|Class B:
Net Asset Value and offering price per share ($356,264 ÷ 40,189 shares)A                                          |                           
|                                                                                                                           |                           
|Class C:
Net Asset Value and offering price per share ($4,291,579 ÷ 490,524 shares)A                                       |                           
|                                                                                                                           |                           
|International Value:
Net Asset Value, offering price and redemption price per share ($196,167,458 ÷ 22,404,072 shares)     |                           
|                                                                                                                           |                           
|Institutional Class:
Net Asset Value, offering price and redemption price per share ($4,458,723 ÷ 508,877 shares)          |                           

ARedemption price per share is equal to net asset value less any applicable contingent deferred sales charge.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Statement of Operations

|Six months ended April 30, 2015 (Unaudited)                                   
|------------------------------------------------------------------------------
|                                                                              
|Investment Income                                                             
|Dividends                                                                     
|Income from Fidelity Central Funds                                            
|Income before foreign taxes withheld                                          
|Less foreign taxes withheld                                                   
|Total income                                                                  
|                                                                              
|Expenses                                                                      
|Management fee
Basic fee                                                      
|Performance adjustment                                                        
|Transfer agent fees                                                           
|Distribution and service plan fees                                            
|Accounting and security lending fees                                          
|Custodian fees and expenses                                                   
|Independent trustees' compensation                                            
|Registration fees                                                             
|Audit                                                                         
|Legal                                                                         
|Miscellaneous                                                                 
|Total expenses before reductions                                              
|Expense reductions                                                            
|Net investment income (loss)                                                  
|Realized and Unrealized Gain (Loss)
Net realized gain (loss) on:              
|Investment securities:                                                        
|Unaffiliated issuers                                                          
|Foreign currency transactions                                                 
|Total net realized gain (loss)                                                
|Change in net unrealized appreciation (depreciation) on:
Investment securities
|Assets and liabilities in foreign currencies                                  
|Total change in net unrealized appreciation (depreciation)                    
|Net gain (loss)                                                               
|Netincrease (decrease) in net assets resulting from operations                

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

Financial Statements - continued

## Statement of Changes in Net Assets

|                                                                                                                                                | Six months ended April 30, 2015 (Unaudited) | Year ended 
October 31, 
2014
|----------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------------------- | -----------------------------
|Increase (Decrease) in Net Assets                                                                                                               |                                             |                              
|Operations                                                                                                                                      |                                             |                              
|Net investment income (loss)                                                                                                                    | $	2,060,170                                 | $	7,699,402                  
|Net realized gain (loss)                                                                                                                        | (4,478,651)                                 | 12,080,123                   
|Change in net unrealized appreciation (depreciation)                                                                                            | 13,085,069                                  | (23,435,459)                 
|Netincrease (decrease) in net assets resulting from operations                                                                                  | 10,666,588                                  | (3,655,934)                  
|Distributions to shareholders from net investment income                                                                                        | (7,553,931)                                 | (4,160,313)                  
|Distributions to shareholders from net realized gain                                                                                            | -                                           | (301,192)                    
|Total distributions                                                                                                                             | (7,553,931)                                 | (4,461,505)                  
|Share transactions - net increase (decrease)                                                                                                    | 5,766,788                                   | 20,511,129                   
|Redemption fees                                                                                                                                 | 647                                         | 1,150                        
|Total increase (decrease) in net assets                                                                                                         | 8,880,092                                   | 12,394,840                   
|                                                                                                                                                |                                             |                              
|Net Assets                                                                                                                                      |                                             |                              
|Beginning of period                                                                                                                             | 208,060,111                                 | 195,665,271                  
|End of period (including undistributed net investment income of $1,561,185 and undistributed net investment income of $7,054,946, respectively) | $	216,940,203                               | $	208,060,111                

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - Class A

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | Six months ended April 30, 2015 | Years ended October 31,
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------- | -----------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | (Unaudited)                     | 2014                   
|Selected Per-Share Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                                 |                        
|Net asset value, beginning of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | $	8.62                          | $	8.96                 
|Income from Investment Operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |                                 |                        
|Net investment income (loss)E                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | .07                             | .31H                   
|Net realized and unrealized gain (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | .35                             | (.47)                  
|Total from investment operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | .42                             | (.16)                  
|Distributions from net investment income                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | (.28)                           | (.17)                  
|Distributions from net realized gain                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | -                               | (.01)                  
|Total distributions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | (.28)                           | (.18)                  
|Redemption fees added to paid in capitalE, J                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | -                               | -                      
|Net asset value, end of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | $	8.76                          | $	8.62                 
|Total ReturnB, C, D                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | 5.06%                           | (1.76)%                
|Ratios to Average Net AssetsF, I                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                                 |                        
|Expenses before reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | 1.42%A                          | 1.32%                  
|Expenses net of fee waivers, if any                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | 1.42%A                          | 1.32%                  
|Expenses net of all reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | 1.41%A                          | 1.32%                  
|Net investment income (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | 1.67%A                          | 3.44%H                 
|Supplemental Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |                                 |                        
|Net assets, end of period (000 omitted)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | $	7,682                         | $	6,296                
|Portfolio turnover rateG                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | 51%A                            | 69%                    
|AAnnualizedBTotal returns for periods of less than one year are not annualized.CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.DTotal returns do not include the effect of the sales charges.ECalculated based on average shares outstanding during the period.FFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.GAmount does not include the portfolio activity of any underlying Fidelity Central Funds.HInvestment income per share reflects a large, non-recurring dividend which amounted to $.14 per share. Excluding this non-recurring dividend, the ratio of net investment income (loss) to average net assets would have been 1.90%.IExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.JAmount represents less than $.01 per share.KTotal distributions of $.23 per share is comprised of distributions from net investment income of $.191 and distributions from net realized gain of $.034 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - Class T

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | Six months ended April 30, 2015 | Years ended October 31,
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------- | -----------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | (Unaudited)                     | 2014                   
|Selected Per-Share Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                                 |                        
|Net asset value, beginning of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | $	8.60                          | $	8.94                 
|Income from Investment Operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |                                 |                        
|Net investment income (loss)E                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | .06                             | .28H                   
|Net realized and unrealized gain (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | .35                             | (.46)                  
|Total from investment operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | .41                             | (.18)                  
|Distributions from net investment income                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | (.26)                           | (.15)                  
|Distributions from net realized gain                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | -                               | (.01)                  
|Total distributions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | (.26)                           | (.16)                  
|Redemption fees added to paid in capitalE, J                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | -                               | -                      
|Net asset value, end of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | $	8.75                          | $	8.60                 
|Total ReturnB, C, D                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | 4.91%                           | (1.99)%                
|Ratios to Average Net AssetsF, I                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                                 |                        
|Expenses before reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | 1.69%A                          | 1.59%                  
|Expenses net of fee waivers, if any                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | 1.69%A                          | 1.59%                  
|Expenses net of all reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | 1.69%A                          | 1.59%                  
|Net investment income (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | 1.39%A                          | 3.17%H                 
|Supplemental Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |                                 |                        
|Net assets, end of period (000 omitted)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | $	3,984                         | $	3,604                
|Portfolio turnover rateG                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | 51%A                            | 69%                    
|AAnnualizedBTotal returns for periods of less than one year are not annualized.CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.DTotal returns do not include the effect of the sales charges.ECalculated based on average shares outstanding during the period.FFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.GAmount does not include the portfolio activity of any underlying Fidelity Central Funds.HInvestment income per share reflects a large, non-recurring dividend which amounted to $.14 per share. Excluding this non-recurring dividend, the ratio of net investment income (loss) to average net assets would have been 1.64%.IExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.JAmount represents less than $.01 per share.KTotal distributions of $.21 per share is comprised of distributions from net investment income of $.173 and distributions from net realized gain of $.034 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - Class B

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | Six months ended April 30, 2015 | Years ended October 31,
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------- | -----------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | (Unaudited)                     | 2014                   
|Selected Per-Share Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |                                 |                        
|Net asset value, beginning of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | $	8.66                          | $	8.98                 
|Income from Investment Operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |                                 |                        
|Net investment income (loss)E                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | .04                             | .24H                   
|Net realized and unrealized gain (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | .34                             | (.45)                  
|Total from investment operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | .38                             | (.21)                  
|Distributions from net investment income                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | (.18)                           | (.09)                  
|Distributions from net realized gain                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | -                               | (.01)                  
|Total distributions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | (.18)                           | (.11)L                 
|Redemption fees added to paid in capitalE, J                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | -                               | -                      
|Net asset value, end of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | $	8.86                          | $	8.66                 
|Total ReturnB, C, D                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | 4.49%                           | (2.39)%                
|Ratios to Average Net AssetsF, I                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |                                 |                        
|Expenses before reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | 2.18%A                          | 2.08%                  
|Expenses net of fee waivers, if any                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | 2.18%A                          | 2.08%                  
|Expenses net of all reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | 2.17%A                          | 2.08%                  
|Net investment income (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | .91%A                           | 2.68%H                 
|Supplemental Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |                                 |                        
|Net assets, end of period (000 omitted)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | $	356                           | $	414                  
|Portfolio turnover rateG                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | 51%A                            | 69%                    
|AAnnualizedBTotal returns for periods of less than one year are not annualized.CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.DTotal returns do not include the effect of the contingent deferred sales charge.ECalculated based on average shares outstanding during the period.FFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.GAmount does not include the portfolio activity of any underlying Fidelity Central Funds.HInvestment income per share reflects a large, non-recurring dividend which amounted to $.14 per share. Excluding this non-recurring dividend, the ratio of net investment income (loss) to average net assets would have been 1.15%.IExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.JAmount represents less than $.01 per share.KTotal distributions of $.17 per share is comprised of distributions from net investment income of $.131 and distributions from net realized gain of $.034 per share.LTotal distributions of $.11 per share is comprised of distributions from net investment income of $.093 and distributions from net realized gain of $.014 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - Class C

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | Six months ended April 30, 2015 | Years ended October 31,
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ------------------------------- | -----------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | (Unaudited)                     | 2014                   
|Selected Per-Share Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                                 |                        
|Net asset value, beginning of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | $	8.59                          | $	8.93                 
|Income from Investment Operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |                                 |                        
|Net investment income (loss)E                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | .04                             | .24H                   
|Net realized and unrealized gain (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | .35                             | (.45)                  
|Total from investment operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | .39                             | (.21)                  
|Distributions from net investment income                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | (.23)                           | (.11)                  
|Distributions from net realized gain                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | -                               | (.01)                  
|Total distributions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | (.23)                           | (.13)K                 
|Redemption fees added to paid in capitalE, J                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | -                               | -                      
|Net asset value, end of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | $	8.75                          | $	8.59                 
|Total ReturnB, C, D                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | 4.63%                           | (2.43)%                
|Ratios to Average Net AssetsF, I                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |                                 |                        
|Expenses before reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | 2.18%A                          | 2.07%                  
|Expenses net of fee waivers, if any                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | 2.18%A                          | 2.07%                  
|Expenses net of all reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | 2.17%A                          | 2.07%                  
|Net investment income (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | .91%A                           | 2.69%H                 
|Supplemental Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |                                 |                        
|Net assets, end of period (000 omitted)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | $	4,292                         | $	3,647                
|Portfolio turnover rateG                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | 51%A                            | 69%                    
|AAnnualizedBTotal returns for periods of less than one year are not annualized.CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.DTotal returns do not include the effect of the contingent deferred sales charge.ECalculated based on average shares outstanding during the period.FFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.GAmount does not include the portfolio activity of any underlying Fidelity Central Funds.HInvestment income per share reflects a large, non-recurring dividend which amounted to $.14 per share. Excluding this non-recurring dividend, the ratio of net investment income (loss) to average net assets would have been 1.15%.IExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.JAmount represents less than $.01 per share.KTotal distributions of $.13 per share is comprised of distributions from net investment income of $.111 and distributions from net realized gain of $.014 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - International Value

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | Six months ended April 30, 2015 | Years ended October 31,
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ------------------------------- | -----------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | (Unaudited)                     | 2014                   
|Selected Per-Share Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                                 |                        
|Net asset value, beginning of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | $	8.64                          | $	8.97                 
|Income from Investment Operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                                 |                        
|Net investment income (loss)D                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | .09                             | .34G                   
|Net realized and unrealized gain (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | .35                             | (.46)                  
|Total from investment operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | .44                             | (.12)                  
|Distributions from net investment income                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | (.32)                           | (.20)                  
|Distributions from net realized gain                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | -                               | (.01)                  
|Total distributions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | (.32)                           | (.21)                  
|Redemption fees added to paid in capitalD, I                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | -                               | -                      
|Net asset value, end of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | $	8.76                          | $	8.64                 
|Total ReturnB, C                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | 5.24%                           | (1.34)%                
|Ratios to Average Net AssetsE, H                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |                                 |                        
|Expenses before reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | 1.06%A                          | .96%                   
|Expenses net of fee waivers, if any                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | 1.06%A                          | .96%                   
|Expenses net of all reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | 1.06%A                          | .95%                   
|Net investment income (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | 2.02%A                          | 3.80%G                 
|Supplemental Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                                 |                        
|Net assets, end of period (000 omitted)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $	196,167                       | $	192,789              
|Portfolio turnover rateF                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | 51%A                            | 69%                    
|AAnnualizedBTotal returns for periods of less than one year are not annualized.CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.DCalculated based on average shares outstanding during the period.EFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.FAmount does not include the portfolio activity of any underlying Fidelity Central Funds.GInvestment income per share reflects a large, non-recurring dividend which amounted to $.14 per share. Excluding this non-recurring dividend, the ratio of net investment income (loss) to average net assets would have been 2.27%.HExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.IAmount represents less than $.01 per share.JTotal distributions of $.13 per share is comprised of distributions from net investment income of $.129 and distributions from net realized gain of $.005 per share.KTotal distributions of $.27 per share is comprised of distributions from net investment income of $.223 and distributions from net realized gain of $.042 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - Institutional Class

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | Six months ended April 30, 2015 | Years ended October 31,
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------- | -----------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | (Unaudited)                     | 2014                   
|Selected Per-Share Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |                                 |                        
|Net asset value, beginning of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | $	8.65                          | $	8.98                 
|Income from Investment Operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |                                 |                        
|Net investment income (loss)D                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | .08                             | .33G                   
|Net realized and unrealized gain (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | .35                             | (.45)                  
|Total from investment operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | .43                             | (.12)                  
|Distributions from net investment income                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | (.32)                           | (.19)                  
|Distributions from net realized gain                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | -                               | (.01)                  
|Total distributions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | (.32)                           | (.21)L                 
|Redemption fees added to paid in capitalD, I                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | -                               | -                      
|Net asset value, end of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $	8.76                          | $	8.65                 
|Total ReturnB, C                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | 5.11%                           | (1.41)%                
|Ratios to Average Net AssetsE, H                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                                 |                        
|Expenses before reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | 1.17%A                          | 1.05%                  
|Expenses net of fee waivers, if any                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | 1.17%A                          | 1.05%                  
|Expenses net of all reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | 1.17%A                          | 1.04%                  
|Net investment income (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | 1.92%A                          | 3.71%G                 
|Supplemental Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |                                 |                        
|Net assets, end of period (000 omitted)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | $	4,459                         | $	1,310                
|Portfolio turnover rateF                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | 51%A                            | 69%                    
|AAnnualizedBTotal returns for periods of less than one year are not annualized.CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.DCalculated based on average shares outstanding during the period.EFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.FAmount does not include the portfolio activity of any underlying Fidelity Central Funds.GInvestment income per share reflects a large, non-recurring dividend which amounted to $.14 per share. Excluding this non-recurring dividend, the ratio of net investment income (loss) to average net assets would have been 2.18%.HExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.IAmount represents less than $.01 per share.JTotal distributions of $.14 per share is comprised of distributions from net investment income of $.137 and distributions from net realized gain of $.005 per share.KTotal distributions of $.26 per share is comprised of distributions from net investment income of $.221 and distributions from net realized gain of $.034 per share.LTotal distributions of $.21 per share is comprised of distributions from net investment income of $.191 and distributions from net realized gain of $.014 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

---

# Notes to Financial Statements

For the period ended April 30, 2015 (Unaudited)

1. Organization.

Fidelity® International Value Fund (the Fund) is a fund of Fidelity Investment Trust (the Trust) and is authorized to issue an unlimited number of shares. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Massachusetts business trust. The Fund offers Class A, Class T, Class C, International Value and Institutional Class shares, each of which, along with Class B shares, has equal rights as to assets and voting privileges. Class B shares are closed to new accounts and additional purchases, except for exchanges and reinvestments. Each class has exclusive voting rights with respect to matters that affect that class. Class B shares will automatically convert to Class A shares after a holding period of seven years from the initial date of purchase.

2. Investments in Fidelity Central Funds.

The Fund invests in Fidelity Central Funds, which are open-end investment companies generally available only to other investment companies and accounts managed by the investment adviser and its affiliates. The Fund's Schedule of Investments lists each of the Fidelity Central Funds held as of period end, if any, as an investment of the Fund, but does not include the underlying holdings of each Fidelity Central Fund. As an Investing Fund, the Fund indirectly bears its proportionate share of the expenses of the underlying Fidelity Central Funds.

The Money Market Central Funds seek preservation of capital and current income and are managed by Fidelity Investments Money Management, Inc. (FIMM), an affiliate of the investment adviser. Annualized expenses of the Money Market Central Funds as of their most recent shareholder report date are less than .01%.

A complete unaudited list of holdings for each Fidelity Central Fund is available upon request or at the Securities and Exchange Commission (the SEC) website at www.sec.gov. In addition, the financial statements of the Fidelity Central Funds are available on the SEC website or upon request.

3. Significant Accounting Policies.

The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP), which require management to make certain estimates and assumptions at the date of the financial statements. Actual results could differ from those estimates. Subsequent events, if any, through the date that the financial statements were issued have been evaluated in the preparation of

Semiannual Report

Notes to Financial Statements (Unaudited) - continued

3. Significant Accounting Policies - continued

the financial statements. The following summarizes the significant accounting policies of the Fund:

Investment Valuation.Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. The Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fidelity Management & Research Company (FMR) Fair Value Committee (the Committee). In accordance with valuation policies and procedures approved by the Board, the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund's valuation policies and procedures and reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee.

The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels as shown below:

Level 1 - quoted prices in active markets for identical investments

Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, etc.)

Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available)

Valuation techniques used to value the Fund's investments by major category are as follows:

Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing vendor on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. Utilizing these techniques may result in transfers between Level 1 and Level 2.

Semiannual Report

3. Significant Accounting Policies - continued

Investment Valuation - continued

For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy.

Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy.

Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. The aggregate value of investments by input level, as of April 30, 2015, including information on transfers between Levels 1 and 2, is included at the end of the Fund's Schedule of Investments.

Foreign Currency.The Fund may use foreign currency contracts to facilitate transactions in foreign-denominated securities. Gains and losses from these transactions may arise from changes in the value of the foreign currency or if the counterparties do not perform under the contracts' terms.

Foreign-denominated assets, including investment securities, and liabilities are translated into U.S. dollars at the exchange rates at period end. Purchases and sales of investment securities, income and dividends received and expenses denominated in foreign currencies are translated into U.S. dollars at the exchange rate in effect on the transaction date.

The effects of exchange rate fluctuations on investments are included with the net realized and unrealized gain (loss) on investment securities. Other foreign currency transactions resulting in realized and unrealized gain (loss) are disclosed separately.

Investment Transactions and Income.For financial reporting purposes, the Fund's investment holdings and NAV include trades executed through the end of the last business day of the period. The NAV per share for processing shareholder transactions is calculated as of the close of business of the New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time and includes trades executed through the end of the prior business day. Gains and losses on securities sold are determined on the basis of identified cost. Dividend income is recorded on the ex-dividend date, except for certain dividends from foreign securities where the ex-dividend date may have passed, which are recorded as soon as the Fund is informed of the ex-dividend date. Non-cash dividends included in dividend income, if any, are recorded at the fair market value of the securities received. Income and capital gain distributions from Fidelity Central Funds, if any, are recorded on the ex-dividend date. Distributions received on securities that represent a return of

Semiannual Report

Notes to Financial Statements (Unaudited) - continued

3. Significant Accounting Policies - continued

Investment Transactions and Income - continued

capital or capital gain are recorded as a reduction of cost of investments and/or as a realized gain. Subsequent to ex-dividend date the Fund determines the components of these distributions, based upon receipt of tax filings or other correspondence relating to the underlying investment. Investment income is recorded net of foreign taxes withheld where recovery of such taxes is uncertain.

Class Allocations andExpenses. Investment income, realized and unrealized capital gains and losses, common expenses of the Fund, and certain fund-level expense reductions, if any, are allocated daily on a pro-rata basis to each class based on the relative net assets of each class to the total net assets of the Fund. Each class differs with respect to transfer agent and distribution and service plan fees incurred. Certain expense reductions may also differ by class. For the reporting period, the allocated portion of income and expenses to each class as a percent of its average net assets may vary due to the timing of recording these transactions in relation to fluctuating net assets of the classes. Expenses directly attributable to a fund are charged to that fund. Expenses attributable to more than one fund are allocated among the respective funds on the basis of relative net assets or other appropriate methods. Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.

Income Tax Information and Distributions to Shareholders. Each year, the Fund intends to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code, including distributing substantially all of its taxable income and realized gains. As a result, no provision for U.S. Federal income taxes is required. The Fund files a U.S. federal tax return, in addition to state and local tax returns as required. The Fund's federal income tax returns are subject to examination by the Internal Revenue Service (IRS) for a period of three fiscal years after they are filed. State and local tax returns may be subject to examination for an additional fiscal year depending on the jurisdiction. Foreign taxes are provided for based on the Fund's understanding of the tax rules and rates that exist in the foreign markets in which it invests.

Distributions are declared and recorded on the ex-dividend date. Income dividends and capital gain distributions are declared separately for each class. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP.

Capital accounts within the financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations. Capital accounts are not adjusted for temporary book-tax differences which will reverse in a subsequent period.

Semiannual Report

3. Significant Accounting Policies - continued

Income Tax Information and Distributions to Shareholders - continued

Book-tax differences are primarily due to foreign currency transactions, passive foreign investment companies (PFIC), capital loss carryforwards and losses deferred due to wash sales.

The federal tax cost of investment securities and unrealized appreciation (depreciation) as of period end were as follows:

|Gross unrealized appreciation                            | $	23,354,025 
|-------------------------------------------------------- | -------------
|Gross unrealized depreciation                            | (9,016,625)  
|Net unrealized appreciation (depreciation) on securities | $	14,337,400 
|                                                         |              
|Tax cost                                                 | $	204,829,530

Capital loss carryforwards are only available to offset future capital gains of the Fund to the extent provided by regulations and may be limited. Under the Regulated Investment Company Modernization Act of 2010 (the Act), the Fund is permitted to carry forward capital losses incurred in taxable years beginning after December 22, 2010 for an unlimited period and such capital losses are required to be used prior to any losses that expire. The capital loss carryforward information presented below, including any applicable limitation, is estimated as of prior fiscal period end and is subject to adjustment.

|Fiscal year of expiration       |                
|------------------------------- | ---------------
|2016                            | $	(2,663,413)  
|2017                            | (65,376,972)   
|2018                            | (3,571,319)    
|2019                            | (31,368,797)   
|Total capital loss carryforward | $	(102,980,501)

Short-Term Trading (Redemption) Fees. Shares held by investors in the Fund less than 30 days may have been subject to a redemption fee equal to 1.00% of the NAV of shares redeemed. All redemption fees, which reduce the proceeds of the shareholder redemption, are retained by the Fund and accounted for as an addition to paid in capital.

New Accounting Pronouncement.In June 2014, the Financial Accounting Standards Board issued Accounting Standard Update No. 2014-11, Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures (the Update). The Update amends the accounting for certain repurchase agreements and expands disclosure requirements for reverse repurchase agreements, securities lending and other similar transactions. The disclosure requirements are effective for annual and interim reporting periods beginning after December 15, 2014. Management is currently evaluating the impact of the Update on the Fund's financial statements and related disclosures.

Semiannual Report

Notes to Financial Statements (Unaudited) - continued

4. Purchases and Sales of Investments.

Purchases and sales of securities, other than short-term securities, aggregated $53,883,205 and $53,026,265, respectively.

5. Fees and Other Transactions with Affiliates.

Management Fee. Fidelity Management & Research Company (the investment adviser) and its affiliates provide the Fund with investment management related services for which the Fund pays a monthly management fee. The management fee is the sum of an individual fund fee rate that is based on an annual rate of .45% of the Fund's average net assets and an annualized group fee rate that averaged .25% during the period. The group fee rate is based upon the average net assets of all the mutual funds advised by the investment adviser, including any mutual funds previously advised by the investment adviser that are currently advised by Fidelity SelectCo, LLC, an affiliate of the investment adviser. The group fee rate decreases as assets under management increase and increases as assets under management decrease. In addition, the management fee is subject to a performance adjustment (up to a maximum of ± .20% of the Fund's average net assets over a 36 month performance period). The upward or downward adjustment to the management fee is based on the relative investment performance of International Value as compared to its benchmark index, the MSCI EAFE Value Index, over the same 36 month performance period. For the reporting period, the total annualized management fee rate, including the performance adjustment, was .70% of the Fund's average net assets. The performance adjustment included in the management fee rate may be higher or lower than the maximum performance adjustment rate due to the difference between the average net assets for the reporting and performance periods.

Distribution and Service Plan Fees. In accordance with Rule 12b-1 of the 1940 Act, the Fund has adopted separate Distribution and Service Plans for each class of shares. Certain classes pay Fidelity Distributors Corporation (FDC), an affiliate of the investment adviser, separate Distribution and Service Fees, each of which is based on an annual percentage of each class' average net assets. In addition, FDC may pay financial intermediaries for selling shares of the Fund and providing shareholder support services. For the period, the Distribution and Service Fee rates, total fees and amounts retained by FDC were as follows:

|        | Distribution
Fee | Service
Fee | Total Fees | Retained
by FDC
|------- | ---------------- | ----------- | ---------- | ---------------
|Class A | -%               | .25%        | $	8,065    | $	435          
|Class T | .25%             | .25%        | 9,249      | 121            
|Class B | .75%             | .25%        | 1,883      | 1,417          
|Class C | .75%             | .25%        | 18,991     | 3,431          
|        |                  |             | $	38,188   | $	5,404        

Semiannual Report

5. Fees and Other Transactions with Affiliates - continued

Sales Load. FDC may receive a front-end sales charge of up to 5.75% for selling Class A shares and 3.50% for selling Class T shares, some of which is paid to financial intermediaries for selling shares of the Fund. Depending on the holding period, FDC may receive contingent deferred sales charges levied on Class A, Class T, Class B, and Class C redemptions. The deferred sales charges range from 5.00% to 1.00% for Class B shares, 1.00% for Class C shares, 1.00% for certain purchases of Class A shares and .25% for certain purchases of Class T shares.

For the period, sales charge amounts retained by FDC were as follows:

|         | Retained
by FDC
|-------- | ---------------
|Class A  | $	3,849        
|Class T  | 704            
|Class B* | 97             
|Class C* | 439            
|         | $	5,089        

*	When Class B and Class C shares are initially sold, FDC pays commissions from its own resources to financial intermediaries through which the sales 	are made.

Transfer Agent Fees.Fidelity Investments Institutional Operations Company, Inc., (FIIOC), an affiliate of the investment adviser, is the transfer, dividend disbursing and shareholder servicing agent for each class of the Fund. FIIOC receives account fees and asset-based fees that vary according to the account size and type of account of the shareholders of the respective classes of the Fund. FIIOC pays for typesetting, printing and mailing of shareholder reports, except proxy statements.

For the period, transfer agent fees for each class were as follows:

|                    | Amount    | % of
Class-Level Average
Net Assets*
|------------------- | --------- | ------------------------------------
|Class A             | $	9,221   | .29                                 
|Class T             | 5,733     | .31                                 
|Class B             | 552       | .29                                 
|Class C             | 5,616     | .30                                 
|International Value | 173,464   | .18                                 
|Institutional Class | 3,593     | .29                                 
|                    | $	198,179 |                                     

*Annualized

Semiannual Report

Notes to Financial Statements (Unaudited) - continued

5. Fees and Other Transactions with Affiliates - continued

Accounting and Security Lending Fees.Fidelity Service Company, Inc. (FSC), an affiliate of the investment adviser, maintains the Fund's accounting records. The accounting fee is based on the level of average net assets for each month. Under a separate contract, FSC administers the security lending program. The security lending fee is based on the number and duration of lending transactions.

Brokerage Commissions.The Fund placed a portion of its portfolio transactions with brokerage firms which are affiliates of the investment adviser. Brokerage commissions are included in net realized gain (loss) and change in net unrealized appreciation (depreciation) in the Statement of Operations. The commissions paid to these affiliated firms were $104 for the period.

6. Committed Line of Credit.

The Fund participates with other funds managed by the investment adviser or an affiliate in a $4.25 billion credit facility (the "line of credit") to be utilized for temporary or emergency purposes to fund shareholder redemptions or for other short-term liquidity purposes. The Fund has agreed to pay commitment fees on its pro-rata portion of the line of credit, which amounted to $163 and is reflected in Miscellaneous expenses on the Statement of Operations. During the period, the Fund did not borrow on this line of credit.

7. Security Lending.

The Fund lends portfolio securities through a lending agent from time to time in order to earn additional income. For equity securities, a lending agent is used and may loan securities to certain qualified borrowers, including Fidelity Capital Markets (FCM), a broker-dealer affiliated with the Fund. On the settlement date of the loan, the Fund receives collateral (in the form of U.S. Treasury obligations, letters of credit and/or cash) against the loaned securities and maintains collateral in an amount not less than 100% of the market value of the loaned securities during the period of the loan. The market value of the loaned securities is determined at the close of business of the Fund and any additional required collateral is delivered to the Fund on the next business day. If the borrower defaults on its obligation to return the securities loaned because of insolvency or other reasons, the Fund may apply collateral received from the borrower against the obligation. The Fund may experience delays and costs in recovering the securities loaned. Any cash collateral received is invested in the Fidelity Securities Lending Cash Central Fund. The value of loaned securities and cash collateral at period end are disclosed on the Fund's Statement of Assets and Liabilities. Security lending income represents the income earned on investing cash collateral, less rebates paid to borrowers

Semiannual Report

7. Security Lending - continued

and any lending agent fees associated with the loan, plus any premium payments received for lending certain types of securities. Security lending income is presented in the Statement of Operations as a component of income from Fidelity Central Funds. Total security lending income during the period amounted to $48,874. During the period, there were no securities loaned to FCM.

8. Expense Reductions.

Commissions paid to certain brokers with whom the investment adviser, or its affiliates, places trades on behalf of the Fund include an amount in addition to trade execution, which may be rebated back to the Fund to offset certain expenses. This amount totaled $6,026 for the period.

In addition, the investment adviser reimbursed a portion of the Fund's operating expenses, including certain International Value expenses during the period in the amount of $278.

9. Distributions to Shareholders.

Distributions to shareholders of each class were as follows:

|                           | Six months ended 
April 30, 
2015 | Year ended 
October 31, 
2014
|-------------------------- | --------------------------------- | -----------------------------
|From net investment income |                                   |                              
|Class A                    | $	204,314                         | $	117,558                    
|Class T                    | 109,443                           | 63,542                       
|Class B                    | 8,373                             | 6,919                        
|Class C                    | 99,311                            | 40,539                       
|International Value        | 7,079,700                         | 3,926,459                    
|Institutional Class        | 52,790                            | 5,296                        
|Total                      | $	7,553,931                       | $	4,160,313                  
|From net realized gain     |                                   |                              
|Class A                    | $	-                               | $	9,681                      
|Class T                    | -                                 | 5,931                        
|Class B                    | -                                 | 1,042                        
|Class C                    | -                                 | 5,113                        
|International Value        | -                                 | 279,037                      
|Institutional Class        | -                                 | 388                          
|Total                      | $	-                               | $	301,192                    

Semiannual Report

Notes to Financial Statements (Unaudited) - continued

10. Share Transactions.

Share transactions for each class were as follows and may contain automatic conversions between classes or exchanges between funds:

|                              | Shares                           | Dollars                      
|----------------------------- | -------------------------------- | -----------------------------
|                              | Six months ended April 30, 
2015 | Year ended 
October 31, 
2014
|Class A                       |                                  |                              
|Shares sold                   | 263,322                          | 271,659                      
|Reinvestment of distributions | 23,604                           | 12,904                       
|Shares redeemed               | (139,987)                        | (245,285)                    
|Net increase (decrease)       | 146,939                          | 39,278                       
|Class T                       |                                  |                              
|Shares sold                   | 53,273                           | 79,778                       
|Reinvestment of distributions | 12,981                           | 7,900                        
|Shares redeemed               | (29,899)                         | (88,989)                     
|Net increase (decrease)       | 36,355                           | (1,311)                      
|Class B                       |                                  |                              
|Shares sold                   | 2,258                            | 1,662                        
|Reinvestment of distributions | 891                              | 756                          
|Shares redeemed               | (10,799)                         | (30,069)                     
|Net increase (decrease)       | (7,650)                          | (27,651)                     
|Class C                       |                                  |                              
|Shares sold                   | 93,384                           | 107,427                      
|Reinvestment of distributions | 10,999                           | 4,784                        
|Shares redeemed               | (38,322)                         | (49,408)                     
|Net increase (decrease)       | 66,061                           | 62,803                       
|International Value           |                                  |                              
|Shares sold                   | 1,378,533                        | 5,177,049                    
|Reinvestment of distributions | 823,202                          | 470,965                      
|Shares redeemed               | (2,110,868)                      | (3,570,903)                  
|Net increase (decrease)       | 90,867                           | 2,077,111                    
|Institutional Class           |                                  |                              
|Shares sold                   | 381,429                          | 140,760                      
|Reinvestment of distributions | 5,275                            | 394                          
|Shares redeemed               | (29,270)                         | (16,367)                     
|Net increase (decrease)       | 357,434                          | 124,787                      

Semiannual Report

11. Other.

The Fund's organizational documents provide former and current trustees and officers with a limited indemnification against liabilities arising in connection with the performance of their duties to the Fund. In the normal course of business, the Fund may also enter into contracts that provide general indemnifications. The Fund's maximum exposure under these arrangements is unknown as this would be dependent on future claims that may be made against the Fund. The risk of material loss from such claims is considered remote.

At the end of the period, Strategic Advisers International II Fund, was the owner of record of approximately 36% of the total outstanding shares of the Fund. Mutual funds managed by the investment adviser or its affiliates were the owners of record, in the aggregate, of approximately 49% of the total outstanding shares of the Fund.

Semiannual Report

Investment Adviser

Fidelity Management & Research
	Company
Boston, MA

Investment Sub-Advisers

FMR Co., Inc.

FMR Investment Management
	(U.K.) Limited

Fidelity Management & Research 
	(Hong Kong) Limited

Fidelity Management & Research 
	(Japan) Limited

FIL Investment Advisors

FIL Investment Advisors (U.K.) Limited

FIL Investments (Japan) Limited

General Distributor

Fidelity Distributors Corporation
Smithfield, RI

Transfer and Service Agents

Fidelity Investments Institutional
	Operations Company, Inc.
Boston, MA

Fidelity Service Company, Inc.
Boston, MA

Custodian

The Northern Trust Company
Chicago, IL

The Fidelity Telephone Connection

Mutual Fund 24-Hour Service

Exchanges/Redemptions 
	and Account Assistance	1-800-544-6666

Product Information	1-800-544-8888

Retirement Accounts	1-800-544-4774 
	(8 a.m. - 9 p.m.)

TDD Service	1-800-544-0118
	for the deaf and hearing impaired
	(9 a.m. - 9 p.m. Eastern time)

Fidelity Automated Service  
	Telephone (FAST®)  int941	1-800-544-5555

int943	Automated line for quickest service

(Fidelity Investment logo)(registered trademark)Corporate Headquarters245 Summer St., Boston, MA 02210www.fidelity.com

`FIV-USAN-0615
1.827484.108`

(Fidelity Investment logo)(registered trademark)Fidelity Advisor®

International Discovery

Fund - Class A, Class T, Class B 
and Class C

Semiannual Report

April 30, 2015(Fidelity Cover Art)

Class A, Class T, Class B, and Class C are classes of Fidelity® International Discovery Fund

---

# Contents

|Shareholder Expense Example | (Click Here) | An example of shareholder expenses.                                                                          
|--------------------------- | ------------ | -------------------------------------------------------------------------------------------------------------
|Investment Changes          | (Click Here) | A summary of major shifts in the fund's investments over the past six months.                                
|Investments                 | (Click Here) | A complete list of the fund's investments with their market values.                                          
|Financial Statements        | (Click Here) | Statements of assets and liabilities, operations, and changes in net assets, as well as financial highlights.
|Notes                       | (Click Here) | Notes to financial statements.                                                                               

To view a fund's proxy voting guidelines and proxy voting record for the 12-month period ended June 30, visit http://www.fidelity.com/proxyvotingresults or visit the Securities and Exchange Commission's (SEC) web site at http://www.sec.gov. You may also call 1-877-208-0098 to request a free copy of the proxy voting guidelines.

Standard & Poor's, S&P and S&P 500 are registered service marks of The McGraw-Hill Companies, Inc. and have been licensed for use by Fidelity Distributors Corporation.

Other third-party marks appearing herein are the property of their respective owners.

All other marks appearing herein are registered or unregistered trademarks or service marks of FMR LLC or an affiliated company. © 2015 FMR LLC. All rights reserved.

This report and the financial statements contained herein are submitted for the general information of the shareholders of the fund. This report is not authorized for distribution to prospective investors in the fund unless preceded or accompanied by an effective prospectus.

A fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-Q. Forms N-Q are available on the SEC's web site at http://www.sec.gov.A fund's Forms N-Q may be reviewed and copied at the SEC's Public Reference Room in Washington, DC. Information regarding the operation of the SEC's Public Reference Room may be obtained by calling 1-800-SEC-0330. For a complete list of a fund's portfolio holdings, view the most recent holdings listing, semiannual report, or annual report on Fidelity's web site at http://www.fidelity.com, http://www.advisor.fidelity.com, or http://www.401k.com, as applicable.

NOT FDIC INSURED • MAY LOSE VALUE • NO BANK GUARANTEE

Neither the fund nor Fidelity Distributors Corporation is a bank.

Semiannual Report

---

# Shareholder Expense Example

As a shareholder of the Fund, you incur two types of costs: (1) transaction costs, including sales charges (loads) on purchase payments or redemption proceeds, redemption fees and (2) ongoing costs, including management fees, distribution and/or service (12b-1) fees and other Fund expenses. This Example is intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds.

The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (November 1, 2014 to April 30, 2015).

Actual Expenses

The first line of the accompanying table for each class of the Fund provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000.00 (for example, an $8,600 account value divided by $1,000.00 = 8.6), then multiply the result by the number in the first line for a class of the Fund under the heading entitled "Expenses Paid During Period" to estimate the expenses you paid on your account during this period. A small balance maintenance fee of $12.00 that is charged once a year may apply for certain accounts with a value of less than $2,000. This fee is not included in the table below. If it was, the estimate of expenses you paid during the period would be higher, and your ending account value lower, by this amount. In addition, the Fund, as a shareholder in the underlying Fidelity Central Funds, will indirectly bear its pro-rata share of the fees and expenses incurred by the underlying Fidelity Central Funds. These fees and expenses are not included in the Fund's annualized expense ratio used to calculate the expense estimate in the table below.

Hypothetical Example for Comparison Purposes

The second line of the accompanying table for each class of the Fund provides information about hypothetical account values and hypothetical expenses based on a Class' actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Class' actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds. A small balance maintenance fee of $12.00 that is charged once a year may apply for certain accounts with a value of less than $2,000. This fee is not included in the table below. If it was, the estimate of expenses you paid during the period would be higher, and your ending account value lower, by this amount. In addition, the Fund, as a shareholder in the underlying Fidelity Central Funds, will indirectly bear its pro-rata share of the fees and expenses incurred by the underlying Fidelity Central Funds. These fees and expenses are not included in the Fund's annualized expense ratio used to calculate the expense estimate in the table below.

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transaction costs. Therefore, the second line of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.

Semiannual Report

Shareholder Expense Example - continued

|                        | Annualized
Expense RatioB | Beginning
Account Value
November 1, 2014 | Ending
Account Value
April 30, 2015 | Expenses Paid
During Period*November 1, 2014
to April 30, 2015
|----------------------- | ------------------------- | ---------------------------------------- | ----------------------------------- | --------------------------------------------------------------
|Class A                 | 1.33%                     |                                          |                                     |                                                               
|Actual                  |                           | $	1,000.00                               | $	1,067.40                          | $	6.82                                                        
|HypotheticalA           |                           | $	1,000.00                               | $	1,018.20                          | $	6.66                                                        
|Class T                 | 1.57%                     |                                          |                                     |                                                               
|Actual                  |                           | $	1,000.00                               | $	1,066.10                          | $	8.04                                                        
|HypotheticalA           |                           | $	1,000.00                               | $	1,017.01                          | $	7.85                                                        
|Class B                 | 2.11%                     |                                          |                                     |                                                               
|Actual                  |                           | $	1,000.00                               | $	1,063.40                          | $	10.79                                                       
|HypotheticalA           |                           | $	1,000.00                               | $	1,014.33                          | $	10.54                                                       
|Class C                 | 2.08%                     |                                          |                                     |                                                               
|Actual                  |                           | $	1,000.00                               | $	1,063.50                          | $	10.64                                                       
|HypotheticalA           |                           | $	1,000.00                               | $	1,014.48                          | $	10.39                                                       
|International Discovery | .99%                      |                                          |                                     |                                                               
|Actual                  |                           | $	1,000.00                               | $	1,069.20                          | $	5.08                                                        
|HypotheticalA           |                           | $	1,000.00                               | $	1,019.89                          | $	4.96                                                        
|Class K                 | .86%                      |                                          |                                     |                                                               
|Actual                  |                           | $	1,000.00                               | $	1,070.30                          | $	4.41                                                        
|HypotheticalA           |                           | $	1,000.00                               | $	1,020.53                          | $	4.31                                                        
|Institutional Class     | 1.00%                     |                                          |                                     |                                                               
|Actual                  |                           | $	1,000.00                               | $	1,069.30                          | $	5.13                                                        
|HypotheticalA           |                           | $	1,000.00                               | $	1,019.84                          | $	5.01                                                        
|Class Z                 | .86%                      |                                          |                                     |                                                               
|Actual                  |                           | $	1,000.00                               | $	1,070.00                          | $	4.41                                                        
|HypotheticalA           |                           | $	1,000.00                               | $	1,020.53                          | $	4.31                                                        

A5% return per year before expenses

BAnnualized expense ratio reflects expenses net of applicable fee waivers.

*Expenses are equal to each Class' annualized expense ratio, multiplied by the average account value over the period, multiplied by 181/365 (to reflect the one-half year period).

Semiannual Report

---

# Investment Changes (Unaudited)

|Geographic Diversification (% of fund's net assets)
|---------------------------------------------------
|As of April 30, 2015                               
|int950                                             
|int952                                             
|int954                                             
|int956                                             
|int958                                             
|int960                                             
|int962                                             
|int964                                             
|int966                                             
|int968                                             

int970

|*Includes Short-Term Investments and Net Other Assets (Liabilities).                                                               
|-----------------------------------------------------------------------------------------------------------------------------------
|Percentages are based on country or territory of incorporation and are adjusted for the effect of futures contracts, if applicable.

|As of October 31, 2014
|----------------------
|int972                
|int974                
|int976                
|int978                
|int980                
|int982                
|int984                
|int986                
|int988                
|int990                

int992

|*Includes Short-Term Investments and Net Other Assets (Liabilities).                                                               
|-----------------------------------------------------------------------------------------------------------------------------------
|Percentages are based on country or territory of incorporation and are adjusted for the effect of futures contracts, if applicable.

|Asset Allocation as of April 30, 2015                                        
|-----------------------------------------------------------------------------
|                                                                             
|Stocks and Equity Futures                                                    
|Other Investments                                                            
|Short-Term Investments and Net Other Assets (Liabilities)                    
|Top Ten Stocks as of April 30, 2015                                          
|                                                                             
|Total SA (France, Oil, Gas & Consumable Fuels)                               
|Novartis AG (Switzerland, Pharmaceuticals)                                   
|Anheuser-Busch InBev SA NV (Belgium, Beverages)                              
|Unilever NV (Certificaten Van Aandelen) (Bearer) (Netherlands, Food Products)
|AIA Group Ltd. (Hong Kong, Insurance)                                        
|Techtronic Industries Co. Ltd. (Hong Kong, Household Durables)               
|Shire PLC (Bailiwick of Jersey, Pharmaceuticals)                             
|Housing Development Finance Corp. Ltd. (India, Thrifts & Mortgage Finance)   
|Astellas Pharma, Inc. (Japan, Pharmaceuticals)                               
|Australia & New Zealand Banking Group Ltd. (Australia, Banks)                
|                                                                             
|Market Sectors as of April 30, 2015                                          
|                                                                             
|Financials                                                                   
|Consumer Discretionary                                                       
|Health Care                                                                  
|Industrials                                                                  
|Information Technology                                                       
|Consumer Staples                                                             
|Energy                                                                       
|Telecommunication Services                                                   
|Materials                                                                    
|Utilities                                                                    

Semiannual Report

---

# Investments April 30, 2015 (Unaudited)

Showing Percentage of Net Assets

|Common Stocks - 96.1%                                
|-----------------------------------------------------
|                                                     
|Australia - 2.8%                                     
|Ansell Ltd.                                          
|Australia & New Zealand Banking Group Ltd.           
|Flight Centre Travel Group Ltd. (e)                  
|G8 Education Ltd.                                    
|Greencross Ltd.                                      
|Mantra Group Ltd.                                    
|Ramsay Health Care Ltd.                              
|Spotless Group Holdings Ltd.                         
|TOTAL AUSTRALIA                                      
|Austria - 0.2%                                       
|Andritz AG                                           
|Bailiwick of Jersey - 2.2%                           
|MySale Group PLC (f)                                 
|Regus PLC                                            
|Shire PLC                                            
|Wolseley PLC                                         
|TOTAL BAILIWICK OF JERSEY                            
|Belgium - 2.7%                                       
|Anheuser-Busch InBev SA NV                           
|KBC Groep NV                                         
|TOTAL BELGIUM                                        
|Bermuda - 1.3%                                       
|BW Offshore Ltd.                                     
|Haier Electronics Group Co. Ltd.                     
|PAX Global Technology Ltd. (a)(f)                    
|Travelport Worldwide Ltd. (e)                        
|TOTAL BERMUDA                                        
|Canada - 2.5%                                        
|Alimentation Couche-Tard, Inc. Class B (sub. vtg.)   
|Constellation Software, Inc.                         
|Constellation Software, Inc. rights 9/15/15 (a)      
|Imperial Oil Ltd.                                    
|Potash Corp. of Saskatchewan, Inc.                   
|PrairieSky Royalty Ltd. (e)                          
|Suncor Energy, Inc.                                  
|TransForce, Inc.                                     
|TOTAL CANADA                                         
|Common Stocks - continued                            
|                                                     
|Cayman Islands - 0.8%                                
|Alibaba Group Holding Ltd. sponsored ADR             
|Lee's Pharmaceutical Holdings Ltd.                   
|Value Partners Group Ltd.                            
|WuXi PharmaTech Cayman, Inc. sponsored ADR (a)       
|TOTAL CAYMAN ISLANDS                                 
|China - 1.0%                                         
|Daqin Railway Co. Ltd. (A Shares)                    
|Inner Mongoli Yili Industries Co. Ltd.               
|Jiangsu Hengrui Medicine Co. Ltd.                    
|Kweichow Moutai Co. Ltd.                             
|Yantai Changyu Pioneer Wine Co. Ltd. (B Shares)      
|TOTAL CHINA                                          
|Cyprus - 0.0%                                        
|SPDI Secure Property Development & Investment PLC (a)
|Denmark - 1.3%                                       
|Novo Nordisk A/S Series B                            
|Vestas Wind Systems A/S                              
|TOTAL DENMARK                                        
|Egypt - 0.0%                                         
|Edita Food Industries SAE GDR (a)(g)                 
|Finland - 0.7%                                       
|Sampo Oyj (A Shares)                                 
|France - 8.0%                                        
|Accor SA                                             
|Air Liquide SA                                       
|AXA SA                                               
|BNP Paribas SA                                       
|Cap Gemini SA                                        
|Havas SA                                             
|Ingenico SA                                          
|Numericable Group SA (a)                             
|Rexel SA                                             
|Safran SA                                            
|Schneider Electric SA (e)                            
|Sodexo SA (a)                                        
|SR Teleperformance SA                                
|Total SA                                             
|Common Stocks - continued                            
|                                                     
|France - continued                                   
|Unibail-Rodamco                                      
|Zodiac Aerospace                                     
|TOTAL FRANCE                                         
|Germany - 5.3%                                       
|Aareal Bank AG                                       
|Bayer AG                                             
|Beiersdorf AG                                        
|Continental AG (e)                                   
|Deutsche Annington Immobilien SE                     
|Deutsche Boerse AG                                   
|Deutsche Telekom AG                                  
|Fresenius SE & Co. KGaA                              
|GEA Group AG                                         
|KION Group AG                                        
|LEG Immobilien AG                                    
|ProSiebenSat.1 Media AG                              
|TOTAL GERMANY                                        
|Hong Kong - 2.7%                                     
|AIA Group Ltd.                                       
|Hutchison Whampoa Ltd.                               
|Techtronic Industries Co. Ltd.                       
|TOTAL HONG KONG                                      
|India - 3.6%                                         
|Bharti Infratel Ltd.                                 
|Edelweiss Financial Services Ltd.                    
|HDFC Bank Ltd. sponsored ADR                         
|Housing Development Finance Corp. Ltd.               
|Info Edge India Ltd.                                 
|Lupin Ltd.                                           
|Sun Pharmaceutical Industries Ltd. (a)               
|The Jammu & Kashmir Bank Ltd.                        
|Titan Co. Ltd. (a)                                   
|Yes Bank Ltd.                                        
|TOTAL INDIA                                          
|Indonesia - 0.4%                                     
|PT Bank Central Asia Tbk                             
|PT Bank Rakyat Indonesia Tbk                         
|TOTAL INDONESIA                                      
|Common Stocks - continued                            
|                                                     
|Ireland - 2.2%                                       
|Actavis PLC (a)                                      
|Bank of Ireland (a)                                  
|Glanbia PLC                                          
|James Hardie Industries PLC CDI                      
|Kerry Group PLC Class A                              
|TOTAL IRELAND                                        
|Isle of Man - 0.3%                                   
|Optimal Payments PLC (a)                             
|Optimal Payments PLC rights 5/1/15 (a)               
|Playtech Ltd.                                        
|TOTAL ISLE OF MAN                                    
|Israel - 0.8%                                        
|Frutarom Industries Ltd.                             
|Teva Pharmaceutical Industries Ltd. sponsored ADR    
|TOTAL ISRAEL                                         
|Italy - 2.5%                                         
|De Longhi SpA                                        
|Intesa Sanpaolo SpA                                  
|Mediaset SpA                                         
|Telecom Italia SpA (a)                               
|World Duty Free SpA (a)                              
|TOTAL ITALY                                          
|Japan - 15.3%                                        
|ACOM Co. Ltd. (a)                                    
|Aozora Bank Ltd.                                     
|Astellas Pharma, Inc.                                
|Coca-Cola Central Japan Co. Ltd.                     
|Dentsu, Inc.                                         
|Don Quijote Holdings Co. Ltd.                        
|Hitachi Ltd.                                         
|Hoya Corp.                                           
|Japan Exchange Group, Inc.                           
|Japan Tobacco, Inc.                                  
|KDDI Corp.                                           
|Keyence Corp.                                        
|Misumi Group, Inc.                                   
|Mitsubishi UFJ Financial Group, Inc.                 
|Monex Group, Inc.                                    
|NEC Corp.                                            
|Common Stocks - continued                            
|                                                     
|Japan - continued                                    
|Nidec Corp.                                          
|Olympus Corp. (a)                                    
|OMRON Corp.                                          
|ORIX Corp.                                           
|Rakuten, Inc.                                        
|Sanken Electric Co. Ltd.                             
|Seven Bank Ltd.                                      
|SoftBank Corp.                                       
|Sony Corp.                                           
|Sundrug Co. Ltd.                                     
|Toshiba Plant Systems & Services Corp.               
|Tsuruha Holdings, Inc.                               
|United Arrows Ltd.                                   
|VT Holdings Co. Ltd.                                 
|TOTAL JAPAN                                          
|Korea (South) - 0.3%                                 
|Samsung Electronics Co. Ltd.                         
|Luxembourg - 1.0%                                    
|Altice SA (a)                                        
|Eurofins Scientific SA                               
|Grand City Properties SA (a)                         
|TOTAL LUXEMBOURG                                     
|Marshall Islands - 0.1%                              
|Hoegh LNG Partners LP (f)                            
|Netherlands - 4.6%                                   
|AerCap Holdings NV (a)                               
|Arcadis NV                                           
|ASML Holding NV (Netherlands)                        
|IMCD Group BV                                        
|ING Groep NV (Certificaten Van Aandelen)             
|Mobileye NV (a)(e)                                   
|Unilever NV (Certificaten Van Aandelen) (Bearer)     
|TOTAL NETHERLANDS                                    
|New Zealand - 0.7%                                   
|EBOS Group Ltd.                                      
|Ryman Healthcare Group Ltd.                          
|TOTAL NEW ZEALAND                                    
|Common Stocks - continued                            
|                                                     
|Philippines - 0.7%                                   
|Alliance Global Group, Inc.                          
|SM Investments Corp.                                 
|TOTAL PHILIPPINES                                    
|South Africa - 1.0%                                  
|EOH Holdings Ltd.                                    
|Naspers Ltd. Class N                                 
|TOTAL SOUTH AFRICA                                   
|Spain - 1.9%                                         
|Amadeus IT Holding SA Class A                        
|Atresmedia Corporacion de Medios de Comunicacion SA  
|Hispania Activos Inmobiliarios SA (a)                
|Inditex SA                                           
|Mediaset Espana Comunicacion, S.A.                   
|TOTAL SPAIN                                          
|Sweden - 2.1%                                        
|ASSA ABLOY AB (B Shares)                             
|HEXPOL AB (B Shares)                                 
|Nordea Bank AB                                       
|Svenska Handelsbanken AB (A Shares)                  
|TOTAL SWEDEN                                         
|Switzerland - 5.5%                                   
|Clariant AG (Reg.)                                   
|GAM Holding Ltd.                                     
|Julius Baer Group Ltd.                               
|Lonza Group AG                                       
|Novartis AG                                          
|Partners Group Holding AG                            
|Schindler Holding AG (participation certificate)     
|Sonova Holding AG Class B                            
|UBS Group AG                                         
|TOTAL SWITZERLAND                                    
|Taiwan - 0.8%                                        
|ECLAT Textile Co. Ltd.                               
|JHL Biotech, Inc. (j)                                
|Merida Industry Co. Ltd.                             
|Taiwan Semiconductor Manufacturing Co. Ltd.          
|TOTAL TAIWAN                                         
|Common Stocks - continued                            
|                                                     
|Turkey - 0.1%                                        
|Logo Yazilim Sanayi Ve Ticar                         
|United Kingdom - 18.0%                               
|AA PLC                                               
|Aberdeen Asset Management PLC                        
|Al Noor Hospitals Group PLC                          
|Associated British Foods PLC                         
|Aviva PLC                                            
|B&M European Value Retail S.A.                       
|BG Group PLC                                         
|British American Tobacco PLC (United Kingdom)        
|BT Group PLC                                         
|BTG PLC (a)                                          
|Bunzl PLC                                            
|Diploma PLC                                          
|Essentra PLC                                         
|Hikma Pharmaceuticals PLC                            
|Howden Joinery Group PLC                             
|HSBC Holdings PLC (United Kingdom)                   
|Imperial Tobacco Group PLC                           
|ITE Group PLC                                        
|ITV PLC                                              
|Johnson Matthey PLC                                  
|Liberty Global PLC Class A (a)                       
|Lloyds Banking Group PLC                             
|London Stock Exchange Group PLC                      
|Meggitt PLC                                          
|Melrose PLC                                          
|Next PLC                                             
|Persimmon PLC                                        
|Poundland Group PLC                                  
|Reckitt Benckiser Group PLC                          
|Rex Bionics PLC (a)(f)                               
|Rio Tinto PLC                                        
|Royal Dutch Shell PLC Class A (United Kingdom)       
|SABMiller PLC                                        
|Schroders PLC                                        
|Shawbrook Group Ltd.                                 
|Spirax-Sarco Engineering PLC                         
|St. James's Place Capital PLC                        
|Taylor Wimpey PLC                                    
|The Restaurant Group PLC                             
|Virgin Money Holdings Uk PLC (a)                     
|Common Stocks - continued                            
|                                                     
|United Kingdom - continued                           
|Vodafone Group PLC                                   
|Whitbread PLC                                        
|Workspace Group PLC                                  
|TOTAL UNITED KINGDOM                                 
|United States of America - 2.7%                      
|Chevron Corp.                                        
|Constellation Brands, Inc. Class A (sub. vtg.) (a)   
|McGraw Hill Financial, Inc.                          
|Monster Beverage Corp. (a)                           
|Visa, Inc. Class A                                   
|TOTAL UNITED STATES OF AMERICA                       
|TOTAL COMMON STOCKS
(Cost $9,169,054)                
|Preferred Stocks - 1.3%                              
|                                                     
|Convertible Preferred Stocks - 0.2%                  
|Cayman Islands - 0.2%                                
|Meituan Corp. Series D (j)                           
|Nonconvertible Preferred Stocks - 1.1%               
|Germany - 1.1%                                       
|Henkel AG & Co. KGaA                                 
|Volkswagen AG (e)                                    
|TOTAL GERMANY                                        
|TOTAL PREFERRED STOCKS
(Cost $123,294)               

|Government Obligations - 0.1%                                                                    
|-------------------------------------------------------------------------------------------------
|                                                                                                 
|United States of America - 0.1%                                                                  
|U.S. Treasury Bills, yield at date of purchase 0.01% to 0.02% 5/7/15 to 5/14/15 (i)
(Cost $7,710)
|Preferred Securities - 0.1%                                                                      
|                                                                                                 
|Ireland - 0.1%                                                                                   
|Baggot Securities Ltd. 10.24% (g)(h)
(Cost $13,883)                                              

|Money Market Funds - 3.5%                                  
|-----------------------------------------------------------
|                                                           
|Fidelity Cash Central Fund, 0.15% (b)                      
|Fidelity Securities Lending Cash Central Fund, 0.17% (b)(c)
|TOTAL MONEY MARKET FUNDS
(Cost $402,598)                   
|TOTAL INVESTMENT PORTFOLIO - 101.1%
(Cost $9,716,539)      
|NET OTHER ASSETS (LIABILITIES) - (1.1)%                    
|NET ASSETS - 100%                                          

|Futures Contracts                                   
|----------------------------------------------------
|                                                    
|Purchased                                           
|Equity Index Contracts                              
|2,033 CME Nikkei 225 Index Contracts (United States)

|The face value of futures purchased as a percentage of net assets is 1.7%                                                   
|----------------------------------------------------------------------------------------------------------------------------
|For the period, the average monthly underlying face amount at value for futures contracts in the aggregate was $256,259,000.

|Currency Abbreviations
|----------------------
|EUR                   

|Legend                                                                                                                                                                                                                                                                                                                                                                                                                                           
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|(a)	Non-income producing                                                                                                                                                                                                                                                                                                                                                                                                                         
|(b)	Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.
|(c)	Investment made with cash collateral received from securities on loan.                                                                                                                                                                                                                                                                                                                                                                       
|(d)	Amount is stated in United States dollars unless otherwise noted.                                                                                                                                                                                                                                                                                                                                                                            
|(e)	Security or a portion of the security is on loan at period end.                                                                                                                                                                                                                                                                                                                                                                              
|(f)	Affiliated company                                                                                                                                                                                                                                                                                                                                                                                                                           
|(g)	Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $13,136,000 or 0.1% of net assets.                                                                                                                                 
|(h)	Security is perpetual in nature with no stated maturity date.                                                                                                                                                                                                                                                                                                                                                                                
|(i)	Security or a portion of the security was pledged to cover margin requirements for futures contracts. At period end, the value of securities pledged amounted to $7,496,000.                                                                                                                                                                                                                                                                 
|(j)	Restricted securities - Investment in securities not registered under the Securities Act of 1933 (excluding 144A issues). At the end of the period, the value of restricted securities (excluding 144A issues) amounted to $31,387,000 or 0.3% of net assets.                                                                                                                                                                                
|Additional information on each restricted holding is as follows:                                                                                                                                                                                                                                                                                                                                                                                 

|Security               | Acquisition Date | Acquisition Cost (000s)
|---------------------- | ---------------- | -----------------------
|JHL Biotech, Inc.      | 4/14/15          | $	9,342                
|Meituan Corp. Series D | 1/26/15          | $	18,833               

|Affiliated Central Funds                                                                                                     
|-----------------------------------------------------------------------------------------------------------------------------
|Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:

|Fund                                          | Income earned
(Amounts in thousands)
|--------------------------------------------- | ------------------------------------
|Fidelity Cash Central Fund                    | $	343                               
|Fidelity Securities Lending Cash Central Fund | 1,811                               
|Total                                         | $	2,154                             

|Other Affiliated Issuers                                                                                                                                                                                
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|An affiliated company is a company in which the Fund has ownership of at least 5% of the voting securities. Fiscal year to date transactions with companies which are or were affiliates are as follows:

|Affiliate
(Amounts in thousands) | Value, beginning of period | Purchases | Sales
Proceeds* | Dividend
Income | Value,
end of
period
|-------------------------------- | -------------------------- | --------- | --------------- | --------------- | --------------------
|Hoegh LNG Partners LP            | $	12,426                   | $	2,837   | $	130           | $	271           | $	15,679            
|MySale Group PLC                 | 26,053                     | -         | 61              | -               | 7,138               
|PAX Global Technology Ltd.       | 71,203                     | 795       | 600             | -               | 97,048              
|Rex Bionics PLC                  | 3,518                      | -         | 12              | -               | 1,263               
|Total                            | $	113,200                  | $	3,632   | $	803           | $	271           | $	121,128           

* Includes the value of securities delivered through in-kind transactions.

|Other Information                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|Categorizations in the Schedule of Investments are based on country or territory of incorporation.                                                                                                                                                                                                                                                                                                                                                                                             
|The following is a summary of the inputs used, as of April 30, 2015, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the tables below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

|Valuation Inputs at Reporting Date:
|-----------------------------------
|Description
(Amounts in thousands) 
|Investments in Securities:         
|Equities:                          
|Consumer Discretionary             
|Consumer Staples                   
|Energy                             
|Financials                         
|Health Care                        
|Industrials                        
|Information Technology             
|Materials                          
|Telecommunication Services         
|Government Obligations             
|Valuation Inputs at Reporting Date:
|Description
(Amounts in thousands) 
|Investments in Securities:         
|Equities:                          
|Preferred Securities               
|Money Market Funds                 
|Total Investments in Securities:   
|Derivative Instruments:            
|Assets                             
|Futures Contracts                  

|The following is a summary of transfers between Level 1 and Level 2 for the period endedApril 30, 2015. Transfers are assumed to have occurred at the beginning of the period, and are primarily attributable to the valuation techniques used for foreign equity securities, as discussed in the accompanying Notes to Financial Statements:
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|Transfers          | Total (000s)
|------------------ | ------------
|Level 1 to Level 2 | $	3,100,351 
|Level 2 to Level 1 | $	1,239,771 

|Value of Derivative Instruments                                                                                                                                                                                                                                                          
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|The following table is a summary of the Fund's value of derivative instruments by primary risk exposure as of April 30, 2015. For additional information on derivative instruments, please refer to the Derivative Instruments section in the accompanying Notes to Financial Statements.

|Primary Risk Exposure /Derivative Type | Value (000s)
|-------------------------------------- | ------------
|                                       | Asset       
|Equity Risk                            |             
|Futures Contracts (a)                  | $	5,906     
|Total Value of Derivatives             | $	5,906     

|(a) Reflects gross cumulative appreciation (depreciation) on futures contracts as presented in the Schedule of Investments. Only the period end receivable or payable for daily variation margin and net unrealized appreciation (depreciation) are presented in the Statement of Assets and Liabilities.
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

---

# Financial Statements

## Statement of Assets and Liabilities

|Amounts in thousands (except per-share amounts)                                                                                                  | April 30, 2015 (Unaudited)
|------------------------------------------------------------------------------------------------------------------------------------------------ | --------------------------
|                                                                                                                                                 |                           
|Assets                                                                                                                                           |                           
|Investment in securities, at value (including securities loaned of $169,755) - See accompanying schedule:
Unaffiliated issuers (cost $9,224,668) | $	10,974,157              
|Fidelity Central Funds (cost $402,598)                                                                                                           | 402,598                   
|Other affiliated issuers (cost $89,273)                                                                                                          | 121,128                   
|Total Investments (cost $9,716,539)                                                                                                              |                           
|Foreign currency held at value (cost $4,728)                                                                                                     |                           
|Receivable for investments sold                                                                                                                  |                           
|Receivable for fund shares sold                                                                                                                  |                           
|Dividends receivable                                                                                                                             |                           
|Distributions receivable from Fidelity Central Funds                                                                                             |                           
|Prepaid expenses                                                                                                                                 |                           
|Other receivables                                                                                                                                |                           
|Total assets                                                                                                                                     |                           
|                                                                                                                                                 |                           
|Liabilities                                                                                                                                      |                           
|Payable for investments purchased                                                                                                                | $	67,420                  
|Payable for fund shares redeemed                                                                                                                 | 15,030                    
|Accrued management fee                                                                                                                           | 6,812                     
|Distribution and service plan fees payable                                                                                                       | 117                       
|Payable for daily variation margin for derivative instruments                                                                                    | 4,015                     
|Other affiliated payables                                                                                                                        | 1,583                     
|Other payables and accrued expenses                                                                                                              | 5,620                     
|Collateral on securities loaned, at value                                                                                                        | 178,390                   
|Total liabilities                                                                                                                                |                           
|                                                                                                                                                 |                           
|Net Assets                                                                                                                                       |                           
|Net Assets consist of:                                                                                                                           |                           
|Paid in capital                                                                                                                                  |                           
|Undistributed net investment income                                                                                                              |                           
|Accumulated undistributed net realized gain (loss) on investments and foreign currency transactions                                              |                           
|Net unrealized appreciation (depreciation) on investments and assets and liabilities in foreign currencies                                       |                           
|Net Assets                                                                                                                                       |                           

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Statement of Assets and Liabilities - continued

|Amounts in thousands (except per-share amounts)                                                                               | April 30, 2015 (Unaudited)
|----------------------------------------------------------------------------------------------------------------------------- | --------------------------
|                                                                                                                              |                           
|Calculation of Maximum Offering Price
Class A:
Net Asset Valueand redemption price per share ($304,057.33 ÷ 7,381.512 shares) |                           
|                                                                                                                              |                           
|Maximum offering price per share (100/94.25 of $41.19)                                                                        |                           
|Class T:
Net Asset Value and redemption price per share ($46,880.10 ÷ 1,144.698 shares)                                       |                           
|                                                                                                                              |                           
|Maximum offering price per share (100/96.50 of $40.95)                                                                        |                           
|Class B:
Net Asset Value and offering price per share ($3,368.75 ÷ 82.673 shares)A                                            |                           
|                                                                                                                              |                           
|Class C:
Net Asset Value and offering price per share ($36,977.48 ÷ 909.094 shares)A                                          |                           
|                                                                                                                              |                           
|International Discovery:
Net Asset Value, offering price and redemption price per share ($7,509,970.46 ÷ 181,122.244 shares)  |                           
|                                                                                                                              |                           
|Class K:
Net Asset Value, offering price and redemption price per share ($2,535,160.10 ÷ 61,270.682 shares)                   |                           
|                                                                                                                              |                           
|Institutional Class:
Net Asset Value, offering price and redemption price per share ($899,960.61 ÷ 21,750.815 shares)         |                           
|                                                                                                                              |                           
|Class Z:
Net Asset Value, offering price and redemption price per share ($39,986.32 ÷ 966.930 shares)                         |                           

ARedemption price per share is equal to net asset value less any applicable contingent deferred sales charge.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

Financial Statements - continued

## Statement of Operations

|Amounts in thousands 	Six months ended April 30, 2015 (Unaudited)                                                                   
|------------------------------------------------------------------------------------------------------------------------------------
|                                                                                                                                    
|Investment Income                                                                                                                   
|Dividends (including $271 earned from other affiliated issuers)                                                                     
|Interest                                                                                                                            
|Income from Fidelity Central Funds                                                                                                  
|Income before foreign taxes withheld                                                                                                
|Less foreign taxes withheld                                                                                                         
|Total income                                                                                                                        
|                                                                                                                                    
|Expenses                                                                                                                            
|Management fee
Basic fee                                                                                                            
|Performance adjustment                                                                                                              
|Transfer agent fees                                                                                                                 
|Distribution and service plan fees                                                                                                  
|Accounting and security lending fees                                                                                                
|Custodian fees and expenses                                                                                                         
|Independent trustees' compensation                                                                                                  
|Registration fees                                                                                                                   
|Audit                                                                                                                               
|Legal                                                                                                                               
|Miscellaneous                                                                                                                       
|Total expenses before reductions                                                                                                    
|Expense reductions                                                                                                                  
|Net investment income (loss)                                                                                                        
|Realized and Unrealized Gain (Loss)
Net realized gain (loss) on:                                                                    
|Investment securities:                                                                                                              
|Unaffiliated issuers                                                                                                                
|Other affiliated issuers                                                                                                            
|Foreign currency transactions                                                                                                       
|Futures contracts                                                                                                                   
|Total net realized gain (loss)                                                                                                      
|Change in net unrealized appreciation (depreciation) on:
Investment securities (net of decrease in deferred foreign taxes of $2,662)
|Assets and liabilities in foreign currencies                                                                                        
|Futures contracts                                                                                                                   
|Total change in net unrealized appreciation (depreciation)                                                                          
|Net gain (loss)                                                                                                                     
|Netincrease (decrease) in net assets resulting from operations                                                                      

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Statement of Changes in Net Assets

|Amounts in thousands                                                                                                                      | Six months ended April 30, 2015 (Unaudited) | Year ended
October 31,
2014
|----------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------------------- | ---------------------------
|Increase (Decrease) in Net Assets                                                                                                         |                                             |                            
|Operations                                                                                                                                |                                             |                            
|Net investment income (loss)                                                                                                              | $	49,711                                    | $	199,098                  
|Net realized gain (loss)                                                                                                                  | 236,783                                     | 758,004                    
|Change in net unrealized appreciation (depreciation)                                                                                      | 464,328                                     | (958,756)                  
|Netincrease (decrease) in net assets resulting from operations                                                                            | 750,822                                     | (1,654)                    
|Distributions to shareholders from net investment income                                                                                  | (74,589)                                    | (136,326)                  
|Distributions to shareholders from net realized gain                                                                                      | -                                           | (88,586)                   
|Total distributions                                                                                                                       | (74,589)                                    | (224,912)                  
|Share transactions - net increase (decrease)                                                                                              | (298,467)                                   | (69,908)                   
|Redemption fees                                                                                                                           | 44                                          | 139                        
|Total increase (decrease) in net assets                                                                                                   | 377,810                                     | (296,335)                  
|                                                                                                                                          |                                             |                            
|Net Assets                                                                                                                                |                                             |                            
|Beginning of period                                                                                                                       | 10,998,551                                  | 11,294,886                 
|End of period (including undistributed net investment income of $43,731 and undistributed net investment income of $68,609, respectively) | $	11,376,361                                | $	10,998,551               

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - Class A

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | Six months ended April 30, 2015 | Years ended October 31,
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------- | -----------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | (Unaudited)                     | 2014                   
|Selected Per-Share Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |                                 |                        
|Net asset value, beginning of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | $	38.70                         | $	39.49                
|Income from Investment Operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                                 |                        
|Net investment income (loss)E                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | .11                             | .53H                   
|Net realized and unrealized gain (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | 2.49                            | (.67)                  
|Total from investment operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | 2.60                            | (.14)                  
|Distributions from net investment income                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | (.11)                           | (.33)                  
|Distributions from net realized gain                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | -                               | (.31)                  
|Total distributions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | (.11)                           | (.65)L                 
|Redemption fees added to paid in capital E, J                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | -                               | -                      
|Net asset value, end of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | $	41.19                         | $	38.70                
|Total ReturnB, C, D                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | 6.74%                           | (.36)%                 
|Ratios to Average Net AssetsF, I                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |                                 |                        
|Expenses before reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | 1.33%A                          | 1.28%                  
|Expenses net of fee waivers, if any                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | 1.33%A                          | 1.28%                  
|Expenses net of all reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | 1.33%A                          | 1.28%                  
|Net investment income (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | .54%A                           | 1.35%H                 
|Supplemental Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                                 |                        
|Net assets, end of period (in millions)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | $	304                           | $	297                  
|Portfolio turnover rateG                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | 73%A,K                          | 57%                    
|AAnnualizedBTotal returns for periods of less than one year are not annualized.CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.DTotal returns do not include the effect of the sales charges.ECalculated based on average shares outstanding during the period.FFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.GAmount does not include the portfolio activity of any underlying Fidelity Central Funds.HInvestment income per share reflects a large, non-recurring dividend which amounted to $.22 per share. Excluding this non-recurring dividend, the ratio of net investment income (loss) to average net assets would have been .80%.IExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.JAmount represents less than $.01 per share.KPortfolio turnover rate excludes securities received or delivered in-kind.LTotal distributions of $.65 per share is comprised of distributions from net investment income of $.334 and distributions from net realized gain of $.311 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - Class T

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | Six months ended April 30, 2015 | Years ended October 31,
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------- | -----------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | (Unaudited)                     | 2014                   
|Selected Per-Share Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                                 |                        
|Net asset value, beginning of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | $	38.43                         | $	39.23                
|Income from Investment Operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |                                 |                        
|Net investment income (loss)E                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | .06                             | .44H                   
|Net realized and unrealized gain (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | 2.48                            | (.68)                  
|Total from investment operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | 2.54                            | (.24)                  
|Distributions from net investment income                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | (.02)                           | (.25)                  
|Distributions from net realized gain                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | -                               | (.31)                  
|Total distributions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | (.02)                           | (.56)                  
|Redemption fees added to paid in capital E, J                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | -                               | -                      
|Net asset value, end of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | $	40.95                         | $	38.43                
|Total ReturnB, C, D                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | 6.61%                           | (.60)%                 
|Ratios to Average Net AssetsF, I                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |                                 |                        
|Expenses before reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | 1.57%A                          | 1.51%                  
|Expenses net of fee waivers, if any                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | 1.57%A                          | 1.51%                  
|Expenses net of all reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | 1.57%A                          | 1.51%                  
|Net investment income (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | .30%A                           | 1.11%H                 
|Supplemental Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |                                 |                        
|Net assets, end of period (in millions)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $	47                            | $	49                   
|Portfolio turnover rateG                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | 73%A,K                          | 57%                    
|AAnnualizedBTotal returns for periods of less than one year are not annualized.CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.DTotal returns do not include the effect of the sales charges.ECalculated based on average shares outstanding during the period.FFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.GAmount does not include the portfolio activity of any underlying Fidelity Central Funds.HInvestment income per share reflects a large, non-recurring dividend which amounted to $.21 per share. Excluding this non-recurring dividend, the ratio of net investment income (loss) to average net assets would have been .56%.IExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.JAmount represents less than $.01 per share.KPortfolio turnover rate excludes securities received or delivered in-kind.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - Class B

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | Six months ended April 30, 2015 | Years ended October 31,
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------- | -----------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | (Unaudited)                     | 2014                   
|Selected Per-Share Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                                 |                        
|Net asset value, beginning of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | $	38.32                         | $	39.08                
|Income from Investment Operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                                 |                        
|Net investment income (loss)E                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | (.05)                           | .22H                   
|Net realized and unrealized gain (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | 2.48                            | (.66)                  
|Total from investment operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | 2.43                            | (.44)                  
|Distributions from net investment income                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | -                               | (.01)                  
|Distributions from net realized gain                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | -                               | (.31)                  
|Total distributions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | -                               | (.32)                  
|Redemption fees added to paid in capital E, J                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | -                               | -                      
|Net asset value, end of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | $	40.75                         | $	38.32                
|Total ReturnB, C, D                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | 6.34%                           | (1.12)%                
|Ratios to Average Net AssetsF, I                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |                                 |                        
|Expenses before reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | 2.11%A                          | 2.06%                  
|Expenses net of fee waivers, if any                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | 2.11%A                          | 2.06%                  
|Expenses net of all reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | 2.11%A                          | 2.05%                  
|Net investment income (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | (.24)%A                         | .57%H                  
|Supplemental Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                                 |                        
|Net assets, end of period (in millions)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | $	3                             | $	5                    
|Portfolio turnover rateG                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | 73%A,K                          | 57%                    
|AAnnualizedBTotal returns for periods of less than one year are not annualized.CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.DTotal returns do not include the effect of the contingent deferred sales charge.ECalculated based on average shares outstanding during the period.FFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.GAmount does not include the portfolio activity of any underlying Fidelity Central Funds.HInvestment income per share reflects a large, non-recurring dividend which amounted to $.21 per share. Excluding this non-recurring dividend, the ratio of net investment income (loss) to average net assets would have been .02%.IExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.JAmount represents less than $.01 per share.KPortfolio turnover rate excludes securities received or delivered in-kind.LTotal distributions of $.27 per share is comprised of distributions from net investment income of $.115 and distributions from net realized gain of $.155 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - Class C

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | Six months ended April 30, 2015 | Years ended October 31,
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------- | -----------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | (Unaudited)                     | 2014                   
|Selected Per-Share Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                                 |                        
|Net asset value, beginning of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | $	38.25                         | $	39.07                
|Income from Investment Operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                                 |                        
|Net investment income (loss)E                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | (.04)                           | .23H                   
|Net realized and unrealized gain (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | 2.47                            | (.66)                  
|Total from investment operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | 2.43                            | (.43)                  
|Distributions from net investment income                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | -                               | (.08)                  
|Distributions from net realized gain                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | -                               | (.31)                  
|Total distributions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | -                               | (.39)                  
|Redemption fees added to paid in capital E, J                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | -                               | -                      
|Net asset value, end of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | $	40.68                         | $	38.25                
|Total ReturnB, C, D                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | 6.35%                           | (1.10)%                
|Ratios to Average Net AssetsF, I                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |                                 |                        
|Expenses before reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | 2.08%A                          | 2.03%                  
|Expenses net of fee waivers, if any                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | 2.08%A                          | 2.03%                  
|Expenses net of all reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | 2.08%A                          | 2.02%                  
|Net investment income (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | (.21)%A                         | .60%H                  
|Supplemental Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                                 |                        
|Net assets, end of period (in millions)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | $	37                            | $	35                   
|Portfolio turnover rateG                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | 73%A,K                          | 57%                    
|AAnnualizedBTotal returns for periods of less than one year are not annualized.CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.DTotal returns do not include the effect of the contingent deferred sales charge.ECalculated based on average shares outstanding during the period.FFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.GAmount does not include the portfolio activity of any underlying Fidelity Central Funds.HInvestment income per share reflects a large, non-recurring dividend which amounted to $.21 per share. Excluding this non-recurring dividend, the ratio of net investment income (loss) to average net assets would have been .05%.IExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.JAmount represents less than $.01 per share.KPortfolio turnover rate excludes securities received or delivered in-kind.LTotal distributions of $.29 per share is comprised of distributions from net investment income of $.137 and distributions from net realized gain of $.155 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - International Discovery

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | Six months ended April 30, 2015 | Years ended October 31,
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------- | -----------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | (Unaudited)                     | 2014                   
|Selected Per-Share Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |                                 |                        
|Net asset value, beginning of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | $	39.03                         | $	39.82                
|Income from Investment Operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |                                 |                        
|Net investment income (loss)D                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | .17                             | .67G                   
|Net realized and unrealized gain (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | 2.52                            | (.68)                  
|Total from investment operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | 2.69                            | (.01)                  
|Distributions from net investment income                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | (.26)                           | (.47)                  
|Distributions from net realized gain                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | -                               | (.31)                  
|Total distributions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | (.26)                           | (.78)                  
|Redemption fees added to paid in capital D, I                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | -                               | -                      
|Net asset value, end of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | $	41.46                         | $	39.03                
|Total ReturnB, C                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | 6.92%                           | (.01)%                 
|Ratios to Average Net AssetsE, H                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |                                 |                        
|Expenses before reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | .99%A                           | .93%                   
|Expenses net of fee waivers, if any                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | .99%A                           | .93%                   
|Expenses net of all reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | .98%A                           | .93%                   
|Net investment income (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | .88%A                           | 1.69%G                 
|Supplemental Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |                                 |                        
|Net assets, end of period (in millions)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | $	7,510                         | $	7,464                
|Portfolio turnover rateF                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | 73%A,J                          | 57%                    
|AAnnualizedBTotal returns for periods of less than one year are not annualized.CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.DCalculated based on average shares outstanding during the period.EFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.FAmount does not include the portfolio activity of any underlying Fidelity Central Funds.GInvestment income per share reflects a large, non-recurring dividend which amounted to $.22 per share. Excluding this non-recurring dividend, the ratio of net investment income (loss) to average net assets would have been 1.15%.HExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.IAmount represents less than $.01 per share.JPortfolio turnover rate excludes securities received or delivered in-kind.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - Class K

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | Six months ended April 30, 2015 | Years ended October 31,
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ------------------------------- | -----------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | (Unaudited)                     | 2014                   
|Selected Per-Share Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                                 |                        
|Net asset value, beginning of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | $	38.97                         | $	39.76                
|Income from Investment Operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                                 |                        
|Net investment income (loss)D                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | .20                             | .72G                   
|Net realized and unrealized gain (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | 2.52                            | (.67)                  
|Total from investment operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | 2.72                            | .05                    
|Distributions from net investment income                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | (.31)                           | (.53)                  
|Distributions from net realized gain                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | -                               | (.31)                  
|Total distributions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | (.31)                           | (.84)                  
|Redemption fees added to paid in capital D, I                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | -                               | -                      
|Net asset value, end of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | $	41.38                         | $	38.97                
|Total ReturnB, C                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | 7.03%                           | .13%                   
|Ratios to Average Net AssetsE, H                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |                                 |                        
|Expenses before reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | .86%A                           | .80%                   
|Expenses net of fee waivers, if any                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | .86%A                           | .80%                   
|Expenses net of all reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | .85%A                           | .79%                   
|Net investment income (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | 1.01%A                          | 1.83%G                 
|Supplemental Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                                 |                        
|Net assets, end of period (in millions)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | $	2,535                         | $	2,464                
|Portfolio turnover rateF                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | 73%A,J                          | 57%                    
|AAnnualizedBTotal returns for periods of less than one year are not annualized.CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.DCalculated based on average shares outstanding during the period.EFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.FAmount does not include the portfolio activity of any underlying Fidelity Central Funds.GInvestment income per share reflects a large, non-recurring dividend which amounted to $.22 per share. Excluding this non-recurring dividend, the ratio of net investment income (loss) to average net assets would have been 1.28%.HExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.IAmount represents less than $.01 per share.JPortfolio turnover rate excludes securities received or delivered in-kind.KTotal distributions of $.70 per share is comprised of distributions from net investment income of $.548 and distributions from net realized gain of $.155 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - Institutional Class

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | Six months ended April 30, 2015 | Years ended October 31,
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ------------------------------- | -----------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | (Unaudited)                     | 2014                   
|Selected Per-Share Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                                 |                        
|Net asset value, beginning of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | $	38.96                         | $	39.76                
|Income from Investment Operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                                 |                        
|Net investment income (loss)D                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | .17                             | .67G                   
|Net realized and unrealized gain (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | 2.51                            | (.68)                  
|Total from investment operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | 2.68                            | (.01)                  
|Distributions from net investment income                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | (.26)                           | (.48)                  
|Distributions from net realized gain                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | -                               | (.31)                  
|Total distributions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | (.26)                           | (.79)                  
|Redemption fees added to paid in capital D, I                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | -                               | -                      
|Net asset value, end of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | $	41.38                         | $	38.96                
|Total ReturnB, C                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | 6.93%                           | (.01)%                 
|Ratios to Average Net AssetsE, H                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |                                 |                        
|Expenses before reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | 1.00%A                          | .93%                   
|Expenses net of fee waivers, if any                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | 1.00%A                          | .93%                   
|Expenses net of all reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | .99%A                           | .93%                   
|Net investment income (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | .87%A                           | 1.69%G                 
|Supplemental Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                                 |                        
|Net assets, end of period (in millions)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | $	900                           | $	650                  
|Portfolio turnover rateF                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | 73%A,J                          | 57%                    
|AAnnualizedBTotal returns for periods of less than one year are not annualized.CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.DCalculated based on average shares outstanding during the period.EFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.FAmount does not include the portfolio activity of any underlying Fidelity Central Funds.GInvestment income per share reflects a large, non-recurring dividend which amounted to $.22 per share. Excluding this non-recurring dividend, the ratio of net investment income (loss) to average net assets would have been 1.14%.HExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.IAmount represents less than $.01 per share.JPortfolio turnover rate excludes securities received or delivered in-kind.KTotal distributions of $.65 per share is comprised of distributions from net investment income of $.497 and distributions from net realized gain of $.155 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - Class Z

|                                              | Six months ended April 30, 2015 | Years ended October 31,
|--------------------------------------------- | ------------------------------- | -----------------------
|                                              | (Unaudited)                     | 2014                   
|Selected Per-Share Data                       |                                 |                        
|Net asset value, beginning of period          | $	38.96                         | $	39.77                
|Income from Investment Operations             |                                 |                        
|Net investment income (loss)D                 | .20                             | .72G                   
|Net realized and unrealized gain (loss)       | 2.51                            | (.68)                  
|Total from investment operations              | 2.71                            | .04                    
|Distributions from net investment income      | (.32)                           | (.54)                  
|Distributions from net realized gain          | -                               | (.31)                  
|Total distributions                           | (.32)                           | (.85)                  
|Redemption fees added to paid in capital D, J | -                               | -                      
|Net asset value, end of period                | $	41.35                         | $	38.96                
|Total ReturnB, C                              | 7.00%                           | .12%                   
|Ratios to Average Net AssetsE, I              |                                 |                        
|Expenses before reductions                    | .86%A                           | .80%                   
|Expenses net of fee waivers, if any           | .86%A                           | .80%                   
|Expenses net of all reductions                | .85%A                           | .79%                   
|Net investment income (loss)                  | 1.01%A                          | 1.83%G                 
|Supplemental Data                             |                                 |                        
|Net assets, end of period (000 omitted)       | $	39,986                        | $	35,125               
|Portfolio turnover rate F                     | 73%A, K                         | 57%                    

|AAnnualizedBTotal returns for periods of less than one year are not annualized.CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.DCalculated based on average shares outstanding during the period.EFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.FAmount does not include the portfolio activity of any underlying Fidelity Central Funds.GInvestment income per share reflects a large, non-recurring dividend which amounted to $.21 per share. Excluding this non-recurring dividend, the ratio of net investment income (loss) to average net assets would have been 1.28%.HFor the period August 13, 2013 (commencement of sale of shares) to October 31, 2013.IExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.JAmount represents less than $.01 per share.KPortfolio turnover rate excludes securities received or delivered in-kind.
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

---

# Notes to Financial Statements

For the period ended April 30, 2015 (Unaudited)

(Amounts in thousands except percentages)

1. Organization.

Fidelity® International Discovery Fund (the Fund) is a fund of Fidelity Investment Trust (the Trust) and is authorized to issue an unlimited number of shares. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Massachusetts business trust. The Fund offers Class A, Class T, Class C, International Discovery, Class K, Institutional Class and Class Z shares, each of which, along with Class B shares, has equal rights as to assets and voting privileges. Class B shares are closed to new accounts and additional purchases, except for exchanges and reinvestments. Each class has exclusive voting rights with respect to matters that affect that class. Class B shares will automatically convert to Class A shares after a holding period of seven years from the initial date of purchase.

2. Investments in Fidelity Central Funds.

The Fund invests in Fidelity Central Funds, which are open-end investment companies generally available only to other investment companies and accounts managed by the investment adviser and its affiliates. The Fund's Schedule of Investments lists each of the Fidelity Central Funds held as of period end, if any, as an investment of the Fund, but does not include the underlying holdings of each Fidelity Central Fund. As an Investing Fund, the Fund indirectly bears its proportionate share of the expenses of the underlying Fidelity Central Funds.

The Money Market Central Funds seek preservation of capital and current income and are managed by Fidelity Investments Money Management, Inc. (FIMM), an affiliate of the investment adviser. Annualized expenses of the Money Market Central Funds as of their most recent shareholder report date are less than .01%.

A complete unaudited list of holdings for each Fidelity Central Fund is available upon request or at the Securities and Exchange Commission (the SEC) website at www.sec.gov. In addition, the financial statements of the Fidelity Central Funds are available on the SEC website or upon request.

3. Significant Accounting Policies.

The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP), which require management to make certain estimates and assumptions at the date of the financial statements. Actual results could differ from those estimates. Subsequent events, if any, through the date that the financial statements were issued have been evaluated in the preparation of

Semiannual Report

Notes to Financial Statements (Unaudited) - continued

(Amounts in thousands except percentages)

3. Significant Accounting Policies - continued

the financial statements. The following summarizes the significant accounting policies of the Fund:

Investment Valuation.Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. The Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fidelity Management & Research Company (FMR) Fair Value Committee (the Committee). In accordance with valuation policies and procedures approved by the Board, the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events, changes in interest rates and credit quality. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund's valuation policies and procedures and reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee.

The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels as shown below:

Level 1 - quoted prices in active markets for identical investments

Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, etc.)

Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available)

Valuation techniques used to value the Fund's investments by major category are as follows:

Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing vendor on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs),

Semiannual Report

3. Significant Accounting Policies - continued

Investment Valuation - continued

futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. Utilizing these techniques may result in transfers between Level 1 and Level 2. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy.

Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing vendors or from brokers who make markets in such securities. Preferred securities and U.S. government and government agency obligations are valued by pricing vendors who utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type or by broker-supplied prices. When independent prices are unavailable or unreliable, debt securities may be valued utilizing pricing methodologies which consider similar factors that would be used by third party pricing vendors. Debt securities are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances.

Futures contracts are valued at the settlement price established each day by the board of trade or exchange on which they are traded and are categorized as Level 1 in the hierarchy. Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy.

Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. The aggregate value of investments by input level, as of April 30, 2015, including information on transfers between Levels 1 and 2 is included at the end of the Fund's Schedule of Investments.

Foreign Currency.The Fund may use foreign currency contracts to facilitate transactions in foreign-denominated securities. Gains and losses from these transactions may arise from changes in the value of the foreign currency or if the counterparties do not perform under the contracts' terms.

Foreign-denominated assets, including investment securities, and liabilities are translated into U.S. dollars at the exchange rates at period end. Purchases and sales of investment securities, income and dividends received and expenses denominated in foreign currencies are translated into U.S. dollars at the exchange rate in effect on the transaction date.

Semiannual Report

Notes to Financial Statements (Unaudited) - continued

(Amounts in thousands except percentages)

3. Significant Accounting Policies - continued

Foreign Currency - continued

The effects of exchange rate fluctuations on investments are included with the net realized and unrealized gain (loss) on investment securities. Other foreign currency transactions resulting in realized and unrealized gain (loss) are disclosed separately.

Investment Transactions and Income.For financial reporting purposes, the Fund's investment holdings and NAV include trades executed through the end of the last business day of the period. The NAV per share for processing shareholder transactions is calculated as of the close of business of the New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time and includes trades executed through the end of the prior business day. Gains and losses on securities sold are determined on the basis of identified cost and may include proceeds received from litigation. Dividend income is recorded on the ex-dividend date, except for certain dividends from foreign securities where the ex-dividend date may have passed, which are recorded as soon as the Fund is informed of the ex-dividend date. Non-cash dividends included in dividend income, if any, are recorded at the fair market value of the securities received. Income and capital gain distributions from Fidelity Central Funds, if any, are recorded on the ex-dividend date. Distributions received on securities that represent a return of capital or capital gain are recorded as a reduction of cost of investments and/or as a realized gain. Subsequent to ex-dividend date the Fund determines the components of these distributions, based upon receipt of tax filings or other correspondence relating to the underlying investment. Interest income is accrued as earned and includes coupon interest and amortization of premium and accretion of discount on debt securities as applicable. Investment income is recorded net of foreign taxes withheld where recovery of such taxes is uncertain.

Class Allocations andExpenses. Investment income, realized and unrealized capital gains and losses, common expenses of the Fund, and certain fund-level expense reductions, if any, are allocated daily on a pro-rata basis to each class based on the relative net assets of each class to the total net assets of the Fund. Each class differs with respect to transfer agent and distribution and service plan fees incurred. Certain expense reductions may also differ by class. For the reporting period, the allocated portion of income and expenses to each class as a percent of its average net assets may vary due to the timing of recording these transactions in relation to fluctuating net assets of the classes. Expenses directly attributable to a fund are charged to that fund. Expenses attributable to more than one fund are allocated among the respective funds on the basis of relative net assets or other appropriate methods. Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.

Semiannual Report

3. Significant Accounting Policies - continued

DeferredTrustee Compensation. Under a Deferred Compensation Plan (the Plan), independent Trustees may elect to defer receipt of a portion of their annual compensation. Deferred amounts are invested in a cross-section of Fidelity funds, are marked-to-market and remain in the Fund until distributed in accordance with the Plan. The investment of deferred amounts and the offsetting payable to the Trustees are included in the accompanying Statement of Assets and Liabilities.

Income Tax Information and Distributions to Shareholders. Each year, the Fund intends to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code, including distributing substantially all of its taxable income and realized gains. As a result, no provision for U.S. Federal income taxes is required. The Fund files a U.S. federal tax return, in addition to state and local tax returns as required. The Fund's federal income tax returns are subject to examination by the Internal Revenue Service (IRS) for a period of three fiscal years after they are filed. State and local tax returns may be subject to examination for an additional fiscal year depending on the jurisdiction. Foreign taxes are provided for based on the Fund's understanding of the tax rules and rates that exist in the foreign markets in which it invests. The Fund is subject to a tax imposed on capital gains by certain countries in which it invests. An estimated deferred tax liability for net unrealized appreciation on the applicable securities is included in Other payables and accrued expenses on the Statement of Assets & Liabilities.

Distributions are declared and recorded on the ex-dividend date. Income dividends and capital gain distributions are declared separately for each class. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP.

Capital accounts within the financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations. Capital accounts are not adjusted for temporary book-tax differences which will reverse in a subsequent period.

Book-tax differences are primarily due to futures contracts, foreign currency transactions, passive foreign investment companies (PFIC), market discount, deferred trustees compensation, capital loss carryforwards and losses deferred due to wash sales.

The federal tax cost of investment securities and unrealized appreciation (depreciation) as of period end were as follows:

|Gross unrealized appreciation                            | $	2,018,808
|-------------------------------------------------------- | -----------
|Gross unrealized depreciation                            | (238,932)  
|Net unrealized appreciation (depreciation) on securities | $	1,779,876
|                                                         |            
|Tax cost                                                 | $	9,718,007

Semiannual Report

Notes to Financial Statements (Unaudited) - continued

(Amounts in thousands except percentages)

3. Significant Accounting Policies - continued

Income Tax Information and Distributions to Shareholders - continued

Capital loss carryforwards are only available to offset future capital gains of the Fund to the extent provided by regulations and may be limited. Under the Regulated Investment Company Modernization Act of 2010 (the Act), the Fund is permitted to carry forward capital losses incurred in taxable years beginning after December 22, 2010 for an unlimited period and such capital losses are required to be used prior to any losses that expire. The capital loss carryforward information presented below, including any applicable limitation, is estimated as of prior fiscal period end and is subject to adjustment.

|Fiscal year of expiration |            
|------------------------- | -----------
|2017                      | $	(227,245)

Short-Term Trading (Redemption) Fees. Shares held by investors in the Fund less than 30 days may have been subject to a redemption fee equal to 1.00% of the NAV of shares redeemed. All redemption fees, which reduce the proceeds of the shareholder redemption, are retained by the Fund and accounted for as an addition to paid in capital.

Restricted Securities. The Fund may invest in securities that are subject to legal or contractual restrictions on resale. These securities generally may be resold in transactions exempt from registration or to the public if the securities are registered. Disposal of these securities may involve time-consuming negotiations and expense, and prompt sale at an acceptable price may be difficult. Information regarding restricted securities is included at the end of the Fund's Schedule of Investments.

New Accounting Pronouncement.In June 2014, the Financial Accounting Standards Board issued Accounting Standard Update No. 2014-11, Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures (the Update). The Update amends the accounting for certain repurchase agreements and expands disclosure requirements for reverse repurchase agreements, securities lending and other similar transactions. The disclosure requirements are effective for annual and interim reporting periods beginning after December 15, 2014. Management is currently evaluating the impact of the Update on the Fund's financial statements and related disclosures.

4. Derivative Instruments.

Risk Exposures and the Use of Derivative Instruments. The Fund's investment objective allows the Fund to enter into various types of derivative contracts, including futures contracts. Derivatives are investments whose value is primarily derived from underlying assets, indices or reference rates and may be transacted on an exchange or over-the-counter (OTC). Derivatives may involve a future commitment to buy or sell a specified asset based on specified terms, to exchange future cash flows at periodic

Semiannual Report

4. Derivative Instruments - continued

Risk Exposures and the Use of Derivative Instruments - continued

intervals based on a notional principal amount, or for one party to make one or more payments upon the occurrence of specified events in exchange for periodic payments from the other party.

The Fund used derivatives to increase returns and to manage exposure to certain risks as defined below. The success of any strategy involving derivatives depends on analysis of numerous economic factors, and if the strategies for investment do not work as intended, the Fund may not achieve its objectives.

The Fund's use of derivatives increased or decreased its exposure to the following risk:

|Equity Risk | Equity risk relates to the fluctuations in the value of financial instruments as a result of changes in market prices (other than those arising from interest rate risk or foreign exchange risk), whether caused by factors specific to an individual investment, its issuer, or all factors affecting all instruments traded in a market or market segment.
|----------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

The Fund is also exposed to additional risks from investing in derivatives, such as liquidity risk and counterparty credit risk. Liquidity risk is the risk that the Fund will be unable to close out the derivative in the open market in a timely manner. Counterparty credit risk is the risk that the counterparty will not be able to fulfill its obligation to the Fund. Counterparty credit risk related to exchange-traded futures contracts may be mitigated by the protection provided by the exchange on which they trade.

Investing in derivatives may involve greater risks than investing in the underlying assets directly and, to varying degrees, may involve risk of loss in excess of any initial investment and collateral received and amounts recognized in the Statement of Assets and Liabilities. In addition, there may be the risk that the change in value of the derivative contract does not correspond to the change in value of the underlying instrument.

Futures Contracts.A futures contract is an agreement between two parties to buy or sell a specified underlying instrument for a fixed price at a specified future date. The Fund used futures contracts to manage its exposure to the stock market.

Upon entering into a futures contract, a fund is required to deposit either cash or securities (initial margin) with a clearing broker in an amount equal to a certain percentage of the face value of the contract. Futures contracts are marked-to-market daily and subsequent daily payments (variation margin) are made or received by a fund depending on the daily fluctuations in the value of the futures contracts and are recorded as unrealized appreciation or (depreciation). This receivable and/or payable, if any, is included in daily variation margin for derivative instruments in the Statement of Assets and Liabilities. Realized gain or (loss) is recorded upon the expiration or closing of a futures contract.

Semiannual Report

Notes to Financial Statements (Unaudited) - continued

(Amounts in thousands except percentages)

4. Derivative Instruments - continued

Futures Contracts - continued

Any open futures contracts at period end are presented in the Schedule of Investments under the caption "Futures Contracts." The underlying face amount at value reflects each contract's exposure to the underlying instrument or index at period end.

During the period the Fund recognized net realized gain (loss) of $42,556 and a change in net unrealized appreciation (depreciation) of $(18,692) related to its investment in futures contracts. These amounts are included in the Statement of Operations.

5. Purchases and Sales of Investments.

Purchases and sales of securities, other than short-term securities and in-kind transactions, aggregated $3,937,889 and $3,850,750, respectively.

Redemptions In-Kind. During the period, 2,460 shares of the Fund held by unaffiliated entities were redeemed for cash and investments, including accrued interest with a value of $92,600. The net realized gain of $15,499 on investments delivered through in-kind redemptions is included in the accompanying Statement of Operations. The amount of in-kind redemptions is included in share transactions in the accompanying Statement of Changes in Net Assets as well as Note 11: Share Transactions. The Fund recognized no gain or loss for federal income tax purposes.

6. Fees and Other Transactions with Affiliates.

Management Fee. Fidelity Management & Research Company (the investment adviser) and its affiliates provide the Fund with investment management related services for which the Fund pays a monthly management fee. The management fee is the sum of an individual fund fee rate that is based on an annual rate of .424% of the Fund's average net assets and an annualized group fee rate that averaged .25% during the period. The group fee rate is based upon the average net assets of all the mutual funds advised by the investment adviser, including any mutual funds previously advised by the investment adviser that are currently advised by Fidelity SelectCo, LLC, an affiliate of the investment adviser. The group fee rate decreases as assets under management increase and increases as assets under management decrease. In addition, the management fee is subject to a performance adjustment (up to a maximum of ± .20% of the Fund's average net assets over a 36 month performance period). The upward or downward adjustment to the management fee is based on the relative investment performance of International Discovery as compared to its benchmark index, the MSCI EAFE Index, over the same 36 month performance period. For the reporting period, the total annualized management fee rate, including the performance adjustment, was .77% of the Fund's average net assets. The performance adjustment included in the management fee rate may be higher

Semiannual Report

6. Fees and Other Transactions with Affiliates - continued

Management Fee - continued

or lower than the maximum performance adjustment rate due to the difference between the average net assets for the reporting and performance periods.

Distribution and Service Plan Fees. In accordance with Rule 12b-1 of the 1940 Act, the Fund has adopted separate Distribution and Service Plans for each class of shares. Certain classes pay Fidelity Distributors Corporation (FDC), an affiliate of the investment adviser, separate Distribution and Service Fees, each of which is based on an annual percentage of each class' average net assets. In addition, FDC may pay financial intermediaries for selling shares of the Fund and providing shareholder support services. For the period, the Distribution and Service Fee rates, total fees and amounts retained by FDC were as follows:

|        | Distribution
Fee | Service
Fee | Total Fees | Retained
by FDC
|------- | ---------------- | ----------- | ---------- | ---------------
|Class A | -%               | .25%        | $	366      | $	7            
|Class T | .25%             | .25%        | 116        | 2              
|Class B | .75%             | .25%        | 20         | 15             
|Class C | .75%             | .25%        | 175        | 20             
|        |                  |             | $	677      | $	44           

Sales Load. FDC may receive a front-end sales charge of up to 5.75% for selling Class A shares and 3.50% for selling Class T shares, some of which is paid to financial intermediaries for selling shares of the Fund. Depending on the holding period, FDC may receive contingent deferred sales charges levied on Class A, Class T, Class B, and Class C redemptions. The deferred sales charges range from 5.00% to 1.00% for Class B shares, 1.00% for Class C shares, 1.00% for certain purchases of Class A shares and .25% for certain purchases of Class T shares.

For the period, sales charge amounts retained by FDC were as follows:

|         | Retained
by FDC
|-------- | ---------------
|Class A  | $	28           
|Class T  | 4              
|Class B* | 1              
|Class C* | 2              
|         | $	35           

*When Class B and Class C shares are initially sold, FDC pays commissions from its own resources to financial intermediaries through which the sales 	are made.

Transfer Agent Fees.Fidelity Investments Institutional Operations Company, Inc., (FIIOC), an affiliate of the investment adviser, is the transfer, dividend disbursing and

Semiannual Report

Notes to Financial Statements (Unaudited) - continued

(Amounts in thousands except percentages)

6. Fees and Other Transactions with Affiliates - continued

Transfer Agent Fees - continued

shareholder servicing agent for each class of the Fund. FIIOC receives account fees and asset-based fees that vary according to the account size and type of account of the shareholders of the respective classes of the Fund, except for Class K and Class Z. FIIOC receives an asset-based fee of Class K's and Class Z's average net assets. FIIOC pays for typesetting, printing and mailing of shareholder reports, except proxy statements.

For the period, transfer agent fees for each class were as follows:

|                        | Amount  | % of
Class-Level Average
Net Assets*
|----------------------- | ------- | ------------------------------------
|Class A                 | $	395   | .27                                 
|Class T                 | 60      | .26                                 
|Class B                 | 6       | .30                                 
|Class C                 | 47      | .27                                 
|International Discovery | 6,558   | .18                                 
|Class K                 | 578     | .05                                 
|Institutional Class     | 722     | .19                                 
|Class Z                 | 8       | .05                                 
|                        | $	8,374 |                                     

*Annualized

Accounting and Security Lending Fees.Fidelity Service Company, Inc. (FSC), an affiliate of the investment adviser, maintains the Fund's accounting records. The accounting fee is based on the level of average net assets for each month. Under a separate contract, FSC administers the security lending program. The security lending fee is based on the number and duration of lending transactions.

Brokerage Commissions.The Fund placed a portion of its portfolio transactions with brokerage firms which are affiliates of the investment adviser. Brokerage commissions are included in net realized gain (loss) and change in net unrealized appreciation (depreciation) in the Statement of Operations. The commissions paid to these affiliated firms were $5 for the period.

7. Committed Line of Credit.

The Fund participates with other funds managed by the investment adviser or an affiliate in a $4.25 billion credit facility (the "line of credit") to be utilized for temporary or emergency purposes to fund shareholder redemptions or for other short-term liquidity purposes. The Fund has agreed to pay commitment fees on its pro-rata portion of the line of credit, which amounted to $9 and is reflected in Miscellaneous expenses on the

Semiannual Report

7. Committed Line of Credit - continued

Statement of Operations. During the period, the Fund did not borrow on this line of credit.

8. Security Lending.

The Fund lends portfolio securities through a lending agent from time to time in order to earn additional income. For equity securities, a lending agent is used and may loan securities to certain qualified borrowers, including Fidelity Capital Markets (FCM), a broker-dealer affiliated with the Fund. On the settlement date of the loan, the Fund receives collateral (in the form of U.S. Treasury obligations, letters of credit and/or cash) against the loaned securities and maintains collateral in an amount not less than 100% of the market value of the loaned securities during the period of the loan. The market value of the loaned securities is determined at the close of business of the Fund and any additional required collateral is delivered to the Fund on the next business day. If the borrower defaults on its obligation to return the securities loaned because of insolvency or other reasons, the Fund may apply collateral received from the borrower against the obligation. The Fund may experience delays and costs in recovering the securities loaned. Any cash collateral received is invested in the Fidelity Securities Lending Cash Central Fund. The value of loaned securities and cash collateral at period end are disclosed on the Fund's Statement of Assets and Liabilities. Security lending income represents the income earned on investing cash collateral, less rebates paid to borrowers and any lending agent fees associated with the loan, plus any premium payments received for lending certain types of securities. Security lending income is presented in the Statement of Operations as a component of income from Fidelity Central Funds. Total security lending income during the period amounted to $1,811. During the period, there were no securities loaned to FCM.

9. Expense Reductions.

Commissions paid to certain brokers with whom the investment adviser, or its affiliates, places trades on behalf of the Fund include an amount in addition to trade execution, which may be rebated back to the Fund to offset certain expenses. This amount totaled $155 for the period.

In addition, the investment adviser reimbursed a portion of the Fund's operating expenses, including certain International Discovery expenses during the period in the amount of $5.

Semiannual Report

Notes to Financial Statements (Unaudited) - continued

(Amounts in thousands except percentages)

10. Distributions to Shareholders.

Distributions to shareholders of each class were as follows:

|                           | Six months ended
April 30,
2015 | Year ended
October 31,
2014
|-------------------------- | ------------------------------- | ---------------------------
|From net investment income |                                 |                            
|Class A                    | $	864                           | $	2,857                    
|Class T                    | 23                              | 344                        
|Class B                    | -                               | 2                          
|Class C                    | -                               | 79                         
|International Discovery    | 49,040                          | 93,065                     
|Class K                    | 19,835                          | 33,983                     
|Institutional Class        | 4,544                           | 5,936                      
|Class Z                    | 283                             | 60                         
|Total                      | $	74,589                        | $	136,326                  
|From net realized gain     |                                 |                            
|Class A                    | $	-                             | $	2,660                    
|Class T                    | -                               | 423                        
|Class B                    | -                               | 52                         
|Class C                    | -                               | 295                        
|International Discovery    | -                               | 61,190                     
|Class K                    | -                               | 20,093                     
|Institutional Class        | -                               | 3,838                      
|Class Z                    | -                               | 35                         
|Total                      | $	-                             | $	88,586                   

11. Share Transactions.

Share transactions for each class were as follows and may contain automatic conversions between classes or exchanges between funds:

|                              | Shares                          | Dollars                    
|----------------------------- | ------------------------------- | ---------------------------
|                              | Six months ended April 30,
2015 | Year ended
October 31,
2014
|Class A                       |                                 |                            
|Shares sold                   | 692                             | 1,382                      
|Reinvestment of distributions | 22                              | 137                        
|Shares redeemed               | (1,000)                         | (2,632)                    
|Net increase (decrease)       | (286)                           | (1,113)                    
|Class T                       |                                 |                            
|Shares sold                   | 96                              | 200                        
|Reinvestment of distributions | 1                               | 19                         
|Shares redeemed               | (215)                           | (311)                      
|Net increase (decrease)       | (118)                           | (92)                       

Semiannual Report

11. Share Transactions - continued

|                              | Shares                          | Dollars                    
|----------------------------- | ------------------------------- | ---------------------------
|                              | Six months ended April 30,
2015 | Year ended
October 31,
2014
|Class B                       |                                 |                            
|Shares sold                   | 1                               | 6                          
|Reinvestment of distributions | -                               | 1                          
|Shares redeemed               | (38)                            | (58)                       
|Net increase (decrease)       | (37)                            | (51)                       
|Class C                       |                                 |                            
|Shares sold                   | 104                             | 232                        
|Reinvestment of distributions | -                               | 9                          
|Shares redeemed               | (119)                           | (250)                      
|Net increase (decrease)       | (15)                            | (9)                        
|International Discovery       |                                 |                            
|Shares sold                   | 10,812                          | 28,809                     
|Reinvestment of distributions | 1,199                           | 3,813                      
|Shares redeemed               | (22,134)                        | (37,231)                   
|Net increase (decrease)       | (10,123)                        | (4,609)                    
|Class K                       |                                 |                            
|Shares sold                   | 8,328                           | 15,775                     
|Reinvestment of distributions | 508                             | 1,396                      
|Shares redeemed               | (10,794)A                       | (18,729)                   
|Net increase (decrease)       | (1,958)                         | (1,558)                    
|Institutional Class           |                                 |                            
|Shares sold                   | 7,532                           | 10,468                     
|Reinvestment of distributions | 33                              | 91                         
|Shares redeemed               | (2,496)                         | (5,852)                    
|Net increase (decrease)       | 5,069                           | 4,707                      
|Class Z                       |                                 |                            
|Shares sold                   | 153                             | 993                        
|Reinvestment of distributions | 7                               | 2                          
|Shares redeemed               | (95)                            | (96)                       
|Net increase (decrease)       | 65                              | 899                        

AAmount includes in-kind redemptions (see Note 5: Redemptions In-Kind).

Semiannual Report

Notes to Financial Statements (Unaudited) - continued

(Amounts in thousands except percentages)

12. Other.

The Fund's organizational documents provide former and current trustees and officers with a limited indemnification against liabilities arising in connection with the performance of their duties to the Fund. In the normal course of business, the Fund may also enter into contracts that provide general indemnifications. The Fund's maximum exposure under these arrangements is unknown as this would be dependent on future claims that may be made against the Fund. The risk of material loss from such claims is considered remote.

At the end of the period, Strategic Advisers International Fund was the owner of record of approximately 13% of the total outstanding shares of the Fund.

Semiannual Report

Investment Adviser

Fidelity Management & Research Company
Boston, MA

Investment Sub-Advisers

FMR Co., Inc.

FMR Investment Management 
(U.K.) Limited

FIL Investment Advisors

FIL Investments (Japan) Limited

FIL Investment Advisors (U.K.) Limited

Fidelity Management & Research
(Hong Kong) Limited

Fidelity Management & Research 
(Japan) Limited

General Distributor

Fidelity Distributors Corporation

Smithfield, RI

Transfer and Service Agents

Fidelity Investments Institutional Operations Company, Inc.

Boston, MA

Fidelity Service Company, Inc.

Boston, MA

Custodian

The Northern Trust Company

Chicago, IL



(Fidelity Investment logo)(registered trademark)

`AID-USAN-0615
1.806663.110`

(Fidelity Investment logo)(registered trademark)Fidelity Advisor®

International Discovery

Fund - Institutional Class

Semiannual Report

April 30, 2015(Fidelity Cover Art)

Institutional Class is
a class of Fidelity®
International Discovery Fund

---

# Contents

|Shareholder Expense Example | (Click Here) | An example of shareholder expenses.                                                                          
|--------------------------- | ------------ | -------------------------------------------------------------------------------------------------------------
|Investment Changes          | (Click Here) | A summary of major shifts in the fund's investments over the past six months.                                
|Investments                 | (Click Here) | A complete list of the fund's investments with their market values.                                          
|Financial Statements        | (Click Here) | Statements of assets and liabilities, operations, and changes in net assets, as well as financial highlights.
|Notes                       | (Click Here) | Notes to financial statements.                                                                               

To view a fund's proxy voting guidelines and proxy voting record for the 12-month period ended June 30, visit http://www.fidelity.com/proxyvotingresults or visit the Securities and Exchange Commission's (SEC) web site at http://www.sec.gov. You may also call 1-877-208-0098 to request a free copy of the proxy voting guidelines.

Standard & Poor's, S&P and S&P 500 are registered service marks of The McGraw-Hill Companies, Inc. and have been licensed for use by Fidelity Distributors Corporation.

Other third-party marks appearing herein are the property of their respective owners.

All other marks appearing herein are registered or unregistered trademarks or service marks of FMR LLC or an affiliated company. © 2015 FMR LLC. All rights reserved.

This report and the financial statements contained herein are submitted for the general information of the shareholders of the fund. This report is not authorized for distribution to prospective investors in the fund unless preceded or accompanied by an effective prospectus.

A fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-Q. Forms N-Q are available on the SEC's web site at http://www.sec.gov.A fund's Forms N-Q may be reviewed and copied at the SEC's Public Reference Room in Washington, DC. Information regarding the operation of the SEC's Public Reference Room may be obtained by calling 1-800-SEC-0330. For a complete list of a fund's portfolio holdings, view the most recent holdings listing, semiannual report, or annual report on Fidelity's web site at http://www.fidelity.com, http://www.advisor.fidelity.com, or http://www.401k.com, as applicable.

NOT FDIC INSURED • MAY LOSE VALUE • NO BANK GUARANTEE

Neither the fund nor Fidelity Distributors Corporation is a bank.

Semiannual Report

---

# Shareholder Expense Example

As a shareholder of the Fund, you incur two types of costs: (1) transaction costs, including sales charges (loads) on purchase payments or redemption proceeds, redemption fees and (2) ongoing costs, including management fees, distribution and/or service (12b-1) fees and other Fund expenses. This Example is intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds.

The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (November 1, 2014 to April 30, 2015).

Actual Expenses

The first line of the accompanying table for each class of the Fund provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000.00 (for example, an $8,600 account value divided by $1,000.00 = 8.6), then multiply the result by the number in the first line for a class of the Fund under the heading entitled "Expenses Paid During Period" to estimate the expenses you paid on your account during this period. A small balance maintenance fee of $12.00 that is charged once a year may apply for certain accounts with a value of less than $2,000. This fee is not included in the table below. If it was, the estimate of expenses you paid during the period would be higher, and your ending account value lower, by this amount. In addition, the Fund, as a shareholder in the underlying Fidelity Central Funds, will indirectly bear its pro-rata share of the fees and expenses incurred by the underlying Fidelity Central Funds. These fees and expenses are not included in the Fund's annualized expense ratio used to calculate the expense estimate in the table below.

Hypothetical Example for Comparison Purposes

The second line of the accompanying table for each class of the Fund provides information about hypothetical account values and hypothetical expenses based on a Class' actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Class' actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds. A small balance maintenance fee of $12.00 that is charged once a year may apply for certain accounts with a value of less than $2,000. This fee is not included in the table below. If it was, the estimate of expenses you paid during the period would be higher, and your ending account value lower, by this amount. In addition, the Fund, as a shareholder in the underlying Fidelity Central Funds, will indirectly bear its pro-rata share of the fees and expenses incurred by the underlying Fidelity Central Funds. These fees and expenses are not included in the Fund's annualized expense ratio used to calculate the expense estimate in the table below.

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transaction costs. Therefore, the second line of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.

Semiannual Report

Shareholder Expense Example - continued

|                        | Annualized
Expense RatioB | Beginning
Account Value
November 1, 2014 | Ending
Account Value
April 30, 2015 | Expenses Paid
During Period*November 1, 2014
to April 30, 2015
|----------------------- | ------------------------- | ---------------------------------------- | ----------------------------------- | --------------------------------------------------------------
|Class A                 | 1.33%                     |                                          |                                     |                                                               
|Actual                  |                           | $	1,000.00                               | $	1,067.40                          | $	6.82                                                        
|HypotheticalA           |                           | $	1,000.00                               | $	1,018.20                          | $	6.66                                                        
|Class T                 | 1.57%                     |                                          |                                     |                                                               
|Actual                  |                           | $	1,000.00                               | $	1,066.10                          | $	8.04                                                        
|HypotheticalA           |                           | $	1,000.00                               | $	1,017.01                          | $	7.85                                                        
|Class B                 | 2.11%                     |                                          |                                     |                                                               
|Actual                  |                           | $	1,000.00                               | $	1,063.40                          | $	10.79                                                       
|HypotheticalA           |                           | $	1,000.00                               | $	1,014.33                          | $	10.54                                                       
|Class C                 | 2.08%                     |                                          |                                     |                                                               
|Actual                  |                           | $	1,000.00                               | $	1,063.50                          | $	10.64                                                       
|HypotheticalA           |                           | $	1,000.00                               | $	1,014.48                          | $	10.39                                                       
|International Discovery | .99%                      |                                          |                                     |                                                               
|Actual                  |                           | $	1,000.00                               | $	1,069.20                          | $	5.08                                                        
|HypotheticalA           |                           | $	1,000.00                               | $	1,019.89                          | $	4.96                                                        
|Class K                 | .86%                      |                                          |                                     |                                                               
|Actual                  |                           | $	1,000.00                               | $	1,070.30                          | $	4.41                                                        
|HypotheticalA           |                           | $	1,000.00                               | $	1,020.53                          | $	4.31                                                        
|Institutional Class     | 1.00%                     |                                          |                                     |                                                               
|Actual                  |                           | $	1,000.00                               | $	1,069.30                          | $	5.13                                                        
|HypotheticalA           |                           | $	1,000.00                               | $	1,019.84                          | $	5.01                                                        
|Class Z                 | .86%                      |                                          |                                     |                                                               
|Actual                  |                           | $	1,000.00                               | $	1,070.00                          | $	4.41                                                        
|HypotheticalA           |                           | $	1,000.00                               | $	1,020.53                          | $	4.31                                                        

A5% return per year before expenses

BAnnualized expense ratio reflects expenses net of applicable fee waivers.

*Expenses are equal to each Class' annualized expense ratio, multiplied by the average account value over the period, multiplied by 181/365 (to reflect the one-half year period).

Semiannual Report

---

# Investment Changes (Unaudited)

|Geographic Diversification (% of fund's net assets)
|---------------------------------------------------
|As of April 30, 2015                               
|int999                                             
|int1001                                            
|int1003                                            
|int1005                                            
|int1007                                            
|int1009                                            
|int1011                                            
|int1013                                            
|int1015                                            
|int1017                                            

int1019

|*Includes Short-Term Investments and Net Other Assets (Liabilities).                                                               
|-----------------------------------------------------------------------------------------------------------------------------------
|Percentages are based on country or territory of incorporation and are adjusted for the effect of futures contracts, if applicable.

|As of October 31, 2014
|----------------------
|int1021               
|int1023               
|int1025               
|int1027               
|int1029               
|int1031               
|int1033               
|int1035               
|int1037               
|int1039               

int1041

|*Includes Short-Term Investments and Net Other Assets (Liabilities).                                                               
|-----------------------------------------------------------------------------------------------------------------------------------
|Percentages are based on country or territory of incorporation and are adjusted for the effect of futures contracts, if applicable.

|Asset Allocation as of April 30, 2015                                        
|-----------------------------------------------------------------------------
|                                                                             
|Stocks and Equity Futures                                                    
|Other Investments                                                            
|Short-Term Investments and Net Other Assets (Liabilities)                    
|Top Ten Stocks as of April 30, 2015                                          
|                                                                             
|Total SA (France, Oil, Gas & Consumable Fuels)                               
|Novartis AG (Switzerland, Pharmaceuticals)                                   
|Anheuser-Busch InBev SA NV (Belgium, Beverages)                              
|Unilever NV (Certificaten Van Aandelen) (Bearer) (Netherlands, Food Products)
|AIA Group Ltd. (Hong Kong, Insurance)                                        
|Techtronic Industries Co. Ltd. (Hong Kong, Household Durables)               
|Shire PLC (Bailiwick of Jersey, Pharmaceuticals)                             
|Housing Development Finance Corp. Ltd. (India, Thrifts & Mortgage Finance)   
|Astellas Pharma, Inc. (Japan, Pharmaceuticals)                               
|Australia & New Zealand Banking Group Ltd. (Australia, Banks)                
|                                                                             
|Market Sectors as of April 30, 2015                                          
|                                                                             
|Financials                                                                   
|Consumer Discretionary                                                       
|Health Care                                                                  
|Industrials                                                                  
|Information Technology                                                       
|Consumer Staples                                                             
|Energy                                                                       
|Telecommunication Services                                                   
|Materials                                                                    
|Utilities                                                                    

Semiannual Report

---

# Investments April 30, 2015 (Unaudited)

Showing Percentage of Net Assets

|Common Stocks - 96.1%                                
|-----------------------------------------------------
|                                                     
|Australia - 2.8%                                     
|Ansell Ltd.                                          
|Australia & New Zealand Banking Group Ltd.           
|Flight Centre Travel Group Ltd. (e)                  
|G8 Education Ltd.                                    
|Greencross Ltd.                                      
|Mantra Group Ltd.                                    
|Ramsay Health Care Ltd.                              
|Spotless Group Holdings Ltd.                         
|TOTAL AUSTRALIA                                      
|Austria - 0.2%                                       
|Andritz AG                                           
|Bailiwick of Jersey - 2.2%                           
|MySale Group PLC (f)                                 
|Regus PLC                                            
|Shire PLC                                            
|Wolseley PLC                                         
|TOTAL BAILIWICK OF JERSEY                            
|Belgium - 2.7%                                       
|Anheuser-Busch InBev SA NV                           
|KBC Groep NV                                         
|TOTAL BELGIUM                                        
|Bermuda - 1.3%                                       
|BW Offshore Ltd.                                     
|Haier Electronics Group Co. Ltd.                     
|PAX Global Technology Ltd. (a)(f)                    
|Travelport Worldwide Ltd. (e)                        
|TOTAL BERMUDA                                        
|Canada - 2.5%                                        
|Alimentation Couche-Tard, Inc. Class B (sub. vtg.)   
|Constellation Software, Inc.                         
|Constellation Software, Inc. rights 9/15/15 (a)      
|Imperial Oil Ltd.                                    
|Potash Corp. of Saskatchewan, Inc.                   
|PrairieSky Royalty Ltd. (e)                          
|Suncor Energy, Inc.                                  
|TransForce, Inc.                                     
|TOTAL CANADA                                         
|Common Stocks - continued                            
|                                                     
|Cayman Islands - 0.8%                                
|Alibaba Group Holding Ltd. sponsored ADR             
|Lee's Pharmaceutical Holdings Ltd.                   
|Value Partners Group Ltd.                            
|WuXi PharmaTech Cayman, Inc. sponsored ADR (a)       
|TOTAL CAYMAN ISLANDS                                 
|China - 1.0%                                         
|Daqin Railway Co. Ltd. (A Shares)                    
|Inner Mongoli Yili Industries Co. Ltd.               
|Jiangsu Hengrui Medicine Co. Ltd.                    
|Kweichow Moutai Co. Ltd.                             
|Yantai Changyu Pioneer Wine Co. Ltd. (B Shares)      
|TOTAL CHINA                                          
|Cyprus - 0.0%                                        
|SPDI Secure Property Development & Investment PLC (a)
|Denmark - 1.3%                                       
|Novo Nordisk A/S Series B                            
|Vestas Wind Systems A/S                              
|TOTAL DENMARK                                        
|Egypt - 0.0%                                         
|Edita Food Industries SAE GDR (a)(g)                 
|Finland - 0.7%                                       
|Sampo Oyj (A Shares)                                 
|France - 8.0%                                        
|Accor SA                                             
|Air Liquide SA                                       
|AXA SA                                               
|BNP Paribas SA                                       
|Cap Gemini SA                                        
|Havas SA                                             
|Ingenico SA                                          
|Numericable Group SA (a)                             
|Rexel SA                                             
|Safran SA                                            
|Schneider Electric SA (e)                            
|Sodexo SA (a)                                        
|SR Teleperformance SA                                
|Total SA                                             
|Common Stocks - continued                            
|                                                     
|France - continued                                   
|Unibail-Rodamco                                      
|Zodiac Aerospace                                     
|TOTAL FRANCE                                         
|Germany - 5.3%                                       
|Aareal Bank AG                                       
|Bayer AG                                             
|Beiersdorf AG                                        
|Continental AG (e)                                   
|Deutsche Annington Immobilien SE                     
|Deutsche Boerse AG                                   
|Deutsche Telekom AG                                  
|Fresenius SE & Co. KGaA                              
|GEA Group AG                                         
|KION Group AG                                        
|LEG Immobilien AG                                    
|ProSiebenSat.1 Media AG                              
|TOTAL GERMANY                                        
|Hong Kong - 2.7%                                     
|AIA Group Ltd.                                       
|Hutchison Whampoa Ltd.                               
|Techtronic Industries Co. Ltd.                       
|TOTAL HONG KONG                                      
|India - 3.6%                                         
|Bharti Infratel Ltd.                                 
|Edelweiss Financial Services Ltd.                    
|HDFC Bank Ltd. sponsored ADR                         
|Housing Development Finance Corp. Ltd.               
|Info Edge India Ltd.                                 
|Lupin Ltd.                                           
|Sun Pharmaceutical Industries Ltd. (a)               
|The Jammu & Kashmir Bank Ltd.                        
|Titan Co. Ltd. (a)                                   
|Yes Bank Ltd.                                        
|TOTAL INDIA                                          
|Indonesia - 0.4%                                     
|PT Bank Central Asia Tbk                             
|PT Bank Rakyat Indonesia Tbk                         
|TOTAL INDONESIA                                      
|Common Stocks - continued                            
|                                                     
|Ireland - 2.2%                                       
|Actavis PLC (a)                                      
|Bank of Ireland (a)                                  
|Glanbia PLC                                          
|James Hardie Industries PLC CDI                      
|Kerry Group PLC Class A                              
|TOTAL IRELAND                                        
|Isle of Man - 0.3%                                   
|Optimal Payments PLC (a)                             
|Optimal Payments PLC rights 5/1/15 (a)               
|Playtech Ltd.                                        
|TOTAL ISLE OF MAN                                    
|Israel - 0.8%                                        
|Frutarom Industries Ltd.                             
|Teva Pharmaceutical Industries Ltd. sponsored ADR    
|TOTAL ISRAEL                                         
|Italy - 2.5%                                         
|De Longhi SpA                                        
|Intesa Sanpaolo SpA                                  
|Mediaset SpA                                         
|Telecom Italia SpA (a)                               
|World Duty Free SpA (a)                              
|TOTAL ITALY                                          
|Japan - 15.3%                                        
|ACOM Co. Ltd. (a)                                    
|Aozora Bank Ltd.                                     
|Astellas Pharma, Inc.                                
|Coca-Cola Central Japan Co. Ltd.                     
|Dentsu, Inc.                                         
|Don Quijote Holdings Co. Ltd.                        
|Hitachi Ltd.                                         
|Hoya Corp.                                           
|Japan Exchange Group, Inc.                           
|Japan Tobacco, Inc.                                  
|KDDI Corp.                                           
|Keyence Corp.                                        
|Misumi Group, Inc.                                   
|Mitsubishi UFJ Financial Group, Inc.                 
|Monex Group, Inc.                                    
|NEC Corp.                                            
|Common Stocks - continued                            
|                                                     
|Japan - continued                                    
|Nidec Corp.                                          
|Olympus Corp. (a)                                    
|OMRON Corp.                                          
|ORIX Corp.                                           
|Rakuten, Inc.                                        
|Sanken Electric Co. Ltd.                             
|Seven Bank Ltd.                                      
|SoftBank Corp.                                       
|Sony Corp.                                           
|Sundrug Co. Ltd.                                     
|Toshiba Plant Systems & Services Corp.               
|Tsuruha Holdings, Inc.                               
|United Arrows Ltd.                                   
|VT Holdings Co. Ltd.                                 
|TOTAL JAPAN                                          
|Korea (South) - 0.3%                                 
|Samsung Electronics Co. Ltd.                         
|Luxembourg - 1.0%                                    
|Altice SA (a)                                        
|Eurofins Scientific SA                               
|Grand City Properties SA (a)                         
|TOTAL LUXEMBOURG                                     
|Marshall Islands - 0.1%                              
|Hoegh LNG Partners LP (f)                            
|Netherlands - 4.6%                                   
|AerCap Holdings NV (a)                               
|Arcadis NV                                           
|ASML Holding NV (Netherlands)                        
|IMCD Group BV                                        
|ING Groep NV (Certificaten Van Aandelen)             
|Mobileye NV (a)(e)                                   
|Unilever NV (Certificaten Van Aandelen) (Bearer)     
|TOTAL NETHERLANDS                                    
|New Zealand - 0.7%                                   
|EBOS Group Ltd.                                      
|Ryman Healthcare Group Ltd.                          
|TOTAL NEW ZEALAND                                    
|Common Stocks - continued                            
|                                                     
|Philippines - 0.7%                                   
|Alliance Global Group, Inc.                          
|SM Investments Corp.                                 
|TOTAL PHILIPPINES                                    
|South Africa - 1.0%                                  
|EOH Holdings Ltd.                                    
|Naspers Ltd. Class N                                 
|TOTAL SOUTH AFRICA                                   
|Spain - 1.9%                                         
|Amadeus IT Holding SA Class A                        
|Atresmedia Corporacion de Medios de Comunicacion SA  
|Hispania Activos Inmobiliarios SA (a)                
|Inditex SA                                           
|Mediaset Espana Comunicacion, S.A.                   
|TOTAL SPAIN                                          
|Sweden - 2.1%                                        
|ASSA ABLOY AB (B Shares)                             
|HEXPOL AB (B Shares)                                 
|Nordea Bank AB                                       
|Svenska Handelsbanken AB (A Shares)                  
|TOTAL SWEDEN                                         
|Switzerland - 5.5%                                   
|Clariant AG (Reg.)                                   
|GAM Holding Ltd.                                     
|Julius Baer Group Ltd.                               
|Lonza Group AG                                       
|Novartis AG                                          
|Partners Group Holding AG                            
|Schindler Holding AG (participation certificate)     
|Sonova Holding AG Class B                            
|UBS Group AG                                         
|TOTAL SWITZERLAND                                    
|Taiwan - 0.8%                                        
|ECLAT Textile Co. Ltd.                               
|JHL Biotech, Inc. (j)                                
|Merida Industry Co. Ltd.                             
|Taiwan Semiconductor Manufacturing Co. Ltd.          
|TOTAL TAIWAN                                         
|Common Stocks - continued                            
|                                                     
|Turkey - 0.1%                                        
|Logo Yazilim Sanayi Ve Ticar                         
|United Kingdom - 18.0%                               
|AA PLC                                               
|Aberdeen Asset Management PLC                        
|Al Noor Hospitals Group PLC                          
|Associated British Foods PLC                         
|Aviva PLC                                            
|B&M European Value Retail S.A.                       
|BG Group PLC                                         
|British American Tobacco PLC (United Kingdom)        
|BT Group PLC                                         
|BTG PLC (a)                                          
|Bunzl PLC                                            
|Diploma PLC                                          
|Essentra PLC                                         
|Hikma Pharmaceuticals PLC                            
|Howden Joinery Group PLC                             
|HSBC Holdings PLC (United Kingdom)                   
|Imperial Tobacco Group PLC                           
|ITE Group PLC                                        
|ITV PLC                                              
|Johnson Matthey PLC                                  
|Liberty Global PLC Class A (a)                       
|Lloyds Banking Group PLC                             
|London Stock Exchange Group PLC                      
|Meggitt PLC                                          
|Melrose PLC                                          
|Next PLC                                             
|Persimmon PLC                                        
|Poundland Group PLC                                  
|Reckitt Benckiser Group PLC                          
|Rex Bionics PLC (a)(f)                               
|Rio Tinto PLC                                        
|Royal Dutch Shell PLC Class A (United Kingdom)       
|SABMiller PLC                                        
|Schroders PLC                                        
|Shawbrook Group Ltd.                                 
|Spirax-Sarco Engineering PLC                         
|St. James's Place Capital PLC                        
|Taylor Wimpey PLC                                    
|The Restaurant Group PLC                             
|Virgin Money Holdings Uk PLC (a)                     
|Common Stocks - continued                            
|                                                     
|United Kingdom - continued                           
|Vodafone Group PLC                                   
|Whitbread PLC                                        
|Workspace Group PLC                                  
|TOTAL UNITED KINGDOM                                 
|United States of America - 2.7%                      
|Chevron Corp.                                        
|Constellation Brands, Inc. Class A (sub. vtg.) (a)   
|McGraw Hill Financial, Inc.                          
|Monster Beverage Corp. (a)                           
|Visa, Inc. Class A                                   
|TOTAL UNITED STATES OF AMERICA                       
|TOTAL COMMON STOCKS
(Cost $9,169,054)                
|Preferred Stocks - 1.3%                              
|                                                     
|Convertible Preferred Stocks - 0.2%                  
|Cayman Islands - 0.2%                                
|Meituan Corp. Series D (j)                           
|Nonconvertible Preferred Stocks - 1.1%               
|Germany - 1.1%                                       
|Henkel AG & Co. KGaA                                 
|Volkswagen AG (e)                                    
|TOTAL GERMANY                                        
|TOTAL PREFERRED STOCKS
(Cost $123,294)               

|Government Obligations - 0.1%                                                                    
|-------------------------------------------------------------------------------------------------
|                                                                                                 
|United States of America - 0.1%                                                                  
|U.S. Treasury Bills, yield at date of purchase 0.01% to 0.02% 5/7/15 to 5/14/15 (i)
(Cost $7,710)
|Preferred Securities - 0.1%                                                                      
|                                                                                                 
|Ireland - 0.1%                                                                                   
|Baggot Securities Ltd. 10.24% (g)(h)
(Cost $13,883)                                              

|Money Market Funds - 3.5%                                  
|-----------------------------------------------------------
|                                                           
|Fidelity Cash Central Fund, 0.15% (b)                      
|Fidelity Securities Lending Cash Central Fund, 0.17% (b)(c)
|TOTAL MONEY MARKET FUNDS
(Cost $402,598)                   
|TOTAL INVESTMENT PORTFOLIO - 101.1%
(Cost $9,716,539)      
|NET OTHER ASSETS (LIABILITIES) - (1.1)%                    
|NET ASSETS - 100%                                          

|Futures Contracts                                   
|----------------------------------------------------
|                                                    
|Purchased                                           
|Equity Index Contracts                              
|2,033 CME Nikkei 225 Index Contracts (United States)

|The face value of futures purchased as a percentage of net assets is 1.7%                                                   
|----------------------------------------------------------------------------------------------------------------------------
|For the period, the average monthly underlying face amount at value for futures contracts in the aggregate was $256,259,000.

|Currency Abbreviations
|----------------------
|EUR                   

|Legend                                                                                                                                                                                                                                                                                                                                                                                                                                           
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|(a)	Non-income producing                                                                                                                                                                                                                                                                                                                                                                                                                         
|(b)	Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.
|(c)	Investment made with cash collateral received from securities on loan.                                                                                                                                                                                                                                                                                                                                                                       
|(d)	Amount is stated in United States dollars unless otherwise noted.                                                                                                                                                                                                                                                                                                                                                                            
|(e)	Security or a portion of the security is on loan at period end.                                                                                                                                                                                                                                                                                                                                                                              
|(f)	Affiliated company                                                                                                                                                                                                                                                                                                                                                                                                                           
|(g)	Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $13,136,000 or 0.1% of net assets.                                                                                                                                 
|(h)	Security is perpetual in nature with no stated maturity date.                                                                                                                                                                                                                                                                                                                                                                                
|(i)	Security or a portion of the security was pledged to cover margin requirements for futures contracts. At period end, the value of securities pledged amounted to $7,496,000.                                                                                                                                                                                                                                                                 
|(j)	Restricted securities - Investment in securities not registered under the Securities Act of 1933 (excluding 144A issues). At the end of the period, the value of restricted securities (excluding 144A issues) amounted to $31,387,000 or 0.3% of net assets.                                                                                                                                                                                
|Additional information on each restricted holding is as follows:                                                                                                                                                                                                                                                                                                                                                                                 

|Security               | Acquisition Date | Acquisition Cost (000s)
|---------------------- | ---------------- | -----------------------
|JHL Biotech, Inc.      | 4/14/15          | $	9,342                
|Meituan Corp. Series D | 1/26/15          | $	18,833               

|Affiliated Central Funds                                                                                                     
|-----------------------------------------------------------------------------------------------------------------------------
|Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:

|Fund                                          | Income earned
(Amounts in thousands)
|--------------------------------------------- | ------------------------------------
|Fidelity Cash Central Fund                    | $	343                               
|Fidelity Securities Lending Cash Central Fund | 1,811                               
|Total                                         | $	2,154                             

|Other Affiliated Issuers                                                                                                                                                                                
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|An affiliated company is a company in which the Fund has ownership of at least 5% of the voting securities. Fiscal year to date transactions with companies which are or were affiliates are as follows:

|Affiliate
(Amounts in thousands) | Value, beginning of period | Purchases | Sales
Proceeds* | Dividend
Income | Value,
end of
period
|-------------------------------- | -------------------------- | --------- | --------------- | --------------- | --------------------
|Hoegh LNG Partners LP            | $	12,426                   | $	2,837   | $	130           | $	271           | $	15,679            
|MySale Group PLC                 | 26,053                     | -         | 61              | -               | 7,138               
|PAX Global Technology Ltd.       | 71,203                     | 795       | 600             | -               | 97,048              
|Rex Bionics PLC                  | 3,518                      | -         | 12              | -               | 1,263               
|Total                            | $	113,200                  | $	3,632   | $	803           | $	271           | $	121,128           

* Includes the value of securities delivered through in-kind transactions.

|Other Information                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|Categorizations in the Schedule of Investments are based on country or territory of incorporation.                                                                                                                                                                                                                                                                                                                                                                                             
|The following is a summary of the inputs used, as of April 30, 2015, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the tables below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

|Valuation Inputs at Reporting Date:
|-----------------------------------
|Description
(Amounts in thousands) 
|Investments in Securities:         
|Equities:                          
|Consumer Discretionary             
|Consumer Staples                   
|Energy                             
|Financials                         
|Health Care                        
|Industrials                        
|Information Technology             
|Materials                          
|Telecommunication Services         
|Government Obligations             
|Valuation Inputs at Reporting Date:
|Description
(Amounts in thousands) 
|Investments in Securities:         
|Equities:                          
|Preferred Securities               
|Money Market Funds                 
|Total Investments in Securities:   
|Derivative Instruments:            
|Assets                             
|Futures Contracts                  

|The following is a summary of transfers between Level 1 and Level 2 for the period endedApril 30, 2015. Transfers are assumed to have occurred at the beginning of the period, and are primarily attributable to the valuation techniques used for foreign equity securities, as discussed in the accompanying Notes to Financial Statements:
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|Transfers          | Total (000s)
|------------------ | ------------
|Level 1 to Level 2 | $	3,100,351 
|Level 2 to Level 1 | $	1,239,771 

|Value of Derivative Instruments                                                                                                                                                                                                                                                          
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|The following table is a summary of the Fund's value of derivative instruments by primary risk exposure as of April 30, 2015. For additional information on derivative instruments, please refer to the Derivative Instruments section in the accompanying Notes to Financial Statements.

|Primary Risk Exposure /Derivative Type | Value (000s)
|-------------------------------------- | ------------
|                                       | Asset       
|Equity Risk                            |             
|Futures Contracts (a)                  | $	5,906     
|Total Value of Derivatives             | $	5,906     

|(a) Reflects gross cumulative appreciation (depreciation) on futures contracts as presented in the Schedule of Investments. Only the period end receivable or payable for daily variation margin and net unrealized appreciation (depreciation) are presented in the Statement of Assets and Liabilities.
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

---

# Financial Statements

## Statement of Assets and Liabilities

|Amounts in thousands (except per-share amounts)                                                                                                  | April 30, 2015 (Unaudited)
|------------------------------------------------------------------------------------------------------------------------------------------------ | --------------------------
|                                                                                                                                                 |                           
|Assets                                                                                                                                           |                           
|Investment in securities, at value (including securities loaned of $169,755) - See accompanying schedule:
Unaffiliated issuers (cost $9,224,668) | $	10,974,157              
|Fidelity Central Funds (cost $402,598)                                                                                                           | 402,598                   
|Other affiliated issuers (cost $89,273)                                                                                                          | 121,128                   
|Total Investments (cost $9,716,539)                                                                                                              |                           
|Foreign currency held at value (cost $4,728)                                                                                                     |                           
|Receivable for investments sold                                                                                                                  |                           
|Receivable for fund shares sold                                                                                                                  |                           
|Dividends receivable                                                                                                                             |                           
|Distributions receivable from Fidelity Central Funds                                                                                             |                           
|Prepaid expenses                                                                                                                                 |                           
|Other receivables                                                                                                                                |                           
|Total assets                                                                                                                                     |                           
|                                                                                                                                                 |                           
|Liabilities                                                                                                                                      |                           
|Payable for investments purchased                                                                                                                | $	67,420                  
|Payable for fund shares redeemed                                                                                                                 | 15,030                    
|Accrued management fee                                                                                                                           | 6,812                     
|Distribution and service plan fees payable                                                                                                       | 117                       
|Payable for daily variation margin for derivative instruments                                                                                    | 4,015                     
|Other affiliated payables                                                                                                                        | 1,583                     
|Other payables and accrued expenses                                                                                                              | 5,620                     
|Collateral on securities loaned, at value                                                                                                        | 178,390                   
|Total liabilities                                                                                                                                |                           
|                                                                                                                                                 |                           
|Net Assets                                                                                                                                       |                           
|Net Assets consist of:                                                                                                                           |                           
|Paid in capital                                                                                                                                  |                           
|Undistributed net investment income                                                                                                              |                           
|Accumulated undistributed net realized gain (loss) on investments and foreign currency transactions                                              |                           
|Net unrealized appreciation (depreciation) on investments and assets and liabilities in foreign currencies                                       |                           
|Net Assets                                                                                                                                       |                           

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Statement of Assets and Liabilities - continued

|Amounts in thousands (except per-share amounts)                                                                               | April 30, 2015 (Unaudited)
|----------------------------------------------------------------------------------------------------------------------------- | --------------------------
|                                                                                                                              |                           
|Calculation of Maximum Offering Price
Class A:
Net Asset Valueand redemption price per share ($304,057.33 ÷ 7,381.512 shares) |                           
|                                                                                                                              |                           
|Maximum offering price per share (100/94.25 of $41.19)                                                                        |                           
|Class T:
Net Asset Value and redemption price per share ($46,880.10 ÷ 1,144.698 shares)                                       |                           
|                                                                                                                              |                           
|Maximum offering price per share (100/96.50 of $40.95)                                                                        |                           
|Class B:
Net Asset Value and offering price per share ($3,368.75 ÷ 82.673 shares)A                                            |                           
|                                                                                                                              |                           
|Class C:
Net Asset Value and offering price per share ($36,977.48 ÷ 909.094 shares)A                                          |                           
|                                                                                                                              |                           
|International Discovery:
Net Asset Value, offering price and redemption price per share ($7,509,970.46 ÷ 181,122.244 shares)  |                           
|                                                                                                                              |                           
|Class K:
Net Asset Value, offering price and redemption price per share ($2,535,160.10 ÷ 61,270.682 shares)                   |                           
|                                                                                                                              |                           
|Institutional Class:
Net Asset Value, offering price and redemption price per share ($899,960.61 ÷ 21,750.815 shares)         |                           
|                                                                                                                              |                           
|Class Z:
Net Asset Value, offering price and redemption price per share ($39,986.32 ÷ 966.930 shares)                         |                           

ARedemption price per share is equal to net asset value less any applicable contingent deferred sales charge.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

Financial Statements - continued

## Statement of Operations

|Amounts in thousands 	Six months ended April 30, 2015 (Unaudited)                                                                   
|------------------------------------------------------------------------------------------------------------------------------------
|                                                                                                                                    
|Investment Income                                                                                                                   
|Dividends (including $271 earned from other affiliated issuers)                                                                     
|Interest                                                                                                                            
|Income from Fidelity Central Funds                                                                                                  
|Income before foreign taxes withheld                                                                                                
|Less foreign taxes withheld                                                                                                         
|Total income                                                                                                                        
|                                                                                                                                    
|Expenses                                                                                                                            
|Management fee
Basic fee                                                                                                            
|Performance adjustment                                                                                                              
|Transfer agent fees                                                                                                                 
|Distribution and service plan fees                                                                                                  
|Accounting and security lending fees                                                                                                
|Custodian fees and expenses                                                                                                         
|Independent trustees' compensation                                                                                                  
|Registration fees                                                                                                                   
|Audit                                                                                                                               
|Legal                                                                                                                               
|Miscellaneous                                                                                                                       
|Total expenses before reductions                                                                                                    
|Expense reductions                                                                                                                  
|Net investment income (loss)                                                                                                        
|Realized and Unrealized Gain (Loss)
Net realized gain (loss) on:                                                                    
|Investment securities:                                                                                                              
|Unaffiliated issuers                                                                                                                
|Other affiliated issuers                                                                                                            
|Foreign currency transactions                                                                                                       
|Futures contracts                                                                                                                   
|Total net realized gain (loss)                                                                                                      
|Change in net unrealized appreciation (depreciation) on:
Investment securities (net of decrease in deferred foreign taxes of $2,662)
|Assets and liabilities in foreign currencies                                                                                        
|Futures contracts                                                                                                                   
|Total change in net unrealized appreciation (depreciation)                                                                          
|Net gain (loss)                                                                                                                     
|Netincrease (decrease) in net assets resulting from operations                                                                      

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Statement of Changes in Net Assets

|Amounts in thousands                                                                                                                      | Six months ended April 30, 2015 (Unaudited) | Year ended
October 31,
2014
|----------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------------------- | ---------------------------
|Increase (Decrease) in Net Assets                                                                                                         |                                             |                            
|Operations                                                                                                                                |                                             |                            
|Net investment income (loss)                                                                                                              | $	49,711                                    | $	199,098                  
|Net realized gain (loss)                                                                                                                  | 236,783                                     | 758,004                    
|Change in net unrealized appreciation (depreciation)                                                                                      | 464,328                                     | (958,756)                  
|Netincrease (decrease) in net assets resulting from operations                                                                            | 750,822                                     | (1,654)                    
|Distributions to shareholders from net investment income                                                                                  | (74,589)                                    | (136,326)                  
|Distributions to shareholders from net realized gain                                                                                      | -                                           | (88,586)                   
|Total distributions                                                                                                                       | (74,589)                                    | (224,912)                  
|Share transactions - net increase (decrease)                                                                                              | (298,467)                                   | (69,908)                   
|Redemption fees                                                                                                                           | 44                                          | 139                        
|Total increase (decrease) in net assets                                                                                                   | 377,810                                     | (296,335)                  
|                                                                                                                                          |                                             |                            
|Net Assets                                                                                                                                |                                             |                            
|Beginning of period                                                                                                                       | 10,998,551                                  | 11,294,886                 
|End of period (including undistributed net investment income of $43,731 and undistributed net investment income of $68,609, respectively) | $	11,376,361                                | $	10,998,551               

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - Class A

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | Six months ended April 30, 2015 | Years ended October 31,
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------- | -----------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | (Unaudited)                     | 2014                   
|Selected Per-Share Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |                                 |                        
|Net asset value, beginning of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | $	38.70                         | $	39.49                
|Income from Investment Operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                                 |                        
|Net investment income (loss)E                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | .11                             | .53H                   
|Net realized and unrealized gain (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | 2.49                            | (.67)                  
|Total from investment operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | 2.60                            | (.14)                  
|Distributions from net investment income                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | (.11)                           | (.33)                  
|Distributions from net realized gain                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | -                               | (.31)                  
|Total distributions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | (.11)                           | (.65)L                 
|Redemption fees added to paid in capital E, J                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | -                               | -                      
|Net asset value, end of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | $	41.19                         | $	38.70                
|Total ReturnB, C, D                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | 6.74%                           | (.36)%                 
|Ratios to Average Net AssetsF, I                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |                                 |                        
|Expenses before reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | 1.33%A                          | 1.28%                  
|Expenses net of fee waivers, if any                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | 1.33%A                          | 1.28%                  
|Expenses net of all reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | 1.33%A                          | 1.28%                  
|Net investment income (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | .54%A                           | 1.35%H                 
|Supplemental Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                                 |                        
|Net assets, end of period (in millions)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | $	304                           | $	297                  
|Portfolio turnover rateG                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | 73%A,K                          | 57%                    
|AAnnualizedBTotal returns for periods of less than one year are not annualized.CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.DTotal returns do not include the effect of the sales charges.ECalculated based on average shares outstanding during the period.FFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.GAmount does not include the portfolio activity of any underlying Fidelity Central Funds.HInvestment income per share reflects a large, non-recurring dividend which amounted to $.22 per share. Excluding this non-recurring dividend, the ratio of net investment income (loss) to average net assets would have been .80%.IExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.JAmount represents less than $.01 per share.KPortfolio turnover rate excludes securities received or delivered in-kind.LTotal distributions of $.65 per share is comprised of distributions from net investment income of $.334 and distributions from net realized gain of $.311 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - Class T

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | Six months ended April 30, 2015 | Years ended October 31,
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------- | -----------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | (Unaudited)                     | 2014                   
|Selected Per-Share Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                                 |                        
|Net asset value, beginning of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | $	38.43                         | $	39.23                
|Income from Investment Operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |                                 |                        
|Net investment income (loss)E                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | .06                             | .44H                   
|Net realized and unrealized gain (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | 2.48                            | (.68)                  
|Total from investment operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | 2.54                            | (.24)                  
|Distributions from net investment income                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | (.02)                           | (.25)                  
|Distributions from net realized gain                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | -                               | (.31)                  
|Total distributions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | (.02)                           | (.56)                  
|Redemption fees added to paid in capital E, J                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | -                               | -                      
|Net asset value, end of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | $	40.95                         | $	38.43                
|Total ReturnB, C, D                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | 6.61%                           | (.60)%                 
|Ratios to Average Net AssetsF, I                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |                                 |                        
|Expenses before reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | 1.57%A                          | 1.51%                  
|Expenses net of fee waivers, if any                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | 1.57%A                          | 1.51%                  
|Expenses net of all reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | 1.57%A                          | 1.51%                  
|Net investment income (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | .30%A                           | 1.11%H                 
|Supplemental Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |                                 |                        
|Net assets, end of period (in millions)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $	47                            | $	49                   
|Portfolio turnover rateG                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | 73%A,K                          | 57%                    
|AAnnualizedBTotal returns for periods of less than one year are not annualized.CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.DTotal returns do not include the effect of the sales charges.ECalculated based on average shares outstanding during the period.FFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.GAmount does not include the portfolio activity of any underlying Fidelity Central Funds.HInvestment income per share reflects a large, non-recurring dividend which amounted to $.21 per share. Excluding this non-recurring dividend, the ratio of net investment income (loss) to average net assets would have been .56%.IExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.JAmount represents less than $.01 per share.KPortfolio turnover rate excludes securities received or delivered in-kind.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - Class B

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | Six months ended April 30, 2015 | Years ended October 31,
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------- | -----------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | (Unaudited)                     | 2014                   
|Selected Per-Share Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                                 |                        
|Net asset value, beginning of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | $	38.32                         | $	39.08                
|Income from Investment Operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                                 |                        
|Net investment income (loss)E                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | (.05)                           | .22H                   
|Net realized and unrealized gain (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | 2.48                            | (.66)                  
|Total from investment operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | 2.43                            | (.44)                  
|Distributions from net investment income                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | -                               | (.01)                  
|Distributions from net realized gain                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | -                               | (.31)                  
|Total distributions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | -                               | (.32)                  
|Redemption fees added to paid in capital E, J                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | -                               | -                      
|Net asset value, end of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | $	40.75                         | $	38.32                
|Total ReturnB, C, D                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | 6.34%                           | (1.12)%                
|Ratios to Average Net AssetsF, I                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |                                 |                        
|Expenses before reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | 2.11%A                          | 2.06%                  
|Expenses net of fee waivers, if any                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | 2.11%A                          | 2.06%                  
|Expenses net of all reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | 2.11%A                          | 2.05%                  
|Net investment income (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | (.24)%A                         | .57%H                  
|Supplemental Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                                 |                        
|Net assets, end of period (in millions)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | $	3                             | $	5                    
|Portfolio turnover rateG                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | 73%A,K                          | 57%                    
|AAnnualizedBTotal returns for periods of less than one year are not annualized.CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.DTotal returns do not include the effect of the contingent deferred sales charge.ECalculated based on average shares outstanding during the period.FFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.GAmount does not include the portfolio activity of any underlying Fidelity Central Funds.HInvestment income per share reflects a large, non-recurring dividend which amounted to $.21 per share. Excluding this non-recurring dividend, the ratio of net investment income (loss) to average net assets would have been .02%.IExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.JAmount represents less than $.01 per share.KPortfolio turnover rate excludes securities received or delivered in-kind.LTotal distributions of $.27 per share is comprised of distributions from net investment income of $.115 and distributions from net realized gain of $.155 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - Class C

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | Six months ended April 30, 2015 | Years ended October 31,
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------- | -----------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | (Unaudited)                     | 2014                   
|Selected Per-Share Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                                 |                        
|Net asset value, beginning of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | $	38.25                         | $	39.07                
|Income from Investment Operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                                 |                        
|Net investment income (loss)E                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | (.04)                           | .23H                   
|Net realized and unrealized gain (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | 2.47                            | (.66)                  
|Total from investment operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | 2.43                            | (.43)                  
|Distributions from net investment income                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | -                               | (.08)                  
|Distributions from net realized gain                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | -                               | (.31)                  
|Total distributions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | -                               | (.39)                  
|Redemption fees added to paid in capital E, J                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | -                               | -                      
|Net asset value, end of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | $	40.68                         | $	38.25                
|Total ReturnB, C, D                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | 6.35%                           | (1.10)%                
|Ratios to Average Net AssetsF, I                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |                                 |                        
|Expenses before reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | 2.08%A                          | 2.03%                  
|Expenses net of fee waivers, if any                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | 2.08%A                          | 2.03%                  
|Expenses net of all reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | 2.08%A                          | 2.02%                  
|Net investment income (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | (.21)%A                         | .60%H                  
|Supplemental Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                                 |                        
|Net assets, end of period (in millions)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | $	37                            | $	35                   
|Portfolio turnover rateG                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | 73%A,K                          | 57%                    
|AAnnualizedBTotal returns for periods of less than one year are not annualized.CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.DTotal returns do not include the effect of the contingent deferred sales charge.ECalculated based on average shares outstanding during the period.FFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.GAmount does not include the portfolio activity of any underlying Fidelity Central Funds.HInvestment income per share reflects a large, non-recurring dividend which amounted to $.21 per share. Excluding this non-recurring dividend, the ratio of net investment income (loss) to average net assets would have been .05%.IExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.JAmount represents less than $.01 per share.KPortfolio turnover rate excludes securities received or delivered in-kind.LTotal distributions of $.29 per share is comprised of distributions from net investment income of $.137 and distributions from net realized gain of $.155 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - International Discovery

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | Six months ended April 30, 2015 | Years ended October 31,
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------- | -----------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | (Unaudited)                     | 2014                   
|Selected Per-Share Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |                                 |                        
|Net asset value, beginning of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | $	39.03                         | $	39.82                
|Income from Investment Operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |                                 |                        
|Net investment income (loss)D                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | .17                             | .67G                   
|Net realized and unrealized gain (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | 2.52                            | (.68)                  
|Total from investment operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | 2.69                            | (.01)                  
|Distributions from net investment income                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | (.26)                           | (.47)                  
|Distributions from net realized gain                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | -                               | (.31)                  
|Total distributions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | (.26)                           | (.78)                  
|Redemption fees added to paid in capital D, I                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | -                               | -                      
|Net asset value, end of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | $	41.46                         | $	39.03                
|Total ReturnB, C                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | 6.92%                           | (.01)%                 
|Ratios to Average Net AssetsE, H                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |                                 |                        
|Expenses before reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | .99%A                           | .93%                   
|Expenses net of fee waivers, if any                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | .99%A                           | .93%                   
|Expenses net of all reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | .98%A                           | .93%                   
|Net investment income (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | .88%A                           | 1.69%G                 
|Supplemental Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |                                 |                        
|Net assets, end of period (in millions)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | $	7,510                         | $	7,464                
|Portfolio turnover rateF                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | 73%A,J                          | 57%                    
|AAnnualizedBTotal returns for periods of less than one year are not annualized.CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.DCalculated based on average shares outstanding during the period.EFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.FAmount does not include the portfolio activity of any underlying Fidelity Central Funds.GInvestment income per share reflects a large, non-recurring dividend which amounted to $.22 per share. Excluding this non-recurring dividend, the ratio of net investment income (loss) to average net assets would have been 1.15%.HExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.IAmount represents less than $.01 per share.JPortfolio turnover rate excludes securities received or delivered in-kind.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - Class K

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | Six months ended April 30, 2015 | Years ended October 31,
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ------------------------------- | -----------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | (Unaudited)                     | 2014                   
|Selected Per-Share Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                                 |                        
|Net asset value, beginning of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | $	38.97                         | $	39.76                
|Income from Investment Operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                                 |                        
|Net investment income (loss)D                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | .20                             | .72G                   
|Net realized and unrealized gain (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | 2.52                            | (.67)                  
|Total from investment operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | 2.72                            | .05                    
|Distributions from net investment income                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | (.31)                           | (.53)                  
|Distributions from net realized gain                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | -                               | (.31)                  
|Total distributions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | (.31)                           | (.84)                  
|Redemption fees added to paid in capital D, I                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | -                               | -                      
|Net asset value, end of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | $	41.38                         | $	38.97                
|Total ReturnB, C                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | 7.03%                           | .13%                   
|Ratios to Average Net AssetsE, H                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |                                 |                        
|Expenses before reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | .86%A                           | .80%                   
|Expenses net of fee waivers, if any                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | .86%A                           | .80%                   
|Expenses net of all reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | .85%A                           | .79%                   
|Net investment income (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | 1.01%A                          | 1.83%G                 
|Supplemental Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                                 |                        
|Net assets, end of period (in millions)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | $	2,535                         | $	2,464                
|Portfolio turnover rateF                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | 73%A,J                          | 57%                    
|AAnnualizedBTotal returns for periods of less than one year are not annualized.CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.DCalculated based on average shares outstanding during the period.EFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.FAmount does not include the portfolio activity of any underlying Fidelity Central Funds.GInvestment income per share reflects a large, non-recurring dividend which amounted to $.22 per share. Excluding this non-recurring dividend, the ratio of net investment income (loss) to average net assets would have been 1.28%.HExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.IAmount represents less than $.01 per share.JPortfolio turnover rate excludes securities received or delivered in-kind.KTotal distributions of $.70 per share is comprised of distributions from net investment income of $.548 and distributions from net realized gain of $.155 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - Institutional Class

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | Six months ended April 30, 2015 | Years ended October 31,
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ------------------------------- | -----------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | (Unaudited)                     | 2014                   
|Selected Per-Share Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                                 |                        
|Net asset value, beginning of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | $	38.96                         | $	39.76                
|Income from Investment Operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                                 |                        
|Net investment income (loss)D                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | .17                             | .67G                   
|Net realized and unrealized gain (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | 2.51                            | (.68)                  
|Total from investment operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | 2.68                            | (.01)                  
|Distributions from net investment income                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | (.26)                           | (.48)                  
|Distributions from net realized gain                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | -                               | (.31)                  
|Total distributions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | (.26)                           | (.79)                  
|Redemption fees added to paid in capital D, I                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | -                               | -                      
|Net asset value, end of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | $	41.38                         | $	38.96                
|Total ReturnB, C                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | 6.93%                           | (.01)%                 
|Ratios to Average Net AssetsE, H                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |                                 |                        
|Expenses before reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | 1.00%A                          | .93%                   
|Expenses net of fee waivers, if any                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | 1.00%A                          | .93%                   
|Expenses net of all reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | .99%A                           | .93%                   
|Net investment income (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | .87%A                           | 1.69%G                 
|Supplemental Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                                 |                        
|Net assets, end of period (in millions)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | $	900                           | $	650                  
|Portfolio turnover rateF                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | 73%A,J                          | 57%                    
|AAnnualizedBTotal returns for periods of less than one year are not annualized.CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.DCalculated based on average shares outstanding during the period.EFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.FAmount does not include the portfolio activity of any underlying Fidelity Central Funds.GInvestment income per share reflects a large, non-recurring dividend which amounted to $.22 per share. Excluding this non-recurring dividend, the ratio of net investment income (loss) to average net assets would have been 1.14%.HExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.IAmount represents less than $.01 per share.JPortfolio turnover rate excludes securities received or delivered in-kind.KTotal distributions of $.65 per share is comprised of distributions from net investment income of $.497 and distributions from net realized gain of $.155 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - Class Z

|                                              | Six months ended April 30, 2015 | Years ended October 31,
|--------------------------------------------- | ------------------------------- | -----------------------
|                                              | (Unaudited)                     | 2014                   
|Selected Per-Share Data                       |                                 |                        
|Net asset value, beginning of period          | $	38.96                         | $	39.77                
|Income from Investment Operations             |                                 |                        
|Net investment income (loss)D                 | .20                             | .72G                   
|Net realized and unrealized gain (loss)       | 2.51                            | (.68)                  
|Total from investment operations              | 2.71                            | .04                    
|Distributions from net investment income      | (.32)                           | (.54)                  
|Distributions from net realized gain          | -                               | (.31)                  
|Total distributions                           | (.32)                           | (.85)                  
|Redemption fees added to paid in capital D, J | -                               | -                      
|Net asset value, end of period                | $	41.35                         | $	38.96                
|Total ReturnB, C                              | 7.00%                           | .12%                   
|Ratios to Average Net AssetsE, I              |                                 |                        
|Expenses before reductions                    | .86%A                           | .80%                   
|Expenses net of fee waivers, if any           | .86%A                           | .80%                   
|Expenses net of all reductions                | .85%A                           | .79%                   
|Net investment income (loss)                  | 1.01%A                          | 1.83%G                 
|Supplemental Data                             |                                 |                        
|Net assets, end of period (000 omitted)       | $	39,986                        | $	35,125               
|Portfolio turnover rate F                     | 73%A, K                         | 57%                    

|AAnnualizedBTotal returns for periods of less than one year are not annualized.CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.DCalculated based on average shares outstanding during the period.EFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.FAmount does not include the portfolio activity of any underlying Fidelity Central Funds.GInvestment income per share reflects a large, non-recurring dividend which amounted to $.21 per share. Excluding this non-recurring dividend, the ratio of net investment income (loss) to average net assets would have been 1.28%.HFor the period August 13, 2013 (commencement of sale of shares) to October 31, 2013.IExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.JAmount represents less than $.01 per share.KPortfolio turnover rate excludes securities received or delivered in-kind.
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

---

# Notes to Financial Statements

For the period ended April 30, 2015 (Unaudited)

(Amounts in thousands except percentages)

1. Organization.

Fidelity® International Discovery Fund (the Fund) is a fund of Fidelity Investment Trust (the Trust) and is authorized to issue an unlimited number of shares. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Massachusetts business trust. The Fund offers Class A, Class T, Class C, International Discovery, Class K, Institutional Class and Class Z shares, each of which, along with Class B shares, has equal rights as to assets and voting privileges. Class B shares are closed to new accounts and additional purchases, except for exchanges and reinvestments. Each class has exclusive voting rights with respect to matters that affect that class. Class B shares will automatically convert to Class A shares after a holding period of seven years from the initial date of purchase.

2. Investments in Fidelity Central Funds.

The Fund invests in Fidelity Central Funds, which are open-end investment companies generally available only to other investment companies and accounts managed by the investment adviser and its affiliates. The Fund's Schedule of Investments lists each of the Fidelity Central Funds held as of period end, if any, as an investment of the Fund, but does not include the underlying holdings of each Fidelity Central Fund. As an Investing Fund, the Fund indirectly bears its proportionate share of the expenses of the underlying Fidelity Central Funds.

The Money Market Central Funds seek preservation of capital and current income and are managed by Fidelity Investments Money Management, Inc. (FIMM), an affiliate of the investment adviser. Annualized expenses of the Money Market Central Funds as of their most recent shareholder report date are less than .01%.

A complete unaudited list of holdings for each Fidelity Central Fund is available upon request or at the Securities and Exchange Commission (the SEC) website at www.sec.gov. In addition, the financial statements of the Fidelity Central Funds are available on the SEC website or upon request.

3. Significant Accounting Policies.

The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP), which require management to make certain estimates and assumptions at the date of the financial statements. Actual results could differ from those estimates. Subsequent events, if any, through the date that the financial statements were issued have been evaluated in the preparation of

Semiannual Report

Notes to Financial Statements (Unaudited) - continued

(Amounts in thousands except percentages)

3. Significant Accounting Policies - continued

the financial statements. The following summarizes the significant accounting policies of the Fund:

Investment Valuation.Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. The Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fidelity Management & Research Company (FMR) Fair Value Committee (the Committee). In accordance with valuation policies and procedures approved by the Board, the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events, changes in interest rates and credit quality. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund's valuation policies and procedures and reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee.

The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels as shown below:

Level 1 - quoted prices in active markets for identical investments

Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, etc.)

Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available)

Valuation techniques used to value the Fund's investments by major category are as follows:

Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing vendor on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs),

Semiannual Report

3. Significant Accounting Policies - continued

Investment Valuation - continued

futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. Utilizing these techniques may result in transfers between Level 1 and Level 2. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy.

Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing vendors or from brokers who make markets in such securities. Preferred securities and U.S. government and government agency obligations are valued by pricing vendors who utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type or by broker-supplied prices. When independent prices are unavailable or unreliable, debt securities may be valued utilizing pricing methodologies which consider similar factors that would be used by third party pricing vendors. Debt securities are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances.

Futures contracts are valued at the settlement price established each day by the board of trade or exchange on which they are traded and are categorized as Level 1 in the hierarchy. Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy.

Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. The aggregate value of investments by input level, as of April 30, 2015, including information on transfers between Levels 1 and 2 is included at the end of the Fund's Schedule of Investments.

Foreign Currency.The Fund may use foreign currency contracts to facilitate transactions in foreign-denominated securities. Gains and losses from these transactions may arise from changes in the value of the foreign currency or if the counterparties do not perform under the contracts' terms.

Foreign-denominated assets, including investment securities, and liabilities are translated into U.S. dollars at the exchange rates at period end. Purchases and sales of investment securities, income and dividends received and expenses denominated in foreign currencies are translated into U.S. dollars at the exchange rate in effect on the transaction date.

Semiannual Report

Notes to Financial Statements (Unaudited) - continued

(Amounts in thousands except percentages)

3. Significant Accounting Policies - continued

Foreign Currency - continued

The effects of exchange rate fluctuations on investments are included with the net realized and unrealized gain (loss) on investment securities. Other foreign currency transactions resulting in realized and unrealized gain (loss) are disclosed separately.

Investment Transactions and Income.For financial reporting purposes, the Fund's investment holdings and NAV include trades executed through the end of the last business day of the period. The NAV per share for processing shareholder transactions is calculated as of the close of business of the New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time and includes trades executed through the end of the prior business day. Gains and losses on securities sold are determined on the basis of identified cost and may include proceeds received from litigation. Dividend income is recorded on the ex-dividend date, except for certain dividends from foreign securities where the ex-dividend date may have passed, which are recorded as soon as the Fund is informed of the ex-dividend date. Non-cash dividends included in dividend income, if any, are recorded at the fair market value of the securities received. Income and capital gain distributions from Fidelity Central Funds, if any, are recorded on the ex-dividend date. Distributions received on securities that represent a return of capital or capital gain are recorded as a reduction of cost of investments and/or as a realized gain. Subsequent to ex-dividend date the Fund determines the components of these distributions, based upon receipt of tax filings or other correspondence relating to the underlying investment. Interest income is accrued as earned and includes coupon interest and amortization of premium and accretion of discount on debt securities as applicable. Investment income is recorded net of foreign taxes withheld where recovery of such taxes is uncertain.

Class Allocations andExpenses. Investment income, realized and unrealized capital gains and losses, common expenses of the Fund, and certain fund-level expense reductions, if any, are allocated daily on a pro-rata basis to each class based on the relative net assets of each class to the total net assets of the Fund. Each class differs with respect to transfer agent and distribution and service plan fees incurred. Certain expense reductions may also differ by class. For the reporting period, the allocated portion of income and expenses to each class as a percent of its average net assets may vary due to the timing of recording these transactions in relation to fluctuating net assets of the classes. Expenses directly attributable to a fund are charged to that fund. Expenses attributable to more than one fund are allocated among the respective funds on the basis of relative net assets or other appropriate methods. Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.

Semiannual Report

3. Significant Accounting Policies - continued

DeferredTrustee Compensation. Under a Deferred Compensation Plan (the Plan), independent Trustees may elect to defer receipt of a portion of their annual compensation. Deferred amounts are invested in a cross-section of Fidelity funds, are marked-to-market and remain in the Fund until distributed in accordance with the Plan. The investment of deferred amounts and the offsetting payable to the Trustees are included in the accompanying Statement of Assets and Liabilities.

Income Tax Information and Distributions to Shareholders. Each year, the Fund intends to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code, including distributing substantially all of its taxable income and realized gains. As a result, no provision for U.S. Federal income taxes is required. The Fund files a U.S. federal tax return, in addition to state and local tax returns as required. The Fund's federal income tax returns are subject to examination by the Internal Revenue Service (IRS) for a period of three fiscal years after they are filed. State and local tax returns may be subject to examination for an additional fiscal year depending on the jurisdiction. Foreign taxes are provided for based on the Fund's understanding of the tax rules and rates that exist in the foreign markets in which it invests. The Fund is subject to a tax imposed on capital gains by certain countries in which it invests. An estimated deferred tax liability for net unrealized appreciation on the applicable securities is included in Other payables and accrued expenses on the Statement of Assets & Liabilities.

Distributions are declared and recorded on the ex-dividend date. Income dividends and capital gain distributions are declared separately for each class. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP.

Capital accounts within the financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations. Capital accounts are not adjusted for temporary book-tax differences which will reverse in a subsequent period.

Book-tax differences are primarily due to futures contracts, foreign currency transactions, passive foreign investment companies (PFIC), market discount, deferred trustees compensation, capital loss carryforwards and losses deferred due to wash sales.

The federal tax cost of investment securities and unrealized appreciation (depreciation) as of period end were as follows:

|Gross unrealized appreciation                            | $	2,018,808
|-------------------------------------------------------- | -----------
|Gross unrealized depreciation                            | (238,932)  
|Net unrealized appreciation (depreciation) on securities | $	1,779,876
|                                                         |            
|Tax cost                                                 | $	9,718,007

Semiannual Report

Notes to Financial Statements (Unaudited) - continued

(Amounts in thousands except percentages)

3. Significant Accounting Policies - continued

Income Tax Information and Distributions to Shareholders - continued

Capital loss carryforwards are only available to offset future capital gains of the Fund to the extent provided by regulations and may be limited. Under the Regulated Investment Company Modernization Act of 2010 (the Act), the Fund is permitted to carry forward capital losses incurred in taxable years beginning after December 22, 2010 for an unlimited period and such capital losses are required to be used prior to any losses that expire. The capital loss carryforward information presented below, including any applicable limitation, is estimated as of prior fiscal period end and is subject to adjustment.

|Fiscal year of expiration |            
|------------------------- | -----------
|2017                      | $	(227,245)

Short-Term Trading (Redemption) Fees. Shares held by investors in the Fund less than 30 days may have been subject to a redemption fee equal to 1.00% of the NAV of shares redeemed. All redemption fees, which reduce the proceeds of the shareholder redemption, are retained by the Fund and accounted for as an addition to paid in capital.

Restricted Securities. The Fund may invest in securities that are subject to legal or contractual restrictions on resale. These securities generally may be resold in transactions exempt from registration or to the public if the securities are registered. Disposal of these securities may involve time-consuming negotiations and expense, and prompt sale at an acceptable price may be difficult. Information regarding restricted securities is included at the end of the Fund's Schedule of Investments.

New Accounting Pronouncement.In June 2014, the Financial Accounting Standards Board issued Accounting Standard Update No. 2014-11, Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures (the Update). The Update amends the accounting for certain repurchase agreements and expands disclosure requirements for reverse repurchase agreements, securities lending and other similar transactions. The disclosure requirements are effective for annual and interim reporting periods beginning after December 15, 2014. Management is currently evaluating the impact of the Update on the Fund's financial statements and related disclosures.

4. Derivative Instruments.

Risk Exposures and the Use of Derivative Instruments. The Fund's investment objective allows the Fund to enter into various types of derivative contracts, including futures contracts. Derivatives are investments whose value is primarily derived from underlying assets, indices or reference rates and may be transacted on an exchange or over-the-counter (OTC). Derivatives may involve a future commitment to buy or sell a specified asset based on specified terms, to exchange future cash flows at periodic

Semiannual Report

4. Derivative Instruments - continued

Risk Exposures and the Use of Derivative Instruments - continued

intervals based on a notional principal amount, or for one party to make one or more payments upon the occurrence of specified events in exchange for periodic payments from the other party.

The Fund used derivatives to increase returns and to manage exposure to certain risks as defined below. The success of any strategy involving derivatives depends on analysis of numerous economic factors, and if the strategies for investment do not work as intended, the Fund may not achieve its objectives.

The Fund's use of derivatives increased or decreased its exposure to the following risk:

|Equity Risk | Equity risk relates to the fluctuations in the value of financial instruments as a result of changes in market prices (other than those arising from interest rate risk or foreign exchange risk), whether caused by factors specific to an individual investment, its issuer, or all factors affecting all instruments traded in a market or market segment.
|----------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

The Fund is also exposed to additional risks from investing in derivatives, such as liquidity risk and counterparty credit risk. Liquidity risk is the risk that the Fund will be unable to close out the derivative in the open market in a timely manner. Counterparty credit risk is the risk that the counterparty will not be able to fulfill its obligation to the Fund. Counterparty credit risk related to exchange-traded futures contracts may be mitigated by the protection provided by the exchange on which they trade.

Investing in derivatives may involve greater risks than investing in the underlying assets directly and, to varying degrees, may involve risk of loss in excess of any initial investment and collateral received and amounts recognized in the Statement of Assets and Liabilities. In addition, there may be the risk that the change in value of the derivative contract does not correspond to the change in value of the underlying instrument.

Futures Contracts.A futures contract is an agreement between two parties to buy or sell a specified underlying instrument for a fixed price at a specified future date. The Fund used futures contracts to manage its exposure to the stock market.

Upon entering into a futures contract, a fund is required to deposit either cash or securities (initial margin) with a clearing broker in an amount equal to a certain percentage of the face value of the contract. Futures contracts are marked-to-market daily and subsequent daily payments (variation margin) are made or received by a fund depending on the daily fluctuations in the value of the futures contracts and are recorded as unrealized appreciation or (depreciation). This receivable and/or payable, if any, is included in daily variation margin for derivative instruments in the Statement of Assets and Liabilities. Realized gain or (loss) is recorded upon the expiration or closing of a futures contract.

Semiannual Report

Notes to Financial Statements (Unaudited) - continued

(Amounts in thousands except percentages)

4. Derivative Instruments - continued

Futures Contracts - continued

Any open futures contracts at period end are presented in the Schedule of Investments under the caption "Futures Contracts." The underlying face amount at value reflects each contract's exposure to the underlying instrument or index at period end.

During the period the Fund recognized net realized gain (loss) of $42,556 and a change in net unrealized appreciation (depreciation) of $(18,692) related to its investment in futures contracts. These amounts are included in the Statement of Operations.

5. Purchases and Sales of Investments.

Purchases and sales of securities, other than short-term securities and in-kind transactions, aggregated $3,937,889 and $3,850,750, respectively.

Redemptions In-Kind. During the period, 2,460 shares of the Fund held by unaffiliated entities were redeemed for cash and investments, including accrued interest with a value of $92,600. The net realized gain of $15,499 on investments delivered through in-kind redemptions is included in the accompanying Statement of Operations. The amount of in-kind redemptions is included in share transactions in the accompanying Statement of Changes in Net Assets as well as Note 11: Share Transactions. The Fund recognized no gain or loss for federal income tax purposes.

6. Fees and Other Transactions with Affiliates.

Management Fee. Fidelity Management & Research Company (the investment adviser) and its affiliates provide the Fund with investment management related services for which the Fund pays a monthly management fee. The management fee is the sum of an individual fund fee rate that is based on an annual rate of .424% of the Fund's average net assets and an annualized group fee rate that averaged .25% during the period. The group fee rate is based upon the average net assets of all the mutual funds advised by the investment adviser, including any mutual funds previously advised by the investment adviser that are currently advised by Fidelity SelectCo, LLC, an affiliate of the investment adviser. The group fee rate decreases as assets under management increase and increases as assets under management decrease. In addition, the management fee is subject to a performance adjustment (up to a maximum of ± .20% of the Fund's average net assets over a 36 month performance period). The upward or downward adjustment to the management fee is based on the relative investment performance of International Discovery as compared to its benchmark index, the MSCI EAFE Index, over the same 36 month performance period. For the reporting period, the total annualized management fee rate, including the performance adjustment, was .77% of the Fund's average net assets. The performance adjustment included in the management fee rate may be higher

Semiannual Report

6. Fees and Other Transactions with Affiliates - continued

Management Fee - continued

or lower than the maximum performance adjustment rate due to the difference between the average net assets for the reporting and performance periods.

Distribution and Service Plan Fees. In accordance with Rule 12b-1 of the 1940 Act, the Fund has adopted separate Distribution and Service Plans for each class of shares. Certain classes pay Fidelity Distributors Corporation (FDC), an affiliate of the investment adviser, separate Distribution and Service Fees, each of which is based on an annual percentage of each class' average net assets. In addition, FDC may pay financial intermediaries for selling shares of the Fund and providing shareholder support services. For the period, the Distribution and Service Fee rates, total fees and amounts retained by FDC were as follows:

|        | Distribution
Fee | Service
Fee | Total Fees | Retained
by FDC
|------- | ---------------- | ----------- | ---------- | ---------------
|Class A | -%               | .25%        | $	366      | $	7            
|Class T | .25%             | .25%        | 116        | 2              
|Class B | .75%             | .25%        | 20         | 15             
|Class C | .75%             | .25%        | 175        | 20             
|        |                  |             | $	677      | $	44           

Sales Load. FDC may receive a front-end sales charge of up to 5.75% for selling Class A shares and 3.50% for selling Class T shares, some of which is paid to financial intermediaries for selling shares of the Fund. Depending on the holding period, FDC may receive contingent deferred sales charges levied on Class A, Class T, Class B, and Class C redemptions. The deferred sales charges range from 5.00% to 1.00% for Class B shares, 1.00% for Class C shares, 1.00% for certain purchases of Class A shares and .25% for certain purchases of Class T shares.

For the period, sales charge amounts retained by FDC were as follows:

|         | Retained
by FDC
|-------- | ---------------
|Class A  | $	28           
|Class T  | 4              
|Class B* | 1              
|Class C* | 2              
|         | $	35           

*When Class B and Class C shares are initially sold, FDC pays commissions from its own resources to financial intermediaries through which the sales 	are made.

Transfer Agent Fees.Fidelity Investments Institutional Operations Company, Inc., (FIIOC), an affiliate of the investment adviser, is the transfer, dividend disbursing and

Semiannual Report

Notes to Financial Statements (Unaudited) - continued

(Amounts in thousands except percentages)

6. Fees and Other Transactions with Affiliates - continued

Transfer Agent Fees - continued

shareholder servicing agent for each class of the Fund. FIIOC receives account fees and asset-based fees that vary according to the account size and type of account of the shareholders of the respective classes of the Fund, except for Class K and Class Z. FIIOC receives an asset-based fee of Class K's and Class Z's average net assets. FIIOC pays for typesetting, printing and mailing of shareholder reports, except proxy statements.

For the period, transfer agent fees for each class were as follows:

|                        | Amount  | % of
Class-Level Average
Net Assets*
|----------------------- | ------- | ------------------------------------
|Class A                 | $	395   | .27                                 
|Class T                 | 60      | .26                                 
|Class B                 | 6       | .30                                 
|Class C                 | 47      | .27                                 
|International Discovery | 6,558   | .18                                 
|Class K                 | 578     | .05                                 
|Institutional Class     | 722     | .19                                 
|Class Z                 | 8       | .05                                 
|                        | $	8,374 |                                     

*Annualized

Accounting and Security Lending Fees.Fidelity Service Company, Inc. (FSC), an affiliate of the investment adviser, maintains the Fund's accounting records. The accounting fee is based on the level of average net assets for each month. Under a separate contract, FSC administers the security lending program. The security lending fee is based on the number and duration of lending transactions.

Brokerage Commissions.The Fund placed a portion of its portfolio transactions with brokerage firms which are affiliates of the investment adviser. Brokerage commissions are included in net realized gain (loss) and change in net unrealized appreciation (depreciation) in the Statement of Operations. The commissions paid to these affiliated firms were $5 for the period.

7. Committed Line of Credit.

The Fund participates with other funds managed by the investment adviser or an affiliate in a $4.25 billion credit facility (the "line of credit") to be utilized for temporary or emergency purposes to fund shareholder redemptions or for other short-term liquidity purposes. The Fund has agreed to pay commitment fees on its pro-rata portion of the line of credit, which amounted to $9 and is reflected in Miscellaneous expenses on the

Semiannual Report

7. Committed Line of Credit - continued

Statement of Operations. During the period, the Fund did not borrow on this line of credit.

8. Security Lending.

The Fund lends portfolio securities through a lending agent from time to time in order to earn additional income. For equity securities, a lending agent is used and may loan securities to certain qualified borrowers, including Fidelity Capital Markets (FCM), a broker-dealer affiliated with the Fund. On the settlement date of the loan, the Fund receives collateral (in the form of U.S. Treasury obligations, letters of credit and/or cash) against the loaned securities and maintains collateral in an amount not less than 100% of the market value of the loaned securities during the period of the loan. The market value of the loaned securities is determined at the close of business of the Fund and any additional required collateral is delivered to the Fund on the next business day. If the borrower defaults on its obligation to return the securities loaned because of insolvency or other reasons, the Fund may apply collateral received from the borrower against the obligation. The Fund may experience delays and costs in recovering the securities loaned. Any cash collateral received is invested in the Fidelity Securities Lending Cash Central Fund. The value of loaned securities and cash collateral at period end are disclosed on the Fund's Statement of Assets and Liabilities. Security lending income represents the income earned on investing cash collateral, less rebates paid to borrowers and any lending agent fees associated with the loan, plus any premium payments received for lending certain types of securities. Security lending income is presented in the Statement of Operations as a component of income from Fidelity Central Funds. Total security lending income during the period amounted to $1,811. During the period, there were no securities loaned to FCM.

9. Expense Reductions.

Commissions paid to certain brokers with whom the investment adviser, or its affiliates, places trades on behalf of the Fund include an amount in addition to trade execution, which may be rebated back to the Fund to offset certain expenses. This amount totaled $155 for the period.

In addition, the investment adviser reimbursed a portion of the Fund's operating expenses, including certain International Discovery expenses during the period in the amount of $5.

Semiannual Report

Notes to Financial Statements (Unaudited) - continued

(Amounts in thousands except percentages)

10. Distributions to Shareholders.

Distributions to shareholders of each class were as follows:

|                           | Six months ended
April 30,
2015 | Year ended
October 31,
2014
|-------------------------- | ------------------------------- | ---------------------------
|From net investment income |                                 |                            
|Class A                    | $	864                           | $	2,857                    
|Class T                    | 23                              | 344                        
|Class B                    | -                               | 2                          
|Class C                    | -                               | 79                         
|International Discovery    | 49,040                          | 93,065                     
|Class K                    | 19,835                          | 33,983                     
|Institutional Class        | 4,544                           | 5,936                      
|Class Z                    | 283                             | 60                         
|Total                      | $	74,589                        | $	136,326                  
|From net realized gain     |                                 |                            
|Class A                    | $	-                             | $	2,660                    
|Class T                    | -                               | 423                        
|Class B                    | -                               | 52                         
|Class C                    | -                               | 295                        
|International Discovery    | -                               | 61,190                     
|Class K                    | -                               | 20,093                     
|Institutional Class        | -                               | 3,838                      
|Class Z                    | -                               | 35                         
|Total                      | $	-                             | $	88,586                   

11. Share Transactions.

Share transactions for each class were as follows and may contain automatic conversions between classes or exchanges between funds:

|                              | Shares                          | Dollars                    
|----------------------------- | ------------------------------- | ---------------------------
|                              | Six months ended April 30,
2015 | Year ended
October 31,
2014
|Class A                       |                                 |                            
|Shares sold                   | 692                             | 1,382                      
|Reinvestment of distributions | 22                              | 137                        
|Shares redeemed               | (1,000)                         | (2,632)                    
|Net increase (decrease)       | (286)                           | (1,113)                    
|Class T                       |                                 |                            
|Shares sold                   | 96                              | 200                        
|Reinvestment of distributions | 1                               | 19                         
|Shares redeemed               | (215)                           | (311)                      
|Net increase (decrease)       | (118)                           | (92)                       

Semiannual Report

11. Share Transactions - continued

|                              | Shares                          | Dollars                    
|----------------------------- | ------------------------------- | ---------------------------
|                              | Six months ended April 30,
2015 | Year ended
October 31,
2014
|Class B                       |                                 |                            
|Shares sold                   | 1                               | 6                          
|Reinvestment of distributions | -                               | 1                          
|Shares redeemed               | (38)                            | (58)                       
|Net increase (decrease)       | (37)                            | (51)                       
|Class C                       |                                 |                            
|Shares sold                   | 104                             | 232                        
|Reinvestment of distributions | -                               | 9                          
|Shares redeemed               | (119)                           | (250)                      
|Net increase (decrease)       | (15)                            | (9)                        
|International Discovery       |                                 |                            
|Shares sold                   | 10,812                          | 28,809                     
|Reinvestment of distributions | 1,199                           | 3,813                      
|Shares redeemed               | (22,134)                        | (37,231)                   
|Net increase (decrease)       | (10,123)                        | (4,609)                    
|Class K                       |                                 |                            
|Shares sold                   | 8,328                           | 15,775                     
|Reinvestment of distributions | 508                             | 1,396                      
|Shares redeemed               | (10,794)A                       | (18,729)                   
|Net increase (decrease)       | (1,958)                         | (1,558)                    
|Institutional Class           |                                 |                            
|Shares sold                   | 7,532                           | 10,468                     
|Reinvestment of distributions | 33                              | 91                         
|Shares redeemed               | (2,496)                         | (5,852)                    
|Net increase (decrease)       | 5,069                           | 4,707                      
|Class Z                       |                                 |                            
|Shares sold                   | 153                             | 993                        
|Reinvestment of distributions | 7                               | 2                          
|Shares redeemed               | (95)                            | (96)                       
|Net increase (decrease)       | 65                              | 899                        

AAmount includes in-kind redemptions (see Note 5: Redemptions In-Kind).

Semiannual Report

Notes to Financial Statements (Unaudited) - continued

(Amounts in thousands except percentages)

12. Other.

The Fund's organizational documents provide former and current trustees and officers with a limited indemnification against liabilities arising in connection with the performance of their duties to the Fund. In the normal course of business, the Fund may also enter into contracts that provide general indemnifications. The Fund's maximum exposure under these arrangements is unknown as this would be dependent on future claims that may be made against the Fund. The risk of material loss from such claims is considered remote.

At the end of the period, Strategic Advisers International Fund was the owner of record of approximately 13% of the total outstanding shares of the Fund.

Semiannual Report

Investment Adviser

Fidelity Management & Research Company
Boston, MA

Investment Sub-Advisers

FMR Co., Inc.

FMR Investment Management 
(U.K.) Limited

FIL Investment Advisors

FIL Investments (Japan) Limited

FIL Investment Advisors (U.K.) Limited

Fidelity Management & Research
(Hong Kong) Limited

Fidelity Management & Research
(Japan) Limited

General Distributor

Fidelity Distributors Corporation

Smithfield, RI

Transfer and Service Agents

Fidelity Investments Institutional Operations Company, Inc.

Boston, MA

Fidelity Service Company, Inc.

Boston, MA

Custodian

The Northern Trust Company

Chicago, IL



(Fidelity Investment logo)(registered trademark)

`AIDI-USAN-0615
1.806664.110`

(Fidelity Investment logo)(registered trademark)Fidelity Advisor®

International Discovery

Fund - Class Z

Semiannual Report

April 30, 2015(Fidelity Cover Art)

Class Z is
a class of Fidelity®
International Discovery Fund

---

# Contents

|Shareholder Expense Example | (Click Here) | An example of shareholder expenses.                                                                          
|--------------------------- | ------------ | -------------------------------------------------------------------------------------------------------------
|Investment Changes          | (Click Here) | A summary of major shifts in the fund's investments over the past six months.                                
|Investments                 | (Click Here) | A complete list of the fund's investments with their market values.                                          
|Financial Statements        | (Click Here) | Statements of assets and liabilities, operations, and changes in net assets, as well as financial highlights.
|Notes                       | (Click Here) | Notes to financial statements.                                                                               

To view a fund's proxy voting guidelines and proxy voting record for the 12-month period ended June 30, visit http://www.fidelity.com/proxyvotingresults or visit the Securities and Exchange Commission's (SEC) web site at http://www.sec.gov. You may also call 1-877-208-0098 to request a free copy of the proxy voting guidelines.

Standard & Poor's, S&P and S&P 500 are registered service marks of The McGraw-Hill Companies, Inc. and have been licensed for use by Fidelity Distributors Corporation.

Other third-party marks appearing herein are the property of their respective owners.

All other marks appearing herein are registered or unregistered trademarks or service marks of FMR LLC or an affiliated company. © 2015 FMR LLC. All rights reserved.



This report and the financial statements contained herein are submitted for the general information of the shareholders of the fund. This report is not authorized for distribution to prospective investors in the fund unless preceded or accompanied by an effective prospectus.

A fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-Q. Forms N-Q are available on the SEC's web site at http://www.sec.gov.A fund's Forms N-Q may be reviewed and copied at the SEC's Public Reference Room in Washington, DC. Information regarding the operation of the SEC's Public Reference Room may be obtained by calling 1-800-SEC-0330. For a complete list of a fund's portfolio holdings, view the most recent holdings listing, semiannual report, or annual report on Fidelity's web site at http://www.fidelity.com, http://www.advisor.fidelity.com, or http://www.401k.com, as applicable.

NOT FDIC INSURED • MAY LOSE VALUE • NO BANK GUARANTEE

Neither the fund nor Fidelity Distributors Corporation is a bank.

Semiannual Report

---

# Shareholder Expense Example

As a shareholder of the Fund, you incur two types of costs: (1) transaction costs, including sales charges (loads) on purchase payments or redemption proceeds, redemption fees and (2) ongoing costs, including management fees, distribution and/or service (12b-1) fees and other Fund expenses. This Example is intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds.

The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (November 1, 2014 to April 30, 2015).

Actual Expenses

The first line of the accompanying table for each class of the Fund provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000.00 (for example, an $8,600 account value divided by $1,000.00 = 8.6), then multiply the result by the number in the first line for a class of the Fund under the heading entitled "Expenses Paid During Period" to estimate the expenses you paid on your account during this period. A small balance maintenance fee of $12.00 that is charged once a year may apply for certain accounts with a value of less than $2,000. This fee is not included in the table below. If it was, the estimate of expenses you paid during the period would be higher, and your ending account value lower, by this amount. In addition, the Fund, as a shareholder in the underlying Fidelity Central Funds, will indirectly bear its pro-rata share of the fees and expenses incurred by the underlying Fidelity Central Funds. These fees and expenses are not included in the Fund's annualized expense ratio used to calculate the expense estimate in the table below.

Hypothetical Example for Comparison Purposes

The second line of the accompanying table for each class of the Fund provides information about hypothetical account values and hypothetical expenses based on a Class' actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Class' actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds. A small balance maintenance fee of $12.00 that is charged once a year may apply for certain accounts with a value of less than $2,000. This fee is not included in the table below. If it was, the estimate of expenses you paid during the period would be higher, and your ending account value lower, by this amount. In addition, the Fund, as a shareholder in the underlying Fidelity Central Funds, will indirectly bear its pro-rata share of the fees and expenses incurred by the underlying Fidelity Central Funds. These fees and expenses are not included in the Fund's annualized expense ratio used to calculate the expense estimate in the table below.

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transaction costs. Therefore, the second line of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.

Semiannual Report

Shareholder Expense Example - continued

|                        | Annualized
Expense RatioB | Beginning
Account Value
November 1, 2014 | Ending
Account Value
April 30, 2015 | Expenses Paid
During Period*November 1, 2014
to April 30, 2015
|----------------------- | ------------------------- | ---------------------------------------- | ----------------------------------- | --------------------------------------------------------------
|Class A                 | 1.33%                     |                                          |                                     |                                                               
|Actual                  |                           | $	1,000.00                               | $	1,067.40                          | $	6.82                                                        
|HypotheticalA           |                           | $	1,000.00                               | $	1,018.20                          | $	6.66                                                        
|Class T                 | 1.57%                     |                                          |                                     |                                                               
|Actual                  |                           | $	1,000.00                               | $	1,066.10                          | $	8.04                                                        
|HypotheticalA           |                           | $	1,000.00                               | $	1,017.01                          | $	7.85                                                        
|Class B                 | 2.11%                     |                                          |                                     |                                                               
|Actual                  |                           | $	1,000.00                               | $	1,063.40                          | $	10.79                                                       
|HypotheticalA           |                           | $	1,000.00                               | $	1,014.33                          | $	10.54                                                       
|Class C                 | 2.08%                     |                                          |                                     |                                                               
|Actual                  |                           | $	1,000.00                               | $	1,063.50                          | $	10.64                                                       
|HypotheticalA           |                           | $	1,000.00                               | $	1,014.48                          | $	10.39                                                       
|International Discovery | .99%                      |                                          |                                     |                                                               
|Actual                  |                           | $	1,000.00                               | $	1,069.20                          | $	5.08                                                        
|HypotheticalA           |                           | $	1,000.00                               | $	1,019.89                          | $	4.96                                                        
|Class K                 | .86%                      |                                          |                                     |                                                               
|Actual                  |                           | $	1,000.00                               | $	1,070.30                          | $	4.41                                                        
|HypotheticalA           |                           | $	1,000.00                               | $	1,020.53                          | $	4.31                                                        
|Institutional Class     | 1.00%                     |                                          |                                     |                                                               
|Actual                  |                           | $	1,000.00                               | $	1,069.30                          | $	5.13                                                        
|HypotheticalA           |                           | $	1,000.00                               | $	1,019.84                          | $	5.01                                                        
|Class Z                 | .86%                      |                                          |                                     |                                                               
|Actual                  |                           | $	1,000.00                               | $	1,070.00                          | $	4.41                                                        
|HypotheticalA           |                           | $	1,000.00                               | $	1,020.53                          | $	4.31                                                        

A5% return per year before expenses

BAnnualized expense ratio reflects expenses net of applicable fee waivers.

*Expenses are equal to each Class' annualized expense ratio, multiplied by the average account value over the period, multiplied by 181/365 (to reflect the one-half year period).

Semiannual Report

---

# Investment Changes (Unaudited)

|Geographic Diversification (% of fund's net assets)
|---------------------------------------------------
|As of April 30, 2015                               
|int1048                                            
|int1050                                            
|int1052                                            
|int1054                                            
|int1056                                            
|int1058                                            
|int1060                                            
|int1062                                            
|int1064                                            
|int1066                                            

int1068

|*Includes Short-Term Investments and Net Other Assets (Liabilities).                                                               
|-----------------------------------------------------------------------------------------------------------------------------------
|Percentages are based on country or territory of incorporation and are adjusted for the effect of futures contracts, if applicable.

|As of October 31, 2014
|----------------------
|int1070               
|int1072               
|int1074               
|int1076               
|int1078               
|int1080               
|int1082               
|int1084               
|int1086               
|int1088               

int1090

|*Includes Short-Term Investments and Net Other Assets (Liabilities).                                                               
|-----------------------------------------------------------------------------------------------------------------------------------
|Percentages are based on country or territory of incorporation and are adjusted for the effect of futures contracts, if applicable.

|Asset Allocation as of April 30, 2015                                        
|-----------------------------------------------------------------------------
|                                                                             
|Stocks and Equity Futures                                                    
|Other Investments                                                            
|Short-Term Investments and Net Other Assets (Liabilities)                    
|Top Ten Stocks as of April 30, 2015                                          
|                                                                             
|Total SA (France, Oil, Gas & Consumable Fuels)                               
|Novartis AG (Switzerland, Pharmaceuticals)                                   
|Anheuser-Busch InBev SA NV (Belgium, Beverages)                              
|Unilever NV (Certificaten Van Aandelen) (Bearer) (Netherlands, Food Products)
|AIA Group Ltd. (Hong Kong, Insurance)                                        
|Techtronic Industries Co. Ltd. (Hong Kong, Household Durables)               
|Shire PLC (Bailiwick of Jersey, Pharmaceuticals)                             
|Housing Development Finance Corp. Ltd. (India, Thrifts & Mortgage Finance)   
|Astellas Pharma, Inc. (Japan, Pharmaceuticals)                               
|Australia & New Zealand Banking Group Ltd. (Australia, Banks)                
|                                                                             
|Market Sectors as of April 30, 2015                                          
|                                                                             
|Financials                                                                   
|Consumer Discretionary                                                       
|Health Care                                                                  
|Industrials                                                                  
|Information Technology                                                       
|Consumer Staples                                                             
|Energy                                                                       
|Telecommunication Services                                                   
|Materials                                                                    
|Utilities                                                                    

Semiannual Report

---

# Investments April 30, 2015 (Unaudited)

Showing Percentage of Net Assets

|Common Stocks - 96.1%                                
|-----------------------------------------------------
|                                                     
|Australia - 2.8%                                     
|Ansell Ltd.                                          
|Australia & New Zealand Banking Group Ltd.           
|Flight Centre Travel Group Ltd. (e)                  
|G8 Education Ltd.                                    
|Greencross Ltd.                                      
|Mantra Group Ltd.                                    
|Ramsay Health Care Ltd.                              
|Spotless Group Holdings Ltd.                         
|TOTAL AUSTRALIA                                      
|Austria - 0.2%                                       
|Andritz AG                                           
|Bailiwick of Jersey - 2.2%                           
|MySale Group PLC (f)                                 
|Regus PLC                                            
|Shire PLC                                            
|Wolseley PLC                                         
|TOTAL BAILIWICK OF JERSEY                            
|Belgium - 2.7%                                       
|Anheuser-Busch InBev SA NV                           
|KBC Groep NV                                         
|TOTAL BELGIUM                                        
|Bermuda - 1.3%                                       
|BW Offshore Ltd.                                     
|Haier Electronics Group Co. Ltd.                     
|PAX Global Technology Ltd. (a)(f)                    
|Travelport Worldwide Ltd. (e)                        
|TOTAL BERMUDA                                        
|Canada - 2.5%                                        
|Alimentation Couche-Tard, Inc. Class B (sub. vtg.)   
|Constellation Software, Inc.                         
|Constellation Software, Inc. rights 9/15/15 (a)      
|Imperial Oil Ltd.                                    
|Potash Corp. of Saskatchewan, Inc.                   
|PrairieSky Royalty Ltd. (e)                          
|Suncor Energy, Inc.                                  
|TransForce, Inc.                                     
|TOTAL CANADA                                         
|Common Stocks - continued                            
|                                                     
|Cayman Islands - 0.8%                                
|Alibaba Group Holding Ltd. sponsored ADR             
|Lee's Pharmaceutical Holdings Ltd.                   
|Value Partners Group Ltd.                            
|WuXi PharmaTech Cayman, Inc. sponsored ADR (a)       
|TOTAL CAYMAN ISLANDS                                 
|China - 1.0%                                         
|Daqin Railway Co. Ltd. (A Shares)                    
|Inner Mongoli Yili Industries Co. Ltd.               
|Jiangsu Hengrui Medicine Co. Ltd.                    
|Kweichow Moutai Co. Ltd.                             
|Yantai Changyu Pioneer Wine Co. Ltd. (B Shares)      
|TOTAL CHINA                                          
|Cyprus - 0.0%                                        
|SPDI Secure Property Development & Investment PLC (a)
|Denmark - 1.3%                                       
|Novo Nordisk A/S Series B                            
|Vestas Wind Systems A/S                              
|TOTAL DENMARK                                        
|Egypt - 0.0%                                         
|Edita Food Industries SAE GDR (a)(g)                 
|Finland - 0.7%                                       
|Sampo Oyj (A Shares)                                 
|France - 8.0%                                        
|Accor SA                                             
|Air Liquide SA                                       
|AXA SA                                               
|BNP Paribas SA                                       
|Cap Gemini SA                                        
|Havas SA                                             
|Ingenico SA                                          
|Numericable Group SA (a)                             
|Rexel SA                                             
|Safran SA                                            
|Schneider Electric SA (e)                            
|Sodexo SA (a)                                        
|SR Teleperformance SA                                
|Total SA                                             
|Common Stocks - continued                            
|                                                     
|France - continued                                   
|Unibail-Rodamco                                      
|Zodiac Aerospace                                     
|TOTAL FRANCE                                         
|Germany - 5.3%                                       
|Aareal Bank AG                                       
|Bayer AG                                             
|Beiersdorf AG                                        
|Continental AG (e)                                   
|Deutsche Annington Immobilien SE                     
|Deutsche Boerse AG                                   
|Deutsche Telekom AG                                  
|Fresenius SE & Co. KGaA                              
|GEA Group AG                                         
|KION Group AG                                        
|LEG Immobilien AG                                    
|ProSiebenSat.1 Media AG                              
|TOTAL GERMANY                                        
|Hong Kong - 2.7%                                     
|AIA Group Ltd.                                       
|Hutchison Whampoa Ltd.                               
|Techtronic Industries Co. Ltd.                       
|TOTAL HONG KONG                                      
|India - 3.6%                                         
|Bharti Infratel Ltd.                                 
|Edelweiss Financial Services Ltd.                    
|HDFC Bank Ltd. sponsored ADR                         
|Housing Development Finance Corp. Ltd.               
|Info Edge India Ltd.                                 
|Lupin Ltd.                                           
|Sun Pharmaceutical Industries Ltd. (a)               
|The Jammu & Kashmir Bank Ltd.                        
|Titan Co. Ltd. (a)                                   
|Yes Bank Ltd.                                        
|TOTAL INDIA                                          
|Indonesia - 0.4%                                     
|PT Bank Central Asia Tbk                             
|PT Bank Rakyat Indonesia Tbk                         
|TOTAL INDONESIA                                      
|Common Stocks - continued                            
|                                                     
|Ireland - 2.2%                                       
|Actavis PLC (a)                                      
|Bank of Ireland (a)                                  
|Glanbia PLC                                          
|James Hardie Industries PLC CDI                      
|Kerry Group PLC Class A                              
|TOTAL IRELAND                                        
|Isle of Man - 0.3%                                   
|Optimal Payments PLC (a)                             
|Optimal Payments PLC rights 5/1/15 (a)               
|Playtech Ltd.                                        
|TOTAL ISLE OF MAN                                    
|Israel - 0.8%                                        
|Frutarom Industries Ltd.                             
|Teva Pharmaceutical Industries Ltd. sponsored ADR    
|TOTAL ISRAEL                                         
|Italy - 2.5%                                         
|De Longhi SpA                                        
|Intesa Sanpaolo SpA                                  
|Mediaset SpA                                         
|Telecom Italia SpA (a)                               
|World Duty Free SpA (a)                              
|TOTAL ITALY                                          
|Japan - 15.3%                                        
|ACOM Co. Ltd. (a)                                    
|Aozora Bank Ltd.                                     
|Astellas Pharma, Inc.                                
|Coca-Cola Central Japan Co. Ltd.                     
|Dentsu, Inc.                                         
|Don Quijote Holdings Co. Ltd.                        
|Hitachi Ltd.                                         
|Hoya Corp.                                           
|Japan Exchange Group, Inc.                           
|Japan Tobacco, Inc.                                  
|KDDI Corp.                                           
|Keyence Corp.                                        
|Misumi Group, Inc.                                   
|Mitsubishi UFJ Financial Group, Inc.                 
|Monex Group, Inc.                                    
|NEC Corp.                                            
|Common Stocks - continued                            
|                                                     
|Japan - continued                                    
|Nidec Corp.                                          
|Olympus Corp. (a)                                    
|OMRON Corp.                                          
|ORIX Corp.                                           
|Rakuten, Inc.                                        
|Sanken Electric Co. Ltd.                             
|Seven Bank Ltd.                                      
|SoftBank Corp.                                       
|Sony Corp.                                           
|Sundrug Co. Ltd.                                     
|Toshiba Plant Systems & Services Corp.               
|Tsuruha Holdings, Inc.                               
|United Arrows Ltd.                                   
|VT Holdings Co. Ltd.                                 
|TOTAL JAPAN                                          
|Korea (South) - 0.3%                                 
|Samsung Electronics Co. Ltd.                         
|Luxembourg - 1.0%                                    
|Altice SA (a)                                        
|Eurofins Scientific SA                               
|Grand City Properties SA (a)                         
|TOTAL LUXEMBOURG                                     
|Marshall Islands - 0.1%                              
|Hoegh LNG Partners LP (f)                            
|Netherlands - 4.6%                                   
|AerCap Holdings NV (a)                               
|Arcadis NV                                           
|ASML Holding NV (Netherlands)                        
|IMCD Group BV                                        
|ING Groep NV (Certificaten Van Aandelen)             
|Mobileye NV (a)(e)                                   
|Unilever NV (Certificaten Van Aandelen) (Bearer)     
|TOTAL NETHERLANDS                                    
|New Zealand - 0.7%                                   
|EBOS Group Ltd.                                      
|Ryman Healthcare Group Ltd.                          
|TOTAL NEW ZEALAND                                    
|Common Stocks - continued                            
|                                                     
|Philippines - 0.7%                                   
|Alliance Global Group, Inc.                          
|SM Investments Corp.                                 
|TOTAL PHILIPPINES                                    
|South Africa - 1.0%                                  
|EOH Holdings Ltd.                                    
|Naspers Ltd. Class N                                 
|TOTAL SOUTH AFRICA                                   
|Spain - 1.9%                                         
|Amadeus IT Holding SA Class A                        
|Atresmedia Corporacion de Medios de Comunicacion SA  
|Hispania Activos Inmobiliarios SA (a)                
|Inditex SA                                           
|Mediaset Espana Comunicacion, S.A.                   
|TOTAL SPAIN                                          
|Sweden - 2.1%                                        
|ASSA ABLOY AB (B Shares)                             
|HEXPOL AB (B Shares)                                 
|Nordea Bank AB                                       
|Svenska Handelsbanken AB (A Shares)                  
|TOTAL SWEDEN                                         
|Switzerland - 5.5%                                   
|Clariant AG (Reg.)                                   
|GAM Holding Ltd.                                     
|Julius Baer Group Ltd.                               
|Lonza Group AG                                       
|Novartis AG                                          
|Partners Group Holding AG                            
|Schindler Holding AG (participation certificate)     
|Sonova Holding AG Class B                            
|UBS Group AG                                         
|TOTAL SWITZERLAND                                    
|Taiwan - 0.8%                                        
|ECLAT Textile Co. Ltd.                               
|JHL Biotech, Inc. (j)                                
|Merida Industry Co. Ltd.                             
|Taiwan Semiconductor Manufacturing Co. Ltd.          
|TOTAL TAIWAN                                         
|Common Stocks - continued                            
|                                                     
|Turkey - 0.1%                                        
|Logo Yazilim Sanayi Ve Ticar                         
|United Kingdom - 18.0%                               
|AA PLC                                               
|Aberdeen Asset Management PLC                        
|Al Noor Hospitals Group PLC                          
|Associated British Foods PLC                         
|Aviva PLC                                            
|B&M European Value Retail S.A.                       
|BG Group PLC                                         
|British American Tobacco PLC (United Kingdom)        
|BT Group PLC                                         
|BTG PLC (a)                                          
|Bunzl PLC                                            
|Diploma PLC                                          
|Essentra PLC                                         
|Hikma Pharmaceuticals PLC                            
|Howden Joinery Group PLC                             
|HSBC Holdings PLC (United Kingdom)                   
|Imperial Tobacco Group PLC                           
|ITE Group PLC                                        
|ITV PLC                                              
|Johnson Matthey PLC                                  
|Liberty Global PLC Class A (a)                       
|Lloyds Banking Group PLC                             
|London Stock Exchange Group PLC                      
|Meggitt PLC                                          
|Melrose PLC                                          
|Next PLC                                             
|Persimmon PLC                                        
|Poundland Group PLC                                  
|Reckitt Benckiser Group PLC                          
|Rex Bionics PLC (a)(f)                               
|Rio Tinto PLC                                        
|Royal Dutch Shell PLC Class A (United Kingdom)       
|SABMiller PLC                                        
|Schroders PLC                                        
|Shawbrook Group Ltd.                                 
|Spirax-Sarco Engineering PLC                         
|St. James's Place Capital PLC                        
|Taylor Wimpey PLC                                    
|The Restaurant Group PLC                             
|Virgin Money Holdings Uk PLC (a)                     
|Common Stocks - continued                            
|                                                     
|United Kingdom - continued                           
|Vodafone Group PLC                                   
|Whitbread PLC                                        
|Workspace Group PLC                                  
|TOTAL UNITED KINGDOM                                 
|United States of America - 2.7%                      
|Chevron Corp.                                        
|Constellation Brands, Inc. Class A (sub. vtg.) (a)   
|McGraw Hill Financial, Inc.                          
|Monster Beverage Corp. (a)                           
|Visa, Inc. Class A                                   
|TOTAL UNITED STATES OF AMERICA                       
|TOTAL COMMON STOCKS
(Cost $9,169,054)                
|Preferred Stocks - 1.3%                              
|                                                     
|Convertible Preferred Stocks - 0.2%                  
|Cayman Islands - 0.2%                                
|Meituan Corp. Series D (j)                           
|Nonconvertible Preferred Stocks - 1.1%               
|Germany - 1.1%                                       
|Henkel AG & Co. KGaA                                 
|Volkswagen AG (e)                                    
|TOTAL GERMANY                                        
|TOTAL PREFERRED STOCKS
(Cost $123,294)               

|Government Obligations - 0.1%                                                                    
|-------------------------------------------------------------------------------------------------
|                                                                                                 
|United States of America - 0.1%                                                                  
|U.S. Treasury Bills, yield at date of purchase 0.01% to 0.02% 5/7/15 to 5/14/15 (i)
(Cost $7,710)
|Preferred Securities - 0.1%                                                                      
|                                                                                                 
|Ireland - 0.1%                                                                                   
|Baggot Securities Ltd. 10.24% (g)(h)
(Cost $13,883)                                              

|Money Market Funds - 3.5%                                  
|-----------------------------------------------------------
|                                                           
|Fidelity Cash Central Fund, 0.15% (b)                      
|Fidelity Securities Lending Cash Central Fund, 0.17% (b)(c)
|TOTAL MONEY MARKET FUNDS
(Cost $402,598)                   
|TOTAL INVESTMENT PORTFOLIO - 101.1%
(Cost $9,716,539)      
|NET OTHER ASSETS (LIABILITIES) - (1.1)%                    
|NET ASSETS - 100%                                          

|Futures Contracts                                   
|----------------------------------------------------
|                                                    
|Purchased                                           
|Equity Index Contracts                              
|2,033 CME Nikkei 225 Index Contracts (United States)

|The face value of futures purchased as a percentage of net assets is 1.7%                                                   
|----------------------------------------------------------------------------------------------------------------------------
|For the period, the average monthly underlying face amount at value for futures contracts in the aggregate was $256,259,000.

|Currency Abbreviations
|----------------------
|EUR                   

|Legend                                                                                                                                                                                                                                                                                                                                                                                                                                           
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|(a)	Non-income producing                                                                                                                                                                                                                                                                                                                                                                                                                         
|(b)	Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.
|(c)	Investment made with cash collateral received from securities on loan.                                                                                                                                                                                                                                                                                                                                                                       
|(d)	Amount is stated in United States dollars unless otherwise noted.                                                                                                                                                                                                                                                                                                                                                                            
|(e)	Security or a portion of the security is on loan at period end.                                                                                                                                                                                                                                                                                                                                                                              
|(f)	Affiliated company                                                                                                                                                                                                                                                                                                                                                                                                                           
|(g)	Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $13,136,000 or 0.1% of net assets.                                                                                                                                 
|(h)	Security is perpetual in nature with no stated maturity date.                                                                                                                                                                                                                                                                                                                                                                                
|(i)	Security or a portion of the security was pledged to cover margin requirements for futures contracts. At period end, the value of securities pledged amounted to $7,496,000.                                                                                                                                                                                                                                                                 
|(j)	Restricted securities - Investment in securities not registered under the Securities Act of 1933 (excluding 144A issues). At the end of the period, the value of restricted securities (excluding 144A issues) amounted to $31,387,000 or 0.3% of net assets.                                                                                                                                                                                
|Additional information on each restricted holding is as follows:                                                                                                                                                                                                                                                                                                                                                                                 

|Security               | Acquisition Date | Acquisition Cost (000s)
|---------------------- | ---------------- | -----------------------
|JHL Biotech, Inc.      | 4/14/15          | $	9,342                
|Meituan Corp. Series D | 1/26/15          | $	18,833               

|Affiliated Central Funds                                                                                                     
|-----------------------------------------------------------------------------------------------------------------------------
|Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:

|Fund                                          | Income earned
(Amounts in thousands)
|--------------------------------------------- | ------------------------------------
|Fidelity Cash Central Fund                    | $	343                               
|Fidelity Securities Lending Cash Central Fund | 1,811                               
|Total                                         | $	2,154                             

|Other Affiliated Issuers                                                                                                                                                                                
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|An affiliated company is a company in which the Fund has ownership of at least 5% of the voting securities. Fiscal year to date transactions with companies which are or were affiliates are as follows:

|Affiliate
(Amounts in thousands) | Value, beginning of period | Purchases | Sales
Proceeds* | Dividend
Income | Value,
end of
period
|-------------------------------- | -------------------------- | --------- | --------------- | --------------- | --------------------
|Hoegh LNG Partners LP            | $	12,426                   | $	2,837   | $	130           | $	271           | $	15,679            
|MySale Group PLC                 | 26,053                     | -         | 61              | -               | 7,138               
|PAX Global Technology Ltd.       | 71,203                     | 795       | 600             | -               | 97,048              
|Rex Bionics PLC                  | 3,518                      | -         | 12              | -               | 1,263               
|Total                            | $	113,200                  | $	3,632   | $	803           | $	271           | $	121,128           

* Includes the value of securities delivered through in-kind transactions.

|Other Information                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|Categorizations in the Schedule of Investments are based on country or territory of incorporation.                                                                                                                                                                                                                                                                                                                                                                                             
|The following is a summary of the inputs used, as of April 30, 2015, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the tables below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

|Valuation Inputs at Reporting Date:
|-----------------------------------
|Description
(Amounts in thousands) 
|Investments in Securities:         
|Equities:                          
|Consumer Discretionary             
|Consumer Staples                   
|Energy                             
|Financials                         
|Health Care                        
|Industrials                        
|Information Technology             
|Materials                          
|Telecommunication Services         
|Government Obligations             
|Valuation Inputs at Reporting Date:
|Description
(Amounts in thousands) 
|Investments in Securities:         
|Equities:                          
|Preferred Securities               
|Money Market Funds                 
|Total Investments in Securities:   
|Derivative Instruments:            
|Assets                             
|Futures Contracts                  

|The following is a summary of transfers between Level 1 and Level 2 for the period endedApril 30, 2015. Transfers are assumed to have occurred at the beginning of the period, and are primarily attributable to the valuation techniques used for foreign equity securities, as discussed in the accompanying Notes to Financial Statements:
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|Transfers          | Total (000s)
|------------------ | ------------
|Level 1 to Level 2 | $	3,100,351 
|Level 2 to Level 1 | $	1,239,771 

|Value of Derivative Instruments                                                                                                                                                                                                                                                          
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|The following table is a summary of the Fund's value of derivative instruments by primary risk exposure as of April 30, 2015. For additional information on derivative instruments, please refer to the Derivative Instruments section in the accompanying Notes to Financial Statements.

|Primary Risk Exposure /Derivative Type | Value (000s)
|-------------------------------------- | ------------
|                                       | Asset       
|Equity Risk                            |             
|Futures Contracts (a)                  | $	5,906     
|Total Value of Derivatives             | $	5,906     

|(a) Reflects gross cumulative appreciation (depreciation) on futures contracts as presented in the Schedule of Investments. Only the period end receivable or payable for daily variation margin and net unrealized appreciation (depreciation) are presented in the Statement of Assets and Liabilities.
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

---

# Financial Statements

## Statement of Assets and Liabilities

|Amounts in thousands (except per-share amounts)                                                                                                  | April 30, 2015 (Unaudited)
|------------------------------------------------------------------------------------------------------------------------------------------------ | --------------------------
|                                                                                                                                                 |                           
|Assets                                                                                                                                           |                           
|Investment in securities, at value (including securities loaned of $169,755) - See accompanying schedule:
Unaffiliated issuers (cost $9,224,668) | $	10,974,157              
|Fidelity Central Funds (cost $402,598)                                                                                                           | 402,598                   
|Other affiliated issuers (cost $89,273)                                                                                                          | 121,128                   
|Total Investments (cost $9,716,539)                                                                                                              |                           
|Foreign currency held at value (cost $4,728)                                                                                                     |                           
|Receivable for investments sold                                                                                                                  |                           
|Receivable for fund shares sold                                                                                                                  |                           
|Dividends receivable                                                                                                                             |                           
|Distributions receivable from Fidelity Central Funds                                                                                             |                           
|Prepaid expenses                                                                                                                                 |                           
|Other receivables                                                                                                                                |                           
|Total assets                                                                                                                                     |                           
|                                                                                                                                                 |                           
|Liabilities                                                                                                                                      |                           
|Payable for investments purchased                                                                                                                | $	67,420                  
|Payable for fund shares redeemed                                                                                                                 | 15,030                    
|Accrued management fee                                                                                                                           | 6,812                     
|Distribution and service plan fees payable                                                                                                       | 117                       
|Payable for daily variation margin for derivative instruments                                                                                    | 4,015                     
|Other affiliated payables                                                                                                                        | 1,583                     
|Other payables and accrued expenses                                                                                                              | 5,620                     
|Collateral on securities loaned, at value                                                                                                        | 178,390                   
|Total liabilities                                                                                                                                |                           
|                                                                                                                                                 |                           
|Net Assets                                                                                                                                       |                           
|Net Assets consist of:                                                                                                                           |                           
|Paid in capital                                                                                                                                  |                           
|Undistributed net investment income                                                                                                              |                           
|Accumulated undistributed net realized gain (loss) on investments and foreign currency transactions                                              |                           
|Net unrealized appreciation (depreciation) on investments and assets and liabilities in foreign currencies                                       |                           
|Net Assets                                                                                                                                       |                           

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Statement of Assets and Liabilities - continued

|Amounts in thousands (except per-share amounts)                                                                               | April 30, 2015 (Unaudited)
|----------------------------------------------------------------------------------------------------------------------------- | --------------------------
|                                                                                                                              |                           
|Calculation of Maximum Offering Price
Class A:
Net Asset Valueand redemption price per share ($304,057.33 ÷ 7,381.512 shares) |                           
|                                                                                                                              |                           
|Maximum offering price per share (100/94.25 of $41.19)                                                                        |                           
|Class T:
Net Asset Value and redemption price per share ($46,880.10 ÷ 1,144.698 shares)                                       |                           
|                                                                                                                              |                           
|Maximum offering price per share (100/96.50 of $40.95)                                                                        |                           
|Class B:
Net Asset Value and offering price per share ($3,368.75 ÷ 82.673 shares)A                                            |                           
|                                                                                                                              |                           
|Class C:
Net Asset Value and offering price per share ($36,977.48 ÷ 909.094 shares)A                                          |                           
|                                                                                                                              |                           
|International Discovery:
Net Asset Value, offering price and redemption price per share ($7,509,970.46 ÷ 181,122.244 shares)  |                           
|                                                                                                                              |                           
|Class K:
Net Asset Value, offering price and redemption price per share ($2,535,160.10 ÷ 61,270.682 shares)                   |                           
|                                                                                                                              |                           
|Institutional Class:
Net Asset Value, offering price and redemption price per share ($899,960.61 ÷ 21,750.815 shares)         |                           
|                                                                                                                              |                           
|Class Z:
Net Asset Value, offering price and redemption price per share ($39,986.32 ÷ 966.930 shares)                         |                           

ARedemption price per share is equal to net asset value less any applicable contingent deferred sales charge.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

Financial Statements - continued

## Statement of Operations

|Amounts in thousands 	Six months ended April 30, 2015 (Unaudited)                                                                   
|------------------------------------------------------------------------------------------------------------------------------------
|                                                                                                                                    
|Investment Income                                                                                                                   
|Dividends (including $271 earned from other affiliated issuers)                                                                     
|Interest                                                                                                                            
|Income from Fidelity Central Funds                                                                                                  
|Income before foreign taxes withheld                                                                                                
|Less foreign taxes withheld                                                                                                         
|Total income                                                                                                                        
|                                                                                                                                    
|Expenses                                                                                                                            
|Management fee
Basic fee                                                                                                            
|Performance adjustment                                                                                                              
|Transfer agent fees                                                                                                                 
|Distribution and service plan fees                                                                                                  
|Accounting and security lending fees                                                                                                
|Custodian fees and expenses                                                                                                         
|Independent trustees' compensation                                                                                                  
|Registration fees                                                                                                                   
|Audit                                                                                                                               
|Legal                                                                                                                               
|Miscellaneous                                                                                                                       
|Total expenses before reductions                                                                                                    
|Expense reductions                                                                                                                  
|Net investment income (loss)                                                                                                        
|Realized and Unrealized Gain (Loss)
Net realized gain (loss) on:                                                                    
|Investment securities:                                                                                                              
|Unaffiliated issuers                                                                                                                
|Other affiliated issuers                                                                                                            
|Foreign currency transactions                                                                                                       
|Futures contracts                                                                                                                   
|Total net realized gain (loss)                                                                                                      
|Change in net unrealized appreciation (depreciation) on:
Investment securities (net of decrease in deferred foreign taxes of $2,662)
|Assets and liabilities in foreign currencies                                                                                        
|Futures contracts                                                                                                                   
|Total change in net unrealized appreciation (depreciation)                                                                          
|Net gain (loss)                                                                                                                     
|Netincrease (decrease) in net assets resulting from operations                                                                      

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Statement of Changes in Net Assets

|Amounts in thousands                                                                                                                      | Six months ended April 30, 2015 (Unaudited) | Year ended
October 31,
2014
|----------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------------------- | ---------------------------
|Increase (Decrease) in Net Assets                                                                                                         |                                             |                            
|Operations                                                                                                                                |                                             |                            
|Net investment income (loss)                                                                                                              | $	49,711                                    | $	199,098                  
|Net realized gain (loss)                                                                                                                  | 236,783                                     | 758,004                    
|Change in net unrealized appreciation (depreciation)                                                                                      | 464,328                                     | (958,756)                  
|Netincrease (decrease) in net assets resulting from operations                                                                            | 750,822                                     | (1,654)                    
|Distributions to shareholders from net investment income                                                                                  | (74,589)                                    | (136,326)                  
|Distributions to shareholders from net realized gain                                                                                      | -                                           | (88,586)                   
|Total distributions                                                                                                                       | (74,589)                                    | (224,912)                  
|Share transactions - net increase (decrease)                                                                                              | (298,467)                                   | (69,908)                   
|Redemption fees                                                                                                                           | 44                                          | 139                        
|Total increase (decrease) in net assets                                                                                                   | 377,810                                     | (296,335)                  
|                                                                                                                                          |                                             |                            
|Net Assets                                                                                                                                |                                             |                            
|Beginning of period                                                                                                                       | 10,998,551                                  | 11,294,886                 
|End of period (including undistributed net investment income of $43,731 and undistributed net investment income of $68,609, respectively) | $	11,376,361                                | $	10,998,551               

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - Class A

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | Six months ended April 30, 2015 | Years ended October 31,
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------- | -----------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | (Unaudited)                     | 2014                   
|Selected Per-Share Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |                                 |                        
|Net asset value, beginning of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | $	38.70                         | $	39.49                
|Income from Investment Operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                                 |                        
|Net investment income (loss)E                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | .11                             | .53H                   
|Net realized and unrealized gain (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | 2.49                            | (.67)                  
|Total from investment operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | 2.60                            | (.14)                  
|Distributions from net investment income                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | (.11)                           | (.33)                  
|Distributions from net realized gain                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | -                               | (.31)                  
|Total distributions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | (.11)                           | (.65)L                 
|Redemption fees added to paid in capital E, J                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | -                               | -                      
|Net asset value, end of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | $	41.19                         | $	38.70                
|Total ReturnB, C, D                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | 6.74%                           | (.36)%                 
|Ratios to Average Net AssetsF, I                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |                                 |                        
|Expenses before reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | 1.33%A                          | 1.28%                  
|Expenses net of fee waivers, if any                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | 1.33%A                          | 1.28%                  
|Expenses net of all reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | 1.33%A                          | 1.28%                  
|Net investment income (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | .54%A                           | 1.35%H                 
|Supplemental Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                                 |                        
|Net assets, end of period (in millions)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | $	304                           | $	297                  
|Portfolio turnover rateG                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | 73%A,K                          | 57%                    
|AAnnualizedBTotal returns for periods of less than one year are not annualized.CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.DTotal returns do not include the effect of the sales charges.ECalculated based on average shares outstanding during the period.FFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.GAmount does not include the portfolio activity of any underlying Fidelity Central Funds.HInvestment income per share reflects a large, non-recurring dividend which amounted to $.22 per share. Excluding this non-recurring dividend, the ratio of net investment income (loss) to average net assets would have been .80%.IExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.JAmount represents less than $.01 per share.KPortfolio turnover rate excludes securities received or delivered in-kind.LTotal distributions of $.65 per share is comprised of distributions from net investment income of $.334 and distributions from net realized gain of $.311 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - Class T

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | Six months ended April 30, 2015 | Years ended October 31,
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------- | -----------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | (Unaudited)                     | 2014                   
|Selected Per-Share Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                                 |                        
|Net asset value, beginning of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | $	38.43                         | $	39.23                
|Income from Investment Operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |                                 |                        
|Net investment income (loss)E                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | .06                             | .44H                   
|Net realized and unrealized gain (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | 2.48                            | (.68)                  
|Total from investment operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | 2.54                            | (.24)                  
|Distributions from net investment income                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | (.02)                           | (.25)                  
|Distributions from net realized gain                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | -                               | (.31)                  
|Total distributions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | (.02)                           | (.56)                  
|Redemption fees added to paid in capital E, J                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | -                               | -                      
|Net asset value, end of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | $	40.95                         | $	38.43                
|Total ReturnB, C, D                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | 6.61%                           | (.60)%                 
|Ratios to Average Net AssetsF, I                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |                                 |                        
|Expenses before reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | 1.57%A                          | 1.51%                  
|Expenses net of fee waivers, if any                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | 1.57%A                          | 1.51%                  
|Expenses net of all reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | 1.57%A                          | 1.51%                  
|Net investment income (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | .30%A                           | 1.11%H                 
|Supplemental Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |                                 |                        
|Net assets, end of period (in millions)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $	47                            | $	49                   
|Portfolio turnover rateG                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | 73%A,K                          | 57%                    
|AAnnualizedBTotal returns for periods of less than one year are not annualized.CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.DTotal returns do not include the effect of the sales charges.ECalculated based on average shares outstanding during the period.FFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.GAmount does not include the portfolio activity of any underlying Fidelity Central Funds.HInvestment income per share reflects a large, non-recurring dividend which amounted to $.21 per share. Excluding this non-recurring dividend, the ratio of net investment income (loss) to average net assets would have been .56%.IExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.JAmount represents less than $.01 per share.KPortfolio turnover rate excludes securities received or delivered in-kind.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - Class B

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | Six months ended April 30, 2015 | Years ended October 31,
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------- | -----------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | (Unaudited)                     | 2014                   
|Selected Per-Share Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                                 |                        
|Net asset value, beginning of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | $	38.32                         | $	39.08                
|Income from Investment Operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                                 |                        
|Net investment income (loss)E                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | (.05)                           | .22H                   
|Net realized and unrealized gain (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | 2.48                            | (.66)                  
|Total from investment operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | 2.43                            | (.44)                  
|Distributions from net investment income                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | -                               | (.01)                  
|Distributions from net realized gain                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | -                               | (.31)                  
|Total distributions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | -                               | (.32)                  
|Redemption fees added to paid in capital E, J                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | -                               | -                      
|Net asset value, end of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | $	40.75                         | $	38.32                
|Total ReturnB, C, D                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | 6.34%                           | (1.12)%                
|Ratios to Average Net AssetsF, I                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |                                 |                        
|Expenses before reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | 2.11%A                          | 2.06%                  
|Expenses net of fee waivers, if any                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | 2.11%A                          | 2.06%                  
|Expenses net of all reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | 2.11%A                          | 2.05%                  
|Net investment income (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | (.24)%A                         | .57%H                  
|Supplemental Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                                 |                        
|Net assets, end of period (in millions)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | $	3                             | $	5                    
|Portfolio turnover rateG                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | 73%A,K                          | 57%                    
|AAnnualizedBTotal returns for periods of less than one year are not annualized.CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.DTotal returns do not include the effect of the contingent deferred sales charge.ECalculated based on average shares outstanding during the period.FFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.GAmount does not include the portfolio activity of any underlying Fidelity Central Funds.HInvestment income per share reflects a large, non-recurring dividend which amounted to $.21 per share. Excluding this non-recurring dividend, the ratio of net investment income (loss) to average net assets would have been .02%.IExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.JAmount represents less than $.01 per share.KPortfolio turnover rate excludes securities received or delivered in-kind.LTotal distributions of $.27 per share is comprised of distributions from net investment income of $.115 and distributions from net realized gain of $.155 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - Class C

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | Six months ended April 30, 2015 | Years ended October 31,
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------- | -----------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | (Unaudited)                     | 2014                   
|Selected Per-Share Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                                 |                        
|Net asset value, beginning of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | $	38.25                         | $	39.07                
|Income from Investment Operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                                 |                        
|Net investment income (loss)E                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | (.04)                           | .23H                   
|Net realized and unrealized gain (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | 2.47                            | (.66)                  
|Total from investment operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | 2.43                            | (.43)                  
|Distributions from net investment income                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | -                               | (.08)                  
|Distributions from net realized gain                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | -                               | (.31)                  
|Total distributions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | -                               | (.39)                  
|Redemption fees added to paid in capital E, J                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | -                               | -                      
|Net asset value, end of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | $	40.68                         | $	38.25                
|Total ReturnB, C, D                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | 6.35%                           | (1.10)%                
|Ratios to Average Net AssetsF, I                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |                                 |                        
|Expenses before reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | 2.08%A                          | 2.03%                  
|Expenses net of fee waivers, if any                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | 2.08%A                          | 2.03%                  
|Expenses net of all reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | 2.08%A                          | 2.02%                  
|Net investment income (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | (.21)%A                         | .60%H                  
|Supplemental Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                                 |                        
|Net assets, end of period (in millions)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | $	37                            | $	35                   
|Portfolio turnover rateG                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | 73%A,K                          | 57%                    
|AAnnualizedBTotal returns for periods of less than one year are not annualized.CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.DTotal returns do not include the effect of the contingent deferred sales charge.ECalculated based on average shares outstanding during the period.FFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.GAmount does not include the portfolio activity of any underlying Fidelity Central Funds.HInvestment income per share reflects a large, non-recurring dividend which amounted to $.21 per share. Excluding this non-recurring dividend, the ratio of net investment income (loss) to average net assets would have been .05%.IExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.JAmount represents less than $.01 per share.KPortfolio turnover rate excludes securities received or delivered in-kind.LTotal distributions of $.29 per share is comprised of distributions from net investment income of $.137 and distributions from net realized gain of $.155 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - International Discovery

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | Six months ended April 30, 2015 | Years ended October 31,
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------- | -----------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | (Unaudited)                     | 2014                   
|Selected Per-Share Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |                                 |                        
|Net asset value, beginning of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | $	39.03                         | $	39.82                
|Income from Investment Operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |                                 |                        
|Net investment income (loss)D                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | .17                             | .67G                   
|Net realized and unrealized gain (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | 2.52                            | (.68)                  
|Total from investment operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | 2.69                            | (.01)                  
|Distributions from net investment income                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | (.26)                           | (.47)                  
|Distributions from net realized gain                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | -                               | (.31)                  
|Total distributions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | (.26)                           | (.78)                  
|Redemption fees added to paid in capital D, I                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | -                               | -                      
|Net asset value, end of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | $	41.46                         | $	39.03                
|Total ReturnB, C                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | 6.92%                           | (.01)%                 
|Ratios to Average Net AssetsE, H                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |                                 |                        
|Expenses before reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | .99%A                           | .93%                   
|Expenses net of fee waivers, if any                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | .99%A                           | .93%                   
|Expenses net of all reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | .98%A                           | .93%                   
|Net investment income (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | .88%A                           | 1.69%G                 
|Supplemental Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |                                 |                        
|Net assets, end of period (in millions)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | $	7,510                         | $	7,464                
|Portfolio turnover rateF                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | 73%A,J                          | 57%                    
|AAnnualizedBTotal returns for periods of less than one year are not annualized.CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.DCalculated based on average shares outstanding during the period.EFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.FAmount does not include the portfolio activity of any underlying Fidelity Central Funds.GInvestment income per share reflects a large, non-recurring dividend which amounted to $.22 per share. Excluding this non-recurring dividend, the ratio of net investment income (loss) to average net assets would have been 1.15%.HExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.IAmount represents less than $.01 per share.JPortfolio turnover rate excludes securities received or delivered in-kind.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - Class K

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | Six months ended April 30, 2015 | Years ended October 31,
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ------------------------------- | -----------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | (Unaudited)                     | 2014                   
|Selected Per-Share Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                                 |                        
|Net asset value, beginning of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | $	38.97                         | $	39.76                
|Income from Investment Operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                                 |                        
|Net investment income (loss)D                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | .20                             | .72G                   
|Net realized and unrealized gain (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | 2.52                            | (.67)                  
|Total from investment operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | 2.72                            | .05                    
|Distributions from net investment income                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | (.31)                           | (.53)                  
|Distributions from net realized gain                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | -                               | (.31)                  
|Total distributions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | (.31)                           | (.84)                  
|Redemption fees added to paid in capital D, I                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | -                               | -                      
|Net asset value, end of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | $	41.38                         | $	38.97                
|Total ReturnB, C                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | 7.03%                           | .13%                   
|Ratios to Average Net AssetsE, H                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |                                 |                        
|Expenses before reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | .86%A                           | .80%                   
|Expenses net of fee waivers, if any                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | .86%A                           | .80%                   
|Expenses net of all reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | .85%A                           | .79%                   
|Net investment income (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | 1.01%A                          | 1.83%G                 
|Supplemental Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                                 |                        
|Net assets, end of period (in millions)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | $	2,535                         | $	2,464                
|Portfolio turnover rateF                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | 73%A,J                          | 57%                    
|AAnnualizedBTotal returns for periods of less than one year are not annualized.CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.DCalculated based on average shares outstanding during the period.EFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.FAmount does not include the portfolio activity of any underlying Fidelity Central Funds.GInvestment income per share reflects a large, non-recurring dividend which amounted to $.22 per share. Excluding this non-recurring dividend, the ratio of net investment income (loss) to average net assets would have been 1.28%.HExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.IAmount represents less than $.01 per share.JPortfolio turnover rate excludes securities received or delivered in-kind.KTotal distributions of $.70 per share is comprised of distributions from net investment income of $.548 and distributions from net realized gain of $.155 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - Institutional Class

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | Six months ended April 30, 2015 | Years ended October 31,
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ------------------------------- | -----------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | (Unaudited)                     | 2014                   
|Selected Per-Share Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                                 |                        
|Net asset value, beginning of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | $	38.96                         | $	39.76                
|Income from Investment Operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                                 |                        
|Net investment income (loss)D                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | .17                             | .67G                   
|Net realized and unrealized gain (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | 2.51                            | (.68)                  
|Total from investment operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | 2.68                            | (.01)                  
|Distributions from net investment income                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | (.26)                           | (.48)                  
|Distributions from net realized gain                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | -                               | (.31)                  
|Total distributions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | (.26)                           | (.79)                  
|Redemption fees added to paid in capital D, I                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | -                               | -                      
|Net asset value, end of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | $	41.38                         | $	38.96                
|Total ReturnB, C                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | 6.93%                           | (.01)%                 
|Ratios to Average Net AssetsE, H                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |                                 |                        
|Expenses before reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | 1.00%A                          | .93%                   
|Expenses net of fee waivers, if any                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | 1.00%A                          | .93%                   
|Expenses net of all reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | .99%A                           | .93%                   
|Net investment income (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | .87%A                           | 1.69%G                 
|Supplemental Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                                 |                        
|Net assets, end of period (in millions)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | $	900                           | $	650                  
|Portfolio turnover rateF                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | 73%A,J                          | 57%                    
|AAnnualizedBTotal returns for periods of less than one year are not annualized.CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.DCalculated based on average shares outstanding during the period.EFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.FAmount does not include the portfolio activity of any underlying Fidelity Central Funds.GInvestment income per share reflects a large, non-recurring dividend which amounted to $.22 per share. Excluding this non-recurring dividend, the ratio of net investment income (loss) to average net assets would have been 1.14%.HExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.IAmount represents less than $.01 per share.JPortfolio turnover rate excludes securities received or delivered in-kind.KTotal distributions of $.65 per share is comprised of distributions from net investment income of $.497 and distributions from net realized gain of $.155 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - Class Z

|                                              | Six months ended April 30, 2015 | Years ended October 31,
|--------------------------------------------- | ------------------------------- | -----------------------
|                                              | (Unaudited)                     | 2014                   
|Selected Per-Share Data                       |                                 |                        
|Net asset value, beginning of period          | $	38.96                         | $	39.77                
|Income from Investment Operations             |                                 |                        
|Net investment income (loss)D                 | .20                             | .72G                   
|Net realized and unrealized gain (loss)       | 2.51                            | (.68)                  
|Total from investment operations              | 2.71                            | .04                    
|Distributions from net investment income      | (.32)                           | (.54)                  
|Distributions from net realized gain          | -                               | (.31)                  
|Total distributions                           | (.32)                           | (.85)                  
|Redemption fees added to paid in capital D, J | -                               | -                      
|Net asset value, end of period                | $	41.35                         | $	38.96                
|Total ReturnB, C                              | 7.00%                           | .12%                   
|Ratios to Average Net AssetsE, I              |                                 |                        
|Expenses before reductions                    | .86%A                           | .80%                   
|Expenses net of fee waivers, if any           | .86%A                           | .80%                   
|Expenses net of all reductions                | .85%A                           | .79%                   
|Net investment income (loss)                  | 1.01%A                          | 1.83%G                 
|Supplemental Data                             |                                 |                        
|Net assets, end of period (000 omitted)       | $	39,986                        | $	35,125               
|Portfolio turnover rate F                     | 73%A, K                         | 57%                    

|AAnnualizedBTotal returns for periods of less than one year are not annualized.CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.DCalculated based on average shares outstanding during the period.EFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.FAmount does not include the portfolio activity of any underlying Fidelity Central Funds.GInvestment income per share reflects a large, non-recurring dividend which amounted to $.21 per share. Excluding this non-recurring dividend, the ratio of net investment income (loss) to average net assets would have been 1.28%.HFor the period August 13, 2013 (commencement of sale of shares) to October 31, 2013.IExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.JAmount represents less than $.01 per share.KPortfolio turnover rate excludes securities received or delivered in-kind.
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

---

# Notes to Financial Statements

For the period ended April 30, 2015 (Unaudited)

(Amounts in thousands except percentages)

1. Organization.

Fidelity® International Discovery Fund (the Fund) is a fund of Fidelity Investment Trust (the Trust) and is authorized to issue an unlimited number of shares. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Massachusetts business trust. The Fund offers Class A, Class T, Class C, International Discovery, Class K, Institutional Class and Class Z shares, each of which, along with Class B shares, has equal rights as to assets and voting privileges. Class B shares are closed to new accounts and additional purchases, except for exchanges and reinvestments. Each class has exclusive voting rights with respect to matters that affect that class. Class B shares will automatically convert to Class A shares after a holding period of seven years from the initial date of purchase.

2. Investments in Fidelity Central Funds.

The Fund invests in Fidelity Central Funds, which are open-end investment companies generally available only to other investment companies and accounts managed by the investment adviser and its affiliates. The Fund's Schedule of Investments lists each of the Fidelity Central Funds held as of period end, if any, as an investment of the Fund, but does not include the underlying holdings of each Fidelity Central Fund. As an Investing Fund, the Fund indirectly bears its proportionate share of the expenses of the underlying Fidelity Central Funds.

The Money Market Central Funds seek preservation of capital and current income and are managed by Fidelity Investments Money Management, Inc. (FIMM), an affiliate of the investment adviser. Annualized expenses of the Money Market Central Funds as of their most recent shareholder report date are less than .01%.

A complete unaudited list of holdings for each Fidelity Central Fund is available upon request or at the Securities and Exchange Commission (the SEC) website at www.sec.gov. In addition, the financial statements of the Fidelity Central Funds are available on the SEC website or upon request.

3. Significant Accounting Policies.

The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP), which require management to make certain estimates and assumptions at the date of the financial statements. Actual results could differ from those estimates. Subsequent events, if any, through the date that the financial statements were issued have been evaluated in the preparation of

Semiannual Report

Notes to Financial Statements (Unaudited) - continued

(Amounts in thousands except percentages)

3. Significant Accounting Policies - continued

the financial statements. The following summarizes the significant accounting policies of the Fund:

Investment Valuation.Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. The Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fidelity Management & Research Company (FMR) Fair Value Committee (the Committee). In accordance with valuation policies and procedures approved by the Board, the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events, changes in interest rates and credit quality. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund's valuation policies and procedures and reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee.

The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels as shown below:

Level 1 - quoted prices in active markets for identical investments

Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, etc.)

Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available)

Valuation techniques used to value the Fund's investments by major category are as follows:

Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing vendor on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs),

Semiannual Report

3. Significant Accounting Policies - continued

Investment Valuation - continued

futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. Utilizing these techniques may result in transfers between Level 1 and Level 2. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy.

Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing vendors or from brokers who make markets in such securities. Preferred securities and U.S. government and government agency obligations are valued by pricing vendors who utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type or by broker-supplied prices. When independent prices are unavailable or unreliable, debt securities may be valued utilizing pricing methodologies which consider similar factors that would be used by third party pricing vendors. Debt securities are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances.

Futures contracts are valued at the settlement price established each day by the board of trade or exchange on which they are traded and are categorized as Level 1 in the hierarchy. Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy.

Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. The aggregate value of investments by input level, as of April 30, 2015, including information on transfers between Levels 1 and 2 is included at the end of the Fund's Schedule of Investments.

Foreign Currency.The Fund may use foreign currency contracts to facilitate transactions in foreign-denominated securities. Gains and losses from these transactions may arise from changes in the value of the foreign currency or if the counterparties do not perform under the contracts' terms.

Foreign-denominated assets, including investment securities, and liabilities are translated into U.S. dollars at the exchange rates at period end. Purchases and sales of investment securities, income and dividends received and expenses denominated in foreign currencies are translated into U.S. dollars at the exchange rate in effect on the transaction date.

Semiannual Report

Notes to Financial Statements (Unaudited) - continued

(Amounts in thousands except percentages)

3. Significant Accounting Policies - continued

Foreign Currency - continued

The effects of exchange rate fluctuations on investments are included with the net realized and unrealized gain (loss) on investment securities. Other foreign currency transactions resulting in realized and unrealized gain (loss) are disclosed separately.

Investment Transactions and Income.For financial reporting purposes, the Fund's investment holdings and NAV include trades executed through the end of the last business day of the period. The NAV per share for processing shareholder transactions is calculated as of the close of business of the New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time and includes trades executed through the end of the prior business day. Gains and losses on securities sold are determined on the basis of identified cost and may include proceeds received from litigation. Dividend income is recorded on the ex-dividend date, except for certain dividends from foreign securities where the ex-dividend date may have passed, which are recorded as soon as the Fund is informed of the ex-dividend date. Non-cash dividends included in dividend income, if any, are recorded at the fair market value of the securities received. Income and capital gain distributions from Fidelity Central Funds, if any, are recorded on the ex-dividend date. Distributions received on securities that represent a return of capital or capital gain are recorded as a reduction of cost of investments and/or as a realized gain. Subsequent to ex-dividend date the Fund determines the components of these distributions, based upon receipt of tax filings or other correspondence relating to the underlying investment. Interest income is accrued as earned and includes coupon interest and amortization of premium and accretion of discount on debt securities as applicable. Investment income is recorded net of foreign taxes withheld where recovery of such taxes is uncertain.

Class Allocations andExpenses. Investment income, realized and unrealized capital gains and losses, common expenses of the Fund, and certain fund-level expense reductions, if any, are allocated daily on a pro-rata basis to each class based on the relative net assets of each class to the total net assets of the Fund. Each class differs with respect to transfer agent and distribution and service plan fees incurred. Certain expense reductions may also differ by class. For the reporting period, the allocated portion of income and expenses to each class as a percent of its average net assets may vary due to the timing of recording these transactions in relation to fluctuating net assets of the classes. Expenses directly attributable to a fund are charged to that fund. Expenses attributable to more than one fund are allocated among the respective funds on the basis of relative net assets or other appropriate methods. Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.

Semiannual Report

3. Significant Accounting Policies - continued

DeferredTrustee Compensation. Under a Deferred Compensation Plan (the Plan), independent Trustees may elect to defer receipt of a portion of their annual compensation. Deferred amounts are invested in a cross-section of Fidelity funds, are marked-to-market and remain in the Fund until distributed in accordance with the Plan. The investment of deferred amounts and the offsetting payable to the Trustees are included in the accompanying Statement of Assets and Liabilities.

Income Tax Information and Distributions to Shareholders. Each year, the Fund intends to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code, including distributing substantially all of its taxable income and realized gains. As a result, no provision for U.S. Federal income taxes is required. The Fund files a U.S. federal tax return, in addition to state and local tax returns as required. The Fund's federal income tax returns are subject to examination by the Internal Revenue Service (IRS) for a period of three fiscal years after they are filed. State and local tax returns may be subject to examination for an additional fiscal year depending on the jurisdiction. Foreign taxes are provided for based on the Fund's understanding of the tax rules and rates that exist in the foreign markets in which it invests. The Fund is subject to a tax imposed on capital gains by certain countries in which it invests. An estimated deferred tax liability for net unrealized appreciation on the applicable securities is included in Other payables and accrued expenses on the Statement of Assets & Liabilities.

Distributions are declared and recorded on the ex-dividend date. Income dividends and capital gain distributions are declared separately for each class. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP.

Capital accounts within the financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations. Capital accounts are not adjusted for temporary book-tax differences which will reverse in a subsequent period.

Book-tax differences are primarily due to futures contracts, foreign currency transactions, passive foreign investment companies (PFIC), market discount, deferred trustees compensation, capital loss carryforwards and losses deferred due to wash sales.

The federal tax cost of investment securities and unrealized appreciation (depreciation) as of period end were as follows:

|Gross unrealized appreciation                            | $	2,018,808
|-------------------------------------------------------- | -----------
|Gross unrealized depreciation                            | (238,932)  
|Net unrealized appreciation (depreciation) on securities | $	1,779,876
|                                                         |            
|Tax cost                                                 | $	9,718,007

Semiannual Report

Notes to Financial Statements (Unaudited) - continued

(Amounts in thousands except percentages)

3. Significant Accounting Policies - continued

Income Tax Information and Distributions to Shareholders - continued

Capital loss carryforwards are only available to offset future capital gains of the Fund to the extent provided by regulations and may be limited. Under the Regulated Investment Company Modernization Act of 2010 (the Act), the Fund is permitted to carry forward capital losses incurred in taxable years beginning after December 22, 2010 for an unlimited period and such capital losses are required to be used prior to any losses that expire. The capital loss carryforward information presented below, including any applicable limitation, is estimated as of prior fiscal period end and is subject to adjustment.

|Fiscal year of expiration |            
|------------------------- | -----------
|2017                      | $	(227,245)

Short-Term Trading (Redemption) Fees. Shares held by investors in the Fund less than 30 days may have been subject to a redemption fee equal to 1.00% of the NAV of shares redeemed. All redemption fees, which reduce the proceeds of the shareholder redemption, are retained by the Fund and accounted for as an addition to paid in capital.

Restricted Securities. The Fund may invest in securities that are subject to legal or contractual restrictions on resale. These securities generally may be resold in transactions exempt from registration or to the public if the securities are registered. Disposal of these securities may involve time-consuming negotiations and expense, and prompt sale at an acceptable price may be difficult. Information regarding restricted securities is included at the end of the Fund's Schedule of Investments.

New Accounting Pronouncement.In June 2014, the Financial Accounting Standards Board issued Accounting Standard Update No. 2014-11, Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures (the Update). The Update amends the accounting for certain repurchase agreements and expands disclosure requirements for reverse repurchase agreements, securities lending and other similar transactions. The disclosure requirements are effective for annual and interim reporting periods beginning after December 15, 2014. Management is currently evaluating the impact of the Update on the Fund's financial statements and related disclosures.

4. Derivative Instruments.

Risk Exposures and the Use of Derivative Instruments. The Fund's investment objective allows the Fund to enter into various types of derivative contracts, including futures contracts. Derivatives are investments whose value is primarily derived from underlying assets, indices or reference rates and may be transacted on an exchange or over-the-counter (OTC). Derivatives may involve a future commitment to buy or sell a specified asset based on specified terms, to exchange future cash flows at periodic

Semiannual Report

4. Derivative Instruments - continued

Risk Exposures and the Use of Derivative Instruments - continued

intervals based on a notional principal amount, or for one party to make one or more payments upon the occurrence of specified events in exchange for periodic payments from the other party.

The Fund used derivatives to increase returns and to manage exposure to certain risks as defined below. The success of any strategy involving derivatives depends on analysis of numerous economic factors, and if the strategies for investment do not work as intended, the Fund may not achieve its objectives.

The Fund's use of derivatives increased or decreased its exposure to the following risk:

|Equity Risk | Equity risk relates to the fluctuations in the value of financial instruments as a result of changes in market prices (other than those arising from interest rate risk or foreign exchange risk), whether caused by factors specific to an individual investment, its issuer, or all factors affecting all instruments traded in a market or market segment.
|----------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

The Fund is also exposed to additional risks from investing in derivatives, such as liquidity risk and counterparty credit risk. Liquidity risk is the risk that the Fund will be unable to close out the derivative in the open market in a timely manner. Counterparty credit risk is the risk that the counterparty will not be able to fulfill its obligation to the Fund. Counterparty credit risk related to exchange-traded futures contracts may be mitigated by the protection provided by the exchange on which they trade.

Investing in derivatives may involve greater risks than investing in the underlying assets directly and, to varying degrees, may involve risk of loss in excess of any initial investment and collateral received and amounts recognized in the Statement of Assets and Liabilities. In addition, there may be the risk that the change in value of the derivative contract does not correspond to the change in value of the underlying instrument.

Futures Contracts.A futures contract is an agreement between two parties to buy or sell a specified underlying instrument for a fixed price at a specified future date. The Fund used futures contracts to manage its exposure to the stock market.

Upon entering into a futures contract, a fund is required to deposit either cash or securities (initial margin) with a clearing broker in an amount equal to a certain percentage of the face value of the contract. Futures contracts are marked-to-market daily and subsequent daily payments (variation margin) are made or received by a fund depending on the daily fluctuations in the value of the futures contracts and are recorded as unrealized appreciation or (depreciation). This receivable and/or payable, if any, is included in daily variation margin for derivative instruments in the Statement of Assets and Liabilities. Realized gain or (loss) is recorded upon the expiration or closing of a futures contract.

Semiannual Report

Notes to Financial Statements (Unaudited) - continued

(Amounts in thousands except percentages)

4. Derivative Instruments - continued

Futures Contracts - continued

Any open futures contracts at period end are presented in the Schedule of Investments under the caption "Futures Contracts." The underlying face amount at value reflects each contract's exposure to the underlying instrument or index at period end.

During the period the Fund recognized net realized gain (loss) of $42,556 and a change in net unrealized appreciation (depreciation) of $(18,692) related to its investment in futures contracts. These amounts are included in the Statement of Operations.

5. Purchases and Sales of Investments.

Purchases and sales of securities, other than short-term securities and in-kind transactions, aggregated $3,937,889 and $3,850,750, respectively.

Redemptions In-Kind. During the period, 2,460 shares of the Fund held by unaffiliated entities were redeemed for cash and investments, including accrued interest with a value of $92,600. The net realized gain of $15,499 on investments delivered through in-kind redemptions is included in the accompanying Statement of Operations. The amount of in-kind redemptions is included in share transactions in the accompanying Statement of Changes in Net Assets as well as Note 11: Share Transactions. The Fund recognized no gain or loss for federal income tax purposes.

6. Fees and Other Transactions with Affiliates.

Management Fee. Fidelity Management & Research Company (the investment adviser) and its affiliates provide the Fund with investment management related services for which the Fund pays a monthly management fee. The management fee is the sum of an individual fund fee rate that is based on an annual rate of .424% of the Fund's average net assets and an annualized group fee rate that averaged .25% during the period. The group fee rate is based upon the average net assets of all the mutual funds advised by the investment adviser, including any mutual funds previously advised by the investment adviser that are currently advised by Fidelity SelectCo, LLC, an affiliate of the investment adviser. The group fee rate decreases as assets under management increase and increases as assets under management decrease. In addition, the management fee is subject to a performance adjustment (up to a maximum of ± .20% of the Fund's average net assets over a 36 month performance period). The upward or downward adjustment to the management fee is based on the relative investment performance of International Discovery as compared to its benchmark index, the MSCI EAFE Index, over the same 36 month performance period. For the reporting period, the total annualized management fee rate, including the performance adjustment, was .77% of the Fund's average net assets. The performance adjustment included in the management fee rate may be higher

Semiannual Report

6. Fees and Other Transactions with Affiliates - continued

Management Fee - continued

or lower than the maximum performance adjustment rate due to the difference between the average net assets for the reporting and performance periods.

Distribution and Service Plan Fees. In accordance with Rule 12b-1 of the 1940 Act, the Fund has adopted separate Distribution and Service Plans for each class of shares. Certain classes pay Fidelity Distributors Corporation (FDC), an affiliate of the investment adviser, separate Distribution and Service Fees, each of which is based on an annual percentage of each class' average net assets. In addition, FDC may pay financial intermediaries for selling shares of the Fund and providing shareholder support services. For the period, the Distribution and Service Fee rates, total fees and amounts retained by FDC were as follows:

|        | Distribution
Fee | Service
Fee | Total Fees | Retained
by FDC
|------- | ---------------- | ----------- | ---------- | ---------------
|Class A | -%               | .25%        | $	366      | $	7            
|Class T | .25%             | .25%        | 116        | 2              
|Class B | .75%             | .25%        | 20         | 15             
|Class C | .75%             | .25%        | 175        | 20             
|        |                  |             | $	677      | $	44           

Sales Load. FDC may receive a front-end sales charge of up to 5.75% for selling Class A shares and 3.50% for selling Class T shares, some of which is paid to financial intermediaries for selling shares of the Fund. Depending on the holding period, FDC may receive contingent deferred sales charges levied on Class A, Class T, Class B, and Class C redemptions. The deferred sales charges range from 5.00% to 1.00% for Class B shares, 1.00% for Class C shares, 1.00% for certain purchases of Class A shares and .25% for certain purchases of Class T shares.

For the period, sales charge amounts retained by FDC were as follows:

|         | Retained
by FDC
|-------- | ---------------
|Class A  | $	28           
|Class T  | 4              
|Class B* | 1              
|Class C* | 2              
|         | $	35           

*When Class B and Class C shares are initially sold, FDC pays commissions from its own resources to financial intermediaries through which the sales 	are made.

Transfer Agent Fees.Fidelity Investments Institutional Operations Company, Inc., (FIIOC), an affiliate of the investment adviser, is the transfer, dividend disbursing and

Semiannual Report

Notes to Financial Statements (Unaudited) - continued

(Amounts in thousands except percentages)

6. Fees and Other Transactions with Affiliates - continued

Transfer Agent Fees - continued

shareholder servicing agent for each class of the Fund. FIIOC receives account fees and asset-based fees that vary according to the account size and type of account of the shareholders of the respective classes of the Fund, except for Class K and Class Z. FIIOC receives an asset-based fee of Class K's and Class Z's average net assets. FIIOC pays for typesetting, printing and mailing of shareholder reports, except proxy statements.

For the period, transfer agent fees for each class were as follows:

|                        | Amount  | % of
Class-Level Average
Net Assets*
|----------------------- | ------- | ------------------------------------
|Class A                 | $	395   | .27                                 
|Class T                 | 60      | .26                                 
|Class B                 | 6       | .30                                 
|Class C                 | 47      | .27                                 
|International Discovery | 6,558   | .18                                 
|Class K                 | 578     | .05                                 
|Institutional Class     | 722     | .19                                 
|Class Z                 | 8       | .05                                 
|                        | $	8,374 |                                     

*Annualized

Accounting and Security Lending Fees.Fidelity Service Company, Inc. (FSC), an affiliate of the investment adviser, maintains the Fund's accounting records. The accounting fee is based on the level of average net assets for each month. Under a separate contract, FSC administers the security lending program. The security lending fee is based on the number and duration of lending transactions.

Brokerage Commissions.The Fund placed a portion of its portfolio transactions with brokerage firms which are affiliates of the investment adviser. Brokerage commissions are included in net realized gain (loss) and change in net unrealized appreciation (depreciation) in the Statement of Operations. The commissions paid to these affiliated firms were $5 for the period.

7. Committed Line of Credit.

The Fund participates with other funds managed by the investment adviser or an affiliate in a $4.25 billion credit facility (the "line of credit") to be utilized for temporary or emergency purposes to fund shareholder redemptions or for other short-term liquidity purposes. The Fund has agreed to pay commitment fees on its pro-rata portion of the line of credit, which amounted to $9 and is reflected in Miscellaneous expenses on the

Semiannual Report

7. Committed Line of Credit - continued

Statement of Operations. During the period, the Fund did not borrow on this line of credit.

8. Security Lending.

The Fund lends portfolio securities through a lending agent from time to time in order to earn additional income. For equity securities, a lending agent is used and may loan securities to certain qualified borrowers, including Fidelity Capital Markets (FCM), a broker-dealer affiliated with the Fund. On the settlement date of the loan, the Fund receives collateral (in the form of U.S. Treasury obligations, letters of credit and/or cash) against the loaned securities and maintains collateral in an amount not less than 100% of the market value of the loaned securities during the period of the loan. The market value of the loaned securities is determined at the close of business of the Fund and any additional required collateral is delivered to the Fund on the next business day. If the borrower defaults on its obligation to return the securities loaned because of insolvency or other reasons, the Fund may apply collateral received from the borrower against the obligation. The Fund may experience delays and costs in recovering the securities loaned. Any cash collateral received is invested in the Fidelity Securities Lending Cash Central Fund. The value of loaned securities and cash collateral at period end are disclosed on the Fund's Statement of Assets and Liabilities. Security lending income represents the income earned on investing cash collateral, less rebates paid to borrowers and any lending agent fees associated with the loan, plus any premium payments received for lending certain types of securities. Security lending income is presented in the Statement of Operations as a component of income from Fidelity Central Funds. Total security lending income during the period amounted to $1,811. During the period, there were no securities loaned to FCM.

9. Expense Reductions.

Commissions paid to certain brokers with whom the investment adviser, or its affiliates, places trades on behalf of the Fund include an amount in addition to trade execution, which may be rebated back to the Fund to offset certain expenses. This amount totaled $155 for the period.

In addition, the investment adviser reimbursed a portion of the Fund's operating expenses, including certain International Discovery expenses during the period in the amount of $5.

Semiannual Report

Notes to Financial Statements (Unaudited) - continued

(Amounts in thousands except percentages)

10. Distributions to Shareholders.

Distributions to shareholders of each class were as follows:

|                           | Six months ended
April 30,
2015 | Year ended
October 31,
2014
|-------------------------- | ------------------------------- | ---------------------------
|From net investment income |                                 |                            
|Class A                    | $	864                           | $	2,857                    
|Class T                    | 23                              | 344                        
|Class B                    | -                               | 2                          
|Class C                    | -                               | 79                         
|International Discovery    | 49,040                          | 93,065                     
|Class K                    | 19,835                          | 33,983                     
|Institutional Class        | 4,544                           | 5,936                      
|Class Z                    | 283                             | 60                         
|Total                      | $	74,589                        | $	136,326                  
|From net realized gain     |                                 |                            
|Class A                    | $	-                             | $	2,660                    
|Class T                    | -                               | 423                        
|Class B                    | -                               | 52                         
|Class C                    | -                               | 295                        
|International Discovery    | -                               | 61,190                     
|Class K                    | -                               | 20,093                     
|Institutional Class        | -                               | 3,838                      
|Class Z                    | -                               | 35                         
|Total                      | $	-                             | $	88,586                   

11. Share Transactions.

Share transactions for each class were as follows and may contain automatic conversions between classes or exchanges between funds:

|                              | Shares                          | Dollars                    
|----------------------------- | ------------------------------- | ---------------------------
|                              | Six months ended April 30,
2015 | Year ended
October 31,
2014
|Class A                       |                                 |                            
|Shares sold                   | 692                             | 1,382                      
|Reinvestment of distributions | 22                              | 137                        
|Shares redeemed               | (1,000)                         | (2,632)                    
|Net increase (decrease)       | (286)                           | (1,113)                    
|Class T                       |                                 |                            
|Shares sold                   | 96                              | 200                        
|Reinvestment of distributions | 1                               | 19                         
|Shares redeemed               | (215)                           | (311)                      
|Net increase (decrease)       | (118)                           | (92)                       

Semiannual Report

11. Share Transactions - continued

|                              | Shares                          | Dollars                    
|----------------------------- | ------------------------------- | ---------------------------
|                              | Six months ended April 30,
2015 | Year ended
October 31,
2014
|Class B                       |                                 |                            
|Shares sold                   | 1                               | 6                          
|Reinvestment of distributions | -                               | 1                          
|Shares redeemed               | (38)                            | (58)                       
|Net increase (decrease)       | (37)                            | (51)                       
|Class C                       |                                 |                            
|Shares sold                   | 104                             | 232                        
|Reinvestment of distributions | -                               | 9                          
|Shares redeemed               | (119)                           | (250)                      
|Net increase (decrease)       | (15)                            | (9)                        
|International Discovery       |                                 |                            
|Shares sold                   | 10,812                          | 28,809                     
|Reinvestment of distributions | 1,199                           | 3,813                      
|Shares redeemed               | (22,134)                        | (37,231)                   
|Net increase (decrease)       | (10,123)                        | (4,609)                    
|Class K                       |                                 |                            
|Shares sold                   | 8,328                           | 15,775                     
|Reinvestment of distributions | 508                             | 1,396                      
|Shares redeemed               | (10,794)A                       | (18,729)                   
|Net increase (decrease)       | (1,958)                         | (1,558)                    
|Institutional Class           |                                 |                            
|Shares sold                   | 7,532                           | 10,468                     
|Reinvestment of distributions | 33                              | 91                         
|Shares redeemed               | (2,496)                         | (5,852)                    
|Net increase (decrease)       | 5,069                           | 4,707                      
|Class Z                       |                                 |                            
|Shares sold                   | 153                             | 993                        
|Reinvestment of distributions | 7                               | 2                          
|Shares redeemed               | (95)                            | (96)                       
|Net increase (decrease)       | 65                              | 899                        

AAmount includes in-kind redemptions (see Note 5: Redemptions In-Kind).

Semiannual Report

Notes to Financial Statements (Unaudited) - continued

(Amounts in thousands except percentages)

12. Other.

The Fund's organizational documents provide former and current trustees and officers with a limited indemnification against liabilities arising in connection with the performance of their duties to the Fund. In the normal course of business, the Fund may also enter into contracts that provide general indemnifications. The Fund's maximum exposure under these arrangements is unknown as this would be dependent on future claims that may be made against the Fund. The risk of material loss from such claims is considered remote.

At the end of the period, Strategic Advisers International Fund was the owner of record of approximately 13% of the total outstanding shares of the Fund.

Semiannual Report

Investment Adviser

Fidelity Management & Research Company
Boston, MA

Investment Sub-Advisers

FMR Co., Inc.

FMR Investment Management 
(U.K.) Limited

FIL Investment Advisors

FIL Investments (Japan) Limited

FIL Investment Advisors (UK) Limited

Fidelity Management & Research
(Hong Kong) Limited

Fidelity Management & Research
(Japan) Limited

General Distributor

Fidelity Distributors Corporation

Smithfield, RI

Transfer and Service Agents

Fidelity Investments Institutional Operations Company, Inc.

Boston, MA

Fidelity Service Company, Inc.

Boston, MA

Custodian

The Northern Trust Company

Chicago, IL



(Fidelity Investment logo)(registered trademark)

`AIDZ-USAN-0615
1.9585033.101`

Fidelity®

International Discovery

Fund

Semiannual Report

April 30, 2015(Fidelity Cover Art)

---

# Contents

|Shareholder Expense Example | (Click Here) | An example of shareholder expenses.                                                                          
|--------------------------- | ------------ | -------------------------------------------------------------------------------------------------------------
|Investment Changes          | (Click Here) | A summary of major shifts in the fund's investments over the past six months.                                
|Investments                 | (Click Here) | A complete list of the fund's investments with their market values.                                          
|Financial Statements        | (Click Here) | Statements of assets and liabilities, operations, and changes in net assets, as well as financial highlights.
|Notes                       | (Click Here) | Notes to the financial statements.                                                                           

To view a fund's proxy voting guidelines and proxy voting record for the 12-month period ended June 30, visit http://www.fidelity.com/proxyvotingresults or visit the Securities and Exchange Commission's (SEC) web site at http://www.sec.gov. You may also call 1-800-544-8544 to request a free copy of the proxy voting guidelines.

Standard & Poor's, S&P and S&P 500 are registered service marks of The McGraw-Hill Companies, Inc. and have been licensed for use by Fidelity Distributors Corporation.

Other third-party marks appearing herein are the property of their respective owners.

All other marks appearing herein are registered or unregistered trademarks or service marks of FMR LLC or an affiliated company. © 2015 FMR LLC. All rights reserved.



This report and the financial statements contained herein are submitted for the general information of the shareholders of the fund. This report is not authorized for distribution to prospective investors in the fund unless preceded or accompanied by an effective prospectus.

A fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-Q. Forms N-Q are available on the SEC's web site at http://www.sec.gov.A fund's Forms N-Q may be reviewed and copied at the SEC's Public Reference Room in Washington, DC. Information regarding the operation of the SEC's Public Reference Room may be obtained by calling 1-800-SEC-0330. For a complete list of a fund's portfolio holdings, view the most recent holdings listing, semiannual report, or annual report on Fidelity's web site at http://www.fidelity.com, http://www.advisor.fidelity.com, or http://www.401k.com, as applicable.

NOT FDIC INSURED • MAY LOSE VALUE • NO BANK GUARANTEE

Neither the fund nor Fidelity Distributors Corporation is a bank.

Semiannual Report

---

# Shareholder Expense Example

As a shareholder of the Fund, you incur two types of costs: (1) transaction costs, including sales charges (loads) on purchase payments or redemption proceeds, redemption fees and (2) ongoing costs, including management fees, distribution and/or service (12b-1) fees and other Fund expenses. This Example is intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds.

The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (November 1, 2014 to April 30, 2015).

Actual Expenses

The first line of the accompanying table for each class of the Fund provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000.00 (for example, an $8,600 account value divided by $1,000.00 = 8.6), then multiply the result by the number in the first line for a class of the Fund under the heading entitled "Expenses Paid During Period" to estimate the expenses you paid on your account during this period. A small balance maintenance fee of $12.00 that is charged once a year may apply for certain accounts with a value of less than $2,000. This fee is not included in the table below. If it was, the estimate of expenses you paid during the period would be higher, and your ending account value lower, by this amount. In addition, the Fund, as a shareholder in the underlying Fidelity Central Funds, will indirectly bear its pro-rata share of the fees and expenses incurred by the underlying Fidelity Central Funds. These fees and expenses are not included in the Fund's annualized expense ratio used to calculate the expense estimate in the table below.

Hypothetical Example for Comparison Purposes

The second line of the accompanying table for each class of the Fund provides information about hypothetical account values and hypothetical expenses based on a Class' actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Class' actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds. A small balance maintenance fee of $12.00 that is charged once a year may apply for certain accounts with a value of less than $2,000. This fee is not included in the table below. If it was, the estimate of expenses you paid during the period would be higher, and your ending account value lower, by this amount. In addition, the Fund, as a shareholder in the underlying Fidelity Central Funds, will indirectly bear its pro-rata share of the fees and expenses incurred by the underlying Fidelity Central Funds. These fees and expenses are not included in the Fund's annualized expense ratio used to calculate the expense estimate in the table below.

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transaction costs. Therefore, the second line of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.

Semiannual Report

Shareholder Expense Example - continued

|                        | Annualized
Expense RatioB | Beginning
Account Value
November 1, 2014 | Ending
Account Value
April 30, 2015 | Expenses Paid
During Period*November 1, 2014
to April 30, 2015
|----------------------- | ------------------------- | ---------------------------------------- | ----------------------------------- | --------------------------------------------------------------
|Class A                 | 1.33%                     |                                          |                                     |                                                               
|Actual                  |                           | $	1,000.00                               | $	1,067.40                          | $	6.82                                                        
|HypotheticalA           |                           | $	1,000.00                               | $	1,018.20                          | $	6.66                                                        
|Class T                 | 1.57%                     |                                          |                                     |                                                               
|Actual                  |                           | $	1,000.00                               | $	1,066.10                          | $	8.04                                                        
|HypotheticalA           |                           | $	1,000.00                               | $	1,017.01                          | $	7.85                                                        
|Class B                 | 2.11%                     |                                          |                                     |                                                               
|Actual                  |                           | $	1,000.00                               | $	1,063.40                          | $	10.79                                                       
|HypotheticalA           |                           | $	1,000.00                               | $	1,014.33                          | $	10.54                                                       
|Class C                 | 2.08%                     |                                          |                                     |                                                               
|Actual                  |                           | $	1,000.00                               | $	1,063.50                          | $	10.64                                                       
|HypotheticalA           |                           | $	1,000.00                               | $	1,014.48                          | $	10.39                                                       
|International Discovery | .99%                      |                                          |                                     |                                                               
|Actual                  |                           | $	1,000.00                               | $	1,069.20                          | $	5.08                                                        
|HypotheticalA           |                           | $	1,000.00                               | $	1,019.89                          | $	4.96                                                        
|Class K                 | .86%                      |                                          |                                     |                                                               
|Actual                  |                           | $	1,000.00                               | $	1,070.30                          | $	4.41                                                        
|HypotheticalA           |                           | $	1,000.00                               | $	1,020.53                          | $	4.31                                                        
|Institutional Class     | 1.00%                     |                                          |                                     |                                                               
|Actual                  |                           | $	1,000.00                               | $	1,069.30                          | $	5.13                                                        
|HypotheticalA           |                           | $	1,000.00                               | $	1,019.84                          | $	5.01                                                        
|Class Z                 | .86%                      |                                          |                                     |                                                               
|Actual                  |                           | $	1,000.00                               | $	1,070.00                          | $	4.41                                                        
|HypotheticalA           |                           | $	1,000.00                               | $	1,020.53                          | $	4.31                                                        

A5% return per year before expenses

BAnnualized expense ratio reflects expenses net of applicable fee waivers.

*Expenses are equal to each Class' annualized expense ratio, multiplied by the average account value over the period, multiplied by 181/365 (to reflect the one-half year period).

Semiannual Report

---

# Investment Changes (Unaudited)

|Geographic Diversification (% of fund's net assets)
|---------------------------------------------------
|As of April 30, 2015                               
|int1097                                            
|int1099                                            
|int1101                                            
|int1103                                            
|int1105                                            
|int1107                                            
|int1109                                            
|int1111                                            
|int1113                                            
|int1115                                            

int1117

|*Includes Short-Term Investments and Net Other Assets (Liabilities).                                                               
|-----------------------------------------------------------------------------------------------------------------------------------
|Percentages are based on country or territory of incorporation and are adjusted for the effect of futures contracts, if applicable.

|As of October 31, 2014
|----------------------
|int1119               
|int1121               
|int1123               
|int1125               
|int1127               
|int1129               
|int1131               
|int1133               
|int1135               
|int1137               

int1139

|*Includes Short-Term Investments and Net Other Assets (Liabilities).                                                               
|-----------------------------------------------------------------------------------------------------------------------------------
|Percentages are based on country or territory of incorporation and are adjusted for the effect of futures contracts, if applicable.

|Asset Allocation as of April 30, 2015                                        
|-----------------------------------------------------------------------------
|                                                                             
|Stocks and Equity Futures                                                    
|Other Investments                                                            
|Short-Term Investments and Net Other Assets (Liabilities)                    
|Top Ten Stocks as of April 30, 2015                                          
|                                                                             
|Total SA (France, Oil, Gas & Consumable Fuels)                               
|Novartis AG (Switzerland, Pharmaceuticals)                                   
|Anheuser-Busch InBev SA NV (Belgium, Beverages)                              
|Unilever NV (Certificaten Van Aandelen) (Bearer) (Netherlands, Food Products)
|AIA Group Ltd. (Hong Kong, Insurance)                                        
|Techtronic Industries Co. Ltd. (Hong Kong, Household Durables)               
|Shire PLC (Bailiwick of Jersey, Pharmaceuticals)                             
|Housing Development Finance Corp. Ltd. (India, Thrifts & Mortgage Finance)   
|Astellas Pharma, Inc. (Japan, Pharmaceuticals)                               
|Australia & New Zealand Banking Group Ltd. (Australia, Banks)                
|                                                                             
|Market Sectors as of April 30, 2015                                          
|                                                                             
|Financials                                                                   
|Consumer Discretionary                                                       
|Health Care                                                                  
|Industrials                                                                  
|Information Technology                                                       
|Consumer Staples                                                             
|Energy                                                                       
|Telecommunication Services                                                   
|Materials                                                                    
|Utilities                                                                    

Semiannual Report

---

# Investments April 30, 2015 (Unaudited)

Showing Percentage of Net Assets

|Common Stocks - 96.1%                                
|-----------------------------------------------------
|                                                     
|Australia - 2.8%                                     
|Ansell Ltd.                                          
|Australia & New Zealand Banking Group Ltd.           
|Flight Centre Travel Group Ltd. (e)                  
|G8 Education Ltd.                                    
|Greencross Ltd.                                      
|Mantra Group Ltd.                                    
|Ramsay Health Care Ltd.                              
|Spotless Group Holdings Ltd.                         
|TOTAL AUSTRALIA                                      
|Austria - 0.2%                                       
|Andritz AG                                           
|Bailiwick of Jersey - 2.2%                           
|MySale Group PLC (f)                                 
|Regus PLC                                            
|Shire PLC                                            
|Wolseley PLC                                         
|TOTAL BAILIWICK OF JERSEY                            
|Belgium - 2.7%                                       
|Anheuser-Busch InBev SA NV                           
|KBC Groep NV                                         
|TOTAL BELGIUM                                        
|Bermuda - 1.3%                                       
|BW Offshore Ltd.                                     
|Haier Electronics Group Co. Ltd.                     
|PAX Global Technology Ltd. (a)(f)                    
|Travelport Worldwide Ltd. (e)                        
|TOTAL BERMUDA                                        
|Canada - 2.5%                                        
|Alimentation Couche-Tard, Inc. Class B (sub. vtg.)   
|Constellation Software, Inc.                         
|Constellation Software, Inc. rights 9/15/15 (a)      
|Imperial Oil Ltd.                                    
|Potash Corp. of Saskatchewan, Inc.                   
|PrairieSky Royalty Ltd. (e)                          
|Suncor Energy, Inc.                                  
|TransForce, Inc.                                     
|TOTAL CANADA                                         
|Common Stocks - continued                            
|                                                     
|Cayman Islands - 0.8%                                
|Alibaba Group Holding Ltd. sponsored ADR             
|Lee's Pharmaceutical Holdings Ltd.                   
|Value Partners Group Ltd.                            
|WuXi PharmaTech Cayman, Inc. sponsored ADR (a)       
|TOTAL CAYMAN ISLANDS                                 
|China - 1.0%                                         
|Daqin Railway Co. Ltd. (A Shares)                    
|Inner Mongoli Yili Industries Co. Ltd.               
|Jiangsu Hengrui Medicine Co. Ltd.                    
|Kweichow Moutai Co. Ltd.                             
|Yantai Changyu Pioneer Wine Co. Ltd. (B Shares)      
|TOTAL CHINA                                          
|Cyprus - 0.0%                                        
|SPDI Secure Property Development & Investment PLC (a)
|Denmark - 1.3%                                       
|Novo Nordisk A/S Series B                            
|Vestas Wind Systems A/S                              
|TOTAL DENMARK                                        
|Egypt - 0.0%                                         
|Edita Food Industries SAE GDR (a)(g)                 
|Finland - 0.7%                                       
|Sampo Oyj (A Shares)                                 
|France - 8.0%                                        
|Accor SA                                             
|Air Liquide SA                                       
|AXA SA                                               
|BNP Paribas SA                                       
|Cap Gemini SA                                        
|Havas SA                                             
|Ingenico SA                                          
|Numericable Group SA (a)                             
|Rexel SA                                             
|Safran SA                                            
|Schneider Electric SA (e)                            
|Sodexo SA (a)                                        
|SR Teleperformance SA                                
|Total SA                                             
|Common Stocks - continued                            
|                                                     
|France - continued                                   
|Unibail-Rodamco                                      
|Zodiac Aerospace                                     
|TOTAL FRANCE                                         
|Germany - 5.3%                                       
|Aareal Bank AG                                       
|Bayer AG                                             
|Beiersdorf AG                                        
|Continental AG (e)                                   
|Deutsche Annington Immobilien SE                     
|Deutsche Boerse AG                                   
|Deutsche Telekom AG                                  
|Fresenius SE & Co. KGaA                              
|GEA Group AG                                         
|KION Group AG                                        
|LEG Immobilien AG                                    
|ProSiebenSat.1 Media AG                              
|TOTAL GERMANY                                        
|Hong Kong - 2.7%                                     
|AIA Group Ltd.                                       
|Hutchison Whampoa Ltd.                               
|Techtronic Industries Co. Ltd.                       
|TOTAL HONG KONG                                      
|India - 3.6%                                         
|Bharti Infratel Ltd.                                 
|Edelweiss Financial Services Ltd.                    
|HDFC Bank Ltd. sponsored ADR                         
|Housing Development Finance Corp. Ltd.               
|Info Edge India Ltd.                                 
|Lupin Ltd.                                           
|Sun Pharmaceutical Industries Ltd. (a)               
|The Jammu & Kashmir Bank Ltd.                        
|Titan Co. Ltd. (a)                                   
|Yes Bank Ltd.                                        
|TOTAL INDIA                                          
|Indonesia - 0.4%                                     
|PT Bank Central Asia Tbk                             
|PT Bank Rakyat Indonesia Tbk                         
|TOTAL INDONESIA                                      
|Common Stocks - continued                            
|                                                     
|Ireland - 2.2%                                       
|Actavis PLC (a)                                      
|Bank of Ireland (a)                                  
|Glanbia PLC                                          
|James Hardie Industries PLC CDI                      
|Kerry Group PLC Class A                              
|TOTAL IRELAND                                        
|Isle of Man - 0.3%                                   
|Optimal Payments PLC (a)                             
|Optimal Payments PLC rights 5/1/15 (a)               
|Playtech Ltd.                                        
|TOTAL ISLE OF MAN                                    
|Israel - 0.8%                                        
|Frutarom Industries Ltd.                             
|Teva Pharmaceutical Industries Ltd. sponsored ADR    
|TOTAL ISRAEL                                         
|Italy - 2.5%                                         
|De Longhi SpA                                        
|Intesa Sanpaolo SpA                                  
|Mediaset SpA                                         
|Telecom Italia SpA (a)                               
|World Duty Free SpA (a)                              
|TOTAL ITALY                                          
|Japan - 15.3%                                        
|ACOM Co. Ltd. (a)                                    
|Aozora Bank Ltd.                                     
|Astellas Pharma, Inc.                                
|Coca-Cola Central Japan Co. Ltd.                     
|Dentsu, Inc.                                         
|Don Quijote Holdings Co. Ltd.                        
|Hitachi Ltd.                                         
|Hoya Corp.                                           
|Japan Exchange Group, Inc.                           
|Japan Tobacco, Inc.                                  
|KDDI Corp.                                           
|Keyence Corp.                                        
|Misumi Group, Inc.                                   
|Mitsubishi UFJ Financial Group, Inc.                 
|Monex Group, Inc.                                    
|NEC Corp.                                            
|Common Stocks - continued                            
|                                                     
|Japan - continued                                    
|Nidec Corp.                                          
|Olympus Corp. (a)                                    
|OMRON Corp.                                          
|ORIX Corp.                                           
|Rakuten, Inc.                                        
|Sanken Electric Co. Ltd.                             
|Seven Bank Ltd.                                      
|SoftBank Corp.                                       
|Sony Corp.                                           
|Sundrug Co. Ltd.                                     
|Toshiba Plant Systems & Services Corp.               
|Tsuruha Holdings, Inc.                               
|United Arrows Ltd.                                   
|VT Holdings Co. Ltd.                                 
|TOTAL JAPAN                                          
|Korea (South) - 0.3%                                 
|Samsung Electronics Co. Ltd.                         
|Luxembourg - 1.0%                                    
|Altice SA (a)                                        
|Eurofins Scientific SA                               
|Grand City Properties SA (a)                         
|TOTAL LUXEMBOURG                                     
|Marshall Islands - 0.1%                              
|Hoegh LNG Partners LP (f)                            
|Netherlands - 4.6%                                   
|AerCap Holdings NV (a)                               
|Arcadis NV                                           
|ASML Holding NV (Netherlands)                        
|IMCD Group BV                                        
|ING Groep NV (Certificaten Van Aandelen)             
|Mobileye NV (a)(e)                                   
|Unilever NV (Certificaten Van Aandelen) (Bearer)     
|TOTAL NETHERLANDS                                    
|New Zealand - 0.7%                                   
|EBOS Group Ltd.                                      
|Ryman Healthcare Group Ltd.                          
|TOTAL NEW ZEALAND                                    
|Common Stocks - continued                            
|                                                     
|Philippines - 0.7%                                   
|Alliance Global Group, Inc.                          
|SM Investments Corp.                                 
|TOTAL PHILIPPINES                                    
|South Africa - 1.0%                                  
|EOH Holdings Ltd.                                    
|Naspers Ltd. Class N                                 
|TOTAL SOUTH AFRICA                                   
|Spain - 1.9%                                         
|Amadeus IT Holding SA Class A                        
|Atresmedia Corporacion de Medios de Comunicacion SA  
|Hispania Activos Inmobiliarios SA (a)                
|Inditex SA                                           
|Mediaset Espana Comunicacion, S.A.                   
|TOTAL SPAIN                                          
|Sweden - 2.1%                                        
|ASSA ABLOY AB (B Shares)                             
|HEXPOL AB (B Shares)                                 
|Nordea Bank AB                                       
|Svenska Handelsbanken AB (A Shares)                  
|TOTAL SWEDEN                                         
|Switzerland - 5.5%                                   
|Clariant AG (Reg.)                                   
|GAM Holding Ltd.                                     
|Julius Baer Group Ltd.                               
|Lonza Group AG                                       
|Novartis AG                                          
|Partners Group Holding AG                            
|Schindler Holding AG (participation certificate)     
|Sonova Holding AG Class B                            
|UBS Group AG                                         
|TOTAL SWITZERLAND                                    
|Taiwan - 0.8%                                        
|ECLAT Textile Co. Ltd.                               
|JHL Biotech, Inc. (j)                                
|Merida Industry Co. Ltd.                             
|Taiwan Semiconductor Manufacturing Co. Ltd.          
|TOTAL TAIWAN                                         
|Common Stocks - continued                            
|                                                     
|Turkey - 0.1%                                        
|Logo Yazilim Sanayi Ve Ticar                         
|United Kingdom - 18.0%                               
|AA PLC                                               
|Aberdeen Asset Management PLC                        
|Al Noor Hospitals Group PLC                          
|Associated British Foods PLC                         
|Aviva PLC                                            
|B&M European Value Retail S.A.                       
|BG Group PLC                                         
|British American Tobacco PLC (United Kingdom)        
|BT Group PLC                                         
|BTG PLC (a)                                          
|Bunzl PLC                                            
|Diploma PLC                                          
|Essentra PLC                                         
|Hikma Pharmaceuticals PLC                            
|Howden Joinery Group PLC                             
|HSBC Holdings PLC (United Kingdom)                   
|Imperial Tobacco Group PLC                           
|ITE Group PLC                                        
|ITV PLC                                              
|Johnson Matthey PLC                                  
|Liberty Global PLC Class A (a)                       
|Lloyds Banking Group PLC                             
|London Stock Exchange Group PLC                      
|Meggitt PLC                                          
|Melrose PLC                                          
|Next PLC                                             
|Persimmon PLC                                        
|Poundland Group PLC                                  
|Reckitt Benckiser Group PLC                          
|Rex Bionics PLC (a)(f)                               
|Rio Tinto PLC                                        
|Royal Dutch Shell PLC Class A (United Kingdom)       
|SABMiller PLC                                        
|Schroders PLC                                        
|Shawbrook Group Ltd.                                 
|Spirax-Sarco Engineering PLC                         
|St. James's Place Capital PLC                        
|Taylor Wimpey PLC                                    
|The Restaurant Group PLC                             
|Virgin Money Holdings Uk PLC (a)                     
|Common Stocks - continued                            
|                                                     
|United Kingdom - continued                           
|Vodafone Group PLC                                   
|Whitbread PLC                                        
|Workspace Group PLC                                  
|TOTAL UNITED KINGDOM                                 
|United States of America - 2.7%                      
|Chevron Corp.                                        
|Constellation Brands, Inc. Class A (sub. vtg.) (a)   
|McGraw Hill Financial, Inc.                          
|Monster Beverage Corp. (a)                           
|Visa, Inc. Class A                                   
|TOTAL UNITED STATES OF AMERICA                       
|TOTAL COMMON STOCKS
(Cost $9,169,054)                
|Preferred Stocks - 1.3%                              
|                                                     
|Convertible Preferred Stocks - 0.2%                  
|Cayman Islands - 0.2%                                
|Meituan Corp. Series D (j)                           
|Nonconvertible Preferred Stocks - 1.1%               
|Germany - 1.1%                                       
|Henkel AG & Co. KGaA                                 
|Volkswagen AG (e)                                    
|TOTAL GERMANY                                        
|TOTAL PREFERRED STOCKS
(Cost $123,294)               

|Government Obligations - 0.1%                                                                    
|-------------------------------------------------------------------------------------------------
|                                                                                                 
|United States of America - 0.1%                                                                  
|U.S. Treasury Bills, yield at date of purchase 0.01% to 0.02% 5/7/15 to 5/14/15 (i)
(Cost $7,710)
|Preferred Securities - 0.1%                                                                      
|                                                                                                 
|Ireland - 0.1%                                                                                   
|Baggot Securities Ltd. 10.24% (g)(h)
(Cost $13,883)                                              

|Money Market Funds - 3.5%                                  
|-----------------------------------------------------------
|                                                           
|Fidelity Cash Central Fund, 0.15% (b)                      
|Fidelity Securities Lending Cash Central Fund, 0.17% (b)(c)
|TOTAL MONEY MARKET FUNDS
(Cost $402,598)                   
|TOTAL INVESTMENT PORTFOLIO - 101.1%
(Cost $9,716,539)      
|NET OTHER ASSETS (LIABILITIES) - (1.1)%                    
|NET ASSETS - 100%                                          

|Futures Contracts                                   
|----------------------------------------------------
|                                                    
|Purchased                                           
|Equity Index Contracts                              
|2,033 CME Nikkei 225 Index Contracts (United States)

|The face value of futures purchased as a percentage of net assets is 1.7%                                                   
|----------------------------------------------------------------------------------------------------------------------------
|For the period, the average monthly underlying face amount at value for futures contracts in the aggregate was $256,259,000.

|Currency Abbreviations
|----------------------
|EUR                   

|Legend                                                                                                                                                                                                                                                                                                                                                                                                                                           
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|(a)	Non-income producing                                                                                                                                                                                                                                                                                                                                                                                                                         
|(b)	Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.
|(c)	Investment made with cash collateral received from securities on loan.                                                                                                                                                                                                                                                                                                                                                                       
|(d)	Amount is stated in United States dollars unless otherwise noted.                                                                                                                                                                                                                                                                                                                                                                            
|(e)	Security or a portion of the security is on loan at period end.                                                                                                                                                                                                                                                                                                                                                                              
|(f)	Affiliated company                                                                                                                                                                                                                                                                                                                                                                                                                           
|(g)	Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $13,136,000 or 0.1% of net assets.                                                                                                                                 
|(h)	Security is perpetual in nature with no stated maturity date.                                                                                                                                                                                                                                                                                                                                                                                
|(i)	Security or a portion of the security was pledged to cover margin requirements for futures contracts. At period end, the value of securities pledged amounted to $7,496,000.                                                                                                                                                                                                                                                                 
|(j)	Restricted securities - Investment in securities not registered under the Securities Act of 1933 (excluding 144A issues). At the end of the period, the value of restricted securities (excluding 144A issues) amounted to $31,387,000 or 0.3% of net assets.                                                                                                                                                                                
|Additional information on each restricted holding is as follows:                                                                                                                                                                                                                                                                                                                                                                                 

|Security               | Acquisition Date | Acquisition Cost (000s)
|---------------------- | ---------------- | -----------------------
|JHL Biotech, Inc.      | 4/14/15          | $	9,342                
|Meituan Corp. Series D | 1/26/15          | $	18,833               

|Affiliated Central Funds                                                                                                     
|-----------------------------------------------------------------------------------------------------------------------------
|Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:

|Fund                                          | Income earned
(Amounts in thousands)
|--------------------------------------------- | ------------------------------------
|Fidelity Cash Central Fund                    | $	343                               
|Fidelity Securities Lending Cash Central Fund | 1,811                               
|Total                                         | $	2,154                             

|Other Affiliated Issuers                                                                                                                                                                                
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|An affiliated company is a company in which the Fund has ownership of at least 5% of the voting securities. Fiscal year to date transactions with companies which are or were affiliates are as follows:

|Affiliate
(Amounts in thousands) | Value, beginning of period | Purchases | Sales
Proceeds* | Dividend
Income | Value,
end of
period
|-------------------------------- | -------------------------- | --------- | --------------- | --------------- | --------------------
|Hoegh LNG Partners LP            | $	12,426                   | $	2,837   | $	130           | $	271           | $	15,679            
|MySale Group PLC                 | 26,053                     | -         | 61              | -               | 7,138               
|PAX Global Technology Ltd.       | 71,203                     | 795       | 600             | -               | 97,048              
|Rex Bionics PLC                  | 3,518                      | -         | 12              | -               | 1,263               
|Total                            | $	113,200                  | $	3,632   | $	803           | $	271           | $	121,128           

* Includes the value of securities delivered through in-kind transactions.

|Other Information                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|Categorizations in the Schedule of Investments are based on country or territory of incorporation.                                                                                                                                                                                                                                                                                                                                                                                             
|The following is a summary of the inputs used, as of April 30, 2015, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the tables below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

|Valuation Inputs at Reporting Date:
|-----------------------------------
|Description
(Amounts in thousands) 
|Investments in Securities:         
|Equities:                          
|Consumer Discretionary             
|Consumer Staples                   
|Energy                             
|Financials                         
|Health Care                        
|Industrials                        
|Information Technology             
|Materials                          
|Telecommunication Services         
|Government Obligations             
|Valuation Inputs at Reporting Date:
|Description
(Amounts in thousands) 
|Investments in Securities:         
|Equities:                          
|Preferred Securities               
|Money Market Funds                 
|Total Investments in Securities:   
|Derivative Instruments:            
|Assets                             
|Futures Contracts                  

|The following is a summary of transfers between Level 1 and Level 2 for the period endedApril 30, 2015. Transfers are assumed to have occurred at the beginning of the period, and are primarily attributable to the valuation techniques used for foreign equity securities, as discussed in the accompanying Notes to Financial Statements:
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|Transfers          | Total (000s)
|------------------ | ------------
|Level 1 to Level 2 | $	3,100,351 
|Level 2 to Level 1 | $	1,239,771 

|Value of Derivative Instruments                                                                                                                                                                                                                                                          
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|The following table is a summary of the Fund's value of derivative instruments by primary risk exposure as of April 30, 2015. For additional information on derivative instruments, please refer to the Derivative Instruments section in the accompanying Notes to Financial Statements.

|Primary Risk Exposure /Derivative Type | Value (000s)
|-------------------------------------- | ------------
|                                       | Asset       
|Equity Risk                            |             
|Futures Contracts (a)                  | $	5,906     
|Total Value of Derivatives             | $	5,906     

|(a) Reflects gross cumulative appreciation (depreciation) on futures contracts as presented in the Schedule of Investments. Only the period end receivable or payable for daily variation margin and net unrealized appreciation (depreciation) are presented in the Statement of Assets and Liabilities.
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

---

# Financial Statements

## Statement of Assets and Liabilities

|Amounts in thousands (except per-share amounts)                                                                                                  | April 30, 2015 (Unaudited)
|------------------------------------------------------------------------------------------------------------------------------------------------ | --------------------------
|                                                                                                                                                 |                           
|Assets                                                                                                                                           |                           
|Investment in securities, at value (including securities loaned of $169,755) - See accompanying schedule:
Unaffiliated issuers (cost $9,224,668) | $	10,974,157              
|Fidelity Central Funds (cost $402,598)                                                                                                           | 402,598                   
|Other affiliated issuers (cost $89,273)                                                                                                          | 121,128                   
|Total Investments (cost $9,716,539)                                                                                                              |                           
|Foreign currency held at value (cost $4,728)                                                                                                     |                           
|Receivable for investments sold                                                                                                                  |                           
|Receivable for fund shares sold                                                                                                                  |                           
|Dividends receivable                                                                                                                             |                           
|Distributions receivable from Fidelity Central Funds                                                                                             |                           
|Prepaid expenses                                                                                                                                 |                           
|Other receivables                                                                                                                                |                           
|Total assets                                                                                                                                     |                           
|                                                                                                                                                 |                           
|Liabilities                                                                                                                                      |                           
|Payable for investments purchased                                                                                                                | $	67,420                  
|Payable for fund shares redeemed                                                                                                                 | 15,030                    
|Accrued management fee                                                                                                                           | 6,812                     
|Distribution and service plan fees payable                                                                                                       | 117                       
|Payable for daily variation margin for derivative instruments                                                                                    | 4,015                     
|Other affiliated payables                                                                                                                        | 1,583                     
|Other payables and accrued expenses                                                                                                              | 5,620                     
|Collateral on securities loaned, at value                                                                                                        | 178,390                   
|Total liabilities                                                                                                                                |                           
|                                                                                                                                                 |                           
|Net Assets                                                                                                                                       |                           
|Net Assets consist of:                                                                                                                           |                           
|Paid in capital                                                                                                                                  |                           
|Undistributed net investment income                                                                                                              |                           
|Accumulated undistributed net realized gain (loss) on investments and foreign currency transactions                                              |                           
|Net unrealized appreciation (depreciation) on investments and assets and liabilities in foreign currencies                                       |                           
|Net Assets                                                                                                                                       |                           

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Statement of Assets and Liabilities - continued

|Amounts in thousands (except per-share amounts)                                                                               | April 30, 2015 (Unaudited)
|----------------------------------------------------------------------------------------------------------------------------- | --------------------------
|                                                                                                                              |                           
|Calculation of Maximum Offering Price
Class A:
Net Asset Valueand redemption price per share ($304,057.33 ÷ 7,381.512 shares) |                           
|                                                                                                                              |                           
|Maximum offering price per share (100/94.25 of $41.19)                                                                        |                           
|Class T:
Net Asset Value and redemption price per share ($46,880.10 ÷ 1,144.698 shares)                                       |                           
|                                                                                                                              |                           
|Maximum offering price per share (100/96.50 of $40.95)                                                                        |                           
|Class B:
Net Asset Value and offering price per share ($3,368.75 ÷ 82.673 shares)A                                            |                           
|                                                                                                                              |                           
|Class C:
Net Asset Value and offering price per share ($36,977.48 ÷ 909.094 shares)A                                          |                           
|                                                                                                                              |                           
|International Discovery:
Net Asset Value, offering price and redemption price per share ($7,509,970.46 ÷ 181,122.244 shares)  |                           
|                                                                                                                              |                           
|Class K:
Net Asset Value, offering price and redemption price per share ($2,535,160.10 ÷ 61,270.682 shares)                   |                           
|                                                                                                                              |                           
|Institutional Class:
Net Asset Value, offering price and redemption price per share ($899,960.61 ÷ 21,750.815 shares)         |                           
|                                                                                                                              |                           
|Class Z:
Net Asset Value, offering price and redemption price per share ($39,986.32 ÷ 966.930 shares)                         |                           

ARedemption price per share is equal to net asset value less any applicable contingent deferred sales charge.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

Financial Statements - continued

## Statement of Operations

|Amounts in thousands 	Six months ended April 30, 2015 (Unaudited)                                                                   
|------------------------------------------------------------------------------------------------------------------------------------
|                                                                                                                                    
|Investment Income                                                                                                                   
|Dividends (including $271 earned from other affiliated issuers)                                                                     
|Interest                                                                                                                            
|Income from Fidelity Central Funds                                                                                                  
|Income before foreign taxes withheld                                                                                                
|Less foreign taxes withheld                                                                                                         
|Total income                                                                                                                        
|                                                                                                                                    
|Expenses                                                                                                                            
|Management fee
Basic fee                                                                                                            
|Performance adjustment                                                                                                              
|Transfer agent fees                                                                                                                 
|Distribution and service plan fees                                                                                                  
|Accounting and security lending fees                                                                                                
|Custodian fees and expenses                                                                                                         
|Independent trustees' compensation                                                                                                  
|Registration fees                                                                                                                   
|Audit                                                                                                                               
|Legal                                                                                                                               
|Miscellaneous                                                                                                                       
|Total expenses before reductions                                                                                                    
|Expense reductions                                                                                                                  
|Net investment income (loss)                                                                                                        
|Realized and Unrealized Gain (Loss)
Net realized gain (loss) on:                                                                    
|Investment securities:                                                                                                              
|Unaffiliated issuers                                                                                                                
|Other affiliated issuers                                                                                                            
|Foreign currency transactions                                                                                                       
|Futures contracts                                                                                                                   
|Total net realized gain (loss)                                                                                                      
|Change in net unrealized appreciation (depreciation) on:
Investment securities (net of decrease in deferred foreign taxes of $2,662)
|Assets and liabilities in foreign currencies                                                                                        
|Futures contracts                                                                                                                   
|Total change in net unrealized appreciation (depreciation)                                                                          
|Net gain (loss)                                                                                                                     
|Netincrease (decrease) in net assets resulting from operations                                                                      

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Statement of Changes in Net Assets

|Amounts in thousands                                                                                                                      | Six months ended April 30, 2015 (Unaudited) | Year ended
October 31,
2014
|----------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------------------- | ---------------------------
|Increase (Decrease) in Net Assets                                                                                                         |                                             |                            
|Operations                                                                                                                                |                                             |                            
|Net investment income (loss)                                                                                                              | $	49,711                                    | $	199,098                  
|Net realized gain (loss)                                                                                                                  | 236,783                                     | 758,004                    
|Change in net unrealized appreciation (depreciation)                                                                                      | 464,328                                     | (958,756)                  
|Netincrease (decrease) in net assets resulting from operations                                                                            | 750,822                                     | (1,654)                    
|Distributions to shareholders from net investment income                                                                                  | (74,589)                                    | (136,326)                  
|Distributions to shareholders from net realized gain                                                                                      | -                                           | (88,586)                   
|Total distributions                                                                                                                       | (74,589)                                    | (224,912)                  
|Share transactions - net increase (decrease)                                                                                              | (298,467)                                   | (69,908)                   
|Redemption fees                                                                                                                           | 44                                          | 139                        
|Total increase (decrease) in net assets                                                                                                   | 377,810                                     | (296,335)                  
|                                                                                                                                          |                                             |                            
|Net Assets                                                                                                                                |                                             |                            
|Beginning of period                                                                                                                       | 10,998,551                                  | 11,294,886                 
|End of period (including undistributed net investment income of $43,731 and undistributed net investment income of $68,609, respectively) | $	11,376,361                                | $	10,998,551               

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - Class A

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | Six months ended April 30, 2015 | Years ended October 31,
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------- | -----------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | (Unaudited)                     | 2014                   
|Selected Per-Share Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |                                 |                        
|Net asset value, beginning of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | $	38.70                         | $	39.49                
|Income from Investment Operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                                 |                        
|Net investment income (loss)E                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | .11                             | .53H                   
|Net realized and unrealized gain (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | 2.49                            | (.67)                  
|Total from investment operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | 2.60                            | (.14)                  
|Distributions from net investment income                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | (.11)                           | (.33)                  
|Distributions from net realized gain                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | -                               | (.31)                  
|Total distributions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | (.11)                           | (.65)L                 
|Redemption fees added to paid in capital E, J                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | -                               | -                      
|Net asset value, end of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | $	41.19                         | $	38.70                
|Total ReturnB, C, D                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | 6.74%                           | (.36)%                 
|Ratios to Average Net AssetsF, I                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |                                 |                        
|Expenses before reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | 1.33%A                          | 1.28%                  
|Expenses net of fee waivers, if any                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | 1.33%A                          | 1.28%                  
|Expenses net of all reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | 1.33%A                          | 1.28%                  
|Net investment income (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | .54%A                           | 1.35%H                 
|Supplemental Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                                 |                        
|Net assets, end of period (in millions)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | $	304                           | $	297                  
|Portfolio turnover rateG                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | 73%A,K                          | 57%                    
|AAnnualizedBTotal returns for periods of less than one year are not annualized.CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.DTotal returns do not include the effect of the sales charges.ECalculated based on average shares outstanding during the period.FFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.GAmount does not include the portfolio activity of any underlying Fidelity Central Funds.HInvestment income per share reflects a large, non-recurring dividend which amounted to $.22 per share. Excluding this non-recurring dividend, the ratio of net investment income (loss) to average net assets would have been .80%.IExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.JAmount represents less than $.01 per share.KPortfolio turnover rate excludes securities received or delivered in-kind.LTotal distributions of $.65 per share is comprised of distributions from net investment income of $.334 and distributions from net realized gain of $.311 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - Class T

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | Six months ended April 30, 2015 | Years ended October 31,
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------- | -----------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | (Unaudited)                     | 2014                   
|Selected Per-Share Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                                 |                        
|Net asset value, beginning of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | $	38.43                         | $	39.23                
|Income from Investment Operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |                                 |                        
|Net investment income (loss)E                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | .06                             | .44H                   
|Net realized and unrealized gain (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | 2.48                            | (.68)                  
|Total from investment operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | 2.54                            | (.24)                  
|Distributions from net investment income                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | (.02)                           | (.25)                  
|Distributions from net realized gain                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | -                               | (.31)                  
|Total distributions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | (.02)                           | (.56)                  
|Redemption fees added to paid in capital E, J                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | -                               | -                      
|Net asset value, end of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | $	40.95                         | $	38.43                
|Total ReturnB, C, D                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | 6.61%                           | (.60)%                 
|Ratios to Average Net AssetsF, I                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |                                 |                        
|Expenses before reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | 1.57%A                          | 1.51%                  
|Expenses net of fee waivers, if any                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | 1.57%A                          | 1.51%                  
|Expenses net of all reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | 1.57%A                          | 1.51%                  
|Net investment income (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | .30%A                           | 1.11%H                 
|Supplemental Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |                                 |                        
|Net assets, end of period (in millions)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $	47                            | $	49                   
|Portfolio turnover rateG                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | 73%A,K                          | 57%                    
|AAnnualizedBTotal returns for periods of less than one year are not annualized.CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.DTotal returns do not include the effect of the sales charges.ECalculated based on average shares outstanding during the period.FFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.GAmount does not include the portfolio activity of any underlying Fidelity Central Funds.HInvestment income per share reflects a large, non-recurring dividend which amounted to $.21 per share. Excluding this non-recurring dividend, the ratio of net investment income (loss) to average net assets would have been .56%.IExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.JAmount represents less than $.01 per share.KPortfolio turnover rate excludes securities received or delivered in-kind.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - Class B

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | Six months ended April 30, 2015 | Years ended October 31,
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------- | -----------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | (Unaudited)                     | 2014                   
|Selected Per-Share Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                                 |                        
|Net asset value, beginning of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | $	38.32                         | $	39.08                
|Income from Investment Operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                                 |                        
|Net investment income (loss)E                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | (.05)                           | .22H                   
|Net realized and unrealized gain (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | 2.48                            | (.66)                  
|Total from investment operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | 2.43                            | (.44)                  
|Distributions from net investment income                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | -                               | (.01)                  
|Distributions from net realized gain                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | -                               | (.31)                  
|Total distributions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | -                               | (.32)                  
|Redemption fees added to paid in capital E, J                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | -                               | -                      
|Net asset value, end of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | $	40.75                         | $	38.32                
|Total ReturnB, C, D                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | 6.34%                           | (1.12)%                
|Ratios to Average Net AssetsF, I                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |                                 |                        
|Expenses before reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | 2.11%A                          | 2.06%                  
|Expenses net of fee waivers, if any                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | 2.11%A                          | 2.06%                  
|Expenses net of all reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | 2.11%A                          | 2.05%                  
|Net investment income (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | (.24)%A                         | .57%H                  
|Supplemental Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                                 |                        
|Net assets, end of period (in millions)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | $	3                             | $	5                    
|Portfolio turnover rateG                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | 73%A,K                          | 57%                    
|AAnnualizedBTotal returns for periods of less than one year are not annualized.CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.DTotal returns do not include the effect of the contingent deferred sales charge.ECalculated based on average shares outstanding during the period.FFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.GAmount does not include the portfolio activity of any underlying Fidelity Central Funds.HInvestment income per share reflects a large, non-recurring dividend which amounted to $.21 per share. Excluding this non-recurring dividend, the ratio of net investment income (loss) to average net assets would have been .02%.IExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.JAmount represents less than $.01 per share.KPortfolio turnover rate excludes securities received or delivered in-kind.LTotal distributions of $.27 per share is comprised of distributions from net investment income of $.115 and distributions from net realized gain of $.155 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - Class C

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | Six months ended April 30, 2015 | Years ended October 31,
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------- | -----------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | (Unaudited)                     | 2014                   
|Selected Per-Share Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                                 |                        
|Net asset value, beginning of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | $	38.25                         | $	39.07                
|Income from Investment Operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                                 |                        
|Net investment income (loss)E                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | (.04)                           | .23H                   
|Net realized and unrealized gain (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | 2.47                            | (.66)                  
|Total from investment operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | 2.43                            | (.43)                  
|Distributions from net investment income                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | -                               | (.08)                  
|Distributions from net realized gain                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | -                               | (.31)                  
|Total distributions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | -                               | (.39)                  
|Redemption fees added to paid in capital E, J                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | -                               | -                      
|Net asset value, end of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | $	40.68                         | $	38.25                
|Total ReturnB, C, D                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | 6.35%                           | (1.10)%                
|Ratios to Average Net AssetsF, I                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |                                 |                        
|Expenses before reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | 2.08%A                          | 2.03%                  
|Expenses net of fee waivers, if any                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | 2.08%A                          | 2.03%                  
|Expenses net of all reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | 2.08%A                          | 2.02%                  
|Net investment income (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | (.21)%A                         | .60%H                  
|Supplemental Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                                 |                        
|Net assets, end of period (in millions)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | $	37                            | $	35                   
|Portfolio turnover rateG                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | 73%A,K                          | 57%                    
|AAnnualizedBTotal returns for periods of less than one year are not annualized.CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.DTotal returns do not include the effect of the contingent deferred sales charge.ECalculated based on average shares outstanding during the period.FFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.GAmount does not include the portfolio activity of any underlying Fidelity Central Funds.HInvestment income per share reflects a large, non-recurring dividend which amounted to $.21 per share. Excluding this non-recurring dividend, the ratio of net investment income (loss) to average net assets would have been .05%.IExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.JAmount represents less than $.01 per share.KPortfolio turnover rate excludes securities received or delivered in-kind.LTotal distributions of $.29 per share is comprised of distributions from net investment income of $.137 and distributions from net realized gain of $.155 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - International Discovery

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | Six months ended April 30, 2015 | Years ended October 31,
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------- | -----------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | (Unaudited)                     | 2014                   
|Selected Per-Share Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |                                 |                        
|Net asset value, beginning of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | $	39.03                         | $	39.82                
|Income from Investment Operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |                                 |                        
|Net investment income (loss)D                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | .17                             | .67G                   
|Net realized and unrealized gain (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | 2.52                            | (.68)                  
|Total from investment operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | 2.69                            | (.01)                  
|Distributions from net investment income                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | (.26)                           | (.47)                  
|Distributions from net realized gain                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | -                               | (.31)                  
|Total distributions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | (.26)                           | (.78)                  
|Redemption fees added to paid in capital D, I                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | -                               | -                      
|Net asset value, end of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | $	41.46                         | $	39.03                
|Total ReturnB, C                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | 6.92%                           | (.01)%                 
|Ratios to Average Net AssetsE, H                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |                                 |                        
|Expenses before reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | .99%A                           | .93%                   
|Expenses net of fee waivers, if any                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | .99%A                           | .93%                   
|Expenses net of all reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | .98%A                           | .93%                   
|Net investment income (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | .88%A                           | 1.69%G                 
|Supplemental Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |                                 |                        
|Net assets, end of period (in millions)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | $	7,510                         | $	7,464                
|Portfolio turnover rateF                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | 73%A,J                          | 57%                    
|AAnnualizedBTotal returns for periods of less than one year are not annualized.CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.DCalculated based on average shares outstanding during the period.EFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.FAmount does not include the portfolio activity of any underlying Fidelity Central Funds.GInvestment income per share reflects a large, non-recurring dividend which amounted to $.22 per share. Excluding this non-recurring dividend, the ratio of net investment income (loss) to average net assets would have been 1.15%.HExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.IAmount represents less than $.01 per share.JPortfolio turnover rate excludes securities received or delivered in-kind.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - Class K

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | Six months ended April 30, 2015 | Years ended October 31,
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ------------------------------- | -----------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | (Unaudited)                     | 2014                   
|Selected Per-Share Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                                 |                        
|Net asset value, beginning of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | $	38.97                         | $	39.76                
|Income from Investment Operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                                 |                        
|Net investment income (loss)D                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | .20                             | .72G                   
|Net realized and unrealized gain (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | 2.52                            | (.67)                  
|Total from investment operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | 2.72                            | .05                    
|Distributions from net investment income                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | (.31)                           | (.53)                  
|Distributions from net realized gain                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | -                               | (.31)                  
|Total distributions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | (.31)                           | (.84)                  
|Redemption fees added to paid in capital D, I                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | -                               | -                      
|Net asset value, end of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | $	41.38                         | $	38.97                
|Total ReturnB, C                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | 7.03%                           | .13%                   
|Ratios to Average Net AssetsE, H                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |                                 |                        
|Expenses before reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | .86%A                           | .80%                   
|Expenses net of fee waivers, if any                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | .86%A                           | .80%                   
|Expenses net of all reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | .85%A                           | .79%                   
|Net investment income (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | 1.01%A                          | 1.83%G                 
|Supplemental Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                                 |                        
|Net assets, end of period (in millions)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | $	2,535                         | $	2,464                
|Portfolio turnover rateF                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | 73%A,J                          | 57%                    
|AAnnualizedBTotal returns for periods of less than one year are not annualized.CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.DCalculated based on average shares outstanding during the period.EFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.FAmount does not include the portfolio activity of any underlying Fidelity Central Funds.GInvestment income per share reflects a large, non-recurring dividend which amounted to $.22 per share. Excluding this non-recurring dividend, the ratio of net investment income (loss) to average net assets would have been 1.28%.HExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.IAmount represents less than $.01 per share.JPortfolio turnover rate excludes securities received or delivered in-kind.KTotal distributions of $.70 per share is comprised of distributions from net investment income of $.548 and distributions from net realized gain of $.155 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - Institutional Class

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | Six months ended April 30, 2015 | Years ended October 31,
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ------------------------------- | -----------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | (Unaudited)                     | 2014                   
|Selected Per-Share Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                                 |                        
|Net asset value, beginning of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | $	38.96                         | $	39.76                
|Income from Investment Operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                                 |                        
|Net investment income (loss)D                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | .17                             | .67G                   
|Net realized and unrealized gain (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | 2.51                            | (.68)                  
|Total from investment operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | 2.68                            | (.01)                  
|Distributions from net investment income                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | (.26)                           | (.48)                  
|Distributions from net realized gain                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | -                               | (.31)                  
|Total distributions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | (.26)                           | (.79)                  
|Redemption fees added to paid in capital D, I                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | -                               | -                      
|Net asset value, end of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | $	41.38                         | $	38.96                
|Total ReturnB, C                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | 6.93%                           | (.01)%                 
|Ratios to Average Net AssetsE, H                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |                                 |                        
|Expenses before reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | 1.00%A                          | .93%                   
|Expenses net of fee waivers, if any                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | 1.00%A                          | .93%                   
|Expenses net of all reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | .99%A                           | .93%                   
|Net investment income (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | .87%A                           | 1.69%G                 
|Supplemental Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                                 |                        
|Net assets, end of period (in millions)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | $	900                           | $	650                  
|Portfolio turnover rateF                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | 73%A,J                          | 57%                    
|AAnnualizedBTotal returns for periods of less than one year are not annualized.CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.DCalculated based on average shares outstanding during the period.EFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.FAmount does not include the portfolio activity of any underlying Fidelity Central Funds.GInvestment income per share reflects a large, non-recurring dividend which amounted to $.22 per share. Excluding this non-recurring dividend, the ratio of net investment income (loss) to average net assets would have been 1.14%.HExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.IAmount represents less than $.01 per share.JPortfolio turnover rate excludes securities received or delivered in-kind.KTotal distributions of $.65 per share is comprised of distributions from net investment income of $.497 and distributions from net realized gain of $.155 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - Class Z

|                                              | Six months ended April 30, 2015 | Years ended October 31,
|--------------------------------------------- | ------------------------------- | -----------------------
|                                              | (Unaudited)                     | 2014                   
|Selected Per-Share Data                       |                                 |                        
|Net asset value, beginning of period          | $	38.96                         | $	39.77                
|Income from Investment Operations             |                                 |                        
|Net investment income (loss)D                 | .20                             | .72G                   
|Net realized and unrealized gain (loss)       | 2.51                            | (.68)                  
|Total from investment operations              | 2.71                            | .04                    
|Distributions from net investment income      | (.32)                           | (.54)                  
|Distributions from net realized gain          | -                               | (.31)                  
|Total distributions                           | (.32)                           | (.85)                  
|Redemption fees added to paid in capital D, J | -                               | -                      
|Net asset value, end of period                | $	41.35                         | $	38.96                
|Total ReturnB, C                              | 7.00%                           | .12%                   
|Ratios to Average Net AssetsE, I              |                                 |                        
|Expenses before reductions                    | .86%A                           | .80%                   
|Expenses net of fee waivers, if any           | .86%A                           | .80%                   
|Expenses net of all reductions                | .85%A                           | .79%                   
|Net investment income (loss)                  | 1.01%A                          | 1.83%G                 
|Supplemental Data                             |                                 |                        
|Net assets, end of period (000 omitted)       | $	39,986                        | $	35,125               
|Portfolio turnover rate F                     | 73%A, K                         | 57%                    

|AAnnualizedBTotal returns for periods of less than one year are not annualized.CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.DCalculated based on average shares outstanding during the period.EFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.FAmount does not include the portfolio activity of any underlying Fidelity Central Funds.GInvestment income per share reflects a large, non-recurring dividend which amounted to $.21 per share. Excluding this non-recurring dividend, the ratio of net investment income (loss) to average net assets would have been 1.28%.HFor the period August 13, 2013 (commencement of sale of shares) to October 31, 2013.IExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.JAmount represents less than $.01 per share.KPortfolio turnover rate excludes securities received or delivered in-kind.
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

---

# Notes to Financial Statements

For the period ended April 30, 2015 (Unaudited)

(Amounts in thousands except percentages)

1. Organization.

Fidelity® International Discovery Fund (the Fund) is a fund of Fidelity Investment Trust (the Trust) and is authorized to issue an unlimited number of shares. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Massachusetts business trust. The Fund offers Class A, Class T, Class C, International Discovery, Class K, Institutional Class and Class Z shares, each of which, along with Class B shares, has equal rights as to assets and voting privileges. Class B shares are closed to new accounts and additional purchases, except for exchanges and reinvestments. Each class has exclusive voting rights with respect to matters that affect that class. Class B shares will automatically convert to Class A shares after a holding period of seven years from the initial date of purchase.

2. Investments in Fidelity Central Funds.

The Fund invests in Fidelity Central Funds, which are open-end investment companies generally available only to other investment companies and accounts managed by the investment adviser and its affiliates. The Fund's Schedule of Investments lists each of the Fidelity Central Funds held as of period end, if any, as an investment of the Fund, but does not include the underlying holdings of each Fidelity Central Fund. As an Investing Fund, the Fund indirectly bears its proportionate share of the expenses of the underlying Fidelity Central Funds.

The Money Market Central Funds seek preservation of capital and current income and are managed by Fidelity Investments Money Management, Inc. (FIMM), an affiliate of the investment adviser. Annualized expenses of the Money Market Central Funds as of their most recent shareholder report date are less than .01%.

A complete unaudited list of holdings for each Fidelity Central Fund is available upon request or at the Securities and Exchange Commission (the SEC) website at www.sec.gov. In addition, the financial statements of the Fidelity Central Funds are available on the SEC website or upon request.

3. Significant Accounting Policies.

The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP), which require management to make certain estimates and assumptions at the date of the financial statements. Actual results could differ from those estimates. Subsequent events, if any, through the date that the financial statements were issued have been evaluated in the preparation of

Semiannual Report

Notes to Financial Statements (Unaudited) - continued

(Amounts in thousands except percentages)

3. Significant Accounting Policies - continued

the financial statements. The following summarizes the significant accounting policies of the Fund:

Investment Valuation.Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. The Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fidelity Management & Research Company (FMR) Fair Value Committee (the Committee). In accordance with valuation policies and procedures approved by the Board, the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events, changes in interest rates and credit quality. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund's valuation policies and procedures and reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee.

The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels as shown below:

Level 1 - quoted prices in active markets for identical investments

Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, etc.)

Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available)

Valuation techniques used to value the Fund's investments by major category are as follows:

Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing vendor on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs),

Semiannual Report

3. Significant Accounting Policies - continued

Investment Valuation - continued

futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. Utilizing these techniques may result in transfers between Level 1 and Level 2. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy.

Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing vendors or from brokers who make markets in such securities. Preferred securities and U.S. government and government agency obligations are valued by pricing vendors who utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type or by broker-supplied prices. When independent prices are unavailable or unreliable, debt securities may be valued utilizing pricing methodologies which consider similar factors that would be used by third party pricing vendors. Debt securities are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances.

Futures contracts are valued at the settlement price established each day by the board of trade or exchange on which they are traded and are categorized as Level 1 in the hierarchy. Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy.

Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. The aggregate value of investments by input level, as of April 30, 2015, including information on transfers between Levels 1 and 2 is included at the end of the Fund's Schedule of Investments.

Foreign Currency.The Fund may use foreign currency contracts to facilitate transactions in foreign-denominated securities. Gains and losses from these transactions may arise from changes in the value of the foreign currency or if the counterparties do not perform under the contracts' terms.

Foreign-denominated assets, including investment securities, and liabilities are translated into U.S. dollars at the exchange rates at period end. Purchases and sales of investment securities, income and dividends received and expenses denominated in foreign currencies are translated into U.S. dollars at the exchange rate in effect on the transaction date.

Semiannual Report

Notes to Financial Statements (Unaudited) - continued

(Amounts in thousands except percentages)

3. Significant Accounting Policies - continued

Foreign Currency - continued

The effects of exchange rate fluctuations on investments are included with the net realized and unrealized gain (loss) on investment securities. Other foreign currency transactions resulting in realized and unrealized gain (loss) are disclosed separately.

Investment Transactions and Income.For financial reporting purposes, the Fund's investment holdings and NAV include trades executed through the end of the last business day of the period. The NAV per share for processing shareholder transactions is calculated as of the close of business of the New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time and includes trades executed through the end of the prior business day. Gains and losses on securities sold are determined on the basis of identified cost and may include proceeds received from litigation. Dividend income is recorded on the ex-dividend date, except for certain dividends from foreign securities where the ex-dividend date may have passed, which are recorded as soon as the Fund is informed of the ex-dividend date. Non-cash dividends included in dividend income, if any, are recorded at the fair market value of the securities received. Income and capital gain distributions from Fidelity Central Funds, if any, are recorded on the ex-dividend date. Distributions received on securities that represent a return of capital or capital gain are recorded as a reduction of cost of investments and/or as a realized gain. Subsequent to ex-dividend date the Fund determines the components of these distributions, based upon receipt of tax filings or other correspondence relating to the underlying investment. Interest income is accrued as earned and includes coupon interest and amortization of premium and accretion of discount on debt securities as applicable. Investment income is recorded net of foreign taxes withheld where recovery of such taxes is uncertain.

Class Allocations andExpenses. Investment income, realized and unrealized capital gains and losses, common expenses of the Fund, and certain fund-level expense reductions, if any, are allocated daily on a pro-rata basis to each class based on the relative net assets of each class to the total net assets of the Fund. Each class differs with respect to transfer agent and distribution and service plan fees incurred. Certain expense reductions may also differ by class. For the reporting period, the allocated portion of income and expenses to each class as a percent of its average net assets may vary due to the timing of recording these transactions in relation to fluctuating net assets of the classes. Expenses directly attributable to a fund are charged to that fund. Expenses attributable to more than one fund are allocated among the respective funds on the basis of relative net assets or other appropriate methods. Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.

Semiannual Report

3. Significant Accounting Policies - continued

DeferredTrustee Compensation. Under a Deferred Compensation Plan (the Plan), independent Trustees may elect to defer receipt of a portion of their annual compensation. Deferred amounts are invested in a cross-section of Fidelity funds, are marked-to-market and remain in the Fund until distributed in accordance with the Plan. The investment of deferred amounts and the offsetting payable to the Trustees are included in the accompanying Statement of Assets and Liabilities.

Income Tax Information and Distributions to Shareholders. Each year, the Fund intends to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code, including distributing substantially all of its taxable income and realized gains. As a result, no provision for U.S. Federal income taxes is required. The Fund files a U.S. federal tax return, in addition to state and local tax returns as required. The Fund's federal income tax returns are subject to examination by the Internal Revenue Service (IRS) for a period of three fiscal years after they are filed. State and local tax returns may be subject to examination for an additional fiscal year depending on the jurisdiction. Foreign taxes are provided for based on the Fund's understanding of the tax rules and rates that exist in the foreign markets in which it invests. The Fund is subject to a tax imposed on capital gains by certain countries in which it invests. An estimated deferred tax liability for net unrealized appreciation on the applicable securities is included in Other payables and accrued expenses on the Statement of Assets & Liabilities.

Distributions are declared and recorded on the ex-dividend date. Income dividends and capital gain distributions are declared separately for each class. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP.

Capital accounts within the financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations. Capital accounts are not adjusted for temporary book-tax differences which will reverse in a subsequent period.

Book-tax differences are primarily due to futures contracts, foreign currency transactions, passive foreign investment companies (PFIC), market discount, deferred trustees compensation, capital loss carryforwards and losses deferred due to wash sales.

The federal tax cost of investment securities and unrealized appreciation (depreciation) as of period end were as follows:

|Gross unrealized appreciation                            | $	2,018,808
|-------------------------------------------------------- | -----------
|Gross unrealized depreciation                            | (238,932)  
|Net unrealized appreciation (depreciation) on securities | $	1,779,876
|                                                         |            
|Tax cost                                                 | $	9,718,007

Semiannual Report

Notes to Financial Statements (Unaudited) - continued

(Amounts in thousands except percentages)

3. Significant Accounting Policies - continued

Income Tax Information and Distributions to Shareholders - continued

Capital loss carryforwards are only available to offset future capital gains of the Fund to the extent provided by regulations and may be limited. Under the Regulated Investment Company Modernization Act of 2010 (the Act), the Fund is permitted to carry forward capital losses incurred in taxable years beginning after December 22, 2010 for an unlimited period and such capital losses are required to be used prior to any losses that expire. The capital loss carryforward information presented below, including any applicable limitation, is estimated as of prior fiscal period end and is subject to adjustment.

|Fiscal year of expiration |            
|------------------------- | -----------
|2017                      | $	(227,245)

Short-Term Trading (Redemption) Fees. Shares held by investors in the Fund less than 30 days may have been subject to a redemption fee equal to 1.00% of the NAV of shares redeemed. All redemption fees, which reduce the proceeds of the shareholder redemption, are retained by the Fund and accounted for as an addition to paid in capital.

Restricted Securities. The Fund may invest in securities that are subject to legal or contractual restrictions on resale. These securities generally may be resold in transactions exempt from registration or to the public if the securities are registered. Disposal of these securities may involve time-consuming negotiations and expense, and prompt sale at an acceptable price may be difficult. Information regarding restricted securities is included at the end of the Fund's Schedule of Investments.

New Accounting Pronouncement.In June 2014, the Financial Accounting Standards Board issued Accounting Standard Update No. 2014-11, Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures (the Update). The Update amends the accounting for certain repurchase agreements and expands disclosure requirements for reverse repurchase agreements, securities lending and other similar transactions. The disclosure requirements are effective for annual and interim reporting periods beginning after December 15, 2014. Management is currently evaluating the impact of the Update on the Fund's financial statements and related disclosures.

4. Derivative Instruments.

Risk Exposures and the Use of Derivative Instruments. The Fund's investment objective allows the Fund to enter into various types of derivative contracts, including futures contracts. Derivatives are investments whose value is primarily derived from underlying assets, indices or reference rates and may be transacted on an exchange or over-the-counter (OTC). Derivatives may involve a future commitment to buy or sell a specified asset based on specified terms, to exchange future cash flows at periodic

Semiannual Report

4. Derivative Instruments - continued

Risk Exposures and the Use of Derivative Instruments - continued

intervals based on a notional principal amount, or for one party to make one or more payments upon the occurrence of specified events in exchange for periodic payments from the other party.

The Fund used derivatives to increase returns and to manage exposure to certain risks as defined below. The success of any strategy involving derivatives depends on analysis of numerous economic factors, and if the strategies for investment do not work as intended, the Fund may not achieve its objectives.

The Fund's use of derivatives increased or decreased its exposure to the following risk:

|Equity Risk | Equity risk relates to the fluctuations in the value of financial instruments as a result of changes in market prices (other than those arising from interest rate risk or foreign exchange risk), whether caused by factors specific to an individual investment, its issuer, or all factors affecting all instruments traded in a market or market segment.
|----------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

The Fund is also exposed to additional risks from investing in derivatives, such as liquidity risk and counterparty credit risk. Liquidity risk is the risk that the Fund will be unable to close out the derivative in the open market in a timely manner. Counterparty credit risk is the risk that the counterparty will not be able to fulfill its obligation to the Fund. Counterparty credit risk related to exchange-traded futures contracts may be mitigated by the protection provided by the exchange on which they trade.

Investing in derivatives may involve greater risks than investing in the underlying assets directly and, to varying degrees, may involve risk of loss in excess of any initial investment and collateral received and amounts recognized in the Statement of Assets and Liabilities. In addition, there may be the risk that the change in value of the derivative contract does not correspond to the change in value of the underlying instrument.

Futures Contracts.A futures contract is an agreement between two parties to buy or sell a specified underlying instrument for a fixed price at a specified future date. The Fund used futures contracts to manage its exposure to the stock market.

Upon entering into a futures contract, a fund is required to deposit either cash or securities (initial margin) with a clearing broker in an amount equal to a certain percentage of the face value of the contract. Futures contracts are marked-to-market daily and subsequent daily payments (variation margin) are made or received by a fund depending on the daily fluctuations in the value of the futures contracts and are recorded as unrealized appreciation or (depreciation). This receivable and/or payable, if any, is included in daily variation margin for derivative instruments in the Statement of Assets and Liabilities. Realized gain or (loss) is recorded upon the expiration or closing of a futures contract.

Semiannual Report

Notes to Financial Statements (Unaudited) - continued

(Amounts in thousands except percentages)

4. Derivative Instruments - continued

Futures Contracts - continued

Any open futures contracts at period end are presented in the Schedule of Investments under the caption "Futures Contracts." The underlying face amount at value reflects each contract's exposure to the underlying instrument or index at period end.

During the period the Fund recognized net realized gain (loss) of $42,556 and a change in net unrealized appreciation (depreciation) of $(18,692) related to its investment in futures contracts. These amounts are included in the Statement of Operations.

5. Purchases and Sales of Investments.

Purchases and sales of securities, other than short-term securities and in-kind transactions, aggregated $3,937,889 and $3,850,750, respectively.

Redemptions In-Kind. During the period, 2,460 shares of the Fund held by unaffiliated entities were redeemed for cash and investments, including accrued interest with a value of $92,600. The net realized gain of $15,499 on investments delivered through in-kind redemptions is included in the accompanying Statement of Operations. The amount of in-kind redemptions is included in share transactions in the accompanying Statement of Changes in Net Assets as well as Note 11: Share Transactions. The Fund recognized no gain or loss for federal income tax purposes.

6. Fees and Other Transactions with Affiliates.

Management Fee. Fidelity Management & Research Company (the investment adviser) and its affiliates provide the Fund with investment management related services for which the Fund pays a monthly management fee. The management fee is the sum of an individual fund fee rate that is based on an annual rate of .424% of the Fund's average net assets and an annualized group fee rate that averaged .25% during the period. The group fee rate is based upon the average net assets of all the mutual funds advised by the investment adviser, including any mutual funds previously advised by the investment adviser that are currently advised by Fidelity SelectCo, LLC, an affiliate of the investment adviser. The group fee rate decreases as assets under management increase and increases as assets under management decrease. In addition, the management fee is subject to a performance adjustment (up to a maximum of ± .20% of the Fund's average net assets over a 36 month performance period). The upward or downward adjustment to the management fee is based on the relative investment performance of International Discovery as compared to its benchmark index, the MSCI EAFE Index, over the same 36 month performance period. For the reporting period, the total annualized management fee rate, including the performance adjustment, was .77% of the Fund's average net assets. The performance adjustment included in the management fee rate may be higher

Semiannual Report

6. Fees and Other Transactions with Affiliates - continued

Management Fee - continued

or lower than the maximum performance adjustment rate due to the difference between the average net assets for the reporting and performance periods.

Distribution and Service Plan Fees. In accordance with Rule 12b-1 of the 1940 Act, the Fund has adopted separate Distribution and Service Plans for each class of shares. Certain classes pay Fidelity Distributors Corporation (FDC), an affiliate of the investment adviser, separate Distribution and Service Fees, each of which is based on an annual percentage of each class' average net assets. In addition, FDC may pay financial intermediaries for selling shares of the Fund and providing shareholder support services. For the period, the Distribution and Service Fee rates, total fees and amounts retained by FDC were as follows:

|        | Distribution
Fee | Service
Fee | Total Fees | Retained
by FDC
|------- | ---------------- | ----------- | ---------- | ---------------
|Class A | -%               | .25%        | $	366      | $	7            
|Class T | .25%             | .25%        | 116        | 2              
|Class B | .75%             | .25%        | 20         | 15             
|Class C | .75%             | .25%        | 175        | 20             
|        |                  |             | $	677      | $	44           

Sales Load. FDC may receive a front-end sales charge of up to 5.75% for selling Class A shares and 3.50% for selling Class T shares, some of which is paid to financial intermediaries for selling shares of the Fund. Depending on the holding period, FDC may receive contingent deferred sales charges levied on Class A, Class T, Class B, and Class C redemptions. The deferred sales charges range from 5.00% to 1.00% for Class B shares, 1.00% for Class C shares, 1.00% for certain purchases of Class A shares and .25% for certain purchases of Class T shares.

For the period, sales charge amounts retained by FDC were as follows:

|         | Retained
by FDC
|-------- | ---------------
|Class A  | $	28           
|Class T  | 4              
|Class B* | 1              
|Class C* | 2              
|         | $	35           

*When Class B and Class C shares are initially sold, FDC pays commissions from its own resources to financial intermediaries through which the sales 	are made.

Transfer Agent Fees.Fidelity Investments Institutional Operations Company, Inc., (FIIOC), an affiliate of the investment adviser, is the transfer, dividend disbursing and

Semiannual Report

Notes to Financial Statements (Unaudited) - continued

(Amounts in thousands except percentages)

6. Fees and Other Transactions with Affiliates - continued

Transfer Agent Fees - continued

shareholder servicing agent for each class of the Fund. FIIOC receives account fees and asset-based fees that vary according to the account size and type of account of the shareholders of the respective classes of the Fund, except for Class K and Class Z. FIIOC receives an asset-based fee of Class K's and Class Z's average net assets. FIIOC pays for typesetting, printing and mailing of shareholder reports, except proxy statements.

For the period, transfer agent fees for each class were as follows:

|                        | Amount  | % of
Class-Level Average
Net Assets*
|----------------------- | ------- | ------------------------------------
|Class A                 | $	395   | .27                                 
|Class T                 | 60      | .26                                 
|Class B                 | 6       | .30                                 
|Class C                 | 47      | .27                                 
|International Discovery | 6,558   | .18                                 
|Class K                 | 578     | .05                                 
|Institutional Class     | 722     | .19                                 
|Class Z                 | 8       | .05                                 
|                        | $	8,374 |                                     

*Annualized

Accounting and Security Lending Fees.Fidelity Service Company, Inc. (FSC), an affiliate of the investment adviser, maintains the Fund's accounting records. The accounting fee is based on the level of average net assets for each month. Under a separate contract, FSC administers the security lending program. The security lending fee is based on the number and duration of lending transactions.

Brokerage Commissions.The Fund placed a portion of its portfolio transactions with brokerage firms which are affiliates of the investment adviser. Brokerage commissions are included in net realized gain (loss) and change in net unrealized appreciation (depreciation) in the Statement of Operations. The commissions paid to these affiliated firms were $5 for the period.

7. Committed Line of Credit.

The Fund participates with other funds managed by the investment adviser or an affiliate in a $4.25 billion credit facility (the "line of credit") to be utilized for temporary or emergency purposes to fund shareholder redemptions or for other short-term liquidity purposes. The Fund has agreed to pay commitment fees on its pro-rata portion of the line of credit, which amounted to $9 and is reflected in Miscellaneous expenses on the

Semiannual Report

7. Committed Line of Credit - continued

Statement of Operations. During the period, the Fund did not borrow on this line of credit.

8. Security Lending.

The Fund lends portfolio securities through a lending agent from time to time in order to earn additional income. For equity securities, a lending agent is used and may loan securities to certain qualified borrowers, including Fidelity Capital Markets (FCM), a broker-dealer affiliated with the Fund. On the settlement date of the loan, the Fund receives collateral (in the form of U.S. Treasury obligations, letters of credit and/or cash) against the loaned securities and maintains collateral in an amount not less than 100% of the market value of the loaned securities during the period of the loan. The market value of the loaned securities is determined at the close of business of the Fund and any additional required collateral is delivered to the Fund on the next business day. If the borrower defaults on its obligation to return the securities loaned because of insolvency or other reasons, the Fund may apply collateral received from the borrower against the obligation. The Fund may experience delays and costs in recovering the securities loaned. Any cash collateral received is invested in the Fidelity Securities Lending Cash Central Fund. The value of loaned securities and cash collateral at period end are disclosed on the Fund's Statement of Assets and Liabilities. Security lending income represents the income earned on investing cash collateral, less rebates paid to borrowers and any lending agent fees associated with the loan, plus any premium payments received for lending certain types of securities. Security lending income is presented in the Statement of Operations as a component of income from Fidelity Central Funds. Total security lending income during the period amounted to $1,811. During the period, there were no securities loaned to FCM.

9. Expense Reductions.

Commissions paid to certain brokers with whom the investment adviser, or its affiliates, places trades on behalf of the Fund include an amount in addition to trade execution, which may be rebated back to the Fund to offset certain expenses. This amount totaled $155 for the period.

In addition, the investment adviser reimbursed a portion of the Fund's operating expenses, including certain International Discovery expenses during the period in the amount of $5.

Semiannual Report

Notes to Financial Statements (Unaudited) - continued

(Amounts in thousands except percentages)

10. Distributions to Shareholders.

Distributions to shareholders of each class were as follows:

|                           | Six months ended
April 30,
2015 | Year ended
October 31,
2014
|-------------------------- | ------------------------------- | ---------------------------
|From net investment income |                                 |                            
|Class A                    | $	864                           | $	2,857                    
|Class T                    | 23                              | 344                        
|Class B                    | -                               | 2                          
|Class C                    | -                               | 79                         
|International Discovery    | 49,040                          | 93,065                     
|Class K                    | 19,835                          | 33,983                     
|Institutional Class        | 4,544                           | 5,936                      
|Class Z                    | 283                             | 60                         
|Total                      | $	74,589                        | $	136,326                  
|From net realized gain     |                                 |                            
|Class A                    | $	-                             | $	2,660                    
|Class T                    | -                               | 423                        
|Class B                    | -                               | 52                         
|Class C                    | -                               | 295                        
|International Discovery    | -                               | 61,190                     
|Class K                    | -                               | 20,093                     
|Institutional Class        | -                               | 3,838                      
|Class Z                    | -                               | 35                         
|Total                      | $	-                             | $	88,586                   

11. Share Transactions.

Share transactions for each class were as follows and may contain automatic conversions between classes or exchanges between funds:

|                              | Shares                          | Dollars                    
|----------------------------- | ------------------------------- | ---------------------------
|                              | Six months ended April 30,
2015 | Year ended
October 31,
2014
|Class A                       |                                 |                            
|Shares sold                   | 692                             | 1,382                      
|Reinvestment of distributions | 22                              | 137                        
|Shares redeemed               | (1,000)                         | (2,632)                    
|Net increase (decrease)       | (286)                           | (1,113)                    
|Class T                       |                                 |                            
|Shares sold                   | 96                              | 200                        
|Reinvestment of distributions | 1                               | 19                         
|Shares redeemed               | (215)                           | (311)                      
|Net increase (decrease)       | (118)                           | (92)                       

Semiannual Report

11. Share Transactions - continued

|                              | Shares                          | Dollars                    
|----------------------------- | ------------------------------- | ---------------------------
|                              | Six months ended April 30,
2015 | Year ended
October 31,
2014
|Class B                       |                                 |                            
|Shares sold                   | 1                               | 6                          
|Reinvestment of distributions | -                               | 1                          
|Shares redeemed               | (38)                            | (58)                       
|Net increase (decrease)       | (37)                            | (51)                       
|Class C                       |                                 |                            
|Shares sold                   | 104                             | 232                        
|Reinvestment of distributions | -                               | 9                          
|Shares redeemed               | (119)                           | (250)                      
|Net increase (decrease)       | (15)                            | (9)                        
|International Discovery       |                                 |                            
|Shares sold                   | 10,812                          | 28,809                     
|Reinvestment of distributions | 1,199                           | 3,813                      
|Shares redeemed               | (22,134)                        | (37,231)                   
|Net increase (decrease)       | (10,123)                        | (4,609)                    
|Class K                       |                                 |                            
|Shares sold                   | 8,328                           | 15,775                     
|Reinvestment of distributions | 508                             | 1,396                      
|Shares redeemed               | (10,794)A                       | (18,729)                   
|Net increase (decrease)       | (1,958)                         | (1,558)                    
|Institutional Class           |                                 |                            
|Shares sold                   | 7,532                           | 10,468                     
|Reinvestment of distributions | 33                              | 91                         
|Shares redeemed               | (2,496)                         | (5,852)                    
|Net increase (decrease)       | 5,069                           | 4,707                      
|Class Z                       |                                 |                            
|Shares sold                   | 153                             | 993                        
|Reinvestment of distributions | 7                               | 2                          
|Shares redeemed               | (95)                            | (96)                       
|Net increase (decrease)       | 65                              | 899                        

AAmount includes in-kind redemptions (see Note 5: Redemptions In-Kind).

Semiannual Report

Notes to Financial Statements (Unaudited) - continued

(Amounts in thousands except percentages)

12. Other.

The Fund's organizational documents provide former and current trustees and officers with a limited indemnification against liabilities arising in connection with the performance of their duties to the Fund. In the normal course of business, the Fund may also enter into contracts that provide general indemnifications. The Fund's maximum exposure under these arrangements is unknown as this would be dependent on future claims that may be made against the Fund. The risk of material loss from such claims is considered remote.

At the end of the period, Strategic Advisers International Fund was the owner of record of approximately 13% of the total outstanding shares of the Fund.

Semiannual Report

Investment Adviser

Fidelity Management & Research Company
Boston, MA

Investment Sub-Advisers

FMR Co., Inc.

FMR Investment Management 
	(U.K.) Limited

FIL Investment Advisors

FIL Investments (Japan) Limited

FIL Investment Advisors (U.K.) Limited
Fidelity Management & Research
	(Hong Kong) Limited
Fidelity Management & Research 
	(Japan) Limited

General Distributor

Fidelity Distributors Corporation
Smithfield, RI

Transfer and Service Agents

Fidelity Investments Institutional
	Operations Company, Inc.
Boston, MA

Fidelity Service Company, Inc.
Boston, MA

Custodian

The Northern Trust Company
Chicago, IL

The Fidelity Telephone Connection

Mutual Fund 24-Hour Service

Exchanges/Redemptions 
	and Account Assistance	1-800-544-6666

Product Information	1-800-544-8888

Retirement Accounts	1-800-544-4774 
	(8 a.m. - 9 p.m.)

TDD Service	1-800-544-0118
	for the deaf and hearing impaired
	(9 a.m. - 9 p.m. Eastern time)

Fidelity Automated Service  
	Telephone (FAST®)  int1141	1-800-544-5555

int1143	Automated line for quickest service

(Fidelity Investment logo)(registered trademark)Corporate Headquarters245 Summer St., Boston, MA 02210www.fidelity.com

`IGI-USAN-0615
1.807260.110`

Fidelity®

International Discovery

Fund -Class K

Semiannual Report

April 30, 2015(Fidelity Cover Art)

---

# Contents

|Shareholder Expense Example | (Click Here) | An example of shareholder expenses.                                                                          
|--------------------------- | ------------ | -------------------------------------------------------------------------------------------------------------
|Investment Changes          | (Click Here) | A summary of major shifts in the fund's investments over the past six months.                                
|Investments                 | (Click Here) | A complete list of the fund's investments with their market values.                                          
|Financial Statements        | (Click Here) | Statements of assets and liabilities, operations, and changes in net assets, as well as financial highlights.
|Notes                       | (Click Here) | Notes to the financial statements.                                                                           

To view a fund's proxy voting guidelines and proxy voting record for the 12-month period ended June 30, visit http://www.fidelity.com/proxyvotingresults or visit the Securities and Exchange Commission's (SEC) web site at http://www.sec.gov. You may also call 1-800-835-5092 to request a free copy of the proxy voting guidelines.

Standard & Poor's, S&P and S&P 500 are registered service marks of The McGraw-Hill Companies, Inc. and have been licensed for use by Fidelity Distributors Corporation.

Other third-party marks appearing herein are the property of their respective owners.

All other marks appearing herein are registered or unregistered trademarks or service marks of FMR LLC or an affiliated company. © 2015 FMR LLC. All rights reserved.

This report and the financial statements contained herein are submitted for the general information of the shareholders of the fund. This report is not authorized for distribution to prospective investors in the fund unless preceded or accompanied by an effective prospectus.

A fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-Q. Forms N-Q are available on the SEC's web site at http://www.sec.gov.A fund's Forms N-Q may be reviewed and copied at the SEC's Public Reference Room in Washington, DC. Information regarding the operation of the SEC's Public Reference Room may be obtained by calling 1-800-SEC-0330. For a complete list of a fund's portfolio holdings, view the most recent holdings listing, semiannual report, or annual report on Fidelity's web site at http://www.fidelity.com, http://www.advisor.fidelity.com, or http://www.401k.com, as applicable.

NOT FDIC INSURED • MAY LOSE VALUE • NO BANK GUARANTEE

Neither the fund nor Fidelity Distributors Corporation is a bank.

Semiannual Report

---

# Shareholder Expense Example

As a shareholder of the Fund, you incur two types of costs: (1) transaction costs, including sales charges (loads) on purchase payments or redemption proceeds, redemption fees and (2) ongoing costs, including management fees, distribution and/or service (12b-1) fees and other Fund expenses. This Example is intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds.

The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (November 1, 2014 to April 30, 2015).

Actual Expenses

The first line of the accompanying table for each class of the Fund provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000.00 (for example, an $8,600 account value divided by $1,000.00 = 8.6), then multiply the result by the number in the first line for a class of the Fund under the heading entitled "Expenses Paid During Period" to estimate the expenses you paid on your account during this period. A small balance maintenance fee of $12.00 that is charged once a year may apply for certain accounts with a value of less than $2,000. This fee is not included in the table below. If it was, the estimate of expenses you paid during the period would be higher, and your ending account value lower, by this amount. In addition, the Fund, as a shareholder in the underlying Fidelity Central Funds, will indirectly bear its pro-rata share of the fees and expenses incurred by the underlying Fidelity Central Funds. These fees and expenses are not included in the Fund's annualized expense ratio used to calculate the expense estimate in the table below.

Hypothetical Example for Comparison Purposes

The second line of the accompanying table for each class of the Fund provides information about hypothetical account values and hypothetical expenses based on a Class' actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Class' actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds. A small balance maintenance fee of $12.00 that is charged once a year may apply for certain accounts with a value of less than $2,000. This fee is not included in the table below. If it was, the estimate of expenses you paid during the period would be higher, and your ending account value lower, by this amount. In addition, the Fund, as a shareholder in the underlying Fidelity Central Funds, will indirectly bear its pro-rata share of the fees and expenses incurred by the underlying Fidelity Central Funds. These fees and expenses are not included in the Fund's annualized expense ratio used to calculate the expense estimate in the table below.

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transaction costs. Therefore, the second line of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.

Semiannual Report

Shareholder Expense Example - continued

|                        | Annualized
Expense RatioB | Beginning
Account Value
November 1, 2014 | Ending
Account Value
April 30, 2015 | Expenses Paid
During Period*November 1, 2014
to April 30, 2015
|----------------------- | ------------------------- | ---------------------------------------- | ----------------------------------- | --------------------------------------------------------------
|Class A                 | 1.33%                     |                                          |                                     |                                                               
|Actual                  |                           | $	1,000.00                               | $	1,067.40                          | $	6.82                                                        
|HypotheticalA           |                           | $	1,000.00                               | $	1,018.20                          | $	6.66                                                        
|Class T                 | 1.57%                     |                                          |                                     |                                                               
|Actual                  |                           | $	1,000.00                               | $	1,066.10                          | $	8.04                                                        
|HypotheticalA           |                           | $	1,000.00                               | $	1,017.01                          | $	7.85                                                        
|Class B                 | 2.11%                     |                                          |                                     |                                                               
|Actual                  |                           | $	1,000.00                               | $	1,063.40                          | $	10.79                                                       
|HypotheticalA           |                           | $	1,000.00                               | $	1,014.33                          | $	10.54                                                       
|Class C                 | 2.08%                     |                                          |                                     |                                                               
|Actual                  |                           | $	1,000.00                               | $	1,063.50                          | $	10.64                                                       
|HypotheticalA           |                           | $	1,000.00                               | $	1,014.48                          | $	10.39                                                       
|International Discovery | .99%                      |                                          |                                     |                                                               
|Actual                  |                           | $	1,000.00                               | $	1,069.20                          | $	5.08                                                        
|HypotheticalA           |                           | $	1,000.00                               | $	1,019.89                          | $	4.96                                                        
|Class K                 | .86%                      |                                          |                                     |                                                               
|Actual                  |                           | $	1,000.00                               | $	1,070.30                          | $	4.41                                                        
|HypotheticalA           |                           | $	1,000.00                               | $	1,020.53                          | $	4.31                                                        
|Institutional Class     | 1.00%                     |                                          |                                     |                                                               
|Actual                  |                           | $	1,000.00                               | $	1,069.30                          | $	5.13                                                        
|HypotheticalA           |                           | $	1,000.00                               | $	1,019.84                          | $	5.01                                                        
|Class Z                 | .86%                      |                                          |                                     |                                                               
|Actual                  |                           | $	1,000.00                               | $	1,070.00                          | $	4.41                                                        
|HypotheticalA           |                           | $	1,000.00                               | $	1,020.53                          | $	4.31                                                        

A5% return per year before expenses

BAnnualized expense ratio reflects expenses net of applicable fee waivers.

*Expenses are equal to each Class' annualized expense ratio, multiplied by the average account value over the period, multiplied by 181/365 (to reflect the one-half year period).

Semiannual Report

---

# Investment Changes (Unaudited)

|Geographic Diversification (% of fund's net assets)
|---------------------------------------------------
|As of April 30, 2015                               
|int1150                                            
|int1152                                            
|int1154                                            
|int1156                                            
|int1158                                            
|int1160                                            
|int1162                                            
|int1164                                            
|int1166                                            
|int1168                                            

int1170

|*Includes Short-Term Investments and Net Other Assets (Liabilities).                                                               
|-----------------------------------------------------------------------------------------------------------------------------------
|Percentages are based on country or territory of incorporation and are adjusted for the effect of futures contracts, if applicable.

|As of October 31, 2014
|----------------------
|int1172               
|int1174               
|int1176               
|int1178               
|int1180               
|int1182               
|int1184               
|int1186               
|int1188               
|int1190               

int1192

|*Includes Short-Term Investments and Net Other Assets (Liabilities).                                                               
|-----------------------------------------------------------------------------------------------------------------------------------
|Percentages are based on country or territory of incorporation and are adjusted for the effect of futures contracts, if applicable.

|Asset Allocation as of April 30, 2015                                        
|-----------------------------------------------------------------------------
|                                                                             
|Stocks and Equity Futures                                                    
|Other Investments                                                            
|Short-Term Investments and Net Other Assets (Liabilities)                    
|Top Ten Stocks as of April 30, 2015                                          
|                                                                             
|Total SA (France, Oil, Gas & Consumable Fuels)                               
|Novartis AG (Switzerland, Pharmaceuticals)                                   
|Anheuser-Busch InBev SA NV (Belgium, Beverages)                              
|Unilever NV (Certificaten Van Aandelen) (Bearer) (Netherlands, Food Products)
|AIA Group Ltd. (Hong Kong, Insurance)                                        
|Techtronic Industries Co. Ltd. (Hong Kong, Household Durables)               
|Shire PLC (Bailiwick of Jersey, Pharmaceuticals)                             
|Housing Development Finance Corp. Ltd. (India, Thrifts & Mortgage Finance)   
|Astellas Pharma, Inc. (Japan, Pharmaceuticals)                               
|Australia & New Zealand Banking Group Ltd. (Australia, Banks)                
|                                                                             
|Market Sectors as of April 30, 2015                                          
|                                                                             
|Financials                                                                   
|Consumer Discretionary                                                       
|Health Care                                                                  
|Industrials                                                                  
|Information Technology                                                       
|Consumer Staples                                                             
|Energy                                                                       
|Telecommunication Services                                                   
|Materials                                                                    
|Utilities                                                                    

Semiannual Report

---

# Investments April 30, 2015 (Unaudited)

Showing Percentage of Net Assets

|Common Stocks - 96.1%                                
|-----------------------------------------------------
|                                                     
|Australia - 2.8%                                     
|Ansell Ltd.                                          
|Australia & New Zealand Banking Group Ltd.           
|Flight Centre Travel Group Ltd. (e)                  
|G8 Education Ltd.                                    
|Greencross Ltd.                                      
|Mantra Group Ltd.                                    
|Ramsay Health Care Ltd.                              
|Spotless Group Holdings Ltd.                         
|TOTAL AUSTRALIA                                      
|Austria - 0.2%                                       
|Andritz AG                                           
|Bailiwick of Jersey - 2.2%                           
|MySale Group PLC (f)                                 
|Regus PLC                                            
|Shire PLC                                            
|Wolseley PLC                                         
|TOTAL BAILIWICK OF JERSEY                            
|Belgium - 2.7%                                       
|Anheuser-Busch InBev SA NV                           
|KBC Groep NV                                         
|TOTAL BELGIUM                                        
|Bermuda - 1.3%                                       
|BW Offshore Ltd.                                     
|Haier Electronics Group Co. Ltd.                     
|PAX Global Technology Ltd. (a)(f)                    
|Travelport Worldwide Ltd. (e)                        
|TOTAL BERMUDA                                        
|Canada - 2.5%                                        
|Alimentation Couche-Tard, Inc. Class B (sub. vtg.)   
|Constellation Software, Inc.                         
|Constellation Software, Inc. rights 9/15/15 (a)      
|Imperial Oil Ltd.                                    
|Potash Corp. of Saskatchewan, Inc.                   
|PrairieSky Royalty Ltd. (e)                          
|Suncor Energy, Inc.                                  
|TransForce, Inc.                                     
|TOTAL CANADA                                         
|Common Stocks - continued                            
|                                                     
|Cayman Islands - 0.8%                                
|Alibaba Group Holding Ltd. sponsored ADR             
|Lee's Pharmaceutical Holdings Ltd.                   
|Value Partners Group Ltd.                            
|WuXi PharmaTech Cayman, Inc. sponsored ADR (a)       
|TOTAL CAYMAN ISLANDS                                 
|China - 1.0%                                         
|Daqin Railway Co. Ltd. (A Shares)                    
|Inner Mongoli Yili Industries Co. Ltd.               
|Jiangsu Hengrui Medicine Co. Ltd.                    
|Kweichow Moutai Co. Ltd.                             
|Yantai Changyu Pioneer Wine Co. Ltd. (B Shares)      
|TOTAL CHINA                                          
|Cyprus - 0.0%                                        
|SPDI Secure Property Development & Investment PLC (a)
|Denmark - 1.3%                                       
|Novo Nordisk A/S Series B                            
|Vestas Wind Systems A/S                              
|TOTAL DENMARK                                        
|Egypt - 0.0%                                         
|Edita Food Industries SAE GDR (a)(g)                 
|Finland - 0.7%                                       
|Sampo Oyj (A Shares)                                 
|France - 8.0%                                        
|Accor SA                                             
|Air Liquide SA                                       
|AXA SA                                               
|BNP Paribas SA                                       
|Cap Gemini SA                                        
|Havas SA                                             
|Ingenico SA                                          
|Numericable Group SA (a)                             
|Rexel SA                                             
|Safran SA                                            
|Schneider Electric SA (e)                            
|Sodexo SA (a)                                        
|SR Teleperformance SA                                
|Total SA                                             
|Common Stocks - continued                            
|                                                     
|France - continued                                   
|Unibail-Rodamco                                      
|Zodiac Aerospace                                     
|TOTAL FRANCE                                         
|Germany - 5.3%                                       
|Aareal Bank AG                                       
|Bayer AG                                             
|Beiersdorf AG                                        
|Continental AG (e)                                   
|Deutsche Annington Immobilien SE                     
|Deutsche Boerse AG                                   
|Deutsche Telekom AG                                  
|Fresenius SE & Co. KGaA                              
|GEA Group AG                                         
|KION Group AG                                        
|LEG Immobilien AG                                    
|ProSiebenSat.1 Media AG                              
|TOTAL GERMANY                                        
|Hong Kong - 2.7%                                     
|AIA Group Ltd.                                       
|Hutchison Whampoa Ltd.                               
|Techtronic Industries Co. Ltd.                       
|TOTAL HONG KONG                                      
|India - 3.6%                                         
|Bharti Infratel Ltd.                                 
|Edelweiss Financial Services Ltd.                    
|HDFC Bank Ltd. sponsored ADR                         
|Housing Development Finance Corp. Ltd.               
|Info Edge India Ltd.                                 
|Lupin Ltd.                                           
|Sun Pharmaceutical Industries Ltd. (a)               
|The Jammu & Kashmir Bank Ltd.                        
|Titan Co. Ltd. (a)                                   
|Yes Bank Ltd.                                        
|TOTAL INDIA                                          
|Indonesia - 0.4%                                     
|PT Bank Central Asia Tbk                             
|PT Bank Rakyat Indonesia Tbk                         
|TOTAL INDONESIA                                      
|Common Stocks - continued                            
|                                                     
|Ireland - 2.2%                                       
|Actavis PLC (a)                                      
|Bank of Ireland (a)                                  
|Glanbia PLC                                          
|James Hardie Industries PLC CDI                      
|Kerry Group PLC Class A                              
|TOTAL IRELAND                                        
|Isle of Man - 0.3%                                   
|Optimal Payments PLC (a)                             
|Optimal Payments PLC rights 5/1/15 (a)               
|Playtech Ltd.                                        
|TOTAL ISLE OF MAN                                    
|Israel - 0.8%                                        
|Frutarom Industries Ltd.                             
|Teva Pharmaceutical Industries Ltd. sponsored ADR    
|TOTAL ISRAEL                                         
|Italy - 2.5%                                         
|De Longhi SpA                                        
|Intesa Sanpaolo SpA                                  
|Mediaset SpA                                         
|Telecom Italia SpA (a)                               
|World Duty Free SpA (a)                              
|TOTAL ITALY                                          
|Japan - 15.3%                                        
|ACOM Co. Ltd. (a)                                    
|Aozora Bank Ltd.                                     
|Astellas Pharma, Inc.                                
|Coca-Cola Central Japan Co. Ltd.                     
|Dentsu, Inc.                                         
|Don Quijote Holdings Co. Ltd.                        
|Hitachi Ltd.                                         
|Hoya Corp.                                           
|Japan Exchange Group, Inc.                           
|Japan Tobacco, Inc.                                  
|KDDI Corp.                                           
|Keyence Corp.                                        
|Misumi Group, Inc.                                   
|Mitsubishi UFJ Financial Group, Inc.                 
|Monex Group, Inc.                                    
|NEC Corp.                                            
|Common Stocks - continued                            
|                                                     
|Japan - continued                                    
|Nidec Corp.                                          
|Olympus Corp. (a)                                    
|OMRON Corp.                                          
|ORIX Corp.                                           
|Rakuten, Inc.                                        
|Sanken Electric Co. Ltd.                             
|Seven Bank Ltd.                                      
|SoftBank Corp.                                       
|Sony Corp.                                           
|Sundrug Co. Ltd.                                     
|Toshiba Plant Systems & Services Corp.               
|Tsuruha Holdings, Inc.                               
|United Arrows Ltd.                                   
|VT Holdings Co. Ltd.                                 
|TOTAL JAPAN                                          
|Korea (South) - 0.3%                                 
|Samsung Electronics Co. Ltd.                         
|Luxembourg - 1.0%                                    
|Altice SA (a)                                        
|Eurofins Scientific SA                               
|Grand City Properties SA (a)                         
|TOTAL LUXEMBOURG                                     
|Marshall Islands - 0.1%                              
|Hoegh LNG Partners LP (f)                            
|Netherlands - 4.6%                                   
|AerCap Holdings NV (a)                               
|Arcadis NV                                           
|ASML Holding NV (Netherlands)                        
|IMCD Group BV                                        
|ING Groep NV (Certificaten Van Aandelen)             
|Mobileye NV (a)(e)                                   
|Unilever NV (Certificaten Van Aandelen) (Bearer)     
|TOTAL NETHERLANDS                                    
|New Zealand - 0.7%                                   
|EBOS Group Ltd.                                      
|Ryman Healthcare Group Ltd.                          
|TOTAL NEW ZEALAND                                    
|Common Stocks - continued                            
|                                                     
|Philippines - 0.7%                                   
|Alliance Global Group, Inc.                          
|SM Investments Corp.                                 
|TOTAL PHILIPPINES                                    
|South Africa - 1.0%                                  
|EOH Holdings Ltd.                                    
|Naspers Ltd. Class N                                 
|TOTAL SOUTH AFRICA                                   
|Spain - 1.9%                                         
|Amadeus IT Holding SA Class A                        
|Atresmedia Corporacion de Medios de Comunicacion SA  
|Hispania Activos Inmobiliarios SA (a)                
|Inditex SA                                           
|Mediaset Espana Comunicacion, S.A.                   
|TOTAL SPAIN                                          
|Sweden - 2.1%                                        
|ASSA ABLOY AB (B Shares)                             
|HEXPOL AB (B Shares)                                 
|Nordea Bank AB                                       
|Svenska Handelsbanken AB (A Shares)                  
|TOTAL SWEDEN                                         
|Switzerland - 5.5%                                   
|Clariant AG (Reg.)                                   
|GAM Holding Ltd.                                     
|Julius Baer Group Ltd.                               
|Lonza Group AG                                       
|Novartis AG                                          
|Partners Group Holding AG                            
|Schindler Holding AG (participation certificate)     
|Sonova Holding AG Class B                            
|UBS Group AG                                         
|TOTAL SWITZERLAND                                    
|Taiwan - 0.8%                                        
|ECLAT Textile Co. Ltd.                               
|JHL Biotech, Inc. (j)                                
|Merida Industry Co. Ltd.                             
|Taiwan Semiconductor Manufacturing Co. Ltd.          
|TOTAL TAIWAN                                         
|Common Stocks - continued                            
|                                                     
|Turkey - 0.1%                                        
|Logo Yazilim Sanayi Ve Ticar                         
|United Kingdom - 18.0%                               
|AA PLC                                               
|Aberdeen Asset Management PLC                        
|Al Noor Hospitals Group PLC                          
|Associated British Foods PLC                         
|Aviva PLC                                            
|B&M European Value Retail S.A.                       
|BG Group PLC                                         
|British American Tobacco PLC (United Kingdom)        
|BT Group PLC                                         
|BTG PLC (a)                                          
|Bunzl PLC                                            
|Diploma PLC                                          
|Essentra PLC                                         
|Hikma Pharmaceuticals PLC                            
|Howden Joinery Group PLC                             
|HSBC Holdings PLC (United Kingdom)                   
|Imperial Tobacco Group PLC                           
|ITE Group PLC                                        
|ITV PLC                                              
|Johnson Matthey PLC                                  
|Liberty Global PLC Class A (a)                       
|Lloyds Banking Group PLC                             
|London Stock Exchange Group PLC                      
|Meggitt PLC                                          
|Melrose PLC                                          
|Next PLC                                             
|Persimmon PLC                                        
|Poundland Group PLC                                  
|Reckitt Benckiser Group PLC                          
|Rex Bionics PLC (a)(f)                               
|Rio Tinto PLC                                        
|Royal Dutch Shell PLC Class A (United Kingdom)       
|SABMiller PLC                                        
|Schroders PLC                                        
|Shawbrook Group Ltd.                                 
|Spirax-Sarco Engineering PLC                         
|St. James's Place Capital PLC                        
|Taylor Wimpey PLC                                    
|The Restaurant Group PLC                             
|Virgin Money Holdings Uk PLC (a)                     
|Common Stocks - continued                            
|                                                     
|United Kingdom - continued                           
|Vodafone Group PLC                                   
|Whitbread PLC                                        
|Workspace Group PLC                                  
|TOTAL UNITED KINGDOM                                 
|United States of America - 2.7%                      
|Chevron Corp.                                        
|Constellation Brands, Inc. Class A (sub. vtg.) (a)   
|McGraw Hill Financial, Inc.                          
|Monster Beverage Corp. (a)                           
|Visa, Inc. Class A                                   
|TOTAL UNITED STATES OF AMERICA                       
|TOTAL COMMON STOCKS
(Cost $9,169,054)                
|Preferred Stocks - 1.3%                              
|                                                     
|Convertible Preferred Stocks - 0.2%                  
|Cayman Islands - 0.2%                                
|Meituan Corp. Series D (j)                           
|Nonconvertible Preferred Stocks - 1.1%               
|Germany - 1.1%                                       
|Henkel AG & Co. KGaA                                 
|Volkswagen AG (e)                                    
|TOTAL GERMANY                                        
|TOTAL PREFERRED STOCKS
(Cost $123,294)               

|Government Obligations - 0.1%                                                                    
|-------------------------------------------------------------------------------------------------
|                                                                                                 
|United States of America - 0.1%                                                                  
|U.S. Treasury Bills, yield at date of purchase 0.01% to 0.02% 5/7/15 to 5/14/15 (i)
(Cost $7,710)
|Preferred Securities - 0.1%                                                                      
|                                                                                                 
|Ireland - 0.1%                                                                                   
|Baggot Securities Ltd. 10.24% (g)(h)
(Cost $13,883)                                              

|Money Market Funds - 3.5%                                  
|-----------------------------------------------------------
|                                                           
|Fidelity Cash Central Fund, 0.15% (b)                      
|Fidelity Securities Lending Cash Central Fund, 0.17% (b)(c)
|TOTAL MONEY MARKET FUNDS
(Cost $402,598)                   
|TOTAL INVESTMENT PORTFOLIO - 101.1%
(Cost $9,716,539)      
|NET OTHER ASSETS (LIABILITIES) - (1.1)%                    
|NET ASSETS - 100%                                          

|Futures Contracts                                   
|----------------------------------------------------
|                                                    
|Purchased                                           
|Equity Index Contracts                              
|2,033 CME Nikkei 225 Index Contracts (United States)

|The face value of futures purchased as a percentage of net assets is 1.7%                                                   
|----------------------------------------------------------------------------------------------------------------------------
|For the period, the average monthly underlying face amount at value for futures contracts in the aggregate was $256,259,000.

|Currency Abbreviations
|----------------------
|EUR                   

|Legend                                                                                                                                                                                                                                                                                                                                                                                                                                           
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|(a)	Non-income producing                                                                                                                                                                                                                                                                                                                                                                                                                         
|(b)	Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.
|(c)	Investment made with cash collateral received from securities on loan.                                                                                                                                                                                                                                                                                                                                                                       
|(d)	Amount is stated in United States dollars unless otherwise noted.                                                                                                                                                                                                                                                                                                                                                                            
|(e)	Security or a portion of the security is on loan at period end.                                                                                                                                                                                                                                                                                                                                                                              
|(f)	Affiliated company                                                                                                                                                                                                                                                                                                                                                                                                                           
|(g)	Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $13,136,000 or 0.1% of net assets.                                                                                                                                 
|(h)	Security is perpetual in nature with no stated maturity date.                                                                                                                                                                                                                                                                                                                                                                                
|(i)	Security or a portion of the security was pledged to cover margin requirements for futures contracts. At period end, the value of securities pledged amounted to $7,496,000.                                                                                                                                                                                                                                                                 
|(j)	Restricted securities - Investment in securities not registered under the Securities Act of 1933 (excluding 144A issues). At the end of the period, the value of restricted securities (excluding 144A issues) amounted to $31,387,000 or 0.3% of net assets.                                                                                                                                                                                
|Additional information on each restricted holding is as follows:                                                                                                                                                                                                                                                                                                                                                                                 

|Security               | Acquisition Date | Acquisition Cost (000s)
|---------------------- | ---------------- | -----------------------
|JHL Biotech, Inc.      | 4/14/15          | $	9,342                
|Meituan Corp. Series D | 1/26/15          | $	18,833               

|Affiliated Central Funds                                                                                                     
|-----------------------------------------------------------------------------------------------------------------------------
|Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:

|Fund                                          | Income earned
(Amounts in thousands)
|--------------------------------------------- | ------------------------------------
|Fidelity Cash Central Fund                    | $	343                               
|Fidelity Securities Lending Cash Central Fund | 1,811                               
|Total                                         | $	2,154                             

|Other Affiliated Issuers                                                                                                                                                                                
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|An affiliated company is a company in which the Fund has ownership of at least 5% of the voting securities. Fiscal year to date transactions with companies which are or were affiliates are as follows:

|Affiliate
(Amounts in thousands) | Value, beginning of period | Purchases | Sales
Proceeds* | Dividend
Income | Value,
end of
period
|-------------------------------- | -------------------------- | --------- | --------------- | --------------- | --------------------
|Hoegh LNG Partners LP            | $	12,426                   | $	2,837   | $	130           | $	271           | $	15,679            
|MySale Group PLC                 | 26,053                     | -         | 61              | -               | 7,138               
|PAX Global Technology Ltd.       | 71,203                     | 795       | 600             | -               | 97,048              
|Rex Bionics PLC                  | 3,518                      | -         | 12              | -               | 1,263               
|Total                            | $	113,200                  | $	3,632   | $	803           | $	271           | $	121,128           

* Includes the value of securities delivered through in-kind transactions.

|Other Information                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|Categorizations in the Schedule of Investments are based on country or territory of incorporation.                                                                                                                                                                                                                                                                                                                                                                                             
|The following is a summary of the inputs used, as of April 30, 2015, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the tables below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

|Valuation Inputs at Reporting Date:
|-----------------------------------
|Description
(Amounts in thousands) 
|Investments in Securities:         
|Equities:                          
|Consumer Discretionary             
|Consumer Staples                   
|Energy                             
|Financials                         
|Health Care                        
|Industrials                        
|Information Technology             
|Materials                          
|Telecommunication Services         
|Government Obligations             
|Valuation Inputs at Reporting Date:
|Description
(Amounts in thousands) 
|Investments in Securities:         
|Equities:                          
|Preferred Securities               
|Money Market Funds                 
|Total Investments in Securities:   
|Derivative Instruments:            
|Assets                             
|Futures Contracts                  

|The following is a summary of transfers between Level 1 and Level 2 for the period endedApril 30, 2015. Transfers are assumed to have occurred at the beginning of the period, and are primarily attributable to the valuation techniques used for foreign equity securities, as discussed in the accompanying Notes to Financial Statements:
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|Transfers          | Total (000s)
|------------------ | ------------
|Level 1 to Level 2 | $	3,100,351 
|Level 2 to Level 1 | $	1,239,771 

|Value of Derivative Instruments                                                                                                                                                                                                                                                          
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|The following table is a summary of the Fund's value of derivative instruments by primary risk exposure as of April 30, 2015. For additional information on derivative instruments, please refer to the Derivative Instruments section in the accompanying Notes to Financial Statements.

|Primary Risk Exposure /Derivative Type | Value (000s)
|-------------------------------------- | ------------
|                                       | Asset       
|Equity Risk                            |             
|Futures Contracts (a)                  | $	5,906     
|Total Value of Derivatives             | $	5,906     

|(a) Reflects gross cumulative appreciation (depreciation) on futures contracts as presented in the Schedule of Investments. Only the period end receivable or payable for daily variation margin and net unrealized appreciation (depreciation) are presented in the Statement of Assets and Liabilities.
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

---

# Financial Statements

## Statement of Assets and Liabilities

|Amounts in thousands (except per-share amounts)                                                                                                  | April 30, 2015 (Unaudited)
|------------------------------------------------------------------------------------------------------------------------------------------------ | --------------------------
|                                                                                                                                                 |                           
|Assets                                                                                                                                           |                           
|Investment in securities, at value (including securities loaned of $169,755) - See accompanying schedule:
Unaffiliated issuers (cost $9,224,668) | $	10,974,157              
|Fidelity Central Funds (cost $402,598)                                                                                                           | 402,598                   
|Other affiliated issuers (cost $89,273)                                                                                                          | 121,128                   
|Total Investments (cost $9,716,539)                                                                                                              |                           
|Foreign currency held at value (cost $4,728)                                                                                                     |                           
|Receivable for investments sold                                                                                                                  |                           
|Receivable for fund shares sold                                                                                                                  |                           
|Dividends receivable                                                                                                                             |                           
|Distributions receivable from Fidelity Central Funds                                                                                             |                           
|Prepaid expenses                                                                                                                                 |                           
|Other receivables                                                                                                                                |                           
|Total assets                                                                                                                                     |                           
|                                                                                                                                                 |                           
|Liabilities                                                                                                                                      |                           
|Payable for investments purchased                                                                                                                | $	67,420                  
|Payable for fund shares redeemed                                                                                                                 | 15,030                    
|Accrued management fee                                                                                                                           | 6,812                     
|Distribution and service plan fees payable                                                                                                       | 117                       
|Payable for daily variation margin for derivative instruments                                                                                    | 4,015                     
|Other affiliated payables                                                                                                                        | 1,583                     
|Other payables and accrued expenses                                                                                                              | 5,620                     
|Collateral on securities loaned, at value                                                                                                        | 178,390                   
|Total liabilities                                                                                                                                |                           
|                                                                                                                                                 |                           
|Net Assets                                                                                                                                       |                           
|Net Assets consist of:                                                                                                                           |                           
|Paid in capital                                                                                                                                  |                           
|Undistributed net investment income                                                                                                              |                           
|Accumulated undistributed net realized gain (loss) on investments and foreign currency transactions                                              |                           
|Net unrealized appreciation (depreciation) on investments and assets and liabilities in foreign currencies                                       |                           
|Net Assets                                                                                                                                       |                           

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Statement of Assets and Liabilities - continued

|Amounts in thousands (except per-share amounts)                                                                               | April 30, 2015 (Unaudited)
|----------------------------------------------------------------------------------------------------------------------------- | --------------------------
|                                                                                                                              |                           
|Calculation of Maximum Offering Price
Class A:
Net Asset Valueand redemption price per share ($304,057.33 ÷ 7,381.512 shares) |                           
|                                                                                                                              |                           
|Maximum offering price per share (100/94.25 of $41.19)                                                                        |                           
|Class T:
Net Asset Value and redemption price per share ($46,880.10 ÷ 1,144.698 shares)                                       |                           
|                                                                                                                              |                           
|Maximum offering price per share (100/96.50 of $40.95)                                                                        |                           
|Class B:
Net Asset Value and offering price per share ($3,368.75 ÷ 82.673 shares)A                                            |                           
|                                                                                                                              |                           
|Class C:
Net Asset Value and offering price per share ($36,977.48 ÷ 909.094 shares)A                                          |                           
|                                                                                                                              |                           
|International Discovery:
Net Asset Value, offering price and redemption price per share ($7,509,970.46 ÷ 181,122.244 shares)  |                           
|                                                                                                                              |                           
|Class K:
Net Asset Value, offering price and redemption price per share ($2,535,160.10 ÷ 61,270.682 shares)                   |                           
|                                                                                                                              |                           
|Institutional Class:
Net Asset Value, offering price and redemption price per share ($899,960.61 ÷ 21,750.815 shares)         |                           
|                                                                                                                              |                           
|Class Z:
Net Asset Value, offering price and redemption price per share ($39,986.32 ÷ 966.930 shares)                         |                           

ARedemption price per share is equal to net asset value less any applicable contingent deferred sales charge.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

Financial Statements - continued

## Statement of Operations

|Amounts in thousands 	Six months ended April 30, 2015 (Unaudited)                                                                   
|------------------------------------------------------------------------------------------------------------------------------------
|                                                                                                                                    
|Investment Income                                                                                                                   
|Dividends (including $271 earned from other affiliated issuers)                                                                     
|Interest                                                                                                                            
|Income from Fidelity Central Funds                                                                                                  
|Income before foreign taxes withheld                                                                                                
|Less foreign taxes withheld                                                                                                         
|Total income                                                                                                                        
|                                                                                                                                    
|Expenses                                                                                                                            
|Management fee
Basic fee                                                                                                            
|Performance adjustment                                                                                                              
|Transfer agent fees                                                                                                                 
|Distribution and service plan fees                                                                                                  
|Accounting and security lending fees                                                                                                
|Custodian fees and expenses                                                                                                         
|Independent trustees' compensation                                                                                                  
|Registration fees                                                                                                                   
|Audit                                                                                                                               
|Legal                                                                                                                               
|Miscellaneous                                                                                                                       
|Total expenses before reductions                                                                                                    
|Expense reductions                                                                                                                  
|Net investment income (loss)                                                                                                        
|Realized and Unrealized Gain (Loss)
Net realized gain (loss) on:                                                                    
|Investment securities:                                                                                                              
|Unaffiliated issuers                                                                                                                
|Other affiliated issuers                                                                                                            
|Foreign currency transactions                                                                                                       
|Futures contracts                                                                                                                   
|Total net realized gain (loss)                                                                                                      
|Change in net unrealized appreciation (depreciation) on:
Investment securities (net of decrease in deferred foreign taxes of $2,662)
|Assets and liabilities in foreign currencies                                                                                        
|Futures contracts                                                                                                                   
|Total change in net unrealized appreciation (depreciation)                                                                          
|Net gain (loss)                                                                                                                     
|Netincrease (decrease) in net assets resulting from operations                                                                      

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Statement of Changes in Net Assets

|Amounts in thousands                                                                                                                      | Six months ended April 30, 2015 (Unaudited) | Year ended
October 31,
2014
|----------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------------------- | ---------------------------
|Increase (Decrease) in Net Assets                                                                                                         |                                             |                            
|Operations                                                                                                                                |                                             |                            
|Net investment income (loss)                                                                                                              | $	49,711                                    | $	199,098                  
|Net realized gain (loss)                                                                                                                  | 236,783                                     | 758,004                    
|Change in net unrealized appreciation (depreciation)                                                                                      | 464,328                                     | (958,756)                  
|Netincrease (decrease) in net assets resulting from operations                                                                            | 750,822                                     | (1,654)                    
|Distributions to shareholders from net investment income                                                                                  | (74,589)                                    | (136,326)                  
|Distributions to shareholders from net realized gain                                                                                      | -                                           | (88,586)                   
|Total distributions                                                                                                                       | (74,589)                                    | (224,912)                  
|Share transactions - net increase (decrease)                                                                                              | (298,467)                                   | (69,908)                   
|Redemption fees                                                                                                                           | 44                                          | 139                        
|Total increase (decrease) in net assets                                                                                                   | 377,810                                     | (296,335)                  
|                                                                                                                                          |                                             |                            
|Net Assets                                                                                                                                |                                             |                            
|Beginning of period                                                                                                                       | 10,998,551                                  | 11,294,886                 
|End of period (including undistributed net investment income of $43,731 and undistributed net investment income of $68,609, respectively) | $	11,376,361                                | $	10,998,551               

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - Class A

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | Six months ended April 30, 2015 | Years ended October 31,
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------- | -----------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | (Unaudited)                     | 2014                   
|Selected Per-Share Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |                                 |                        
|Net asset value, beginning of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | $	38.70                         | $	39.49                
|Income from Investment Operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                                 |                        
|Net investment income (loss)E                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | .11                             | .53H                   
|Net realized and unrealized gain (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | 2.49                            | (.67)                  
|Total from investment operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | 2.60                            | (.14)                  
|Distributions from net investment income                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | (.11)                           | (.33)                  
|Distributions from net realized gain                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | -                               | (.31)                  
|Total distributions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | (.11)                           | (.65)L                 
|Redemption fees added to paid in capital E, J                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | -                               | -                      
|Net asset value, end of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | $	41.19                         | $	38.70                
|Total ReturnB, C, D                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | 6.74%                           | (.36)%                 
|Ratios to Average Net AssetsF, I                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |                                 |                        
|Expenses before reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | 1.33%A                          | 1.28%                  
|Expenses net of fee waivers, if any                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | 1.33%A                          | 1.28%                  
|Expenses net of all reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | 1.33%A                          | 1.28%                  
|Net investment income (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | .54%A                           | 1.35%H                 
|Supplemental Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                                 |                        
|Net assets, end of period (in millions)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | $	304                           | $	297                  
|Portfolio turnover rateG                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | 73%A,K                          | 57%                    
|AAnnualizedBTotal returns for periods of less than one year are not annualized.CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.DTotal returns do not include the effect of the sales charges.ECalculated based on average shares outstanding during the period.FFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.GAmount does not include the portfolio activity of any underlying Fidelity Central Funds.HInvestment income per share reflects a large, non-recurring dividend which amounted to $.22 per share. Excluding this non-recurring dividend, the ratio of net investment income (loss) to average net assets would have been .80%.IExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.JAmount represents less than $.01 per share.KPortfolio turnover rate excludes securities received or delivered in-kind.LTotal distributions of $.65 per share is comprised of distributions from net investment income of $.334 and distributions from net realized gain of $.311 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - Class T

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | Six months ended April 30, 2015 | Years ended October 31,
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------- | -----------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | (Unaudited)                     | 2014                   
|Selected Per-Share Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |                                 |                        
|Net asset value, beginning of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | $	38.43                         | $	39.23                
|Income from Investment Operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |                                 |                        
|Net investment income (loss)E                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | .06                             | .44H                   
|Net realized and unrealized gain (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | 2.48                            | (.68)                  
|Total from investment operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | 2.54                            | (.24)                  
|Distributions from net investment income                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | (.02)                           | (.25)                  
|Distributions from net realized gain                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | -                               | (.31)                  
|Total distributions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | (.02)                           | (.56)                  
|Redemption fees added to paid in capital E, J                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | -                               | -                      
|Net asset value, end of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | $	40.95                         | $	38.43                
|Total ReturnB, C, D                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | 6.61%                           | (.60)%                 
|Ratios to Average Net AssetsF, I                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |                                 |                        
|Expenses before reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | 1.57%A                          | 1.51%                  
|Expenses net of fee waivers, if any                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | 1.57%A                          | 1.51%                  
|Expenses net of all reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | 1.57%A                          | 1.51%                  
|Net investment income (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | .30%A                           | 1.11%H                 
|Supplemental Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |                                 |                        
|Net assets, end of period (in millions)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $	47                            | $	49                   
|Portfolio turnover rateG                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | 73%A,K                          | 57%                    
|AAnnualizedBTotal returns for periods of less than one year are not annualized.CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.DTotal returns do not include the effect of the sales charges.ECalculated based on average shares outstanding during the period.FFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.GAmount does not include the portfolio activity of any underlying Fidelity Central Funds.HInvestment income per share reflects a large, non-recurring dividend which amounted to $.21 per share. Excluding this non-recurring dividend, the ratio of net investment income (loss) to average net assets would have been .56%.IExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.JAmount represents less than $.01 per share.KPortfolio turnover rate excludes securities received or delivered in-kind.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - Class B

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | Six months ended April 30, 2015 | Years ended October 31,
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------- | -----------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | (Unaudited)                     | 2014                   
|Selected Per-Share Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                                 |                        
|Net asset value, beginning of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | $	38.32                         | $	39.08                
|Income from Investment Operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                                 |                        
|Net investment income (loss)E                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | (.05)                           | .22H                   
|Net realized and unrealized gain (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | 2.48                            | (.66)                  
|Total from investment operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | 2.43                            | (.44)                  
|Distributions from net investment income                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | -                               | (.01)                  
|Distributions from net realized gain                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | -                               | (.31)                  
|Total distributions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | -                               | (.32)                  
|Redemption fees added to paid in capital E, J                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | -                               | -                      
|Net asset value, end of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | $	40.75                         | $	38.32                
|Total ReturnB, C, D                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | 6.34%                           | (1.12)%                
|Ratios to Average Net AssetsF, I                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |                                 |                        
|Expenses before reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | 2.11%A                          | 2.06%                  
|Expenses net of fee waivers, if any                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | 2.11%A                          | 2.06%                  
|Expenses net of all reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | 2.11%A                          | 2.05%                  
|Net investment income (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | (.24)%A                         | .57%H                  
|Supplemental Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                                 |                        
|Net assets, end of period (in millions)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | $	3                             | $	5                    
|Portfolio turnover rateG                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | 73%A,K                          | 57%                    
|AAnnualizedBTotal returns for periods of less than one year are not annualized.CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.DTotal returns do not include the effect of the contingent deferred sales charge.ECalculated based on average shares outstanding during the period.FFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.GAmount does not include the portfolio activity of any underlying Fidelity Central Funds.HInvestment income per share reflects a large, non-recurring dividend which amounted to $.21 per share. Excluding this non-recurring dividend, the ratio of net investment income (loss) to average net assets would have been .02%.IExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.JAmount represents less than $.01 per share.KPortfolio turnover rate excludes securities received or delivered in-kind.LTotal distributions of $.27 per share is comprised of distributions from net investment income of $.115 and distributions from net realized gain of $.155 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - Class C

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | Six months ended April 30, 2015 | Years ended October 31,
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------- | -----------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | (Unaudited)                     | 2014                   
|Selected Per-Share Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                                 |                        
|Net asset value, beginning of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | $	38.25                         | $	39.07                
|Income from Investment Operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                                 |                        
|Net investment income (loss)E                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | (.04)                           | .23H                   
|Net realized and unrealized gain (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | 2.47                            | (.66)                  
|Total from investment operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | 2.43                            | (.43)                  
|Distributions from net investment income                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | -                               | (.08)                  
|Distributions from net realized gain                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | -                               | (.31)                  
|Total distributions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | -                               | (.39)                  
|Redemption fees added to paid in capital E, J                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | -                               | -                      
|Net asset value, end of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | $	40.68                         | $	38.25                
|Total ReturnB, C, D                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | 6.35%                           | (1.10)%                
|Ratios to Average Net AssetsF, I                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |                                 |                        
|Expenses before reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | 2.08%A                          | 2.03%                  
|Expenses net of fee waivers, if any                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | 2.08%A                          | 2.03%                  
|Expenses net of all reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | 2.08%A                          | 2.02%                  
|Net investment income (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | (.21)%A                         | .60%H                  
|Supplemental Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                                 |                        
|Net assets, end of period (in millions)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | $	37                            | $	35                   
|Portfolio turnover rateG                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | 73%A,K                          | 57%                    
|AAnnualizedBTotal returns for periods of less than one year are not annualized.CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.DTotal returns do not include the effect of the contingent deferred sales charge.ECalculated based on average shares outstanding during the period.FFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.GAmount does not include the portfolio activity of any underlying Fidelity Central Funds.HInvestment income per share reflects a large, non-recurring dividend which amounted to $.21 per share. Excluding this non-recurring dividend, the ratio of net investment income (loss) to average net assets would have been .05%.IExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.JAmount represents less than $.01 per share.KPortfolio turnover rate excludes securities received or delivered in-kind.LTotal distributions of $.29 per share is comprised of distributions from net investment income of $.137 and distributions from net realized gain of $.155 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - International Discovery

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | Six months ended April 30, 2015 | Years ended October 31,
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------- | -----------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | (Unaudited)                     | 2014                   
|Selected Per-Share Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |                                 |                        
|Net asset value, beginning of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | $	39.03                         | $	39.82                
|Income from Investment Operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |                                 |                        
|Net investment income (loss)D                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | .17                             | .67G                   
|Net realized and unrealized gain (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | 2.52                            | (.68)                  
|Total from investment operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | 2.69                            | (.01)                  
|Distributions from net investment income                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | (.26)                           | (.47)                  
|Distributions from net realized gain                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | -                               | (.31)                  
|Total distributions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | (.26)                           | (.78)                  
|Redemption fees added to paid in capital D, I                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | -                               | -                      
|Net asset value, end of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | $	41.46                         | $	39.03                
|Total ReturnB, C                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | 6.92%                           | (.01)%                 
|Ratios to Average Net AssetsE, H                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |                                 |                        
|Expenses before reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | .99%A                           | .93%                   
|Expenses net of fee waivers, if any                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | .99%A                           | .93%                   
|Expenses net of all reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | .98%A                           | .93%                   
|Net investment income (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | .88%A                           | 1.69%G                 
|Supplemental Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |                                 |                        
|Net assets, end of period (in millions)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | $	7,510                         | $	7,464                
|Portfolio turnover rateF                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | 73%A,J                          | 57%                    
|AAnnualizedBTotal returns for periods of less than one year are not annualized.CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.DCalculated based on average shares outstanding during the period.EFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.FAmount does not include the portfolio activity of any underlying Fidelity Central Funds.GInvestment income per share reflects a large, non-recurring dividend which amounted to $.22 per share. Excluding this non-recurring dividend, the ratio of net investment income (loss) to average net assets would have been 1.15%.HExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.IAmount represents less than $.01 per share.JPortfolio turnover rate excludes securities received or delivered in-kind.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - Class K

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | Six months ended April 30, 2015 | Years ended October 31,
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ------------------------------- | -----------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | (Unaudited)                     | 2014                   
|Selected Per-Share Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                                 |                        
|Net asset value, beginning of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | $	38.97                         | $	39.76                
|Income from Investment Operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                                 |                        
|Net investment income (loss)D                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | .20                             | .72G                   
|Net realized and unrealized gain (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | 2.52                            | (.67)                  
|Total from investment operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | 2.72                            | .05                    
|Distributions from net investment income                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | (.31)                           | (.53)                  
|Distributions from net realized gain                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | -                               | (.31)                  
|Total distributions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | (.31)                           | (.84)                  
|Redemption fees added to paid in capital D, I                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | -                               | -                      
|Net asset value, end of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | $	41.38                         | $	38.97                
|Total ReturnB, C                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | 7.03%                           | .13%                   
|Ratios to Average Net AssetsE, H                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |                                 |                        
|Expenses before reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | .86%A                           | .80%                   
|Expenses net of fee waivers, if any                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | .86%A                           | .80%                   
|Expenses net of all reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | .85%A                           | .79%                   
|Net investment income (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | 1.01%A                          | 1.83%G                 
|Supplemental Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                                 |                        
|Net assets, end of period (in millions)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | $	2,535                         | $	2,464                
|Portfolio turnover rateF                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | 73%A,J                          | 57%                    
|AAnnualizedBTotal returns for periods of less than one year are not annualized.CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.DCalculated based on average shares outstanding during the period.EFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.FAmount does not include the portfolio activity of any underlying Fidelity Central Funds.GInvestment income per share reflects a large, non-recurring dividend which amounted to $.22 per share. Excluding this non-recurring dividend, the ratio of net investment income (loss) to average net assets would have been 1.28%.HExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.IAmount represents less than $.01 per share.JPortfolio turnover rate excludes securities received or delivered in-kind.KTotal distributions of $.70 per share is comprised of distributions from net investment income of $.548 and distributions from net realized gain of $.155 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - Institutional Class

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | Six months ended April 30, 2015 | Years ended October 31,
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ------------------------------- | -----------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | (Unaudited)                     | 2014                   
|Selected Per-Share Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                                 |                        
|Net asset value, beginning of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | $	38.96                         | $	39.76                
|Income from Investment Operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                                 |                        
|Net investment income (loss)D                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | .17                             | .67G                   
|Net realized and unrealized gain (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | 2.51                            | (.68)                  
|Total from investment operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | 2.68                            | (.01)                  
|Distributions from net investment income                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | (.26)                           | (.48)                  
|Distributions from net realized gain                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | -                               | (.31)                  
|Total distributions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | (.26)                           | (.79)                  
|Redemption fees added to paid in capital D, I                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | -                               | -                      
|Net asset value, end of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | $	41.38                         | $	38.96                
|Total ReturnB, C                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | 6.93%                           | (.01)%                 
|Ratios to Average Net AssetsE, H                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |                                 |                        
|Expenses before reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | 1.00%A                          | .93%                   
|Expenses net of fee waivers, if any                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | 1.00%A                          | .93%                   
|Expenses net of all reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | .99%A                           | .93%                   
|Net investment income (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | .87%A                           | 1.69%G                 
|Supplemental Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                                 |                        
|Net assets, end of period (in millions)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | $	900                           | $	650                  
|Portfolio turnover rateF                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | 73%A,J                          | 57%                    
|AAnnualizedBTotal returns for periods of less than one year are not annualized.CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.DCalculated based on average shares outstanding during the period.EFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.FAmount does not include the portfolio activity of any underlying Fidelity Central Funds.GInvestment income per share reflects a large, non-recurring dividend which amounted to $.22 per share. Excluding this non-recurring dividend, the ratio of net investment income (loss) to average net assets would have been 1.14%.HExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.IAmount represents less than $.01 per share.JPortfolio turnover rate excludes securities received or delivered in-kind.KTotal distributions of $.65 per share is comprised of distributions from net investment income of $.497 and distributions from net realized gain of $.155 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - Class Z

|                                              | Six months ended April 30, 2015 | Years ended October 31,
|--------------------------------------------- | ------------------------------- | -----------------------
|                                              | (Unaudited)                     | 2014                   
|Selected Per-Share Data                       |                                 |                        
|Net asset value, beginning of period          | $	38.96                         | $	39.77                
|Income from Investment Operations             |                                 |                        
|Net investment income (loss)D                 | .20                             | .72G                   
|Net realized and unrealized gain (loss)       | 2.51                            | (.68)                  
|Total from investment operations              | 2.71                            | .04                    
|Distributions from net investment income      | (.32)                           | (.54)                  
|Distributions from net realized gain          | -                               | (.31)                  
|Total distributions                           | (.32)                           | (.85)                  
|Redemption fees added to paid in capital D, J | -                               | -                      
|Net asset value, end of period                | $	41.35                         | $	38.96                
|Total ReturnB, C                              | 7.00%                           | .12%                   
|Ratios to Average Net AssetsE, I              |                                 |                        
|Expenses before reductions                    | .86%A                           | .80%                   
|Expenses net of fee waivers, if any           | .86%A                           | .80%                   
|Expenses net of all reductions                | .85%A                           | .79%                   
|Net investment income (loss)                  | 1.01%A                          | 1.83%G                 
|Supplemental Data                             |                                 |                        
|Net assets, end of period (000 omitted)       | $	39,986                        | $	35,125               
|Portfolio turnover rate F                     | 73%A, K                         | 57%                    

|AAnnualizedBTotal returns for periods of less than one year are not annualized.CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.DCalculated based on average shares outstanding during the period.EFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.FAmount does not include the portfolio activity of any underlying Fidelity Central Funds.GInvestment income per share reflects a large, non-recurring dividend which amounted to $.21 per share. Excluding this non-recurring dividend, the ratio of net investment income (loss) to average net assets would have been 1.28%.HFor the period August 13, 2013 (commencement of sale of shares) to October 31, 2013.IExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.JAmount represents less than $.01 per share.KPortfolio turnover rate excludes securities received or delivered in-kind.
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

---

# Notes to Financial Statements

For the period ended April 30, 2015 (Unaudited)

(Amounts in thousands except percentages)

1. Organization.

Fidelity® International Discovery Fund (the Fund) is a fund of Fidelity Investment Trust (the Trust) and is authorized to issue an unlimited number of shares. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Massachusetts business trust. The Fund offers Class A, Class T, Class C, International Discovery, Class K, Institutional Class and Class Z shares, each of which, along with Class B shares, has equal rights as to assets and voting privileges. Class B shares are closed to new accounts and additional purchases, except for exchanges and reinvestments. Each class has exclusive voting rights with respect to matters that affect that class. Class B shares will automatically convert to Class A shares after a holding period of seven years from the initial date of purchase.

2. Investments in Fidelity Central Funds.

The Fund invests in Fidelity Central Funds, which are open-end investment companies generally available only to other investment companies and accounts managed by the investment adviser and its affiliates. The Fund's Schedule of Investments lists each of the Fidelity Central Funds held as of period end, if any, as an investment of the Fund, but does not include the underlying holdings of each Fidelity Central Fund. As an Investing Fund, the Fund indirectly bears its proportionate share of the expenses of the underlying Fidelity Central Funds.

The Money Market Central Funds seek preservation of capital and current income and are managed by Fidelity Investments Money Management, Inc. (FIMM), an affiliate of the investment adviser. Annualized expenses of the Money Market Central Funds as of their most recent shareholder report date are less than .01%.

A complete unaudited list of holdings for each Fidelity Central Fund is available upon request or at the Securities and Exchange Commission (the SEC) website at www.sec.gov. In addition, the financial statements of the Fidelity Central Funds are available on the SEC website or upon request.

3. Significant Accounting Policies.

The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP), which require management to make certain estimates and assumptions at the date of the financial statements. Actual results could differ from those estimates. Subsequent events, if any, through the date that the financial statements were issued have been evaluated in the preparation of

Semiannual Report

Notes to Financial Statements (Unaudited) - continued

(Amounts in thousands except percentages)

3. Significant Accounting Policies - continued

the financial statements. The following summarizes the significant accounting policies of the Fund:

Investment Valuation.Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. The Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fidelity Management & Research Company (FMR) Fair Value Committee (the Committee). In accordance with valuation policies and procedures approved by the Board, the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events, changes in interest rates and credit quality. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund's valuation policies and procedures and reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee.

The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels as shown below:

Level 1 - quoted prices in active markets for identical investments

Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, etc.)

Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available)

Valuation techniques used to value the Fund's investments by major category are as follows:

Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing vendor on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs),

Semiannual Report

3. Significant Accounting Policies - continued

Investment Valuation - continued

futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. Utilizing these techniques may result in transfers between Level 1 and Level 2. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy.

Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing vendors or from brokers who make markets in such securities. Preferred securities and U.S. government and government agency obligations are valued by pricing vendors who utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type or by broker-supplied prices. When independent prices are unavailable or unreliable, debt securities may be valued utilizing pricing methodologies which consider similar factors that would be used by third party pricing vendors. Debt securities are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances.

Futures contracts are valued at the settlement price established each day by the board of trade or exchange on which they are traded and are categorized as Level 1 in the hierarchy. Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy.

Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. The aggregate value of investments by input level, as of April 30, 2015, including information on transfers between Levels 1 and 2 is included at the end of the Fund's Schedule of Investments.

Foreign Currency.The Fund may use foreign currency contracts to facilitate transactions in foreign-denominated securities. Gains and losses from these transactions may arise from changes in the value of the foreign currency or if the counterparties do not perform under the contracts' terms.

Foreign-denominated assets, including investment securities, and liabilities are translated into U.S. dollars at the exchange rates at period end. Purchases and sales of investment securities, income and dividends received and expenses denominated in foreign currencies are translated into U.S. dollars at the exchange rate in effect on the transaction date.

Semiannual Report

Notes to Financial Statements (Unaudited) - continued

(Amounts in thousands except percentages)

3. Significant Accounting Policies - continued

Foreign Currency - continued

The effects of exchange rate fluctuations on investments are included with the net realized and unrealized gain (loss) on investment securities. Other foreign currency transactions resulting in realized and unrealized gain (loss) are disclosed separately.

Investment Transactions and Income.For financial reporting purposes, the Fund's investment holdings and NAV include trades executed through the end of the last business day of the period. The NAV per share for processing shareholder transactions is calculated as of the close of business of the New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time and includes trades executed through the end of the prior business day. Gains and losses on securities sold are determined on the basis of identified cost and may include proceeds received from litigation. Dividend income is recorded on the ex-dividend date, except for certain dividends from foreign securities where the ex-dividend date may have passed, which are recorded as soon as the Fund is informed of the ex-dividend date. Non-cash dividends included in dividend income, if any, are recorded at the fair market value of the securities received. Income and capital gain distributions from Fidelity Central Funds, if any, are recorded on the ex-dividend date. Distributions received on securities that represent a return of capital or capital gain are recorded as a reduction of cost of investments and/or as a realized gain. Subsequent to ex-dividend date the Fund determines the components of these distributions, based upon receipt of tax filings or other correspondence relating to the underlying investment. Interest income is accrued as earned and includes coupon interest and amortization of premium and accretion of discount on debt securities as applicable. Investment income is recorded net of foreign taxes withheld where recovery of such taxes is uncertain.

Class Allocations andExpenses. Investment income, realized and unrealized capital gains and losses, common expenses of the Fund, and certain fund-level expense reductions, if any, are allocated daily on a pro-rata basis to each class based on the relative net assets of each class to the total net assets of the Fund. Each class differs with respect to transfer agent and distribution and service plan fees incurred. Certain expense reductions may also differ by class. For the reporting period, the allocated portion of income and expenses to each class as a percent of its average net assets may vary due to the timing of recording these transactions in relation to fluctuating net assets of the classes. Expenses directly attributable to a fund are charged to that fund. Expenses attributable to more than one fund are allocated among the respective funds on the basis of relative net assets or other appropriate methods. Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.

Semiannual Report

3. Significant Accounting Policies - continued

DeferredTrustee Compensation. Under a Deferred Compensation Plan (the Plan), independent Trustees may elect to defer receipt of a portion of their annual compensation. Deferred amounts are invested in a cross-section of Fidelity funds, are marked-to-market and remain in the Fund until distributed in accordance with the Plan. The investment of deferred amounts and the offsetting payable to the Trustees are included in the accompanying Statement of Assets and Liabilities.

Income Tax Information and Distributions to Shareholders. Each year, the Fund intends to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code, including distributing substantially all of its taxable income and realized gains. As a result, no provision for U.S. Federal income taxes is required. The Fund files a U.S. federal tax return, in addition to state and local tax returns as required. The Fund's federal income tax returns are subject to examination by the Internal Revenue Service (IRS) for a period of three fiscal years after they are filed. State and local tax returns may be subject to examination for an additional fiscal year depending on the jurisdiction. Foreign taxes are provided for based on the Fund's understanding of the tax rules and rates that exist in the foreign markets in which it invests. The Fund is subject to a tax imposed on capital gains by certain countries in which it invests. An estimated deferred tax liability for net unrealized appreciation on the applicable securities is included in Other payables and accrued expenses on the Statement of Assets & Liabilities.

Distributions are declared and recorded on the ex-dividend date. Income dividends and capital gain distributions are declared separately for each class. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP.

Capital accounts within the financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations. Capital accounts are not adjusted for temporary book-tax differences which will reverse in a subsequent period.

Book-tax differences are primarily due to futures contracts, foreign currency transactions, passive foreign investment companies (PFIC), market discount, deferred trustees compensation, capital loss carryforwards and losses deferred due to wash sales.

The federal tax cost of investment securities and unrealized appreciation (depreciation) as of period end were as follows:

|Gross unrealized appreciation                            | $	2,018,808
|-------------------------------------------------------- | -----------
|Gross unrealized depreciation                            | (238,932)  
|Net unrealized appreciation (depreciation) on securities | $	1,779,876
|                                                         |            
|Tax cost                                                 | $	9,718,007

Semiannual Report

Notes to Financial Statements (Unaudited) - continued

(Amounts in thousands except percentages)

3. Significant Accounting Policies - continued

Income Tax Information and Distributions to Shareholders - continued

Capital loss carryforwards are only available to offset future capital gains of the Fund to the extent provided by regulations and may be limited. Under the Regulated Investment Company Modernization Act of 2010 (the Act), the Fund is permitted to carry forward capital losses incurred in taxable years beginning after December 22, 2010 for an unlimited period and such capital losses are required to be used prior to any losses that expire. The capital loss carryforward information presented below, including any applicable limitation, is estimated as of prior fiscal period end and is subject to adjustment.

|Fiscal year of expiration |            
|------------------------- | -----------
|2017                      | $	(227,245)

Short-Term Trading (Redemption) Fees. Shares held by investors in the Fund less than 30 days may have been subject to a redemption fee equal to 1.00% of the NAV of shares redeemed. All redemption fees, which reduce the proceeds of the shareholder redemption, are retained by the Fund and accounted for as an addition to paid in capital.

Restricted Securities. The Fund may invest in securities that are subject to legal or contractual restrictions on resale. These securities generally may be resold in transactions exempt from registration or to the public if the securities are registered. Disposal of these securities may involve time-consuming negotiations and expense, and prompt sale at an acceptable price may be difficult. Information regarding restricted securities is included at the end of the Fund's Schedule of Investments.

New Accounting Pronouncement.In June 2014, the Financial Accounting Standards Board issued Accounting Standard Update No. 2014-11, Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures (the Update). The Update amends the accounting for certain repurchase agreements and expands disclosure requirements for reverse repurchase agreements, securities lending and other similar transactions. The disclosure requirements are effective for annual and interim reporting periods beginning after December 15, 2014. Management is currently evaluating the impact of the Update on the Fund's financial statements and related disclosures.

4. Derivative Instruments.

Risk Exposures and the Use of Derivative Instruments. The Fund's investment objective allows the Fund to enter into various types of derivative contracts, including futures contracts. Derivatives are investments whose value is primarily derived from underlying assets, indices or reference rates and may be transacted on an exchange or over-the-counter (OTC). Derivatives may involve a future commitment to buy or sell a specified asset based on specified terms, to exchange future cash flows at periodic

Semiannual Report

4. Derivative Instruments - continued

Risk Exposures and the Use of Derivative Instruments - continued

intervals based on a notional principal amount, or for one party to make one or more payments upon the occurrence of specified events in exchange for periodic payments from the other party.

The Fund used derivatives to increase returns and to manage exposure to certain risks as defined below. The success of any strategy involving derivatives depends on analysis of numerous economic factors, and if the strategies for investment do not work as intended, the Fund may not achieve its objectives.

The Fund's use of derivatives increased or decreased its exposure to the following risk:

|Equity Risk | Equity risk relates to the fluctuations in the value of financial instruments as a result of changes in market prices (other than those arising from interest rate risk or foreign exchange risk), whether caused by factors specific to an individual investment, its issuer, or all factors affecting all instruments traded in a market or market segment.
|----------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

The Fund is also exposed to additional risks from investing in derivatives, such as liquidity risk and counterparty credit risk. Liquidity risk is the risk that the Fund will be unable to close out the derivative in the open market in a timely manner. Counterparty credit risk is the risk that the counterparty will not be able to fulfill its obligation to the Fund. Counterparty credit risk related to exchange-traded futures contracts may be mitigated by the protection provided by the exchange on which they trade.

Investing in derivatives may involve greater risks than investing in the underlying assets directly and, to varying degrees, may involve risk of loss in excess of any initial investment and collateral received and amounts recognized in the Statement of Assets and Liabilities. In addition, there may be the risk that the change in value of the derivative contract does not correspond to the change in value of the underlying instrument.

Futures Contracts.A futures contract is an agreement between two parties to buy or sell a specified underlying instrument for a fixed price at a specified future date. The Fund used futures contracts to manage its exposure to the stock market.

Upon entering into a futures contract, a fund is required to deposit either cash or securities (initial margin) with a clearing broker in an amount equal to a certain percentage of the face value of the contract. Futures contracts are marked-to-market daily and subsequent daily payments (variation margin) are made or received by a fund depending on the daily fluctuations in the value of the futures contracts and are recorded as unrealized appreciation or (depreciation). This receivable and/or payable, if any, is included in daily variation margin for derivative instruments in the Statement of Assets and Liabilities. Realized gain or (loss) is recorded upon the expiration or closing of a futures contract.

Semiannual Report

Notes to Financial Statements (Unaudited) - continued

(Amounts in thousands except percentages)

4. Derivative Instruments - continued

Futures Contracts - continued

Any open futures contracts at period end are presented in the Schedule of Investments under the caption "Futures Contracts." The underlying face amount at value reflects each contract's exposure to the underlying instrument or index at period end.

During the period the Fund recognized net realized gain (loss) of $42,556 and a change in net unrealized appreciation (depreciation) of $(18,692) related to its investment in futures contracts. These amounts are included in the Statement of Operations.

5. Purchases and Sales of Investments.

Purchases and sales of securities, other than short-term securities and in-kind transactions, aggregated $3,937,889 and $3,850,750, respectively.

Redemptions In-Kind. During the period, 2,460 shares of the Fund held by unaffiliated entities were redeemed for cash and investments, including accrued interest with a value of $92,600. The net realized gain of $15,499 on investments delivered through in-kind redemptions is included in the accompanying Statement of Operations. The amount of in-kind redemptions is included in share transactions in the accompanying Statement of Changes in Net Assets as well as Note 11: Share Transactions. The Fund recognized no gain or loss for federal income tax purposes.

6. Fees and Other Transactions with Affiliates.

Management Fee. Fidelity Management & Research Company (the investment adviser) and its affiliates provide the Fund with investment management related services for which the Fund pays a monthly management fee. The management fee is the sum of an individual fund fee rate that is based on an annual rate of .424% of the Fund's average net assets and an annualized group fee rate that averaged .25% during the period. The group fee rate is based upon the average net assets of all the mutual funds advised by the investment adviser, including any mutual funds previously advised by the investment adviser that are currently advised by Fidelity SelectCo, LLC, an affiliate of the investment adviser. The group fee rate decreases as assets under management increase and increases as assets under management decrease. In addition, the management fee is subject to a performance adjustment (up to a maximum of ± .20% of the Fund's average net assets over a 36 month performance period). The upward or downward adjustment to the management fee is based on the relative investment performance of International Discovery as compared to its benchmark index, the MSCI EAFE Index, over the same 36 month performance period. For the reporting period, the total annualized management fee rate, including the performance adjustment, was .77% of the Fund's average net assets. The performance adjustment included in the management fee rate may be higher

Semiannual Report

6. Fees and Other Transactions with Affiliates - continued

Management Fee - continued

or lower than the maximum performance adjustment rate due to the difference between the average net assets for the reporting and performance periods.

Distribution and Service Plan Fees. In accordance with Rule 12b-1 of the 1940 Act, the Fund has adopted separate Distribution and Service Plans for each class of shares. Certain classes pay Fidelity Distributors Corporation (FDC), an affiliate of the investment adviser, separate Distribution and Service Fees, each of which is based on an annual percentage of each class' average net assets. In addition, FDC may pay financial intermediaries for selling shares of the Fund and providing shareholder support services. For the period, the Distribution and Service Fee rates, total fees and amounts retained by FDC were as follows:

|        | Distribution
Fee | Service
Fee | Total Fees | Retained
by FDC
|------- | ---------------- | ----------- | ---------- | ---------------
|Class A | -%               | .25%        | $	366      | $	7            
|Class T | .25%             | .25%        | 116        | 2              
|Class B | .75%             | .25%        | 20         | 15             
|Class C | .75%             | .25%        | 175        | 20             
|        |                  |             | $	677      | $	44           

Sales Load. FDC may receive a front-end sales charge of up to 5.75% for selling Class A shares and 3.50% for selling Class T shares, some of which is paid to financial intermediaries for selling shares of the Fund. Depending on the holding period, FDC may receive contingent deferred sales charges levied on Class A, Class T, Class B, and Class C redemptions. The deferred sales charges range from 5.00% to 1.00% for Class B shares, 1.00% for Class C shares, 1.00% for certain purchases of Class A shares and .25% for certain purchases of Class T shares.

For the period, sales charge amounts retained by FDC were as follows:

|         | Retained
by FDC
|-------- | ---------------
|Class A  | $	28           
|Class T  | 4              
|Class B* | 1              
|Class C* | 2              
|         | $	35           

*When Class B and Class C shares are initially sold, FDC pays commissions from its own resources to financial intermediaries through which the sales 	are made.

Transfer Agent Fees.Fidelity Investments Institutional Operations Company, Inc., (FIIOC), an affiliate of the investment adviser, is the transfer, dividend disbursing and

Semiannual Report

Notes to Financial Statements (Unaudited) - continued

(Amounts in thousands except percentages)

6. Fees and Other Transactions with Affiliates - continued

Transfer Agent Fees - continued

shareholder servicing agent for each class of the Fund. FIIOC receives account fees and asset-based fees that vary according to the account size and type of account of the shareholders of the respective classes of the Fund, except for Class K and Class Z. FIIOC receives an asset-based fee of Class K's and Class Z's average net assets. FIIOC pays for typesetting, printing and mailing of shareholder reports, except proxy statements.

For the period, transfer agent fees for each class were as follows:

|                        | Amount  | % of
Class-Level Average
Net Assets*
|----------------------- | ------- | ------------------------------------
|Class A                 | $	395   | .27                                 
|Class T                 | 60      | .26                                 
|Class B                 | 6       | .30                                 
|Class C                 | 47      | .27                                 
|International Discovery | 6,558   | .18                                 
|Class K                 | 578     | .05                                 
|Institutional Class     | 722     | .19                                 
|Class Z                 | 8       | .05                                 
|                        | $	8,374 |                                     

*Annualized

Accounting and Security Lending Fees.Fidelity Service Company, Inc. (FSC), an affiliate of the investment adviser, maintains the Fund's accounting records. The accounting fee is based on the level of average net assets for each month. Under a separate contract, FSC administers the security lending program. The security lending fee is based on the number and duration of lending transactions.

Brokerage Commissions.The Fund placed a portion of its portfolio transactions with brokerage firms which are affiliates of the investment adviser. Brokerage commissions are included in net realized gain (loss) and change in net unrealized appreciation (depreciation) in the Statement of Operations. The commissions paid to these affiliated firms were $5 for the period.

7. Committed Line of Credit.

The Fund participates with other funds managed by the investment adviser or an affiliate in a $4.25 billion credit facility (the "line of credit") to be utilized for temporary or emergency purposes to fund shareholder redemptions or for other short-term liquidity purposes. The Fund has agreed to pay commitment fees on its pro-rata portion of the line of credit, which amounted to $9 and is reflected in Miscellaneous expenses on the

Semiannual Report

7. Committed Line of Credit - continued

Statement of Operations. During the period, the Fund did not borrow on this line of credit.

8. Security Lending.

The Fund lends portfolio securities through a lending agent from time to time in order to earn additional income. For equity securities, a lending agent is used and may loan securities to certain qualified borrowers, including Fidelity Capital Markets (FCM), a broker-dealer affiliated with the Fund. On the settlement date of the loan, the Fund receives collateral (in the form of U.S. Treasury obligations, letters of credit and/or cash) against the loaned securities and maintains collateral in an amount not less than 100% of the market value of the loaned securities during the period of the loan. The market value of the loaned securities is determined at the close of business of the Fund and any additional required collateral is delivered to the Fund on the next business day. If the borrower defaults on its obligation to return the securities loaned because of insolvency or other reasons, the Fund may apply collateral received from the borrower against the obligation. The Fund may experience delays and costs in recovering the securities loaned. Any cash collateral received is invested in the Fidelity Securities Lending Cash Central Fund. The value of loaned securities and cash collateral at period end are disclosed on the Fund's Statement of Assets and Liabilities. Security lending income represents the income earned on investing cash collateral, less rebates paid to borrowers and any lending agent fees associated with the loan, plus any premium payments received for lending certain types of securities. Security lending income is presented in the Statement of Operations as a component of income from Fidelity Central Funds. Total security lending income during the period amounted to $1,811. During the period, there were no securities loaned to FCM.

9. Expense Reductions.

Commissions paid to certain brokers with whom the investment adviser, or its affiliates, places trades on behalf of the Fund include an amount in addition to trade execution, which may be rebated back to the Fund to offset certain expenses. This amount totaled $155 for the period.

In addition, the investment adviser reimbursed a portion of the Fund's operating expenses, including certain International Discovery expenses during the period in the amount of $5.

Semiannual Report

Notes to Financial Statements (Unaudited) - continued

(Amounts in thousands except percentages)

10. Distributions to Shareholders.

Distributions to shareholders of each class were as follows:

|                           | Six months ended
April 30,
2015 | Year ended
October 31,
2014
|-------------------------- | ------------------------------- | ---------------------------
|From net investment income |                                 |                            
|Class A                    | $	864                           | $	2,857                    
|Class T                    | 23                              | 344                        
|Class B                    | -                               | 2                          
|Class C                    | -                               | 79                         
|International Discovery    | 49,040                          | 93,065                     
|Class K                    | 19,835                          | 33,983                     
|Institutional Class        | 4,544                           | 5,936                      
|Class Z                    | 283                             | 60                         
|Total                      | $	74,589                        | $	136,326                  
|From net realized gain     |                                 |                            
|Class A                    | $	-                             | $	2,660                    
|Class T                    | -                               | 423                        
|Class B                    | -                               | 52                         
|Class C                    | -                               | 295                        
|International Discovery    | -                               | 61,190                     
|Class K                    | -                               | 20,093                     
|Institutional Class        | -                               | 3,838                      
|Class Z                    | -                               | 35                         
|Total                      | $	-                             | $	88,586                   

11. Share Transactions.

Share transactions for each class were as follows and may contain automatic conversions between classes or exchanges between funds:

|                              | Shares                          | Dollars                    
|----------------------------- | ------------------------------- | ---------------------------
|                              | Six months ended April 30,
2015 | Year ended
October 31,
2014
|Class A                       |                                 |                            
|Shares sold                   | 692                             | 1,382                      
|Reinvestment of distributions | 22                              | 137                        
|Shares redeemed               | (1,000)                         | (2,632)                    
|Net increase (decrease)       | (286)                           | (1,113)                    
|Class T                       |                                 |                            
|Shares sold                   | 96                              | 200                        
|Reinvestment of distributions | 1                               | 19                         
|Shares redeemed               | (215)                           | (311)                      
|Net increase (decrease)       | (118)                           | (92)                       

Semiannual Report

11. Share Transactions - continued

|                              | Shares                          | Dollars                    
|----------------------------- | ------------------------------- | ---------------------------
|                              | Six months ended April 30,
2015 | Year ended
October 31,
2014
|Class B                       |                                 |                            
|Shares sold                   | 1                               | 6                          
|Reinvestment of distributions | -                               | 1                          
|Shares redeemed               | (38)                            | (58)                       
|Net increase (decrease)       | (37)                            | (51)                       
|Class C                       |                                 |                            
|Shares sold                   | 104                             | 232                        
|Reinvestment of distributions | -                               | 9                          
|Shares redeemed               | (119)                           | (250)                      
|Net increase (decrease)       | (15)                            | (9)                        
|International Discovery       |                                 |                            
|Shares sold                   | 10,812                          | 28,809                     
|Reinvestment of distributions | 1,199                           | 3,813                      
|Shares redeemed               | (22,134)                        | (37,231)                   
|Net increase (decrease)       | (10,123)                        | (4,609)                    
|Class K                       |                                 |                            
|Shares sold                   | 8,328                           | 15,775                     
|Reinvestment of distributions | 508                             | 1,396                      
|Shares redeemed               | (10,794)A                       | (18,729)                   
|Net increase (decrease)       | (1,958)                         | (1,558)                    
|Institutional Class           |                                 |                            
|Shares sold                   | 7,532                           | 10,468                     
|Reinvestment of distributions | 33                              | 91                         
|Shares redeemed               | (2,496)                         | (5,852)                    
|Net increase (decrease)       | 5,069                           | 4,707                      
|Class Z                       |                                 |                            
|Shares sold                   | 153                             | 993                        
|Reinvestment of distributions | 7                               | 2                          
|Shares redeemed               | (95)                            | (96)                       
|Net increase (decrease)       | 65                              | 899                        

AAmount includes in-kind redemptions (see Note 5: Redemptions In-Kind).

Semiannual Report

Notes to Financial Statements (Unaudited) - continued

(Amounts in thousands except percentages)

12. Other.

The Fund's organizational documents provide former and current trustees and officers with a limited indemnification against liabilities arising in connection with the performance of their duties to the Fund. In the normal course of business, the Fund may also enter into contracts that provide general indemnifications. The Fund's maximum exposure under these arrangements is unknown as this would be dependent on future claims that may be made against the Fund. The risk of material loss from such claims is considered remote.

At the end of the period, Strategic Advisers International Fund was the owner of record of approximately 13% of the total outstanding shares of the Fund.

Semiannual Report

Investment Adviser

Fidelity Management & Research Company

Boston, MA

Investment Sub-Advisers

FMR Co., Inc.

FMR Investment Management 
	(U.K.) Limited

FIL Investments (Japan) Limited

FIL Investment Advisors

FIL Investment Advisors
	(U.K.) Limited

Fidelity Management & Research
	(Hong Kong) Limited

Fidelity Management & Research
	(Japan) Limited

General Distributor

Fidelity Distributors Corporation

Smithfield, RI

Transfer and Service Agents

Fidelity Investments Institutional
	Operations Company, Inc.

Boston, MA

Fidelity Service Company, Inc.

Boston, MA

Custodian

The Northern Trust Company
Chicago, IL

(Fidelity Investment logo)(registered trademark)Corporate Headquarters245 Summer St., Boston, MA 02210www.fidelity.com

`IGI-K-USAN-0615
1.863310.106`

(Fidelity Investment logo)(registered trademark)FidelityAdvisor®

International Small Cap Opportunities

Fund - Class A, Class T, Class B
and Class C

Semiannual Report

April 30, 2015

(Fidelity Cover Art)

Class A, Class T, Class B
and Class C are classes of
Fidelity® International
Small Cap Opportunities Fund

---

# Contents

|Shareholder Expense Example | (Click Here) | An example of shareholder expenses.                                                                          
|--------------------------- | ------------ | -------------------------------------------------------------------------------------------------------------
|Investment Changes          | (Click Here) | A summary of major shifts in the fund's investments over the past six months.                                
|Investments                 | (Click Here) | A complete list of the fund's investments with their market values.                                          
|Financial Statements        | (Click Here) | Statements of assets and liabilities, operations, and changes in net assets, as well as financial highlights.
|Notes                       | (Click Here) | Notes to the financial statements.                                                                           

To view a fund's proxy voting guidelines and proxy voting record for the 12-month period ended June 30, visit http://www.fidelity.com/proxyvotingresults or visit the Securities and Exchange Commission's (SEC) web site at http://www.sec.gov. You may also call 1-877-208-0098 to request a free copy of the proxy voting guidelines.

Standard & Poor's, S&P and S&P 500 are registered service marks of The McGraw-Hill Companies, Inc. and have been licensed for use by Fidelity Distributors Corporation.

Other third-party marks appearing herein are the property of their respective owners.

All other marks appearing herein are registered or unregistered trademarks or service marks of FMR LLC or an affiliated company. © 2015 FMR LLC. All rights reserved.

This report and the financial statements contained herein are submitted for the general information of the shareholders of the fund. This report is not authorized for distribution to prospective investors in the fund unless preceded or accompanied by an effective prospectus.

A fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-Q. Forms N-Q are available on the SEC's web site at http://www.sec.gov.A fund's Forms N-Q may be reviewed and copied at the SEC's Public Reference Room in Washington, DC. Information regarding the operation of the SEC's Public Reference Room may be obtained by calling 1-800-SEC-0330. For a complete list of a fund's portfolio holdings, view the most recent holdings listing, semiannual report, or annual report on Fidelity's web site at http://www.fidelity.com, http://www.advisor.fidelity.com, or http://www.401k.com, as applicable.

NOT FDIC INSURED • MAY LOSE VALUE • NO BANK GUARANTEE

Neither the fund nor Fidelity Distributors Corporation is a bank.

Semiannual Report

---

# Shareholder Expense Example

As a shareholder of the Fund, you incur two types of costs: (1) transaction costs, including sales charges (loads) on purchase payments or redemption proceeds, redemption fees and (2) ongoing costs, including management fees, distribution and/or service (12b-1) fees and other Fund expenses. This Example is intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds.

The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (November 1, 2014 to April 30, 2015).

Actual Expenses

The first line of the accompanying table for each class of the Fund provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000.00 (for example, an $8,600 account value divided by $1,000.00 = 8.6), then multiply the result by the number in the first line for a class of the Fund under the heading entitled "Expenses Paid During Period" to estimate the expenses you paid on your account during this period. A small balance maintenance fee of $12.00 that is charged once a year may apply for certain accounts with a value of less than $2,000. This fee is not included in the table below. If it was, the estimate of expenses you paid during the period would be higher, and your ending account value lower, by this amount. In addition, the Fund, as a shareholder in the underlying Fidelity Central Funds, will indirectly bear its pro-rata share of the fees and expenses incurred by the underlying Fidelity Central Funds. These fees and expenses are not included in the Fund's annualized expense ratio used to calculate the expense estimate in the table below.

Hypothetical Example for Comparison Purposes

The second line of the accompanying table for each class of the Fund provides information about hypothetical account values and hypothetical expenses based on a Class' actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Class' actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds. A small balance maintenance fee of $12.00 that is charged once a year may apply for certain accounts with a value of less than $2,000. This fee is not included in the table below. If it was, the estimate of expenses you paid during the period would be higher, and your ending account value lower, by this amount. In addition, the Fund, as a shareholder in the underlying Fidelity Central Funds, will indirectly bear its pro-rata share of the fees and expenses incurred by the underlying Fidelity Central Funds. These fees and expenses are not included in the Fund's annualized expense ratio used to calculate the expense estimate in the table below.

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transaction costs. Therefore, the second line of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.

Semiannual Report

Shareholder Expense Example - continued

|                                      | Annualized 
Expense RatioB | Beginning
Account Value
November 1, 2014 | Ending
Account Value
April 30, 2015 | Expenses Paid
During Period*November 1, 2014 to April 30, 2015
|------------------------------------- | -------------------------- | ---------------------------------------- | ----------------------------------- | --------------------------------------------------------------
|Class A                               | 1.57%                      |                                          |                                     |                                                               
|Actual                                |                            | $	1,000.00                               | $	1,102.40                          | $	8.18                                                        
|HypotheticalA                         |                            | $	1,000.00                               | $	1,017.01                          | $	7.85                                                        
|Class T                               | 1.83%                      |                                          |                                     |                                                               
|Actual                                |                            | $	1,000.00                               | $	1,100.50                          | $	9.53                                                        
|HypotheticalA                         |                            | $	1,000.00                               | $	1,015.72                          | $	9.15                                                        
|Class B                               | 2.33%                      |                                          |                                     |                                                               
|Actual                                |                            | $	1,000.00                               | $	1,097.70                          | $	12.12                                                       
|HypotheticalA                         |                            | $	1,000.00                               | $	1,013.24                          | $	11.63                                                       
|Class C                               | 2.32%                      |                                          |                                     |                                                               
|Actual                                |                            | $	1,000.00                               | $	1,097.50                          | $	12.07                                                       
|HypotheticalA                         |                            | $	1,000.00                               | $	1,013.29                          | $	11.58                                                       
|International Small Cap Opportunities | 1.26%                      |                                          |                                     |                                                               
|Actual                                |                            | $	1,000.00                               | $	1,103.10                          | $	6.57                                                        
|HypotheticalA                         |                            | $	1,000.00                               | $	1,018.55                          | $	6.31                                                        
|Institutional Class                   | 1.22%                      |                                          |                                     |                                                               
|Actual                                |                            | $	1,000.00                               | $	1,103.60                          | $	6.36                                                        
|HypotheticalA                         |                            | $	1,000.00                               | $	1,018.74                          | $	6.11                                                        

A5% return per year before expenses

BAnnualized expense ratio reflects expenses net of applicable fee waivers.

*Expenses are equal to each Class' annualized expense ratio, multiplied by the average account value over the period, multiplied by 181/365 (to reflect the one-half year period).

Semiannual Report

---

# Investment Changes (Unaudited)

|Geographic Diversification (% of fund's net assets)
|---------------------------------------------------
|As of April 30, 2015                               
|int1199                                            
|int1201                                            
|int1203                                            
|int1205                                            
|int1207                                            
|int1209                                            
|int1211                                            
|int1213                                            
|int1215                                            
|int1217                                            

int1219

|Percentages are based on country or territory of incorporation and are adjusted for the effect of futures contracts, if applicable.
|-----------------------------------------------------------------------------------------------------------------------------------
|*	Includes Short-Term Investments and Net Other Assets (Liabilities).                                                              

|As of October 31, 2014
|----------------------
|int1221               
|int1223               
|int1225               
|int1227               
|int1229               
|int1231               
|int1233               
|int1235               
|int1237               
|int1239               

int1241

|Percentages are based on country or territory of incorporation and are adjusted for the effect of futures contracts, if applicable.
|-----------------------------------------------------------------------------------------------------------------------------------
|*	Includes Short-Term Investments and Net Other Assets (Liabilities).                                                              

|Asset Allocation as of April 30, 2015                                  
|-----------------------------------------------------------------------
|                                                                       
|Stocks                                                                 
|Short-Term Investments and Net Other Assets (Liabilities)              
|Top Ten Stocks as of April 30, 2015                                    
|                                                                       
|USS Co. Ltd.  (Japan, Specialty Retail)                                
|Unite Group PLC  (United Kingdom, Real Estate Management & Development)
|Azimut Holding SpA  (Italy, Capital Markets)                           
|CTS Eventim AG  (Germany, Media)                                       
|Spirax-Sarco Engineering PLC  (United Kingdom, Machinery)              
|OSG Corp.  (Japan, Machinery)                                          
|Interpump Group SpA  (Italy, Machinery)                                
|SS&C Technologies Holdings, Inc.  (United States of America, Software) 
|Seven Bank Ltd.  (Japan, Banks)                                        
|Fagerhult AB  (Sweden, Electrical Equipment)                           
|                                                                       
|Market Sectors as of April 30, 2015                                    
|                                                                       
|Industrials                                                            
|Financials                                                             
|Consumer Discretionary                                                 
|Information Technology                                                 
|Consumer Staples                                                       
|Materials                                                              
|Health Care                                                            
|Energy                                                                 

Semiannual Report

---

# Investments April 30, 2015 (Unaudited)

Showing Percentage of Net Assets

|Common Stocks - 95.5%                                      
|-----------------------------------------------------------
|                                                           
|Australia - 1.8%                                           
|DuluxGroup Ltd.                                            
|Imdex Ltd. (a)                                             
|RCG Corp. Ltd.                                             
|Sydney Airport unit                                        
|TFS Corp. Ltd.                                             
|TOTAL AUSTRALIA                                            
|Austria - 1.4%                                             
|Andritz AG                                                 
|Zumtobel AG                                                
|TOTAL AUSTRIA                                              
|Belgium - 1.3%                                             
|Gimv NV                                                    
|KBC Ancora (a)                                             
|TOTAL BELGIUM                                              
|Bermuda - 1.1%                                             
|Lazard Ltd. Class A                                        
|Petra Diamonds Ltd. (a)                                    
|Vostok Nafta Investment Ltd. SDR (a)                       
|TOTAL BERMUDA                                              
|British Virgin Islands - 0.2%                              
|Gem Diamonds Ltd.                                          
|Canada - 1.5%                                              
|Cara Operations Ltd. (a)                                   
|McCoy Global, Inc.                                         
|New Look Eyewear, Inc.                                     
|Pason Systems, Inc.                                        
|ShawCor Ltd. Class A                                       
|TOTAL CANADA                                               
|Cayman Islands - 0.7%                                      
|58.com, Inc. ADR (a)(d)                                    
|Common Stocks - continued                                  
|                                                           
|Denmark - 1.7%                                             
|Jyske Bank A/S (Reg.) (a)                                  
|Spar Nord Bank A/S                                         
|TOTAL DENMARK                                              
|Finland - 0.4%                                             
|Tikkurila Oyj                                              
|France - 1.9%                                              
|Coface SA                                                  
|Laurent-Perrier Group SA                                   
|Vetoquinol SA                                              
|Virbac SA                                                  
|TOTAL FRANCE                                               
|Germany - 4.0%                                             
|alstria office REIT-AG                                     
|CompuGroup Medical AG                                      
|CTS Eventim AG (d)                                         
|Fielmann AG                                                
|TOTAL GERMANY                                              
|Greece - 0.4%                                              
|Titan Cement Co. SA (Reg.)                                 
|India - 0.4%                                               
|Jyothy Laboratories Ltd. (a)                               
|Ireland - 1.5%                                             
|FBD Holdings PLC                                           
|James Hardie Industries PLC:                               
|CDI                                                        
|sponsored ADR                                              
|TOTAL IRELAND                                              
|Israel - 1.7%                                              
|Azrieli Group                                              
|Ituran Location & Control Ltd.                             
|Sarine Technologies Ltd.                                   
|Strauss Group Ltd. (a)                                     
|TOTAL ISRAEL                                               
|Italy - 4.6%                                               
|Azimut Holding SpA                                         
|Banco di Desio e della Brianza SpA                         
|Common Stocks - continued                                  
|                                                           
|Italy - continued                                          
|Beni Stabili SpA SIIQ                                      
|Interpump Group SpA                                        
|TOTAL ITALY                                                
|Japan - 26.7%                                              
|Aozora Bank Ltd.                                           
|Artnature, Inc.                                            
|Asahi Co. Ltd.                                             
|Autobacs Seven Co. Ltd.                                    
|Azbil Corp.                                                
|Broadleaf Co. Ltd.                                         
|Coca-Cola Central Japan Co. Ltd.                           
|Cosmos Pharmaceutical Corp.                                
|Daiichikosho Co. Ltd.                                      
|Daikokutenbussan Co. Ltd.                                  
|GCA Savvian Group Corp.                                    
|Glory Ltd.                                                 
|Goldcrest Co. Ltd.                                         
|Harmonic Drive Systems, Inc.                               
|Iwatsuka Confectionary Co. Ltd.                            
|Japan Digital Laboratory Co.                               
|Kobayashi Pharmaceutical Co. Ltd.                          
|Koshidaka Holdings Co. Ltd.                                
|Lasertec Corp.                                             
|Medikit Co. Ltd.                                           
|Meiko Network Japan Co. Ltd.                               
|Miraial Co. Ltd.                                           
|Nabtesco Corp.                                             
|Nagaileben Co. Ltd.                                        
|ND Software Co. Ltd.                                       
|Nihon M&A Center, Inc.                                     
|Nihon Parkerizing Co. Ltd.                                 
|Nippon Seiki Co. Ltd.                                      
|NS Tool Co. Ltd.                                           
|OBIC Co. Ltd.                                              
|OSG Corp.                                                  
|Paramount Bed Holdings Co. Ltd.                            
|San-Ai Oil Co. Ltd.                                        
|Seven Bank Ltd.                                            
|SHO-BOND Holdings Co. Ltd.                                 
|Shoei Co. Ltd.                                             
|SK Kaken Co. Ltd.                                          
|Common Stocks - continued                                  
|                                                           
|Japan - continued                                          
|Software Service, Inc.                                     
|Techno Medica Co. Ltd.                                     
|TFP Consulting Group Co. Ltd.                              
|The Monogatari Corp.                                       
|The Nippon Synthetic Chemical Industry Co. Ltd.            
|TKC Corp.                                                  
|Tocalo Co. Ltd.                                            
|Tsutsumi Jewelry Co. Ltd.                                  
|USS Co. Ltd.                                               
|Workman Co. Ltd.                                           
|Yamato Kogyo Co. Ltd.                                      
|TOTAL JAPAN                                                
|Korea (South) - 2.8%                                       
|BGFretail Co. Ltd.                                         
|Coway Co. Ltd.                                             
|Leeno Industrial, Inc.                                     
|TOTAL KOREA (SOUTH)                                        
|Mexico - 0.6%                                              
|Consorcio ARA S.A.B. de CV (a)                             
|Netherlands - 3.3%                                         
|Aalberts Industries NV                                     
|ASM International NV (depositary receipt)                  
|Heijmans NV (Certificaten Van Aandelen)                    
|VastNed Retail NV                                          
|TOTAL NETHERLANDS                                          
|Norway - 0.3%                                              
|Kongsberg Gruppen ASA                                      
|Philippines - 0.5%                                         
|Jollibee Food Corp.                                        
|South Africa - 1.6%                                        
|Alexander Forbes Group Holding (a)                         
|Clicks Group Ltd.                                          
|Nampak Ltd.                                                
|TOTAL SOUTH AFRICA                                         
|Common Stocks - continued                                  
|                                                           
|Spain - 1.2%                                               
|Hispania Activos Inmobiliarios SA (a)                      
|Prosegur Compania de Seguridad SA (Reg.)                   
|TOTAL SPAIN                                                
|Sweden - 2.8%                                              
|Fagerhult AB                                               
|Intrum Justitia AB                                         
|TOTAL SWEDEN                                               
|Taiwan - 0.4%                                              
|Addcn Technology Co. Ltd.                                  
|Turkey - 0.9%                                              
|Albaraka Turk Katilim Bankasi A/S                          
|Coca-Cola Icecek Sanayi A/S                                
|TOTAL TURKEY                                               
|United Kingdom - 21.4%                                     
|AA PLC                                                     
|Babcock International Group PLC                            
|Bellway PLC                                                
|Berendsen PLC                                              
|Britvic PLC                                                
|Dechra Pharmaceuticals PLC                                 
|Derwent London PLC                                         
|Elementis PLC                                              
|Great Portland Estates PLC                                 
|H&T Group PLC                                              
|Hilton Food Group PLC                                      
|Howden Joinery Group PLC                                   
|Informa PLC                                                
|InterContinental Hotel Group PLC ADR                       
|ITE Group PLC                                              
|Johnson Matthey PLC                                        
|JUST EAT Ltd. (a)                                          
|Meggitt PLC                                                
|Rightmove PLC                                              
|Rotork PLC                                                 
|Shaftesbury PLC                                            
|Spectris PLC                                               
|Spirax-Sarco Engineering PLC                               
|Taylor Wimpey PLC                                          
|Ted Baker PLC                                              
|Common Stocks - continued                                  
|                                                           
|United Kingdom - continued                                 
|Ultra Electronics Holdings PLC                             
|Unite Group PLC                                            
|TOTAL UNITED KINGDOM                                       
|United States of America - 8.4%                            
|ANSYS, Inc. (a)                                            
|Autoliv, Inc.                                              
|Broadridge Financial Solutions, Inc.                       
|China Biologic Products, Inc. (a)                          
|Dril-Quip, Inc. (a)                                        
|Evercore Partners, Inc. Class A                            
|Kennedy-Wilson Holdings, Inc.                              
|Martin Marietta Materials, Inc.                            
|Mohawk Industries, Inc. (a)                                
|Oceaneering International, Inc.                            
|PriceSmart, Inc.                                           
|ResMed, Inc.                                               
|Solera Holdings, Inc.                                      
|SS&C Technologies Holdings, Inc.                           
|TOTAL UNITED STATES OF AMERICA                             
|TOTAL COMMON STOCKS
(Cost $529,613,258)                    
|Nonconvertible Preferred Stocks - 1.2%                     
|                                                           
|Germany - 1.2%                                             
|Sartorius AG (non-vtg.)
(Cost $6,020,447)                  
|Money Market Funds - 4.1%                                  
|                                                           
|Fidelity Cash Central Fund, 0.15% (b)                      
|Fidelity Securities Lending Cash Central Fund, 0.17% (b)(c)
|TOTAL MONEY MARKET FUNDS
(Cost $29,347,363)                
|TOTAL INVESTMENT PORTFOLIO - 100.8%
(Cost $564,981,068)    
|NET OTHER ASSETS (LIABILITIES) - (0.8)%                    
|NET ASSETS - 100%                                          

|Legend                                                                                                                                                                                                                                                                                                                                                                                                                                           
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|(a)	Non-income producing                                                                                                                                                                                                                                                                                                                                                                                                                         
|(b)	Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.
|(c)	Investment made with cash collateral received from securities on loan.                                                                                                                                                                                                                                                                                                                                                                       
|(d)	Security or a portion of the security is on loan at period end.                                                                                                                                                                                                                                                                                                                                                                              
|Affiliated Central Funds                                                                                                                                                                                                                                                                                                                                                                                                                         
|Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:                                                                                                                                                                                                                                                                                                                    

|Fund                                          | Income earned
|--------------------------------------------- | -------------
|Fidelity Cash Central Fund                    | $	11,801     
|Fidelity Securities Lending Cash Central Fund | 11,304       
|Total                                         | $	23,105     

|Other Information                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|Categorizations in the Schedule of Investments are based on country or territory of incorporation.                                                                                                                                                                                                                                                                                                                                                                                             
|The following is a summary of the inputs used, as of April 30, 2015, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the tables below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

|Valuation Inputs at Reporting Date:
|-----------------------------------
|Description                        
|Investments in Securities:         
|Equities:                          
|Consumer Discretionary             
|Consumer Staples                   
|Energy                             
|Financials                         
|Health Care                        
|Industrials                        
|Information Technology             
|Materials                          
|Money Market Funds                 
|Total Investments in Securities:   

|The following is a summary of transfers between Level 1 and Level 2 for the period ended April 30, 2015. Transfers are assumed to have occurred at the beginning of the period, and are primarily attributable to the valuation techniques used for foreign equity securities, as discussed in the accompanying Notes to Financial Statements:
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|Transfers          | Total        
|------------------ | -------------
|Level 1 to Level 2 | $	284,109,312
|Level 2 to Level 1 | $	24,803,389 

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

---

# Financial Statements

## Statement of Assets and Liabilities

|                                                                                                                                                     | April 30, 2015 (Unaudited)
|---------------------------------------------------------------------------------------------------------------------------------------------------- | --------------------------
|                                                                                                                                                     |                           
|Assets                                                                                                                                               |                           
|Investment in securities, at value (including securities loaned of $7,168,659) - See accompanying schedule:
Unaffiliated issuers (cost $535,633,705) | $	692,925,982             
|Fidelity Central Funds (cost $29,347,363)                                                                                                            | 29,347,363                
|Total Investments (cost $564,981,068)                                                                                                                |                           
|Cash                                                                                                                                                 |                           
|Receivable for investments sold                                                                                                                      |                           
|Receivable for fund shares sold                                                                                                                      |                           
|Dividends receivable                                                                                                                                 |                           
|Distributions receivable from Fidelity Central Funds                                                                                                 |                           
|Prepaid expenses                                                                                                                                     |                           
|Other receivables                                                                                                                                    |                           
|Total assets                                                                                                                                         |                           
|                                                                                                                                                     |                           
|Liabilities                                                                                                                                          |                           
|Payable for investments purchased                                                                                                                    | $	2,760,147               
|Payable for fund shares redeemed                                                                                                                     | 498,949                   
|Accrued management fee                                                                                                                               | 536,930                   
|Distribution and service plan fees payable                                                                                                           | 19,445                    
|Other affiliated payables                                                                                                                            | 158,612                   
|Other payables and accrued expenses                                                                                                                  | 61,685                    
|Collateral on securities loaned, at value                                                                                                            | 7,573,050                 
|Total liabilities                                                                                                                                    |                           
|                                                                                                                                                     |                           
|Net Assets                                                                                                                                           |                           
|Net Assets consist of:                                                                                                                               |                           
|Paid in capital                                                                                                                                      |                           
|Undistributed net investment income                                                                                                                  |                           
|Accumulated undistributed net realized gain (loss) on investments and foreign currency transactions                                                  |                           
|Net unrealized appreciation (depreciation) on investments and assets and liabilities in foreign currencies                                           |                           
|Net Assets                                                                                                                                           |                           

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

Financial Statements - continued

## Statement of Assets and Liabilities - continued

|                                                                                                                                         | April 30, 2015 (Unaudited)
|---------------------------------------------------------------------------------------------------------------------------------------- | --------------------------
|                                                                                                                                         |                           
|Calculation of Maximum Offering Price
Class A:
Net Asset Value and redemption price per share ($26,951,611 ÷ 1,800,939 shares)           |                           
|                                                                                                                                         |                           
|Maximum offering price per share (100/94.25 of $14.97)                                                                                   |                           
|Class T:
Net Asset Value and redemption price per share ($10,384,127 ÷ 699,021 shares)                                                   |                           
|                                                                                                                                         |                           
|Maximum offering price per share (100/96.50 of $14.86)                                                                                   |                           
|Class B:
Net Asset Value and offering price per share ($693,196 ÷ 47,434 shares)A                                                        |                           
|                                                                                                                                         |                           
|Class C:
Net Asset Value and offering price per share ($11,050,541 ÷ 761,041 shares)A                                                    |                           
|                                                                                                                                         |                           
|International Small Cap Opportunities:
Net Asset Value, offering price and redemption price per share ($583,522,169 ÷ 38,634,638 shares) |                           
|                                                                                                                                         |                           
|Institutional Class:
Net Asset Value, offering price and redemption price per share ($83,926,116 ÷ 5,558,259 shares)                     |                           

ARedemption price per share is equal to net asset value less any applicable contingent deferred sales charge.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Statement of Operations

|Six months ended April 30, 2015 (Unaudited)                                   
|------------------------------------------------------------------------------
|                                                                              
|Investment Income                                                             
|Dividends                                                                     
|Income from Fidelity Central Funds                                            
|Income before foreign taxes withheld                                          
|Less foreign taxes withheld                                                   
|Total income                                                                  
|                                                                              
|Expenses                                                                      
|Management fee
Basic fee                                                      
|Performance adjustment                                                        
|Transfer agent fees                                                           
|Distribution and service plan fees                                            
|Accounting and security lending fees                                          
|Custodian fees and expenses                                                   
|Independent trustees' compensation                                            
|Registration fees                                                             
|Audit                                                                         
|Legal                                                                         
|Miscellaneous                                                                 
|Total expenses before reductions                                              
|Expense reductions                                                            
|Net investment income (loss)                                                  
|Realized and Unrealized Gain (Loss)
Net realized gain (loss) on:              
|Investment securities:                                                        
|Unaffiliated issuers                                                          
|Foreign currency transactions                                                 
|Total net realized gain (loss)                                                
|Change in net unrealized appreciation (depreciation) on:
Investment securities
|Assets and liabilities in foreign currencies                                  
|Total change in net unrealized appreciation (depreciation)                    
|Net gain (loss)                                                               
|Netincrease (decrease) in net assets resulting from operations                

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

Financial Statements - continued

## Statement of Changes in Net Assets

|                                                                                                                                                | Six months ended April 30, 2015 (Unaudited) | Year ended 
October 31, 
2014
|----------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------------------- | -----------------------------
|Increase (Decrease) in Net Assets                                                                                                               |                                             |                              
|Operations                                                                                                                                      |                                             |                              
|Net investment income (loss)                                                                                                                    | $	1,591,233                                 | $	3,975,650                  
|Net realized gain (loss)                                                                                                                        | 20,675,917                                  | 27,466,423                   
|Change in net unrealized appreciation (depreciation)                                                                                            | 43,530,001                                  | (28,661,157)                 
|Netincrease (decrease) in net assets resulting
from operations                                                                                  | 65,797,151                                  | 2,780,916                    
|Distributions to shareholders from net investment income                                                                                        | (3,982,311)                                 | (3,580,601)                  
|Distributions to shareholders from net realized gain                                                                                            | (949,656)                                   | (3,233,620)                  
|Total distributions                                                                                                                             | (4,931,967)                                 | (6,814,221)                  
|Share transactions - net increase (decrease)                                                                                                    | (2,603,053)                                 | 97,201,705                   
|Redemption fees                                                                                                                                 | 54,477                                      | 84,800                       
|Total increase (decrease) in net assets                                                                                                         | 58,316,608                                  | 93,253,200                   
|                                                                                                                                                |                                             |                              
|Net Assets                                                                                                                                      |                                             |                              
|Beginning of period                                                                                                                             | 658,211,152                                 | 564,957,952                  
|End of period (including undistributed net investment income of $1,599,439 and undistributed net investment income of $3,990,517, respectively) | $	716,527,760                               | $	658,211,152                

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - Class A

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | Six months ended April 30, 2015 | Years ended October 31,
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------- | -----------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | (Unaudited)                     | 2014                   
|Selected Per-Share Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |                                 |                        
|Net asset value, beginning of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $	13.65                         | $	13.68                
|Income from Investment Operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |                                 |                        
|Net investment income (loss)E                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | .01                             | .05                    
|Net realized and unrealized gain (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | 1.38                            | .05                    
|Total from investment operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | 1.39                            | .10                    
|Distributions from net investment income                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | (.05)                           | (.06)                  
|Distributions from net realized gain                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | (.02)                           | (.08)                  
|Total distributions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | (.07)                           | (.13)L                 
|Redemption fees added to paid in capitalE,J                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | -                               | -                      
|Net asset value, end of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | $	14.97                         | $	13.65                
|Total ReturnB, C, D                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | 10.24%                          | .78%                   
|Ratios to Average Net AssetsF, I                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |                                 |                        
|Expenses before reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | 1.57%A                          | 1.63%                  
|Expenses net of fee waivers, if any                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | 1.57%A                          | 1.63%                  
|Expenses net of all reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | 1.57%A                          | 1.63%                  
|Net investment income (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | .21%A                           | .33%                   
|Supplemental Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |                                 |                        
|Net assets, end of period (000 omitted)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | $26,952                         | $	25,041               
|Portfolio turnover rateG                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | 17%A                            | 18%                    
|AAnnualizedBTotal returns for periods of less than one year are not annualized.CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.DTotal returns do not include the effect of the sales charges.ECalculated based on average shares outstanding during the period.FFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.GAmount does not include the portfolio activity of any underlying Fidelity Central Funds.HInvestment income per share reflects a large, non-recurring dividend which amounted to $.06 per share. Excluding this non-recurring dividend, the ratio of net investment income (loss) to average net assets would have been .80%.IExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.JAmount represents less than $.01 per share.KTotal distributions of $.08 per share is comprised of distributions from net investment income of $.077 and distributions from net realized gain of $.005 per share.LTotal distributions of $.13 per share is comprised of distributions from net investment income of $.055 and distributions from net realized gain of $.079 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - Class T

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | Six months ended April 30, 2015 | Years ended October 31,
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------- | -----------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | (Unaudited)                     | 2014                   
|Selected Per-Share Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |                                 |                        
|Net asset value, beginning of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | $	13.53                         | $	13.56                
|Income from Investment Operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                                 |                        
|Net investment income (loss)E                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | -J                              | .01                    
|Net realized and unrealized gain (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | 1.36                            | .06                    
|Total from investment operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | 1.36                            | .07                    
|Distributions from net investment income                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | (.01)                           | (.02)                  
|Distributions from net realized gain                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | (.02)                           | (.08)                  
|Total distributions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | (.03)                           | (.10)                  
|Redemption fees added to paid in capitalE,J                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | -                               | -                      
|Net asset value, end of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | $	14.86                         | $	13.53                
|Total ReturnB, C, D                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | 10.05%                          | .55%                   
|Ratios to Average Net AssetsF, I                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |                                 |                        
|Expenses before reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | 1.83%A                          | 1.89%                  
|Expenses net of fee waivers, if any                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | 1.83%A                          | 1.89%                  
|Expenses net of all reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | 1.83%A                          | 1.89%                  
|Net investment income (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | (.06)%A                         | .07%                   
|Supplemental Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                                 |                        
|Net assets, end of period (000 omitted)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | $	10,384                        | $	9,913                
|Portfolio turnover rateG                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | 17%A                            | 18%                    
|AAnnualizedBTotal returns for periods of less than one year are not annualized.CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.DTotal returns do not include the effect of the sales charges.ECalculated based on average shares outstanding during the period.FFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.GAmount does not include the portfolio activity of any underlying Fidelity Central Funds.HInvestment income per share reflects a large, non-recurring dividend which amounted to $.06 per share. Excluding this non-recurring dividend, the ratio of net investment income (loss) to average net assets would have been .54%.IExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.JAmount represents less than $.01 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - Class B

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | Six months ended April 30, 2015 | Years ended October 31,
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------- | -----------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | (Unaudited)                     | 2014                   
|Selected Per-Share Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |                                 |                        
|Net asset value, beginning of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $	13.31                         | $	13.31                
|Income from Investment Operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |                                 |                        
|Net investment income (loss)E                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | (.04)                           | (.06)                  
|Net realized and unrealized gain (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | 1.34                            | .06                    
|Total from investment operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | 1.30                            | -                      
|Distributions from net investment income                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | -                               | -                      
|Distributions from net realized gain                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | -                               | -                      
|Total distributions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | -                               | -                      
|Redemption fees added to paid in capitalE,J                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | -                               | -                      
|Net asset value, end of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | $	14.61                         | $	13.31                
|Total ReturnB, C, D                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | 9.77%                           | -%                     
|Ratios to Average Net AssetsF, I                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |                                 |                        
|Expenses before reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | 2.33%A                          | 2.38%                  
|Expenses net of fee waivers, if any                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | 2.33%A                          | 2.38%                  
|Expenses net of all reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | 2.32%A                          | 2.38%                  
|Net investment income (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | (.55)%A                         | (.43)%                 
|Supplemental Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |                                 |                        
|Net assets, end of period (000 omitted)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $	693                           | $	744                  
|Portfolio turnover rateG                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | 17%A                            | 18%                    
|AAnnualizedBTotal returns for periods of less than one year are not annualized.CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.DTotal returns do not include the effect of the contingent deferred sales charge.ECalculated based on average shares outstanding during the period.FFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.GAmount does not include the portfolio activity of any underlying Fidelity Central Funds.HInvestment income per share reflects a large, non-recurring dividend which amounted to $.06 per share. Excluding this non-recurring dividend, the ratio of net investment income (loss) to average net assets would have been .05%.IExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.JAmount represents less than $.01 per share.KTotal distributions of $.07 per share is comprised of distributions from net investment income of $.058 and distributions from net realized gain of $.015 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - Class C

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | Six months ended April 30, 2015 | Years ended October 31,
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------- | -----------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | (Unaudited)                     | 2014                   
|Selected Per-Share Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |                                 |                        
|Net asset value, beginning of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $	13.23                         | $	13.28                
|Income from Investment Operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |                                 |                        
|Net investment income (loss)E                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | (.04)                           | (.06)                  
|Net realized and unrealized gain (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | 1.33                            | .06                    
|Total from investment operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | 1.29                            | -                      
|Distributions from net investment income                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | -                               | -                      
|Distributions from net realized gain                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | -                               | (.05)                  
|Total distributions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | -                               | (.05)                  
|Redemption fees added to paid in capitalE,J                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | -                               | -                      
|Net asset value, end of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | $	14.52                         | $	13.23                
|Total ReturnB, C, D                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | 9.75%                           | .03%                   
|Ratios to Average Net AssetsF, I                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |                                 |                        
|Expenses before reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | 2.32%A                          | 2.38%                  
|Expenses net of fee waivers, if any                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | 2.32%A                          | 2.38%                  
|Expenses net of all reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | 2.32%A                          | 2.38%                  
|Net investment income (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | (.54)%A                         | (.42)%                 
|Supplemental Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |                                 |                        
|Net assets, end of period (000 omitted)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $11,051                         | $	8,438                
|Portfolio turnover rateG                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | 17%A                            | 18%                    
|AAnnualizedBTotal returns for periods of less than one year are not annualized.CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.DTotal returns do not include the effect of the contingent deferred sales charge.ECalculated based on average shares outstanding during the period.FFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.GAmount does not include the portfolio activity of any underlying Fidelity Central Funds.HInvestment income per share reflects a large, non-recurring dividend which amounted to $.06 per share. Excluding this non-recurring dividend, the ratio of net investment income (loss) to average net assets would have been .05%.IExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.JAmount represents less than $.01 per share.KTotal distributions of $.07 per share is comprised of distributions from net investment income of $.058 and distributions from net realized gain of $.015 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - International Small Cap Opportunities

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | Six months ended April 30, 2015 | Years ended October 31,
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ------------------------------- | -----------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | (Unaudited)                     | 2014                   
|Selected Per-Share Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                                 |                        
|Net asset value, beginning of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | $	13.80                         | $	13.82                
|Income from Investment Operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                                 |                        
|Net investment income (loss)D                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | .04                             | .09                    
|Net realized and unrealized gain (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | 1.37                            | .06                    
|Total from investment operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | 1.41                            | .15                    
|Distributions from net investment income                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | (.09)                           | (.09)                  
|Distributions from net realized gain                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | (.02)                           | (.08)                  
|Total distributions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | (.11)                           | (.17)                  
|Redemption fees added to paid in capitalD,I                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | -                               | -                      
|Net asset value, end of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | $	15.10                         | $	13.80                
|Total ReturnB, C                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | 10.31%                          | 1.11%                  
|Ratios to Average Net AssetsE, H                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |                                 |                        
|Expenses before reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | 1.26%A                          | 1.30%                  
|Expenses net of fee waivers, if any                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | 1.26%A                          | 1.30%                  
|Expenses net of all reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | 1.26%A                          | 1.30%                  
|Net investment income (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | .52%A                           | .65%                   
|Supplemental Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                                 |                        
|Net assets, end of period (000 omitted)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | $583,522                        | $	584,253              
|Portfolio turnover rateF                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | 17%A                            | 18%                    
|AAnnualizedBTotal returns for periods of less than one year are not annualized.CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.DCalculated based on average shares outstanding during the period.EFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.FAmount does not include the portfolio activity of any underlying Fidelity Central Funds.GInvestment income per share reflects a large, non-recurring dividend which amounted to $.07 per share. Excluding this non-recurring dividend, the ratio of net investment income (loss) to average net assets would have been 1.06%.HExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.IAmount represents less than $.01 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - Institutional Class

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | Six months ended April 30, 2015 | Years ended October 31,
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ------------------------------- | -----------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | (Unaudited)                     | 2014                   
|Selected Per-Share Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                                 |                        
|Net asset value, beginning of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | $	13.81                         | $	13.83                
|Income from Investment Operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                                 |                        
|Net investment income (loss)D                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | .04                             | .08                    
|Net realized and unrealized gain (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | 1.38                            | .07                    
|Total from investment operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | 1.42                            | .15                    
|Distributions from net investment income                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | (.11)                           | (.09)                  
|Distributions from net realized gain                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | (.02)                           | (.08)                  
|Total distributions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | (.13)                           | (.17)                  
|Redemption fees added to paid in capitalD,I                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | -                               | -                      
|Net asset value, end of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | $	15.10                         | $	13.81                
|Total ReturnB, C                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | 10.36%                          | 1.11%                  
|Ratios to Average Net AssetsE, H                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |                                 |                        
|Expenses before reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | 1.22%A                          | 1.36%                  
|Expenses net of fee waivers, if any                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | 1.22%A                          | 1.36%                  
|Expenses net of all reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | 1.22%A                          | 1.36%                  
|Net investment income (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | .55%A                           | .60%                   
|Supplemental Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                                 |                        
|Net assets, end of period (000 omitted)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | $83,926                         | $	29,822               
|Portfolio turnover rateF                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | 17%A                            | 18%                    
|AAnnualizedBTotal returns for periods of less than one year are not annualized.CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.DCalculated based on average shares outstanding during the period.EFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.FAmount does not include the portfolio activity of any underlying Fidelity Central Funds.GInvestment income per share reflects a large, non-recurring dividend which amounted to $.07 per share. Excluding this non-recurring dividend, the ratio of net investment income (loss) to average net assets would have been 1.11%.HExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.IAmount represents less than $.01 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

---

# Notes to Financial Statements

For the period ended April 30, 2015 (Unaudited)

1. Organization.

Fidelity® International Small Cap Opportunities Fund (the Fund) is a fund of Fidelity Investment Trust (the Trust) and is authorized to issue an unlimited number of shares. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Massachusetts business trust. The Fund offers Class A, Class T, Class C, International Small Cap Opportunities and Institutional Class shares, each of which, along with Class B shares, has equal rights as to assets and voting privileges. Class B shares are closed to new accounts and additional purchases, except for exchanges and reinvestments. Each class has exclusive voting rights with respect to matters that affect that class. Class B shares will automatically convert to Class A shares after a holding period of seven years from the initial date of purchase.

2. Investments in Fidelity Central Funds.

The Fund invests in Fidelity Central Funds, which are open-end investment companies generally available only to other investment companies and accounts managed by the investment adviser and its affiliates. The Fund's Schedule of Investments lists each of the Fidelity Central Funds held as of period end, if any, as an investment of the Fund, but does not include the underlying holdings of each Fidelity Central Fund. As an Investing Fund, the Fund indirectly bears its proportionate share of the expenses of the underlying Fidelity Central Funds.

The Money Market Central Funds seek preservation of capital and current income and are managed by Fidelity Investments Money Management, Inc. (FIMM), an affiliate of the investment adviser. Annualized expenses of the Money Market Central Funds as of their most recent shareholder report date are less than .01%.

A complete unaudited list of holdings for each Fidelity Central Fund is available upon request or at the Securities and Exchange Commission (the SEC) website at www.sec.gov. In addition, the financial statements of the Fidelity Central Funds are available on the SEC website or upon request.

3. Significant Accounting Policies.

The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP), which require management to make certain estimates and assumptions at the date of the financial statements. Actual results could differ from those estimates. Subsequent events, if any, through the date that the financial statements were issued have been evaluated in the preparation of the financial statements. The following summarizes the significant accounting policies of the Fund:

Semiannual Report

Notes to Financial Statements (Unaudited) - continued

3. Significant Accounting Policies - continued

Investment Valuation.Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. The Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fidelity Management & Research Company (FMR) Fair Value Committee (the Committee). In accordance with valuation policies and procedures approved by the Board, the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund's valuation policies and procedures and reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee.

The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels as shown below:

Level 1 - quoted prices in active markets for identical investments

Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, etc.)

Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available)

Valuation techniques used to value the Fund's investments by major category are as follows:

Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing vendor on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. Utilizing these techniques may result in transfers between Level 1 and Level 2.

Semiannual Report

3. Significant Accounting Policies - continued

Investment Valuation - continued

For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy.

Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy.

Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. The aggregate value of investments by input level, as of April 30, 2015, including information on transfers between Levels 1 and 2 is included at the end of the Fund's Schedule of Investments.

Foreign Currency.The Fund may use foreign currency contracts to facilitate transactions in foreign-denominated securities. Gains and losses from these transactions may arise from changes in the value of the foreign currency or if the counterparties do not perform under the contracts' terms.

Foreign-denominated assets, including investment securities, and liabilities are translated into U.S. dollars at the exchange rates at period end. Purchases and sales of investment securities, income and dividends received and expenses denominated in foreign currencies are translated into U.S. dollars at the exchange rate in effect on the transaction date.

The effects of exchange rate fluctuations on investments are included with the net realized and unrealized gain (loss) on investment securities. Other foreign currency transactions resulting in realized and unrealized gain (loss) are disclosed separately.

Investment Transactions and Income.For financial reporting purposes, the Fund's investment holdings and NAV include trades executed through the end of the last business day of the period. The NAV per share for processing shareholder transactions is calculated as of the close of business of the New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time and includes trades executed through the end of the prior business day. Gains and losses on securities sold are determined on the basis of identified cost. Dividend income is recorded on the ex-dividend date, except for certain dividends from foreign securities where the ex-dividend date may have passed, which are recorded as soon as the Fund is informed of the ex-dividend date. Non-cash dividends included in dividend income, if any, are recorded at the fair market value of the securities received. Income and capital gain distributions from Fidelity Central Funds, if any, are recorded on the ex-dividend date. Distributions received on securities that represent a return of

Semiannual Report

Notes to Financial Statements (Unaudited) - continued

3. Significant Accounting Policies - continued

Investment Transactions and Income - continued

capital or capital gain are recorded as a reduction of cost of investments and/or as a realized gain. Subsequent to ex-dividend date the Fund determines the components of these distributions, based upon receipt of tax filings or other correspondence relating to the underlying investment. Investment income is recorded net of foreign taxes withheld where recovery of such taxes is uncertain.

Class Allocations andExpenses. Investment income, realized and unrealized capital gains and losses, common expenses of the Fund, and certain fund-level expense reductions, if any, are allocated daily on a pro-rata basis to each class based on the relative net assets of each class to the total net assets of the Fund. Each class differs with respect to transfer agent and distribution and service plan fees incurred. Certain expense reductions may also differ by class. For the reporting period, the allocated portion of income and expenses to each class as a percent of its average net assets may vary due to the timing of recording these transactions in relation to fluctuating net assets of the classes. Expenses directly attributable to a fund are charged to that fund. Expenses attributable to more than one fund are allocated among the respective funds on the basis of relative net assets or other appropriate methods. Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.

Income Tax Information and Distributions to Shareholders. Each year, the Fund intends to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code, including distributing substantially all of its taxable income and realized gains. As a result, no provision for U.S. Federal income taxes is required. The Fund files a U.S. federal tax return, in addition to state and local tax returns as required. The Fund's federal income tax returns are subject to examination by the Internal Revenue Service (IRS) for a period of three fiscal years after they are filed. State and local tax returns may be subject to examination for an additional fiscal year depending on the jurisdiction. Foreign taxes are provided for based on the Fund's understanding of the tax rules and rates that exist in the foreign markets in which it invests.

Distributions are declared and recorded on the ex-dividend date. Income dividends and capital gain distributions are declared separately for each class. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP.

Capital accounts within the financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations. Capital accounts are not adjusted for temporary book-tax differences which will reverse in a subsequent period.

Semiannual Report

3. Significant Accounting Policies - continued

Income Tax Information and Distributions to Shareholders - continued

Book-tax differences are primarily due to foreign currency transactions, partnerships, passive foreign investment companies (PFIC), capital loss carryforwards and losses deferred due to wash sales.

The federal tax cost of investment securities and unrealized appreciation (depreciation) as of period end were as follows:

|Gross unrealized appreciation                            | $	177,137,274
|-------------------------------------------------------- | -------------
|Gross unrealized depreciation                            | (24,246,066) 
|Net unrealized appreciation (depreciation) on securities | $	152,891,208
|                                                         |              
|Tax cost                                                 | $	569,382,137

Capital loss carryforwards are only available to offset future capital gains of the Fund to the extent provided by regulations and may be limited. Under the Regulated Investment Company Modernization Act of 2010 (the Act), the Fund is permitted to carry forward capital losses incurred in taxable years beginning after December 22, 2010 for an unlimited period and such capital losses are required to be used prior to any losses that expire. The capital loss carryforward information presented below, including any applicable limitation, is estimated as of prior fiscal period end and is subject to adjustment.

|Fiscal year of expiration |                
|------------------------- | ---------------
|2017                      | $	(284,273,262)

Short-Term Trading (Redemption) Fees. Shares held by investors in the Fund less than 90 days may have been subject to a redemption fee equal to 2.00% of the NAV of shares redeemed. All redemption fees, which reduce the proceeds of the shareholder redemption, are retained by the Fund and accounted for as an addition to paid in capital.

New Accounting Pronouncement.In June 2014, the Financial Accounting Standards Board issued Accounting Standard Update No. 2014-11, Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures (the Update). The Update amends the accounting for certain repurchase agreements and expands disclosure requirements for reverse repurchase agreements, securities lending and other similar transactions. The disclosure requirements are effective for annual and interim reporting periods beginning after December 15, 2014. Management is currently evaluating the impact of the Update on the Fund's financial statements and related disclosures.

Semiannual Report

Notes to Financial Statements (Unaudited) - continued

4. Purchases and Sales of Investments.

Purchases and sales of securities, other than short-term securities, aggregated $54,722,372 and $65,319,886, respectively.

5. Fees and Other Transactions with Affiliates.

Management Fee. Fidelity Management & Research Company (the investment adviser) and its affiliates provide the Fund with investment management related services for which the Fund pays a monthly management fee. The management fee is the sum of an individual fund fee rate that is based on an annual rate of .60% of the Fund's average net assets and an annualized group fee rate that averaged .25% during the period. The group fee rate is based upon the average net assets of all the mutual funds advised by the investment adviser, including any mutual funds previously advised by the investment adviser that are currently advised by Fidelity SelectCo, LLC, an affiliate of the investment adviser. The group fee rate decreases as assets under management increase and increases as assets under management decrease. In addition, the management fee is subject to a performance adjustment (up to a maximum of ± .20% of the Fund's average net assets over a 36 month performance period). The upward or downward adjustment to the management fee is based on the relative investment performance of International Small Cap Opportunities as compared to its benchmark index, the MSCI EAFE Small Cap Index, over the same 36 month performance period. For the reporting period, the total annualized management fee rate, including the performance adjustment, was .93% of the Fund's average net assets. The performance adjustment included in the management fee rate may be higher or lower than the maximum performance adjustment rate due to the difference between the average net assets for the reporting and performance periods.

Distribution and Service Plan Fees. In accordance with Rule 12b-1 of the 1940 Act, the Fund has adopted separate Distribution and Service Plans for each class of shares, except for the Institutional Class. Certain classes pay Fidelity Distributors Corporation (FDC), an affiliate of the investment adviser, separate Distribution and Service Fees, each of which is based on an annual percentage of each class' average net assets. In addition, FDC may pay financial intermediaries for selling shares of the Fund and providing shareholder support services. For the period, the Distribution and Service Fee rates, total fees and amounts retained by FDC were as follows:

|        | Distribution
Fee | Service
Fee | Total Fees | Retained
by FDC
|------- | ---------------- | ----------- | ---------- | ---------------
|Class A | -%               | .25%        | $	30,922   | $	973          
|Class T | .25%             | .25%        | 24,256     | 265            
|Class B | .75%             | .25%        | 3,484      | 2,627          
|Class C | .75%             | .25%        | 43,280     | 5,695          
|        |                  |             | $	101,942  | $	9,560        

Semiannual Report

5. Fees and Other Transactions with Affiliates - continued

Sales Load. FDC may receive a front-end sales charge of up to 5.75% for selling Class A shares and 3.50% for selling Class T shares, some of which is paid to financial intermediaries for selling shares of the Fund. Depending on the holding period, FDC may receive contingent deferred sales charges levied on Class A, Class T, Class B, and Class C redemptions. The deferred sales charges range from 5.00% to 1.00% for Class B shares, 1.00% for Class C shares, 1.00% for certain purchases of Class A shares and .25% for certain purchases of Class T shares.

For the period, sales charge amounts retained by FDC were as follows:

|         | Retained
by FDC
|-------- | ---------------
|Class A  | $	7,312        
|Class T  | 1,244          
|Class B* | 43             
|Class C* | 2,160          
|         | $	10,759       

*	When Class B and Class C shares are initially sold, FDC pays commissions from its own resources to financial intermediaries through which the sales 	are made.

Transfer Agent Fees.Fidelity Investments Institutional Operations Company, Inc., (FIIOC), an affiliate of the investment adviser, is the transfer, dividend disbursing and shareholder servicing agent for each class of the Fund. FIIOC receives account fees and asset-based fees that vary according to the account size and type of account of the shareholders of the respective classes of the Fund. FIIOC pays for typesetting, printing and mailing of shareholder reports, except proxy statements.

For the period, transfer agent fees for each class were as follows:

|                                      | Amount    | % of
Class-Level Average
Net Assets*
|------------------------------------- | --------- | ------------------------------------
|Class A                               | $	35,457  | .29                                 
|Class T                               | 14,581    | .30                                 
|Class B                               | 1,024     | .29                                 
|Class C                               | 12,577    | .29                                 
|International Small Cap Opportunities | 634,263   | .23                                 
|Institutional Class                   | 57,526    | .19                                 
|                                      | $	755,428 |                                     

*Annualized

Semiannual Report

Notes to Financial Statements (Unaudited) - continued

5. Fees and Other Transactions with Affiliates - continued

Accounting and Security Lending Fees.Fidelity Service Company, Inc. (FSC), an affiliate of the investment adviser, maintains the Fund's accounting records. The accounting fee is based on the level of average net assets for each month. Under a separate contract, FSC administers the security lending program. The security lending fee is based on the number and duration of lending transactions.

Brokerage Commissions.The Fund placed a portion of its portfolio transactions with brokerage firms which are affiliates of the investment adviser. Brokerage commissions are included in net realized gain (loss) and change in net unrealized appreciation (depreciation) in the Statement of Operations. The commissions paid to these affiliated firms were $139 for the period.

6. Committed Line of Credit.

The Fund participates with other funds managed by the investment adviser or an affiliate in a $4.25 billion credit facility (the "line of credit") to be utilized for temporary or emergency purposes to fund shareholder redemptions or for other short-term liquidity purposes. The Fund has agreed to pay commitment fees on its pro-rata portion of the line of credit, which amounted to $510 and is reflected in Miscellaneous expenses on the Statement of Operations. During the period, the Fund did not borrow on this line of credit.

7. Security Lending.

The Fund lends portfolio securities through a lending agent from time to time in order to earn additional income. For equity securities, a lending agent is used and may loan securities to certain qualified borrowers, including Fidelity Capital Markets (FCM), a broker-dealer affiliated with the Fund. On the settlement date of the loan, the Fund receives collateral (in the form of U.S. Treasury obligations, letters of credit and/or cash) against the loaned securities and maintains collateral in an amount not less than 100% of the market value of the loaned securities during the period of the loan. The market value of the loaned securities is determined at the close of business of the Fund and any additional required collateral is delivered to the Fund on the next business day. If the borrower defaults on its obligation to return the securities loaned because of insolvency or other reasons, the Fund may apply collateral received from the borrower against the obligation. The Fund may experience delays and costs in recovering the securities loaned. Any cash collateral received is invested in the Fidelity Securities Lending Cash Central Fund. The value of loaned securities and cash collateral at period end are disclosed on the Fund's Statement of Assets and Liabilities. Security lending income represents the income earned on investing cash collateral, less rebates paid to borrowers

Semiannual Report

7. Security Lending - continued

and any lending agent fees associated with the loan, plus any premium payments received for lending certain types of securities. Security lending income is presented in the Statement of Operations as a component of income from Fidelity Central Funds. Total security lending income during the period amounted to $11,304, including $739 from securities loaned to FCM.

8. Expense Reductions.

Commissions paid to certain brokers with whom the investment adviser, or its affiliates, places trades on behalf of the Fund include an amount in addition to trade execution, which may be rebated back to the Fund to offset certain expenses. This amount totaled $11,530 for the period.

In addition, the investment adviser reimbursed a portion of the Fund's operating expenses, including certain International Small Cap Opportunities expenses during the period in the amount of $390.

9. Distributions to Shareholders.

Distributions to shareholders of each class were as follows:

|                                      | Six months ended 
April 30, 
2015 | Year ended 
October 31, 
2014
|------------------------------------- | --------------------------------- | -----------------------------
|From net investment income            |                                   |                              
|Class A                               | $	91,925                          | $	88,584                     
|Class T                               | 4,261                             | 17,038                       
|International Small Cap Opportunities | 3,599,410                         | 3,435,414                    
|Institutional Class                   | 286,715                           | 39,565                       
|Total                                 | $	3,982,311                       | $	3,580,601                  
|From net realized gain                |                                   |                              
|Class A                               | $	38,609                          | $	127,238                    
|Class T                               | 14,913                            | 56,084                       
|Class C                               | -                                 | 33,933                       
|International Small Cap Opportunities | 839,863                           | 2,982,391                    
|Institutional Class                   | 56,271                            | 33,974                       
|Total                                 | $	949,656                         | $	3,233,620                  

Semiannual Report

Notes to Financial Statements (Unaudited) - continued

10. Share Transactions.

Share transactions for each class were as follows and may contain automatic conversions between classes or exchanges between funds:

|                                      | Shares                           | Dollars                      
|------------------------------------- | -------------------------------- | -----------------------------
|                                      | Six months ended April 30, 
2015 | Year ended 
October 31, 
2014
|Class A                               |                                  |                              
|Shares sold                           | 296,540                          | 589,478                      
|Reinvestment of distributions         | 9,185                            | 14,226                       
|Shares redeemed                       | (339,024)                        | (381,134)                    
|Net increase (decrease)               | (33,299)                         | 222,570                      
|Class T                               |                                  |                              
|Shares sold                           | 56,447                           | 159,216                      
|Reinvestment of distributions         | 1,404                            | 5,309                        
|Shares redeemed                       | (91,744)                         | (142,062)                    
|Net increase (decrease)               | (33,893)                         | 22,463                       
|Class B                               |                                  |                              
|Shares sold                           | 5,597                            | 1,461                        
|Shares redeemed                       | (14,082)                         | (51,497)                     
|Net increase (decrease)               | (8,485)                          | (50,036)                     
|Class C                               |                                  |                              
|Shares sold                           | 207,711                          | 200,445                      
|Reinvestment of distributions         | -                                | 2,336                        
|Shares redeemed                       | (84,605)                         | (172,604)                    
|Net increase (decrease)               | 123,106                          | 30,177                       
|International Small Cap Opportunities |                                  |                              
|Shares sold                           | 3,587,994                        | 13,421,171                   
|Reinvestment of distributions         | 239,997                          | 360,554                      
|Shares redeemed                       | (7,541,433)                      | (8,930,544)                  
|Net increase (decrease)               | (3,713,442)                      | 4,851,181                    
|Institutional Class                   |                                  |                              
|Shares sold                           | 3,812,188                        | 2,469,158                    
|Reinvestment of distributions         | 23,468                           | 4,980                        
|Shares redeemed                       | (437,357)                        | (724,026)                    
|Net increase (decrease)               | 3,398,299                        | 1,750,112                    

Semiannual Report

11. Other.

The Fund's organizational documents provide former and current trustees and officers with a limited indemnification against liabilities arising in connection with the performance of their duties to the Fund. In the normal course of business, the Fund may also enter into contracts that provide general indemnifications. The Fund's maximum exposure under these arrangements is unknown as this would be dependent on future claims that may be made against the Fund. The risk of material loss from such claims is considered remote.

Semiannual Report

Investment Adviser

Fidelity Management & Research Company

Boston, MA

Investment Sub-Advisers

FMR Co., Inc.

Fidelity Management & Research 
(Hong Kong) Limited

Fidelity Management & Research 
(Japan) Limited

FMR Investment Management
(U.K.) Limited

FIL Investment Advisors

FIL Investments (Japan) Limited

FIL Investment Advisors (U.K.) Limited

General Distributor

Fidelity Distributors Corporation

Smithfield, RI

Transfer and Service Agents

Fidelity Investments Institutional
Operations Company, Inc.

Boston, MA

Fidelity Service Company, Inc.

Boston, MA

Custodian

The Northern Trust Company

Chicago, IL



(Fidelity Investment logo)(registered trademark)

`AILS-USAN-0615
1.815093.109`

(Fidelity Investment logo)(registered trademark)FidelityAdvisor®

International Small Cap Opportunities

Fund - Institutional Class

Semiannual Report

April 30, 2015

(Fidelity Cover Art)

Institutional Class
is a class of Fidelity®
International Small Cap
Opportunities Fund

---

# Contents

|Shareholder Expense Example | (Click Here) | An example of shareholder expenses.                                                                          
|--------------------------- | ------------ | -------------------------------------------------------------------------------------------------------------
|Investment Changes          | (Click Here) | A summary of major shifts in the fund's investments over the past six months.                                
|Investments                 | (Click Here) | A complete list of the fund's investments with their market values.                                          
|Financial Statements        | (Click Here) | Statements of assets and liabilities, operations, and changes in net assets, as well as financial highlights.
|Notes                       | (Click Here) | Notes to the financial statements.                                                                           

To view a fund's proxy voting guidelines and proxy voting record for the 12-month period ended June 30, visit http://www.fidelity.com/proxyvotingresults or visit the Securities and Exchange Commission's (SEC) web site at http://www.sec.gov. You may also call 1-877-208-0098 to request a free copy of the proxy voting guidelines.

Standard & Poor's, S&P and S&P 500 are registered service marks of The McGraw-Hill Companies, Inc. and have been licensed for use by Fidelity Distributors Corporation.

Other third-party marks appearing herein are the property of their respective owners.

All other marks appearing herein are registered or unregistered trademarks or service marks of FMR LLC or an affiliated company. © 2015 FMR LLC. All rights reserved.

This report and the financial statements contained herein are submitted for the general information of the shareholders of the fund. This report is not authorized for distribution to prospective investors in the fund unless preceded or accompanied by an effective prospectus.

A fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-Q. Forms N-Q are available on the SEC's web site at http://www.sec.gov.A fund's Forms N-Q may be reviewed and copied at the SEC's Public Reference Room in Washington, DC. Information regarding the operation of the SEC's Public Reference Room may be obtained by calling 1-800-SEC-0330. For a complete list of a fund's portfolio holdings, view the most recent holdings listing, semiannual report, or annual report on Fidelity's web site at http://www.fidelity.com, http://www.advisor.fidelity.com, or http://www.401k.com, as applicable.

NOT FDIC INSURED • MAY LOSE VALUE • NO BANK GUARANTEE

Neither the fund nor Fidelity Distributors Corporation is a bank.

Semiannual Report

---

# Shareholder Expense Example

As a shareholder of the Fund, you incur two types of costs: (1) transaction costs, including sales charges (loads) on purchase payments or redemption proceeds, redemption fees and (2) ongoing costs, including management fees, distribution and/or service (12b-1) fees and other Fund expenses. This Example is intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds.

The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (November 1, 2014 to April 30, 2015).

Actual Expenses

The first line of the accompanying table for each class of the Fund provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000.00 (for example, an $8,600 account value divided by $1,000.00 = 8.6), then multiply the result by the number in the first line for a class of the Fund under the heading entitled "Expenses Paid During Period" to estimate the expenses you paid on your account during this period. A small balance maintenance fee of $12.00 that is charged once a year may apply for certain accounts with a value of less than $2,000. This fee is not included in the table below. If it was, the estimate of expenses you paid during the period would be higher, and your ending account value lower, by this amount. In addition, the Fund, as a shareholder in the underlying Fidelity Central Funds, will indirectly bear its pro-rata share of the fees and expenses incurred by the underlying Fidelity Central Funds. These fees and expenses are not included in the Fund's annualized expense ratio used to calculate the expense estimate in the table below.

Hypothetical Example for Comparison Purposes

The second line of the accompanying table for each class of the Fund provides information about hypothetical account values and hypothetical expenses based on a Class' actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Class' actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds. A small balance maintenance fee of $12.00 that is charged once a year may apply for certain accounts with a value of less than $2,000. This fee is not included in the table below. If it was, the estimate of expenses you paid during the period would be higher, and your ending account value lower, by this amount. In addition, the Fund, as a shareholder in the underlying Fidelity Central Funds, will indirectly bear its pro-rata share of the fees and expenses incurred by the underlying Fidelity Central Funds. These fees and expenses are not included in the Fund's annualized expense ratio used to calculate the expense estimate in the table below.

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transaction costs. Therefore, the second line of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.

Semiannual Report

Shareholder Expense Example - continued

|                                      | Annualized 
Expense RatioB | Beginning
Account Value
November 1, 2014 | Ending
Account Value
April 30, 2015 | Expenses Paid
During Period*November 1, 2014 to April 30, 2015
|------------------------------------- | -------------------------- | ---------------------------------------- | ----------------------------------- | --------------------------------------------------------------
|Class A                               | 1.57%                      |                                          |                                     |                                                               
|Actual                                |                            | $	1,000.00                               | $	1,102.40                          | $	8.18                                                        
|HypotheticalA                         |                            | $	1,000.00                               | $	1,017.01                          | $	7.85                                                        
|Class T                               | 1.83%                      |                                          |                                     |                                                               
|Actual                                |                            | $	1,000.00                               | $	1,100.50                          | $	9.53                                                        
|HypotheticalA                         |                            | $	1,000.00                               | $	1,015.72                          | $	9.15                                                        
|Class B                               | 2.33%                      |                                          |                                     |                                                               
|Actual                                |                            | $	1,000.00                               | $	1,097.70                          | $	12.12                                                       
|HypotheticalA                         |                            | $	1,000.00                               | $	1,013.24                          | $	11.63                                                       
|Class C                               | 2.32%                      |                                          |                                     |                                                               
|Actual                                |                            | $	1,000.00                               | $	1,097.50                          | $	12.07                                                       
|HypotheticalA                         |                            | $	1,000.00                               | $	1,013.29                          | $	11.58                                                       
|International Small Cap Opportunities | 1.26%                      |                                          |                                     |                                                               
|Actual                                |                            | $	1,000.00                               | $	1,103.10                          | $	6.57                                                        
|HypotheticalA                         |                            | $	1,000.00                               | $	1,018.55                          | $	6.31                                                        
|Institutional Class                   | 1.22%                      |                                          |                                     |                                                               
|Actual                                |                            | $	1,000.00                               | $	1,103.60                          | $	6.36                                                        
|HypotheticalA                         |                            | $	1,000.00                               | $	1,018.74                          | $	6.11                                                        

A5% return per year before expenses

BAnnualized expense ratio reflects expenses net of applicable fee waivers.

*Expenses are equal to each Class' annualized expense ratio, multiplied by the average account value over the period, multiplied by 181/365 (to reflect the one-half year period).

Semiannual Report

---

# Investment Changes (Unaudited)

|Geographic Diversification (% of fund's net assets)
|---------------------------------------------------
|As of April 30, 2015                               
|int1248                                            
|int1250                                            
|int1252                                            
|int1254                                            
|int1256                                            
|int1258                                            
|int1260                                            
|int1262                                            
|int1264                                            
|int1266                                            

int1268

|Percentages are based on country or territory of incorporation and are adjusted for the effect of futures contracts, if applicable.
|-----------------------------------------------------------------------------------------------------------------------------------
|*	Includes Short-Term Investments and Net Other Assets (Liabilities).                                                              

|As of October 31, 2014
|----------------------
|int1270               
|int1272               
|int1274               
|int1276               
|int1278               
|int1280               
|int1282               
|int1284               
|int1286               
|int1288               

int1290

|Percentages are based on country or territory of incorporation and are adjusted for the effect of futures contracts, if applicable.
|-----------------------------------------------------------------------------------------------------------------------------------
|*	Includes Short-Term Investments and Net Other Assets (Liabilities).                                                              

|Asset Allocation as of April 30, 2015                                  
|-----------------------------------------------------------------------
|                                                                       
|Stocks                                                                 
|Short-Term Investments and Net Other Assets (Liabilities)              
|Top Ten Stocks as of April 30, 2015                                    
|                                                                       
|USS Co. Ltd.  (Japan, Specialty Retail)                                
|Unite Group PLC  (United Kingdom, Real Estate Management & Development)
|Azimut Holding SpA  (Italy, Capital Markets)                           
|CTS Eventim AG  (Germany, Media)                                       
|Spirax-Sarco Engineering PLC  (United Kingdom, Machinery)              
|OSG Corp.  (Japan, Machinery)                                          
|Interpump Group SpA  (Italy, Machinery)                                
|SS&C Technologies Holdings, Inc.  (United States of America, Software) 
|Seven Bank Ltd.  (Japan, Banks)                                        
|Fagerhult AB  (Sweden, Electrical Equipment)                           
|                                                                       
|Market Sectors as of April 30, 2015                                    
|                                                                       
|Industrials                                                            
|Financials                                                             
|Consumer Discretionary                                                 
|Information Technology                                                 
|Consumer Staples                                                       
|Materials                                                              
|Health Care                                                            
|Energy                                                                 

Semiannual Report

---

# Investments April 30, 2015 (Unaudited)

Showing Percentage of Net Assets

|Common Stocks - 95.5%                                      
|-----------------------------------------------------------
|                                                           
|Australia - 1.8%                                           
|DuluxGroup Ltd.                                            
|Imdex Ltd. (a)                                             
|RCG Corp. Ltd.                                             
|Sydney Airport unit                                        
|TFS Corp. Ltd.                                             
|TOTAL AUSTRALIA                                            
|Austria - 1.4%                                             
|Andritz AG                                                 
|Zumtobel AG                                                
|TOTAL AUSTRIA                                              
|Belgium - 1.3%                                             
|Gimv NV                                                    
|KBC Ancora (a)                                             
|TOTAL BELGIUM                                              
|Bermuda - 1.1%                                             
|Lazard Ltd. Class A                                        
|Petra Diamonds Ltd. (a)                                    
|Vostok Nafta Investment Ltd. SDR (a)                       
|TOTAL BERMUDA                                              
|British Virgin Islands - 0.2%                              
|Gem Diamonds Ltd.                                          
|Canada - 1.5%                                              
|Cara Operations Ltd. (a)                                   
|McCoy Global, Inc.                                         
|New Look Eyewear, Inc.                                     
|Pason Systems, Inc.                                        
|ShawCor Ltd. Class A                                       
|TOTAL CANADA                                               
|Cayman Islands - 0.7%                                      
|58.com, Inc. ADR (a)(d)                                    
|Common Stocks - continued                                  
|                                                           
|Denmark - 1.7%                                             
|Jyske Bank A/S (Reg.) (a)                                  
|Spar Nord Bank A/S                                         
|TOTAL DENMARK                                              
|Finland - 0.4%                                             
|Tikkurila Oyj                                              
|France - 1.9%                                              
|Coface SA                                                  
|Laurent-Perrier Group SA                                   
|Vetoquinol SA                                              
|Virbac SA                                                  
|TOTAL FRANCE                                               
|Germany - 4.0%                                             
|alstria office REIT-AG                                     
|CompuGroup Medical AG                                      
|CTS Eventim AG (d)                                         
|Fielmann AG                                                
|TOTAL GERMANY                                              
|Greece - 0.4%                                              
|Titan Cement Co. SA (Reg.)                                 
|India - 0.4%                                               
|Jyothy Laboratories Ltd. (a)                               
|Ireland - 1.5%                                             
|FBD Holdings PLC                                           
|James Hardie Industries PLC:                               
|CDI                                                        
|sponsored ADR                                              
|TOTAL IRELAND                                              
|Israel - 1.7%                                              
|Azrieli Group                                              
|Ituran Location & Control Ltd.                             
|Sarine Technologies Ltd.                                   
|Strauss Group Ltd. (a)                                     
|TOTAL ISRAEL                                               
|Italy - 4.6%                                               
|Azimut Holding SpA                                         
|Banco di Desio e della Brianza SpA                         
|Common Stocks - continued                                  
|                                                           
|Italy - continued                                          
|Beni Stabili SpA SIIQ                                      
|Interpump Group SpA                                        
|TOTAL ITALY                                                
|Japan - 26.7%                                              
|Aozora Bank Ltd.                                           
|Artnature, Inc.                                            
|Asahi Co. Ltd.                                             
|Autobacs Seven Co. Ltd.                                    
|Azbil Corp.                                                
|Broadleaf Co. Ltd.                                         
|Coca-Cola Central Japan Co. Ltd.                           
|Cosmos Pharmaceutical Corp.                                
|Daiichikosho Co. Ltd.                                      
|Daikokutenbussan Co. Ltd.                                  
|GCA Savvian Group Corp.                                    
|Glory Ltd.                                                 
|Goldcrest Co. Ltd.                                         
|Harmonic Drive Systems, Inc.                               
|Iwatsuka Confectionary Co. Ltd.                            
|Japan Digital Laboratory Co.                               
|Kobayashi Pharmaceutical Co. Ltd.                          
|Koshidaka Holdings Co. Ltd.                                
|Lasertec Corp.                                             
|Medikit Co. Ltd.                                           
|Meiko Network Japan Co. Ltd.                               
|Miraial Co. Ltd.                                           
|Nabtesco Corp.                                             
|Nagaileben Co. Ltd.                                        
|ND Software Co. Ltd.                                       
|Nihon M&A Center, Inc.                                     
|Nihon Parkerizing Co. Ltd.                                 
|Nippon Seiki Co. Ltd.                                      
|NS Tool Co. Ltd.                                           
|OBIC Co. Ltd.                                              
|OSG Corp.                                                  
|Paramount Bed Holdings Co. Ltd.                            
|San-Ai Oil Co. Ltd.                                        
|Seven Bank Ltd.                                            
|SHO-BOND Holdings Co. Ltd.                                 
|Shoei Co. Ltd.                                             
|SK Kaken Co. Ltd.                                          
|Common Stocks - continued                                  
|                                                           
|Japan - continued                                          
|Software Service, Inc.                                     
|Techno Medica Co. Ltd.                                     
|TFP Consulting Group Co. Ltd.                              
|The Monogatari Corp.                                       
|The Nippon Synthetic Chemical Industry Co. Ltd.            
|TKC Corp.                                                  
|Tocalo Co. Ltd.                                            
|Tsutsumi Jewelry Co. Ltd.                                  
|USS Co. Ltd.                                               
|Workman Co. Ltd.                                           
|Yamato Kogyo Co. Ltd.                                      
|TOTAL JAPAN                                                
|Korea (South) - 2.8%                                       
|BGFretail Co. Ltd.                                         
|Coway Co. Ltd.                                             
|Leeno Industrial, Inc.                                     
|TOTAL KOREA (SOUTH)                                        
|Mexico - 0.6%                                              
|Consorcio ARA S.A.B. de CV (a)                             
|Netherlands - 3.3%                                         
|Aalberts Industries NV                                     
|ASM International NV (depositary receipt)                  
|Heijmans NV (Certificaten Van Aandelen)                    
|VastNed Retail NV                                          
|TOTAL NETHERLANDS                                          
|Norway - 0.3%                                              
|Kongsberg Gruppen ASA                                      
|Philippines - 0.5%                                         
|Jollibee Food Corp.                                        
|South Africa - 1.6%                                        
|Alexander Forbes Group Holding (a)                         
|Clicks Group Ltd.                                          
|Nampak Ltd.                                                
|TOTAL SOUTH AFRICA                                         
|Common Stocks - continued                                  
|                                                           
|Spain - 1.2%                                               
|Hispania Activos Inmobiliarios SA (a)                      
|Prosegur Compania de Seguridad SA (Reg.)                   
|TOTAL SPAIN                                                
|Sweden - 2.8%                                              
|Fagerhult AB                                               
|Intrum Justitia AB                                         
|TOTAL SWEDEN                                               
|Taiwan - 0.4%                                              
|Addcn Technology Co. Ltd.                                  
|Turkey - 0.9%                                              
|Albaraka Turk Katilim Bankasi A/S                          
|Coca-Cola Icecek Sanayi A/S                                
|TOTAL TURKEY                                               
|United Kingdom - 21.4%                                     
|AA PLC                                                     
|Babcock International Group PLC                            
|Bellway PLC                                                
|Berendsen PLC                                              
|Britvic PLC                                                
|Dechra Pharmaceuticals PLC                                 
|Derwent London PLC                                         
|Elementis PLC                                              
|Great Portland Estates PLC                                 
|H&T Group PLC                                              
|Hilton Food Group PLC                                      
|Howden Joinery Group PLC                                   
|Informa PLC                                                
|InterContinental Hotel Group PLC ADR                       
|ITE Group PLC                                              
|Johnson Matthey PLC                                        
|JUST EAT Ltd. (a)                                          
|Meggitt PLC                                                
|Rightmove PLC                                              
|Rotork PLC                                                 
|Shaftesbury PLC                                            
|Spectris PLC                                               
|Spirax-Sarco Engineering PLC                               
|Taylor Wimpey PLC                                          
|Ted Baker PLC                                              
|Common Stocks - continued                                  
|                                                           
|United Kingdom - continued                                 
|Ultra Electronics Holdings PLC                             
|Unite Group PLC                                            
|TOTAL UNITED KINGDOM                                       
|United States of America - 8.4%                            
|ANSYS, Inc. (a)                                            
|Autoliv, Inc.                                              
|Broadridge Financial Solutions, Inc.                       
|China Biologic Products, Inc. (a)                          
|Dril-Quip, Inc. (a)                                        
|Evercore Partners, Inc. Class A                            
|Kennedy-Wilson Holdings, Inc.                              
|Martin Marietta Materials, Inc.                            
|Mohawk Industries, Inc. (a)                                
|Oceaneering International, Inc.                            
|PriceSmart, Inc.                                           
|ResMed, Inc.                                               
|Solera Holdings, Inc.                                      
|SS&C Technologies Holdings, Inc.                           
|TOTAL UNITED STATES OF AMERICA                             
|TOTAL COMMON STOCKS
(Cost $529,613,258)                    
|Nonconvertible Preferred Stocks - 1.2%                     
|                                                           
|Germany - 1.2%                                             
|Sartorius AG (non-vtg.)
(Cost $6,020,447)                  
|Money Market Funds - 4.1%                                  
|                                                           
|Fidelity Cash Central Fund, 0.15% (b)                      
|Fidelity Securities Lending Cash Central Fund, 0.17% (b)(c)
|TOTAL MONEY MARKET FUNDS
(Cost $29,347,363)                
|TOTAL INVESTMENT PORTFOLIO - 100.8%
(Cost $564,981,068)    
|NET OTHER ASSETS (LIABILITIES) - (0.8)%                    
|NET ASSETS - 100%                                          

|Legend                                                                                                                                                                                                                                                                                                                                                                                                                                           
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|(a)	Non-income producing                                                                                                                                                                                                                                                                                                                                                                                                                         
|(b)	Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.
|(c)	Investment made with cash collateral received from securities on loan.                                                                                                                                                                                                                                                                                                                                                                       
|(d)	Security or a portion of the security is on loan at period end.                                                                                                                                                                                                                                                                                                                                                                              
|Affiliated Central Funds                                                                                                                                                                                                                                                                                                                                                                                                                         
|Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:                                                                                                                                                                                                                                                                                                                    

|Fund                                          | Income earned
|--------------------------------------------- | -------------
|Fidelity Cash Central Fund                    | $	11,801     
|Fidelity Securities Lending Cash Central Fund | 11,304       
|Total                                         | $	23,105     

|Other Information                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|Categorizations in the Schedule of Investments are based on country or territory of incorporation.                                                                                                                                                                                                                                                                                                                                                                                             
|The following is a summary of the inputs used, as of April 30, 2015, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the tables below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

|Valuation Inputs at Reporting Date:
|-----------------------------------
|Description                        
|Investments in Securities:         
|Equities:                          
|Consumer Discretionary             
|Consumer Staples                   
|Energy                             
|Financials                         
|Health Care                        
|Industrials                        
|Information Technology             
|Materials                          
|Money Market Funds                 
|Total Investments in Securities:   

|The following is a summary of transfers between Level 1 and Level 2 for the period ended April 30, 2015. Transfers are assumed to have occurred at the beginning of the period, and are primarily attributable to the valuation techniques used for foreign equity securities, as discussed in the accompanying Notes to Financial Statements:
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|Transfers          | Total        
|------------------ | -------------
|Level 1 to Level 2 | $	284,109,312
|Level 2 to Level 1 | $	24,803,389 

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

---

# Financial Statements

## Statement of Assets and Liabilities

|                                                                                                                                                     | April 30, 2015 (Unaudited)
|---------------------------------------------------------------------------------------------------------------------------------------------------- | --------------------------
|                                                                                                                                                     |                           
|Assets                                                                                                                                               |                           
|Investment in securities, at value (including securities loaned of $7,168,659) - See accompanying schedule:
Unaffiliated issuers (cost $535,633,705) | $	692,925,982             
|Fidelity Central Funds (cost $29,347,363)                                                                                                            | 29,347,363                
|Total Investments (cost $564,981,068)                                                                                                                |                           
|Cash                                                                                                                                                 |                           
|Receivable for investments sold                                                                                                                      |                           
|Receivable for fund shares sold                                                                                                                      |                           
|Dividends receivable                                                                                                                                 |                           
|Distributions receivable from Fidelity Central Funds                                                                                                 |                           
|Prepaid expenses                                                                                                                                     |                           
|Other receivables                                                                                                                                    |                           
|Total assets                                                                                                                                         |                           
|                                                                                                                                                     |                           
|Liabilities                                                                                                                                          |                           
|Payable for investments purchased                                                                                                                    | $	2,760,147               
|Payable for fund shares redeemed                                                                                                                     | 498,949                   
|Accrued management fee                                                                                                                               | 536,930                   
|Distribution and service plan fees payable                                                                                                           | 19,445                    
|Other affiliated payables                                                                                                                            | 158,612                   
|Other payables and accrued expenses                                                                                                                  | 61,685                    
|Collateral on securities loaned, at value                                                                                                            | 7,573,050                 
|Total liabilities                                                                                                                                    |                           
|                                                                                                                                                     |                           
|Net Assets                                                                                                                                           |                           
|Net Assets consist of:                                                                                                                               |                           
|Paid in capital                                                                                                                                      |                           
|Undistributed net investment income                                                                                                                  |                           
|Accumulated undistributed net realized gain (loss) on investments and foreign currency transactions                                                  |                           
|Net unrealized appreciation (depreciation) on investments and assets and liabilities in foreign currencies                                           |                           
|Net Assets                                                                                                                                           |                           

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

Financial Statements - continued

## Statement of Assets and Liabilities - continued

|                                                                                                                                         | April 30, 2015 (Unaudited)
|---------------------------------------------------------------------------------------------------------------------------------------- | --------------------------
|                                                                                                                                         |                           
|Calculation of Maximum Offering Price
Class A:
Net Asset Value and redemption price per share ($26,951,611 ÷ 1,800,939 shares)           |                           
|                                                                                                                                         |                           
|Maximum offering price per share (100/94.25 of $14.97)                                                                                   |                           
|Class T:
Net Asset Value and redemption price per share ($10,384,127 ÷ 699,021 shares)                                                   |                           
|                                                                                                                                         |                           
|Maximum offering price per share (100/96.50 of $14.86)                                                                                   |                           
|Class B:
Net Asset Value and offering price per share ($693,196 ÷ 47,434 shares)A                                                        |                           
|                                                                                                                                         |                           
|Class C:
Net Asset Value and offering price per share ($11,050,541 ÷ 761,041 shares)A                                                    |                           
|                                                                                                                                         |                           
|International Small Cap Opportunities:
Net Asset Value, offering price and redemption price per share ($583,522,169 ÷ 38,634,638 shares) |                           
|                                                                                                                                         |                           
|Institutional Class:
Net Asset Value, offering price and redemption price per share ($83,926,116 ÷ 5,558,259 shares)                     |                           

ARedemption price per share is equal to net asset value less any applicable contingent deferred sales charge.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Statement of Operations

|Six months ended April 30, 2015 (Unaudited)                                   
|------------------------------------------------------------------------------
|                                                                              
|Investment Income                                                             
|Dividends                                                                     
|Income from Fidelity Central Funds                                            
|Income before foreign taxes withheld                                          
|Less foreign taxes withheld                                                   
|Total income                                                                  
|                                                                              
|Expenses                                                                      
|Management fee
Basic fee                                                      
|Performance adjustment                                                        
|Transfer agent fees                                                           
|Distribution and service plan fees                                            
|Accounting and security lending fees                                          
|Custodian fees and expenses                                                   
|Independent trustees' compensation                                            
|Registration fees                                                             
|Audit                                                                         
|Legal                                                                         
|Miscellaneous                                                                 
|Total expenses before reductions                                              
|Expense reductions                                                            
|Net investment income (loss)                                                  
|Realized and Unrealized Gain (Loss)
Net realized gain (loss) on:              
|Investment securities:                                                        
|Unaffiliated issuers                                                          
|Foreign currency transactions                                                 
|Total net realized gain (loss)                                                
|Change in net unrealized appreciation (depreciation) on:
Investment securities
|Assets and liabilities in foreign currencies                                  
|Total change in net unrealized appreciation (depreciation)                    
|Net gain (loss)                                                               
|Netincrease (decrease) in net assets resulting from operations                

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

Financial Statements - continued

## Statement of Changes in Net Assets

|                                                                                                                                                | Six months ended April 30, 2015 (Unaudited) | Year ended 
October 31, 
2014
|----------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------------------- | -----------------------------
|Increase (Decrease) in Net Assets                                                                                                               |                                             |                              
|Operations                                                                                                                                      |                                             |                              
|Net investment income (loss)                                                                                                                    | $	1,591,233                                 | $	3,975,650                  
|Net realized gain (loss)                                                                                                                        | 20,675,917                                  | 27,466,423                   
|Change in net unrealized appreciation (depreciation)                                                                                            | 43,530,001                                  | (28,661,157)                 
|Netincrease (decrease) in net assets resulting
from operations                                                                                  | 65,797,151                                  | 2,780,916                    
|Distributions to shareholders from net investment income                                                                                        | (3,982,311)                                 | (3,580,601)                  
|Distributions to shareholders from net realized gain                                                                                            | (949,656)                                   | (3,233,620)                  
|Total distributions                                                                                                                             | (4,931,967)                                 | (6,814,221)                  
|Share transactions - net increase (decrease)                                                                                                    | (2,603,053)                                 | 97,201,705                   
|Redemption fees                                                                                                                                 | 54,477                                      | 84,800                       
|Total increase (decrease) in net assets                                                                                                         | 58,316,608                                  | 93,253,200                   
|                                                                                                                                                |                                             |                              
|Net Assets                                                                                                                                      |                                             |                              
|Beginning of period                                                                                                                             | 658,211,152                                 | 564,957,952                  
|End of period (including undistributed net investment income of $1,599,439 and undistributed net investment income of $3,990,517, respectively) | $	716,527,760                               | $	658,211,152                

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - Class A

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | Six months ended April 30, 2015 | Years ended October 31,
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------- | -----------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | (Unaudited)                     | 2014                   
|Selected Per-Share Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |                                 |                        
|Net asset value, beginning of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $	13.65                         | $	13.68                
|Income from Investment Operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |                                 |                        
|Net investment income (loss)E                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | .01                             | .05                    
|Net realized and unrealized gain (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | 1.38                            | .05                    
|Total from investment operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | 1.39                            | .10                    
|Distributions from net investment income                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | (.05)                           | (.06)                  
|Distributions from net realized gain                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | (.02)                           | (.08)                  
|Total distributions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | (.07)                           | (.13)L                 
|Redemption fees added to paid in capitalE,J                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | -                               | -                      
|Net asset value, end of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | $	14.97                         | $	13.65                
|Total ReturnB, C, D                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | 10.24%                          | .78%                   
|Ratios to Average Net AssetsF, I                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |                                 |                        
|Expenses before reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | 1.57%A                          | 1.63%                  
|Expenses net of fee waivers, if any                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | 1.57%A                          | 1.63%                  
|Expenses net of all reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | 1.57%A                          | 1.63%                  
|Net investment income (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | .21%A                           | .33%                   
|Supplemental Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |                                 |                        
|Net assets, end of period (000 omitted)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | $26,952                         | $	25,041               
|Portfolio turnover rateG                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | 17%A                            | 18%                    
|AAnnualizedBTotal returns for periods of less than one year are not annualized.CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.DTotal returns do not include the effect of the sales charges.ECalculated based on average shares outstanding during the period.FFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.GAmount does not include the portfolio activity of any underlying Fidelity Central Funds.HInvestment income per share reflects a large, non-recurring dividend which amounted to $.06 per share. Excluding this non-recurring dividend, the ratio of net investment income (loss) to average net assets would have been .80%.IExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.JAmount represents less than $.01 per share.KTotal distributions of $.08 per share is comprised of distributions from net investment income of $.077 and distributions from net realized gain of $.005 per share.LTotal distributions of $.13 per share is comprised of distributions from net investment income of $.055 and distributions from net realized gain of $.079 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - Class T

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | Six months ended April 30, 2015 | Years ended October 31,
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------- | -----------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | (Unaudited)                     | 2014                   
|Selected Per-Share Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |                                 |                        
|Net asset value, beginning of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | $	13.53                         | $	13.56                
|Income from Investment Operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                                 |                        
|Net investment income (loss)E                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | -J                              | .01                    
|Net realized and unrealized gain (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | 1.36                            | .06                    
|Total from investment operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | 1.36                            | .07                    
|Distributions from net investment income                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | (.01)                           | (.02)                  
|Distributions from net realized gain                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | (.02)                           | (.08)                  
|Total distributions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | (.03)                           | (.10)                  
|Redemption fees added to paid in capitalE,J                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | -                               | -                      
|Net asset value, end of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | $	14.86                         | $	13.53                
|Total ReturnB, C, D                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | 10.05%                          | .55%                   
|Ratios to Average Net AssetsF, I                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |                                 |                        
|Expenses before reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | 1.83%A                          | 1.89%                  
|Expenses net of fee waivers, if any                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | 1.83%A                          | 1.89%                  
|Expenses net of all reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | 1.83%A                          | 1.89%                  
|Net investment income (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | (.06)%A                         | .07%                   
|Supplemental Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                                 |                        
|Net assets, end of period (000 omitted)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | $	10,384                        | $	9,913                
|Portfolio turnover rateG                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | 17%A                            | 18%                    
|AAnnualizedBTotal returns for periods of less than one year are not annualized.CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.DTotal returns do not include the effect of the sales charges.ECalculated based on average shares outstanding during the period.FFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.GAmount does not include the portfolio activity of any underlying Fidelity Central Funds.HInvestment income per share reflects a large, non-recurring dividend which amounted to $.06 per share. Excluding this non-recurring dividend, the ratio of net investment income (loss) to average net assets would have been .54%.IExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.JAmount represents less than $.01 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - Class B

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | Six months ended April 30, 2015 | Years ended October 31,
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------- | -----------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | (Unaudited)                     | 2014                   
|Selected Per-Share Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |                                 |                        
|Net asset value, beginning of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $	13.31                         | $	13.31                
|Income from Investment Operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |                                 |                        
|Net investment income (loss)E                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | (.04)                           | (.06)                  
|Net realized and unrealized gain (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | 1.34                            | .06                    
|Total from investment operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | 1.30                            | -                      
|Distributions from net investment income                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | -                               | -                      
|Distributions from net realized gain                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | -                               | -                      
|Total distributions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | -                               | -                      
|Redemption fees added to paid in capitalE,J                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | -                               | -                      
|Net asset value, end of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | $	14.61                         | $	13.31                
|Total ReturnB, C, D                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | 9.77%                           | -%                     
|Ratios to Average Net AssetsF, I                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |                                 |                        
|Expenses before reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | 2.33%A                          | 2.38%                  
|Expenses net of fee waivers, if any                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | 2.33%A                          | 2.38%                  
|Expenses net of all reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | 2.32%A                          | 2.38%                  
|Net investment income (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | (.55)%A                         | (.43)%                 
|Supplemental Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |                                 |                        
|Net assets, end of period (000 omitted)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $	693                           | $	744                  
|Portfolio turnover rateG                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | 17%A                            | 18%                    
|AAnnualizedBTotal returns for periods of less than one year are not annualized.CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.DTotal returns do not include the effect of the contingent deferred sales charge.ECalculated based on average shares outstanding during the period.FFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.GAmount does not include the portfolio activity of any underlying Fidelity Central Funds.HInvestment income per share reflects a large, non-recurring dividend which amounted to $.06 per share. Excluding this non-recurring dividend, the ratio of net investment income (loss) to average net assets would have been .05%.IExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.JAmount represents less than $.01 per share.KTotal distributions of $.07 per share is comprised of distributions from net investment income of $.058 and distributions from net realized gain of $.015 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - Class C

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | Six months ended April 30, 2015 | Years ended October 31,
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------- | -----------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | (Unaudited)                     | 2014                   
|Selected Per-Share Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |                                 |                        
|Net asset value, beginning of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $	13.23                         | $	13.28                
|Income from Investment Operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |                                 |                        
|Net investment income (loss)E                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | (.04)                           | (.06)                  
|Net realized and unrealized gain (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | 1.33                            | .06                    
|Total from investment operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | 1.29                            | -                      
|Distributions from net investment income                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | -                               | -                      
|Distributions from net realized gain                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | -                               | (.05)                  
|Total distributions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | -                               | (.05)                  
|Redemption fees added to paid in capitalE,J                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | -                               | -                      
|Net asset value, end of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | $	14.52                         | $	13.23                
|Total ReturnB, C, D                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | 9.75%                           | .03%                   
|Ratios to Average Net AssetsF, I                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |                                 |                        
|Expenses before reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | 2.32%A                          | 2.38%                  
|Expenses net of fee waivers, if any                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | 2.32%A                          | 2.38%                  
|Expenses net of all reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | 2.32%A                          | 2.38%                  
|Net investment income (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | (.54)%A                         | (.42)%                 
|Supplemental Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |                                 |                        
|Net assets, end of period (000 omitted)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $11,051                         | $	8,438                
|Portfolio turnover rateG                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | 17%A                            | 18%                    
|AAnnualizedBTotal returns for periods of less than one year are not annualized.CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.DTotal returns do not include the effect of the contingent deferred sales charge.ECalculated based on average shares outstanding during the period.FFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.GAmount does not include the portfolio activity of any underlying Fidelity Central Funds.HInvestment income per share reflects a large, non-recurring dividend which amounted to $.06 per share. Excluding this non-recurring dividend, the ratio of net investment income (loss) to average net assets would have been .05%.IExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.JAmount represents less than $.01 per share.KTotal distributions of $.07 per share is comprised of distributions from net investment income of $.058 and distributions from net realized gain of $.015 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - International Small Cap Opportunities

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | Six months ended April 30, 2015 | Years ended October 31,
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ------------------------------- | -----------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | (Unaudited)                     | 2014                   
|Selected Per-Share Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                                 |                        
|Net asset value, beginning of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | $	13.80                         | $	13.82                
|Income from Investment Operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                                 |                        
|Net investment income (loss)D                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | .04                             | .09                    
|Net realized and unrealized gain (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | 1.37                            | .06                    
|Total from investment operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | 1.41                            | .15                    
|Distributions from net investment income                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | (.09)                           | (.09)                  
|Distributions from net realized gain                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | (.02)                           | (.08)                  
|Total distributions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | (.11)                           | (.17)                  
|Redemption fees added to paid in capitalD,I                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | -                               | -                      
|Net asset value, end of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | $	15.10                         | $	13.80                
|Total ReturnB, C                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | 10.31%                          | 1.11%                  
|Ratios to Average Net AssetsE, H                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |                                 |                        
|Expenses before reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | 1.26%A                          | 1.30%                  
|Expenses net of fee waivers, if any                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | 1.26%A                          | 1.30%                  
|Expenses net of all reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | 1.26%A                          | 1.30%                  
|Net investment income (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | .52%A                           | .65%                   
|Supplemental Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                                 |                        
|Net assets, end of period (000 omitted)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | $583,522                        | $	584,253              
|Portfolio turnover rateF                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | 17%A                            | 18%                    
|AAnnualizedBTotal returns for periods of less than one year are not annualized.CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.DCalculated based on average shares outstanding during the period.EFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.FAmount does not include the portfolio activity of any underlying Fidelity Central Funds.GInvestment income per share reflects a large, non-recurring dividend which amounted to $.07 per share. Excluding this non-recurring dividend, the ratio of net investment income (loss) to average net assets would have been 1.06%.HExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.IAmount represents less than $.01 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - Institutional Class

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | Six months ended April 30, 2015 | Years ended October 31,
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ------------------------------- | -----------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | (Unaudited)                     | 2014                   
|Selected Per-Share Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                                 |                        
|Net asset value, beginning of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | $	13.81                         | $	13.83                
|Income from Investment Operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                                 |                        
|Net investment income (loss)D                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | .04                             | .08                    
|Net realized and unrealized gain (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | 1.38                            | .07                    
|Total from investment operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | 1.42                            | .15                    
|Distributions from net investment income                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | (.11)                           | (.09)                  
|Distributions from net realized gain                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | (.02)                           | (.08)                  
|Total distributions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | (.13)                           | (.17)                  
|Redemption fees added to paid in capitalD,I                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | -                               | -                      
|Net asset value, end of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | $	15.10                         | $	13.81                
|Total ReturnB, C                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | 10.36%                          | 1.11%                  
|Ratios to Average Net AssetsE, H                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |                                 |                        
|Expenses before reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | 1.22%A                          | 1.36%                  
|Expenses net of fee waivers, if any                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | 1.22%A                          | 1.36%                  
|Expenses net of all reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | 1.22%A                          | 1.36%                  
|Net investment income (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | .55%A                           | .60%                   
|Supplemental Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                                 |                        
|Net assets, end of period (000 omitted)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | $83,926                         | $	29,822               
|Portfolio turnover rateF                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | 17%A                            | 18%                    
|AAnnualizedBTotal returns for periods of less than one year are not annualized.CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.DCalculated based on average shares outstanding during the period.EFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.FAmount does not include the portfolio activity of any underlying Fidelity Central Funds.GInvestment income per share reflects a large, non-recurring dividend which amounted to $.07 per share. Excluding this non-recurring dividend, the ratio of net investment income (loss) to average net assets would have been 1.11%.HExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.IAmount represents less than $.01 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

---

# Notes to Financial Statements

For the period ended April 30, 2015 (Unaudited)

1. Organization.

Fidelity® International Small Cap Opportunities Fund (the Fund) is a fund of Fidelity Investment Trust (the Trust) and is authorized to issue an unlimited number of shares. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Massachusetts business trust. The Fund offers Class A, Class T, Class C, International Small Cap Opportunities and Institutional Class shares, each of which, along with Class B shares, has equal rights as to assets and voting privileges. Class B shares are closed to new accounts and additional purchases, except for exchanges and reinvestments. Each class has exclusive voting rights with respect to matters that affect that class. Class B shares will automatically convert to Class A shares after a holding period of seven years from the initial date of purchase.

2. Investments in Fidelity Central Funds.

The Fund invests in Fidelity Central Funds, which are open-end investment companies generally available only to other investment companies and accounts managed by the investment adviser and its affiliates. The Fund's Schedule of Investments lists each of the Fidelity Central Funds held as of period end, if any, as an investment of the Fund, but does not include the underlying holdings of each Fidelity Central Fund. As an Investing Fund, the Fund indirectly bears its proportionate share of the expenses of the underlying Fidelity Central Funds.

The Money Market Central Funds seek preservation of capital and current income and are managed by Fidelity Investments Money Management, Inc. (FIMM), an affiliate of the investment adviser. Annualized expenses of the Money Market Central Funds as of their most recent shareholder report date are less than .01%.

A complete unaudited list of holdings for each Fidelity Central Fund is available upon request or at the Securities and Exchange Commission (the SEC) website at www.sec.gov. In addition, the financial statements of the Fidelity Central Funds are available on the SEC website or upon request.

3. Significant Accounting Policies.

The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP), which require management to make certain estimates and assumptions at the date of the financial statements. Actual results could differ from those estimates. Subsequent events, if any, through the date that the financial statements were issued have been evaluated in the preparation of the financial statements. The following summarizes the significant accounting policies of the Fund:

Semiannual Report

Notes to Financial Statements (Unaudited) - continued

3. Significant Accounting Policies - continued

Investment Valuation.Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. The Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fidelity Management & Research Company (FMR) Fair Value Committee (the Committee). In accordance with valuation policies and procedures approved by the Board, the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund's valuation policies and procedures and reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee.

The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels as shown below:

Level 1 - quoted prices in active markets for identical investments

Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, etc.)

Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available)

Valuation techniques used to value the Fund's investments by major category are as follows:

Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing vendor on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. Utilizing these techniques may result in transfers between Level 1 and Level 2.

Semiannual Report

3. Significant Accounting Policies - continued

Investment Valuation - continued

For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy.

Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy.

Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. The aggregate value of investments by input level, as of April 30, 2015, including information on transfers between Levels 1 and 2 is included at the end of the Fund's Schedule of Investments.

Foreign Currency.The Fund may use foreign currency contracts to facilitate transactions in foreign-denominated securities. Gains and losses from these transactions may arise from changes in the value of the foreign currency or if the counterparties do not perform under the contracts' terms.

Foreign-denominated assets, including investment securities, and liabilities are translated into U.S. dollars at the exchange rates at period end. Purchases and sales of investment securities, income and dividends received and expenses denominated in foreign currencies are translated into U.S. dollars at the exchange rate in effect on the transaction date.

The effects of exchange rate fluctuations on investments are included with the net realized and unrealized gain (loss) on investment securities. Other foreign currency transactions resulting in realized and unrealized gain (loss) are disclosed separately.

Investment Transactions and Income.For financial reporting purposes, the Fund's investment holdings and NAV include trades executed through the end of the last business day of the period. The NAV per share for processing shareholder transactions is calculated as of the close of business of the New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time and includes trades executed through the end of the prior business day. Gains and losses on securities sold are determined on the basis of identified cost. Dividend income is recorded on the ex-dividend date, except for certain dividends from foreign securities where the ex-dividend date may have passed, which are recorded as soon as the Fund is informed of the ex-dividend date. Non-cash dividends included in dividend income, if any, are recorded at the fair market value of the securities received. Income and capital gain distributions from Fidelity Central Funds, if any, are recorded on the ex-dividend date. Distributions received on securities that represent a return of

Semiannual Report

Notes to Financial Statements (Unaudited) - continued

3. Significant Accounting Policies - continued

Investment Transactions and Income - continued

capital or capital gain are recorded as a reduction of cost of investments and/or as a realized gain. Subsequent to ex-dividend date the Fund determines the components of these distributions, based upon receipt of tax filings or other correspondence relating to the underlying investment. Investment income is recorded net of foreign taxes withheld where recovery of such taxes is uncertain.

Class Allocations andExpenses. Investment income, realized and unrealized capital gains and losses, common expenses of the Fund, and certain fund-level expense reductions, if any, are allocated daily on a pro-rata basis to each class based on the relative net assets of each class to the total net assets of the Fund. Each class differs with respect to transfer agent and distribution and service plan fees incurred. Certain expense reductions may also differ by class. For the reporting period, the allocated portion of income and expenses to each class as a percent of its average net assets may vary due to the timing of recording these transactions in relation to fluctuating net assets of the classes. Expenses directly attributable to a fund are charged to that fund. Expenses attributable to more than one fund are allocated among the respective funds on the basis of relative net assets or other appropriate methods. Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.

Income Tax Information and Distributions to Shareholders. Each year, the Fund intends to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code, including distributing substantially all of its taxable income and realized gains. As a result, no provision for U.S. Federal income taxes is required. The Fund files a U.S. federal tax return, in addition to state and local tax returns as required. The Fund's federal income tax returns are subject to examination by the Internal Revenue Service (IRS) for a period of three fiscal years after they are filed. State and local tax returns may be subject to examination for an additional fiscal year depending on the jurisdiction. Foreign taxes are provided for based on the Fund's understanding of the tax rules and rates that exist in the foreign markets in which it invests.

Distributions are declared and recorded on the ex-dividend date. Income dividends and capital gain distributions are declared separately for each class. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP.

Capital accounts within the financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations. Capital accounts are not adjusted for temporary book-tax differences which will reverse in a subsequent period.

Semiannual Report

3. Significant Accounting Policies - continued

Income Tax Information and Distributions to Shareholders - continued

Book-tax differences are primarily due to foreign currency transactions, partnerships, passive foreign investment companies (PFIC), capital loss carryforwards and losses deferred due to wash sales.

The federal tax cost of investment securities and unrealized appreciation (depreciation) as of period end were as follows:

|Gross unrealized appreciation                            | $	177,137,274
|-------------------------------------------------------- | -------------
|Gross unrealized depreciation                            | (24,246,066) 
|Net unrealized appreciation (depreciation) on securities | $	152,891,208
|                                                         |              
|Tax cost                                                 | $	569,382,137

Capital loss carryforwards are only available to offset future capital gains of the Fund to the extent provided by regulations and may be limited. Under the Regulated Investment Company Modernization Act of 2010 (the Act), the Fund is permitted to carry forward capital losses incurred in taxable years beginning after December 22, 2010 for an unlimited period and such capital losses are required to be used prior to any losses that expire. The capital loss carryforward information presented below, including any applicable limitation, is estimated as of prior fiscal period end and is subject to adjustment.

|Fiscal year of expiration |                
|------------------------- | ---------------
|2017                      | $	(284,273,262)

Short-Term Trading (Redemption) Fees. Shares held by investors in the Fund less than 90 days may have been subject to a redemption fee equal to 2.00% of the NAV of shares redeemed. All redemption fees, which reduce the proceeds of the shareholder redemption, are retained by the Fund and accounted for as an addition to paid in capital.

New Accounting Pronouncement.In June 2014, the Financial Accounting Standards Board issued Accounting Standard Update No. 2014-11, Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures (the Update). The Update amends the accounting for certain repurchase agreements and expands disclosure requirements for reverse repurchase agreements, securities lending and other similar transactions. The disclosure requirements are effective for annual and interim reporting periods beginning after December 15, 2014. Management is currently evaluating the impact of the Update on the Fund's financial statements and related disclosures.

Semiannual Report

Notes to Financial Statements (Unaudited) - continued

4. Purchases and Sales of Investments.

Purchases and sales of securities, other than short-term securities, aggregated $54,722,372 and $65,319,886, respectively.

5. Fees and Other Transactions with Affiliates.

Management Fee. Fidelity Management & Research Company (the investment adviser) and its affiliates provide the Fund with investment management related services for which the Fund pays a monthly management fee. The management fee is the sum of an individual fund fee rate that is based on an annual rate of .60% of the Fund's average net assets and an annualized group fee rate that averaged .25% during the period. The group fee rate is based upon the average net assets of all the mutual funds advised by the investment adviser, including any mutual funds previously advised by the investment adviser that are currently advised by Fidelity SelectCo, LLC, an affiliate of the investment adviser. The group fee rate decreases as assets under management increase and increases as assets under management decrease. In addition, the management fee is subject to a performance adjustment (up to a maximum of ± .20% of the Fund's average net assets over a 36 month performance period). The upward or downward adjustment to the management fee is based on the relative investment performance of International Small Cap Opportunities as compared to its benchmark index, the MSCI EAFE Small Cap Index, over the same 36 month performance period. For the reporting period, the total annualized management fee rate, including the performance adjustment, was .93% of the Fund's average net assets. The performance adjustment included in the management fee rate may be higher or lower than the maximum performance adjustment rate due to the difference between the average net assets for the reporting and performance periods.

Distribution and Service Plan Fees. In accordance with Rule 12b-1 of the 1940 Act, the Fund has adopted separate Distribution and Service Plans for each class of shares, except for the Institutional Class. Certain classes pay Fidelity Distributors Corporation (FDC), an affiliate of the investment adviser, separate Distribution and Service Fees, each of which is based on an annual percentage of each class' average net assets. In addition, FDC may pay financial intermediaries for selling shares of the Fund and providing shareholder support services. For the period, the Distribution and Service Fee rates, total fees and amounts retained by FDC were as follows:

|        | Distribution
Fee | Service
Fee | Total Fees | Retained
by FDC
|------- | ---------------- | ----------- | ---------- | ---------------
|Class A | -%               | .25%        | $	30,922   | $	973          
|Class T | .25%             | .25%        | 24,256     | 265            
|Class B | .75%             | .25%        | 3,484      | 2,627          
|Class C | .75%             | .25%        | 43,280     | 5,695          
|        |                  |             | $	101,942  | $	9,560        

Semiannual Report

5. Fees and Other Transactions with Affiliates - continued

Sales Load. FDC may receive a front-end sales charge of up to 5.75% for selling Class A shares and 3.50% for selling Class T shares, some of which is paid to financial intermediaries for selling shares of the Fund. Depending on the holding period, FDC may receive contingent deferred sales charges levied on Class A, Class T, Class B, and Class C redemptions. The deferred sales charges range from 5.00% to 1.00% for Class B shares, 1.00% for Class C shares, 1.00% for certain purchases of Class A shares and .25% for certain purchases of Class T shares.

For the period, sales charge amounts retained by FDC were as follows:

|         | Retained
by FDC
|-------- | ---------------
|Class A  | $	7,312        
|Class T  | 1,244          
|Class B* | 43             
|Class C* | 2,160          
|         | $	10,759       

*	When Class B and Class C shares are initially sold, FDC pays commissions from its own resources to financial intermediaries through which the sales 	are made.

Transfer Agent Fees.Fidelity Investments Institutional Operations Company, Inc., (FIIOC), an affiliate of the investment adviser, is the transfer, dividend disbursing and shareholder servicing agent for each class of the Fund. FIIOC receives account fees and asset-based fees that vary according to the account size and type of account of the shareholders of the respective classes of the Fund. FIIOC pays for typesetting, printing and mailing of shareholder reports, except proxy statements.

For the period, transfer agent fees for each class were as follows:

|                                      | Amount    | % of
Class-Level Average
Net Assets*
|------------------------------------- | --------- | ------------------------------------
|Class A                               | $	35,457  | .29                                 
|Class T                               | 14,581    | .30                                 
|Class B                               | 1,024     | .29                                 
|Class C                               | 12,577    | .29                                 
|International Small Cap Opportunities | 634,263   | .23                                 
|Institutional Class                   | 57,526    | .19                                 
|                                      | $	755,428 |                                     

*Annualized

Semiannual Report

Notes to Financial Statements (Unaudited) - continued

5. Fees and Other Transactions with Affiliates - continued

Accounting and Security Lending Fees.Fidelity Service Company, Inc. (FSC), an affiliate of the investment adviser, maintains the Fund's accounting records. The accounting fee is based on the level of average net assets for each month. Under a separate contract, FSC administers the security lending program. The security lending fee is based on the number and duration of lending transactions.

Brokerage Commissions.The Fund placed a portion of its portfolio transactions with brokerage firms which are affiliates of the investment adviser. Brokerage commissions are included in net realized gain (loss) and change in net unrealized appreciation (depreciation) in the Statement of Operations. The commissions paid to these affiliated firms were $139 for the period.

6. Committed Line of Credit.

The Fund participates with other funds managed by the investment adviser or an affiliate in a $4.25 billion credit facility (the "line of credit") to be utilized for temporary or emergency purposes to fund shareholder redemptions or for other short-term liquidity purposes. The Fund has agreed to pay commitment fees on its pro-rata portion of the line of credit, which amounted to $510 and is reflected in Miscellaneous expenses on the Statement of Operations. During the period, the Fund did not borrow on this line of credit.

7. Security Lending.

The Fund lends portfolio securities through a lending agent from time to time in order to earn additional income. For equity securities, a lending agent is used and may loan securities to certain qualified borrowers, including Fidelity Capital Markets (FCM), a broker-dealer affiliated with the Fund. On the settlement date of the loan, the Fund receives collateral (in the form of U.S. Treasury obligations, letters of credit and/or cash) against the loaned securities and maintains collateral in an amount not less than 100% of the market value of the loaned securities during the period of the loan. The market value of the loaned securities is determined at the close of business of the Fund and any additional required collateral is delivered to the Fund on the next business day. If the borrower defaults on its obligation to return the securities loaned because of insolvency or other reasons, the Fund may apply collateral received from the borrower against the obligation. The Fund may experience delays and costs in recovering the securities loaned. Any cash collateral received is invested in the Fidelity Securities Lending Cash Central Fund. The value of loaned securities and cash collateral at period end are disclosed on the Fund's Statement of Assets and Liabilities. Security lending income represents the income earned on investing cash collateral, less rebates paid to borrowers

Semiannual Report

7. Security Lending - continued

and any lending agent fees associated with the loan, plus any premium payments received for lending certain types of securities. Security lending income is presented in the Statement of Operations as a component of income from Fidelity Central Funds. Total security lending income during the period amounted to $11,304, including $739 from securities loaned to FCM.

8. Expense Reductions.

Commissions paid to certain brokers with whom the investment adviser, or its affiliates, places trades on behalf of the Fund include an amount in addition to trade execution, which may be rebated back to the Fund to offset certain expenses. This amount totaled $11,530 for the period.

In addition, the investment adviser reimbursed a portion of the Fund's operating expenses, including certain International Small Cap Opportunities expenses during the period in the amount of $390.

9. Distributions to Shareholders.

Distributions to shareholders of each class were as follows:

|                                      | Six months ended 
April 30, 
2015 | Year ended 
October 31, 
2014
|------------------------------------- | --------------------------------- | -----------------------------
|From net investment income            |                                   |                              
|Class A                               | $	91,925                          | $	88,584                     
|Class T                               | 4,261                             | 17,038                       
|International Small Cap Opportunities | 3,599,410                         | 3,435,414                    
|Institutional Class                   | 286,715                           | 39,565                       
|Total                                 | $	3,982,311                       | $	3,580,601                  
|From net realized gain                |                                   |                              
|Class A                               | $	38,609                          | $	127,238                    
|Class T                               | 14,913                            | 56,084                       
|Class C                               | -                                 | 33,933                       
|International Small Cap Opportunities | 839,863                           | 2,982,391                    
|Institutional Class                   | 56,271                            | 33,974                       
|Total                                 | $	949,656                         | $	3,233,620                  

Semiannual Report

Notes to Financial Statements (Unaudited) - continued

10. Share Transactions.

Share transactions for each class were as follows and may contain automatic conversions between classes or exchanges between funds:

|                                      | Shares                           | Dollars                      
|------------------------------------- | -------------------------------- | -----------------------------
|                                      | Six months ended April 30, 
2015 | Year ended 
October 31, 
2014
|Class A                               |                                  |                              
|Shares sold                           | 296,540                          | 589,478                      
|Reinvestment of distributions         | 9,185                            | 14,226                       
|Shares redeemed                       | (339,024)                        | (381,134)                    
|Net increase (decrease)               | (33,299)                         | 222,570                      
|Class T                               |                                  |                              
|Shares sold                           | 56,447                           | 159,216                      
|Reinvestment of distributions         | 1,404                            | 5,309                        
|Shares redeemed                       | (91,744)                         | (142,062)                    
|Net increase (decrease)               | (33,893)                         | 22,463                       
|Class B                               |                                  |                              
|Shares sold                           | 5,597                            | 1,461                        
|Shares redeemed                       | (14,082)                         | (51,497)                     
|Net increase (decrease)               | (8,485)                          | (50,036)                     
|Class C                               |                                  |                              
|Shares sold                           | 207,711                          | 200,445                      
|Reinvestment of distributions         | -                                | 2,336                        
|Shares redeemed                       | (84,605)                         | (172,604)                    
|Net increase (decrease)               | 123,106                          | 30,177                       
|International Small Cap Opportunities |                                  |                              
|Shares sold                           | 3,587,994                        | 13,421,171                   
|Reinvestment of distributions         | 239,997                          | 360,554                      
|Shares redeemed                       | (7,541,433)                      | (8,930,544)                  
|Net increase (decrease)               | (3,713,442)                      | 4,851,181                    
|Institutional Class                   |                                  |                              
|Shares sold                           | 3,812,188                        | 2,469,158                    
|Reinvestment of distributions         | 23,468                           | 4,980                        
|Shares redeemed                       | (437,357)                        | (724,026)                    
|Net increase (decrease)               | 3,398,299                        | 1,750,112                    

Semiannual Report

11. Other.

The Fund's organizational documents provide former and current trustees and officers with a limited indemnification against liabilities arising in connection with the performance of their duties to the Fund. In the normal course of business, the Fund may also enter into contracts that provide general indemnifications. The Fund's maximum exposure under these arrangements is unknown as this would be dependent on future claims that may be made against the Fund. The risk of material loss from such claims is considered remote.

Semiannual Report

Investment Adviser

Fidelity Management & Research Company

Boston, MA

Investment Sub-Advisers

FMR Co., Inc.

FMR Investment Management
(U.K.) Limited

Fidelity Management & Research 
(Hong Kong) Limited

Fidelity Management & Research 
(Japan) Limited

FIL Investment Advisors

FIL Investments (Japan) Limited

FIL Investment Advisors (U.K.) Limited

General Distributor

Fidelity Distributors Corporation

Smithfield, RI

Transfer and Service Agents

Fidelity Investments Institutional
Operations Company, Inc.

Boston, MA

Fidelity Service Company, Inc.

Boston, MA

Custodian

The Northern Trust Company

Chicago, IL



(Fidelity Investment logo)(registered trademark)

`AILSI-USAN-0615
1.815084.109`

Fidelity®

International Small Cap Opportunities

Fund

Semiannual Report

April 30, 2015(Fidelity Cover Art)

---

# Contents

|Shareholder Expense Example | (Click Here) | An example of shareholder expenses.                                                                          
|--------------------------- | ------------ | -------------------------------------------------------------------------------------------------------------
|Investment Changes          | (Click Here) | A summary of major shifts in the fund's investments over the past six months.                                
|Investments                 | (Click Here) | A complete list of the fund's investments with their market values.                                          
|Financial Statements        | (Click Here) | Statements of assets and liabilities, operations, and changes in net assets, as well as financial highlights.
|Notes                       | (Click Here) | Notes to the financial statements.                                                                           

To view a fund's proxy voting guidelines and proxy voting record for the 12-month period ended June 30, visit http://www.fidelity.com/proxyvotingresults or visit the Securities and Exchange Commission's (SEC) web site at http://www.sec.gov. You may also call 1-800-544-8544 to request a free copy of the proxy voting guidelines.

Standard & Poor's, S&P and S&P 500 are registered service marks of The McGraw-Hill Companies, Inc. and have been licensed for use by Fidelity Distributors Corporation.

Other third-party marks appearing herein are the property of their respective owners.

All other marks appearing herein are registered or unregistered trademarks or service marks of FMR LLC or an affiliated company. © 2015 FMR LLC. All rights reserved.

This report and the financial statements contained herein are submitted for the general information of the shareholders of the fund. This report is not authorized for distribution to prospective investors in the fund unless preceded or accompanied by an effective prospectus.

A fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-Q. Forms N-Q are available on the SEC's web site at http://www.sec.gov.A fund's Forms N-Q may be reviewed and copied at the SEC's Public Reference Room in Washington, DC. Information regarding the operation of the SEC's Public Reference Room may be obtained by calling 1-800-SEC-0330. For a complete list of a fund's portfolio holdings, view the most recent holdings listing, semiannual report, or annual report on Fidelity's web site at http://www.fidelity.com, http://www.advisor.fidelity.com, or http://www.401k.com, as applicable.

NOT FDIC INSURED • MAY LOSE VALUE • NO BANK GUARANTEE

Neither the fund nor Fidelity Distributors Corporation is a bank.

Semiannual Report

---

# Shareholder Expense Example

As a shareholder of the Fund, you incur two types of costs: (1) transaction costs, including sales charges (loads) on purchase payments or redemption proceeds, redemption fees and (2) ongoing costs, including management fees, distribution and/or service (12b-1) fees and other Fund expenses. This Example is intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds.

The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (November 1, 2014 to April 30, 2015).

Actual Expenses

The first line of the accompanying table for each class of the Fund provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000.00 (for example, an $8,600 account value divided by $1,000.00 = 8.6), then multiply the result by the number in the first line for a class of the Fund under the heading entitled "Expenses Paid During Period" to estimate the expenses you paid on your account during this period. A small balance maintenance fee of $12.00 that is charged once a year may apply for certain accounts with a value of less than $2,000. This fee is not included in the table below. If it was, the estimate of expenses you paid during the period would be higher, and your ending account value lower, by this amount. In addition, the Fund, as a shareholder in the underlying Fidelity Central Funds, will indirectly bear its pro-rata share of the fees and expenses incurred by the underlying Fidelity Central Funds. These fees and expenses are not included in the Fund's annualized expense ratio used to calculate the expense estimate in the table below.

Hypothetical Example for Comparison Purposes

The second line of the accompanying table for each class of the Fund provides information about hypothetical account values and hypothetical expenses based on a Class' actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Class' actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds. A small balance maintenance fee of $12.00 that is charged once a year may apply for certain accounts with a value of less than $2,000. This fee is not included in the table below. If it was, the estimate of expenses you paid during the period would be higher, and your ending account value lower, by this amount. In addition, the Fund, as a shareholder in the underlying Fidelity Central Funds, will indirectly bear its pro-rata share of the fees and expenses incurred by the underlying Fidelity Central Funds. These fees and expenses are not included in the Fund's annualized expense ratio used to calculate the expense estimate in the table below.

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transaction costs. Therefore, the second line of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.

Semiannual Report

Shareholder Expense Example - continued

|                                      | Annualized 
Expense RatioB | Beginning
Account Value
November 1, 2014 | Ending
Account Value
April 30, 2015 | Expenses Paid
During Period*November 1, 2014 to April 30, 2015
|------------------------------------- | -------------------------- | ---------------------------------------- | ----------------------------------- | --------------------------------------------------------------
|Class A                               | 1.57%                      |                                          |                                     |                                                               
|Actual                                |                            | $	1,000.00                               | $	1,102.40                          | $	8.18                                                        
|HypotheticalA                         |                            | $	1,000.00                               | $	1,017.01                          | $	7.85                                                        
|Class T                               | 1.83%                      |                                          |                                     |                                                               
|Actual                                |                            | $	1,000.00                               | $	1,100.50                          | $	9.53                                                        
|HypotheticalA                         |                            | $	1,000.00                               | $	1,015.72                          | $	9.15                                                        
|Class B                               | 2.33%                      |                                          |                                     |                                                               
|Actual                                |                            | $	1,000.00                               | $	1,097.70                          | $	12.12                                                       
|HypotheticalA                         |                            | $	1,000.00                               | $	1,013.24                          | $	11.63                                                       
|Class C                               | 2.32%                      |                                          |                                     |                                                               
|Actual                                |                            | $	1,000.00                               | $	1,097.50                          | $	12.07                                                       
|HypotheticalA                         |                            | $	1,000.00                               | $	1,013.29                          | $	11.58                                                       
|International Small Cap Opportunities | 1.26%                      |                                          |                                     |                                                               
|Actual                                |                            | $	1,000.00                               | $	1,103.10                          | $	6.57                                                        
|HypotheticalA                         |                            | $	1,000.00                               | $	1,018.55                          | $	6.31                                                        
|Institutional Class                   | 1.22%                      |                                          |                                     |                                                               
|Actual                                |                            | $	1,000.00                               | $	1,103.60                          | $	6.36                                                        
|HypotheticalA                         |                            | $	1,000.00                               | $	1,018.74                          | $	6.11                                                        

A5% return per year before expenses

BAnnualized expense ratio reflects expenses net of applicable fee waivers.

*Expenses are equal to each Class' annualized expense ratio, multiplied by the average account value over the period, multiplied by 181/365 (to reflect the one-half year period).

Semiannual Report

---

# Investment Changes (Unaudited)

|Geographic Diversification (% of fund's net assets)
|---------------------------------------------------
|As of April 30, 2015                               
|int1297                                            
|int1299                                            
|int1301                                            
|int1303                                            
|int1305                                            
|int1307                                            
|int1309                                            
|int1311                                            
|int1313                                            
|int1315                                            

int1317

|Percentages are based on country or territory of incorporation and are adjusted for the effect of futures contracts, if applicable.
|-----------------------------------------------------------------------------------------------------------------------------------
|*	Includes Short-Term Investments and Net Other Assets (Liabilities).                                                              

|As of October 31, 2014
|----------------------
|int1319               
|int1321               
|int1323               
|int1325               
|int1327               
|int1329               
|int1331               
|int1333               
|int1335               
|int1337               

int1339

|Percentages are based on country or territory of incorporation and are adjusted for the effect of futures contracts, if applicable.
|-----------------------------------------------------------------------------------------------------------------------------------
|*	Includes Short-Term Investments and Net Other Assets (Liabilities).                                                              

|Asset Allocation as of April 30, 2015                                  
|-----------------------------------------------------------------------
|                                                                       
|Stocks                                                                 
|Short-Term Investments and Net Other Assets (Liabilities)              
|Top Ten Stocks as of April 30, 2015                                    
|                                                                       
|USS Co. Ltd.  (Japan, Specialty Retail)                                
|Unite Group PLC  (United Kingdom, Real Estate Management & Development)
|Azimut Holding SpA  (Italy, Capital Markets)                           
|CTS Eventim AG  (Germany, Media)                                       
|Spirax-Sarco Engineering PLC  (United Kingdom, Machinery)              
|OSG Corp.  (Japan, Machinery)                                          
|Interpump Group SpA  (Italy, Machinery)                                
|SS&C Technologies Holdings, Inc.  (United States of America, Software) 
|Seven Bank Ltd.  (Japan, Banks)                                        
|Fagerhult AB  (Sweden, Electrical Equipment)                           
|                                                                       
|Market Sectors as of April 30, 2015                                    
|                                                                       
|Industrials                                                            
|Financials                                                             
|Consumer Discretionary                                                 
|Information Technology                                                 
|Consumer Staples                                                       
|Materials                                                              
|Health Care                                                            
|Energy                                                                 

Semiannual Report

---

# Investments April 30, 2015 (Unaudited)

Showing Percentage of Net Assets

|Common Stocks - 95.5%                                      
|-----------------------------------------------------------
|                                                           
|Australia - 1.8%                                           
|DuluxGroup Ltd.                                            
|Imdex Ltd. (a)                                             
|RCG Corp. Ltd.                                             
|Sydney Airport unit                                        
|TFS Corp. Ltd.                                             
|TOTAL AUSTRALIA                                            
|Austria - 1.4%                                             
|Andritz AG                                                 
|Zumtobel AG                                                
|TOTAL AUSTRIA                                              
|Belgium - 1.3%                                             
|Gimv NV                                                    
|KBC Ancora (a)                                             
|TOTAL BELGIUM                                              
|Bermuda - 1.1%                                             
|Lazard Ltd. Class A                                        
|Petra Diamonds Ltd. (a)                                    
|Vostok Nafta Investment Ltd. SDR (a)                       
|TOTAL BERMUDA                                              
|British Virgin Islands - 0.2%                              
|Gem Diamonds Ltd.                                          
|Canada - 1.5%                                              
|Cara Operations Ltd. (a)                                   
|McCoy Global, Inc.                                         
|New Look Eyewear, Inc.                                     
|Pason Systems, Inc.                                        
|ShawCor Ltd. Class A                                       
|TOTAL CANADA                                               
|Cayman Islands - 0.7%                                      
|58.com, Inc. ADR (a)(d)                                    
|Common Stocks - continued                                  
|                                                           
|Denmark - 1.7%                                             
|Jyske Bank A/S (Reg.) (a)                                  
|Spar Nord Bank A/S                                         
|TOTAL DENMARK                                              
|Finland - 0.4%                                             
|Tikkurila Oyj                                              
|France - 1.9%                                              
|Coface SA                                                  
|Laurent-Perrier Group SA                                   
|Vetoquinol SA                                              
|Virbac SA                                                  
|TOTAL FRANCE                                               
|Germany - 4.0%                                             
|alstria office REIT-AG                                     
|CompuGroup Medical AG                                      
|CTS Eventim AG (d)                                         
|Fielmann AG                                                
|TOTAL GERMANY                                              
|Greece - 0.4%                                              
|Titan Cement Co. SA (Reg.)                                 
|India - 0.4%                                               
|Jyothy Laboratories Ltd. (a)                               
|Ireland - 1.5%                                             
|FBD Holdings PLC                                           
|James Hardie Industries PLC:                               
|CDI                                                        
|sponsored ADR                                              
|TOTAL IRELAND                                              
|Israel - 1.7%                                              
|Azrieli Group                                              
|Ituran Location & Control Ltd.                             
|Sarine Technologies Ltd.                                   
|Strauss Group Ltd. (a)                                     
|TOTAL ISRAEL                                               
|Italy - 4.6%                                               
|Azimut Holding SpA                                         
|Banco di Desio e della Brianza SpA                         
|Common Stocks - continued                                  
|                                                           
|Italy - continued                                          
|Beni Stabili SpA SIIQ                                      
|Interpump Group SpA                                        
|TOTAL ITALY                                                
|Japan - 26.7%                                              
|Aozora Bank Ltd.                                           
|Artnature, Inc.                                            
|Asahi Co. Ltd.                                             
|Autobacs Seven Co. Ltd.                                    
|Azbil Corp.                                                
|Broadleaf Co. Ltd.                                         
|Coca-Cola Central Japan Co. Ltd.                           
|Cosmos Pharmaceutical Corp.                                
|Daiichikosho Co. Ltd.                                      
|Daikokutenbussan Co. Ltd.                                  
|GCA Savvian Group Corp.                                    
|Glory Ltd.                                                 
|Goldcrest Co. Ltd.                                         
|Harmonic Drive Systems, Inc.                               
|Iwatsuka Confectionary Co. Ltd.                            
|Japan Digital Laboratory Co.                               
|Kobayashi Pharmaceutical Co. Ltd.                          
|Koshidaka Holdings Co. Ltd.                                
|Lasertec Corp.                                             
|Medikit Co. Ltd.                                           
|Meiko Network Japan Co. Ltd.                               
|Miraial Co. Ltd.                                           
|Nabtesco Corp.                                             
|Nagaileben Co. Ltd.                                        
|ND Software Co. Ltd.                                       
|Nihon M&A Center, Inc.                                     
|Nihon Parkerizing Co. Ltd.                                 
|Nippon Seiki Co. Ltd.                                      
|NS Tool Co. Ltd.                                           
|OBIC Co. Ltd.                                              
|OSG Corp.                                                  
|Paramount Bed Holdings Co. Ltd.                            
|San-Ai Oil Co. Ltd.                                        
|Seven Bank Ltd.                                            
|SHO-BOND Holdings Co. Ltd.                                 
|Shoei Co. Ltd.                                             
|SK Kaken Co. Ltd.                                          
|Common Stocks - continued                                  
|                                                           
|Japan - continued                                          
|Software Service, Inc.                                     
|Techno Medica Co. Ltd.                                     
|TFP Consulting Group Co. Ltd.                              
|The Monogatari Corp.                                       
|The Nippon Synthetic Chemical Industry Co. Ltd.            
|TKC Corp.                                                  
|Tocalo Co. Ltd.                                            
|Tsutsumi Jewelry Co. Ltd.                                  
|USS Co. Ltd.                                               
|Workman Co. Ltd.                                           
|Yamato Kogyo Co. Ltd.                                      
|TOTAL JAPAN                                                
|Korea (South) - 2.8%                                       
|BGFretail Co. Ltd.                                         
|Coway Co. Ltd.                                             
|Leeno Industrial, Inc.                                     
|TOTAL KOREA (SOUTH)                                        
|Mexico - 0.6%                                              
|Consorcio ARA S.A.B. de CV (a)                             
|Netherlands - 3.3%                                         
|Aalberts Industries NV                                     
|ASM International NV (depositary receipt)                  
|Heijmans NV (Certificaten Van Aandelen)                    
|VastNed Retail NV                                          
|TOTAL NETHERLANDS                                          
|Norway - 0.3%                                              
|Kongsberg Gruppen ASA                                      
|Philippines - 0.5%                                         
|Jollibee Food Corp.                                        
|South Africa - 1.6%                                        
|Alexander Forbes Group Holding (a)                         
|Clicks Group Ltd.                                          
|Nampak Ltd.                                                
|TOTAL SOUTH AFRICA                                         
|Common Stocks - continued                                  
|                                                           
|Spain - 1.2%                                               
|Hispania Activos Inmobiliarios SA (a)                      
|Prosegur Compania de Seguridad SA (Reg.)                   
|TOTAL SPAIN                                                
|Sweden - 2.8%                                              
|Fagerhult AB                                               
|Intrum Justitia AB                                         
|TOTAL SWEDEN                                               
|Taiwan - 0.4%                                              
|Addcn Technology Co. Ltd.                                  
|Turkey - 0.9%                                              
|Albaraka Turk Katilim Bankasi A/S                          
|Coca-Cola Icecek Sanayi A/S                                
|TOTAL TURKEY                                               
|United Kingdom - 21.4%                                     
|AA PLC                                                     
|Babcock International Group PLC                            
|Bellway PLC                                                
|Berendsen PLC                                              
|Britvic PLC                                                
|Dechra Pharmaceuticals PLC                                 
|Derwent London PLC                                         
|Elementis PLC                                              
|Great Portland Estates PLC                                 
|H&T Group PLC                                              
|Hilton Food Group PLC                                      
|Howden Joinery Group PLC                                   
|Informa PLC                                                
|InterContinental Hotel Group PLC ADR                       
|ITE Group PLC                                              
|Johnson Matthey PLC                                        
|JUST EAT Ltd. (a)                                          
|Meggitt PLC                                                
|Rightmove PLC                                              
|Rotork PLC                                                 
|Shaftesbury PLC                                            
|Spectris PLC                                               
|Spirax-Sarco Engineering PLC                               
|Taylor Wimpey PLC                                          
|Ted Baker PLC                                              
|Common Stocks - continued                                  
|                                                           
|United Kingdom - continued                                 
|Ultra Electronics Holdings PLC                             
|Unite Group PLC                                            
|TOTAL UNITED KINGDOM                                       
|United States of America - 8.4%                            
|ANSYS, Inc. (a)                                            
|Autoliv, Inc.                                              
|Broadridge Financial Solutions, Inc.                       
|China Biologic Products, Inc. (a)                          
|Dril-Quip, Inc. (a)                                        
|Evercore Partners, Inc. Class A                            
|Kennedy-Wilson Holdings, Inc.                              
|Martin Marietta Materials, Inc.                            
|Mohawk Industries, Inc. (a)                                
|Oceaneering International, Inc.                            
|PriceSmart, Inc.                                           
|ResMed, Inc.                                               
|Solera Holdings, Inc.                                      
|SS&C Technologies Holdings, Inc.                           
|TOTAL UNITED STATES OF AMERICA                             
|TOTAL COMMON STOCKS
(Cost $529,613,258)                    
|Nonconvertible Preferred Stocks - 1.2%                     
|                                                           
|Germany - 1.2%                                             
|Sartorius AG (non-vtg.)
(Cost $6,020,447)                  
|Money Market Funds - 4.1%                                  
|                                                           
|Fidelity Cash Central Fund, 0.15% (b)                      
|Fidelity Securities Lending Cash Central Fund, 0.17% (b)(c)
|TOTAL MONEY MARKET FUNDS
(Cost $29,347,363)                
|TOTAL INVESTMENT PORTFOLIO - 100.8%
(Cost $564,981,068)    
|NET OTHER ASSETS (LIABILITIES) - (0.8)%                    
|NET ASSETS - 100%                                          

|Legend                                                                                                                                                                                                                                                                                                                                                                                                                                           
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|(a)	Non-income producing                                                                                                                                                                                                                                                                                                                                                                                                                         
|(b)	Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.
|(c)	Investment made with cash collateral received from securities on loan.                                                                                                                                                                                                                                                                                                                                                                       
|(d)	Security or a portion of the security is on loan at period end.                                                                                                                                                                                                                                                                                                                                                                              
|Affiliated Central Funds                                                                                                                                                                                                                                                                                                                                                                                                                         
|Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:                                                                                                                                                                                                                                                                                                                    

|Fund                                          | Income earned
|--------------------------------------------- | -------------
|Fidelity Cash Central Fund                    | $	11,801     
|Fidelity Securities Lending Cash Central Fund | 11,304       
|Total                                         | $	23,105     

|Other Information                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|Categorizations in the Schedule of Investments are based on country or territory of incorporation.                                                                                                                                                                                                                                                                                                                                                                                             
|The following is a summary of the inputs used, as of April 30, 2015, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the tables below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

|Valuation Inputs at Reporting Date:
|-----------------------------------
|Description                        
|Investments in Securities:         
|Equities:                          
|Consumer Discretionary             
|Consumer Staples                   
|Energy                             
|Financials                         
|Health Care                        
|Industrials                        
|Information Technology             
|Materials                          
|Money Market Funds                 
|Total Investments in Securities:   

|The following is a summary of transfers between Level 1 and Level 2 for the period ended April 30, 2015. Transfers are assumed to have occurred at the beginning of the period, and are primarily attributable to the valuation techniques used for foreign equity securities, as discussed in the accompanying Notes to Financial Statements:
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|Transfers          | Total        
|------------------ | -------------
|Level 1 to Level 2 | $	284,109,312
|Level 2 to Level 1 | $	24,803,389 

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

---

# Financial Statements

## Statement of Assets and Liabilities

|                                                                                                                                                     | April 30, 2015 (Unaudited)
|---------------------------------------------------------------------------------------------------------------------------------------------------- | --------------------------
|                                                                                                                                                     |                           
|Assets                                                                                                                                               |                           
|Investment in securities, at value (including securities loaned of $7,168,659) - See accompanying schedule:
Unaffiliated issuers (cost $535,633,705) | $	692,925,982             
|Fidelity Central Funds (cost $29,347,363)                                                                                                            | 29,347,363                
|Total Investments (cost $564,981,068)                                                                                                                |                           
|Cash                                                                                                                                                 |                           
|Receivable for investments sold                                                                                                                      |                           
|Receivable for fund shares sold                                                                                                                      |                           
|Dividends receivable                                                                                                                                 |                           
|Distributions receivable from Fidelity Central Funds                                                                                                 |                           
|Prepaid expenses                                                                                                                                     |                           
|Other receivables                                                                                                                                    |                           
|Total assets                                                                                                                                         |                           
|                                                                                                                                                     |                           
|Liabilities                                                                                                                                          |                           
|Payable for investments purchased                                                                                                                    | $	2,760,147               
|Payable for fund shares redeemed                                                                                                                     | 498,949                   
|Accrued management fee                                                                                                                               | 536,930                   
|Distribution and service plan fees payable                                                                                                           | 19,445                    
|Other affiliated payables                                                                                                                            | 158,612                   
|Other payables and accrued expenses                                                                                                                  | 61,685                    
|Collateral on securities loaned, at value                                                                                                            | 7,573,050                 
|Total liabilities                                                                                                                                    |                           
|                                                                                                                                                     |                           
|Net Assets                                                                                                                                           |                           
|Net Assets consist of:                                                                                                                               |                           
|Paid in capital                                                                                                                                      |                           
|Undistributed net investment income                                                                                                                  |                           
|Accumulated undistributed net realized gain (loss) on investments and foreign currency transactions                                                  |                           
|Net unrealized appreciation (depreciation) on investments and assets and liabilities in foreign currencies                                           |                           
|Net Assets                                                                                                                                           |                           

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

Financial Statements - continued

## Statement of Assets and Liabilities - continued

|                                                                                                                                         | April 30, 2015 (Unaudited)
|---------------------------------------------------------------------------------------------------------------------------------------- | --------------------------
|                                                                                                                                         |                           
|Calculation of Maximum Offering Price
Class A:
Net Asset Value and redemption price per share ($26,951,611 ÷ 1,800,939 shares)           |                           
|                                                                                                                                         |                           
|Maximum offering price per share (100/94.25 of $14.97)                                                                                   |                           
|Class T:
Net Asset Value and redemption price per share ($10,384,127 ÷ 699,021 shares)                                                   |                           
|                                                                                                                                         |                           
|Maximum offering price per share (100/96.50 of $14.86)                                                                                   |                           
|Class B:
Net Asset Value and offering price per share ($693,196 ÷ 47,434 shares)A                                                        |                           
|                                                                                                                                         |                           
|Class C:
Net Asset Value and offering price per share ($11,050,541 ÷ 761,041 shares)A                                                    |                           
|                                                                                                                                         |                           
|International Small Cap Opportunities:
Net Asset Value, offering price and redemption price per share ($583,522,169 ÷ 38,634,638 shares) |                           
|                                                                                                                                         |                           
|Institutional Class:
Net Asset Value, offering price and redemption price per share ($83,926,116 ÷ 5,558,259 shares)                     |                           

ARedemption price per share is equal to net asset value less any applicable contingent deferred sales charge.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Statement of Operations

|Six months ended April 30, 2015 (Unaudited)                                   
|------------------------------------------------------------------------------
|                                                                              
|Investment Income                                                             
|Dividends                                                                     
|Income from Fidelity Central Funds                                            
|Income before foreign taxes withheld                                          
|Less foreign taxes withheld                                                   
|Total income                                                                  
|                                                                              
|Expenses                                                                      
|Management fee
Basic fee                                                      
|Performance adjustment                                                        
|Transfer agent fees                                                           
|Distribution and service plan fees                                            
|Accounting and security lending fees                                          
|Custodian fees and expenses                                                   
|Independent trustees' compensation                                            
|Registration fees                                                             
|Audit                                                                         
|Legal                                                                         
|Miscellaneous                                                                 
|Total expenses before reductions                                              
|Expense reductions                                                            
|Net investment income (loss)                                                  
|Realized and Unrealized Gain (Loss)
Net realized gain (loss) on:              
|Investment securities:                                                        
|Unaffiliated issuers                                                          
|Foreign currency transactions                                                 
|Total net realized gain (loss)                                                
|Change in net unrealized appreciation (depreciation) on:
Investment securities
|Assets and liabilities in foreign currencies                                  
|Total change in net unrealized appreciation (depreciation)                    
|Net gain (loss)                                                               
|Netincrease (decrease) in net assets resulting from operations                

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

Financial Statements - continued

## Statement of Changes in Net Assets

|                                                                                                                                                | Six months ended April 30, 2015 (Unaudited) | Year ended 
October 31, 
2014
|----------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------------------- | -----------------------------
|Increase (Decrease) in Net Assets                                                                                                               |                                             |                              
|Operations                                                                                                                                      |                                             |                              
|Net investment income (loss)                                                                                                                    | $	1,591,233                                 | $	3,975,650                  
|Net realized gain (loss)                                                                                                                        | 20,675,917                                  | 27,466,423                   
|Change in net unrealized appreciation (depreciation)                                                                                            | 43,530,001                                  | (28,661,157)                 
|Netincrease (decrease) in net assets resulting
from operations                                                                                  | 65,797,151                                  | 2,780,916                    
|Distributions to shareholders from net investment income                                                                                        | (3,982,311)                                 | (3,580,601)                  
|Distributions to shareholders from net realized gain                                                                                            | (949,656)                                   | (3,233,620)                  
|Total distributions                                                                                                                             | (4,931,967)                                 | (6,814,221)                  
|Share transactions - net increase (decrease)                                                                                                    | (2,603,053)                                 | 97,201,705                   
|Redemption fees                                                                                                                                 | 54,477                                      | 84,800                       
|Total increase (decrease) in net assets                                                                                                         | 58,316,608                                  | 93,253,200                   
|                                                                                                                                                |                                             |                              
|Net Assets                                                                                                                                      |                                             |                              
|Beginning of period                                                                                                                             | 658,211,152                                 | 564,957,952                  
|End of period (including undistributed net investment income of $1,599,439 and undistributed net investment income of $3,990,517, respectively) | $	716,527,760                               | $	658,211,152                

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - Class A

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | Six months ended April 30, 2015 | Years ended October 31,
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------- | -----------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | (Unaudited)                     | 2014                   
|Selected Per-Share Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |                                 |                        
|Net asset value, beginning of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | $	13.65                         | $	13.68                
|Income from Investment Operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |                                 |                        
|Net investment income (loss)E                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | .01                             | .05                    
|Net realized and unrealized gain (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | 1.38                            | .05                    
|Total from investment operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | 1.39                            | .10                    
|Distributions from net investment income                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | (.05)                           | (.06)                  
|Distributions from net realized gain                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | (.02)                           | (.08)                  
|Total distributions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | (.07)                           | (.13)L                 
|Redemption fees added to paid in capitalE,J                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | -                               | -                      
|Net asset value, end of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | $	14.97                         | $	13.65                
|Total ReturnB, C, D                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | 10.24%                          | .78%                   
|Ratios to Average Net AssetsF, I                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |                                 |                        
|Expenses before reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | 1.57%A                          | 1.63%                  
|Expenses net of fee waivers, if any                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | 1.57%A                          | 1.63%                  
|Expenses net of all reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | 1.57%A                          | 1.63%                  
|Net investment income (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | .21%A                           | .33%                   
|Supplemental Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |                                 |                        
|Net assets, end of period (000 omitted)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | $26,952                         | $	25,041               
|Portfolio turnover rateG                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | 17%A                            | 18%                    
|AAnnualizedBTotal returns for periods of less than one year are not annualized.CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.DTotal returns do not include the effect of the sales charges.ECalculated based on average shares outstanding during the period.FFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.GAmount does not include the portfolio activity of any underlying Fidelity Central Funds.HInvestment income per share reflects a large, non-recurring dividend which amounted to $.06 per share. Excluding this non-recurring dividend, the ratio of net investment income (loss) to average net assets would have been .80%.IExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.JAmount represents less than $.01 per share.KTotal distributions of $.08 per share is comprised of distributions from net investment income of $.077 and distributions from net realized gain of $.005 per share.LTotal distributions of $.13 per share is comprised of distributions from net investment income of $.055 and distributions from net realized gain of $.079 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - Class T

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | Six months ended April 30, 2015 | Years ended October 31,
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------- | -----------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | (Unaudited)                     | 2014                   
|Selected Per-Share Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |                                 |                        
|Net asset value, beginning of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | $	13.53                         | $	13.56                
|Income from Investment Operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                                 |                        
|Net investment income (loss)E                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | -J                              | .01                    
|Net realized and unrealized gain (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | 1.36                            | .06                    
|Total from investment operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | 1.36                            | .07                    
|Distributions from net investment income                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | (.01)                           | (.02)                  
|Distributions from net realized gain                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | (.02)                           | (.08)                  
|Total distributions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | (.03)                           | (.10)                  
|Redemption fees added to paid in capitalE,J                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | -                               | -                      
|Net asset value, end of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | $	14.86                         | $	13.53                
|Total ReturnB, C, D                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | 10.05%                          | .55%                   
|Ratios to Average Net AssetsF, I                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |                                 |                        
|Expenses before reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | 1.83%A                          | 1.89%                  
|Expenses net of fee waivers, if any                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | 1.83%A                          | 1.89%                  
|Expenses net of all reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | 1.83%A                          | 1.89%                  
|Net investment income (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | (.06)%A                         | .07%                   
|Supplemental Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                                 |                        
|Net assets, end of period (000 omitted)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | $	10,384                        | $	9,913                
|Portfolio turnover rateG                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | 17%A                            | 18%                    
|AAnnualizedBTotal returns for periods of less than one year are not annualized.CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.DTotal returns do not include the effect of the sales charges.ECalculated based on average shares outstanding during the period.FFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.GAmount does not include the portfolio activity of any underlying Fidelity Central Funds.HInvestment income per share reflects a large, non-recurring dividend which amounted to $.06 per share. Excluding this non-recurring dividend, the ratio of net investment income (loss) to average net assets would have been .54%.IExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.JAmount represents less than $.01 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - Class B

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | Six months ended April 30, 2015 | Years ended October 31,
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------- | -----------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | (Unaudited)                     | 2014                   
|Selected Per-Share Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |                                 |                        
|Net asset value, beginning of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $	13.31                         | $	13.31                
|Income from Investment Operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |                                 |                        
|Net investment income (loss)E                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | (.04)                           | (.06)                  
|Net realized and unrealized gain (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | 1.34                            | .06                    
|Total from investment operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | 1.30                            | -                      
|Distributions from net investment income                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | -                               | -                      
|Distributions from net realized gain                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | -                               | -                      
|Total distributions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | -                               | -                      
|Redemption fees added to paid in capitalE,J                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | -                               | -                      
|Net asset value, end of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | $	14.61                         | $	13.31                
|Total ReturnB, C, D                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | 9.77%                           | -%                     
|Ratios to Average Net AssetsF, I                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |                                 |                        
|Expenses before reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | 2.33%A                          | 2.38%                  
|Expenses net of fee waivers, if any                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | 2.33%A                          | 2.38%                  
|Expenses net of all reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | 2.32%A                          | 2.38%                  
|Net investment income (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | (.55)%A                         | (.43)%                 
|Supplemental Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |                                 |                        
|Net assets, end of period (000 omitted)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $	693                           | $	744                  
|Portfolio turnover rateG                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | 17%A                            | 18%                    
|AAnnualizedBTotal returns for periods of less than one year are not annualized.CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.DTotal returns do not include the effect of the contingent deferred sales charge.ECalculated based on average shares outstanding during the period.FFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.GAmount does not include the portfolio activity of any underlying Fidelity Central Funds.HInvestment income per share reflects a large, non-recurring dividend which amounted to $.06 per share. Excluding this non-recurring dividend, the ratio of net investment income (loss) to average net assets would have been .05%.IExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.JAmount represents less than $.01 per share.KTotal distributions of $.07 per share is comprised of distributions from net investment income of $.058 and distributions from net realized gain of $.015 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - Class C

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | Six months ended April 30, 2015 | Years ended October 31,
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------- | -----------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | (Unaudited)                     | 2014                   
|Selected Per-Share Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |                                 |                        
|Net asset value, beginning of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | $	13.23                         | $	13.28                
|Income from Investment Operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |                                 |                        
|Net investment income (loss)E                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | (.04)                           | (.06)                  
|Net realized and unrealized gain (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | 1.33                            | .06                    
|Total from investment operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | 1.29                            | -                      
|Distributions from net investment income                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | -                               | -                      
|Distributions from net realized gain                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | -                               | (.05)                  
|Total distributions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | -                               | (.05)                  
|Redemption fees added to paid in capitalE,J                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | -                               | -                      
|Net asset value, end of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | $	14.52                         | $	13.23                
|Total ReturnB, C, D                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | 9.75%                           | .03%                   
|Ratios to Average Net AssetsF, I                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |                                 |                        
|Expenses before reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | 2.32%A                          | 2.38%                  
|Expenses net of fee waivers, if any                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | 2.32%A                          | 2.38%                  
|Expenses net of all reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | 2.32%A                          | 2.38%                  
|Net investment income (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | (.54)%A                         | (.42)%                 
|Supplemental Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |                                 |                        
|Net assets, end of period (000 omitted)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | $11,051                         | $	8,438                
|Portfolio turnover rateG                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | 17%A                            | 18%                    
|AAnnualizedBTotal returns for periods of less than one year are not annualized.CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.DTotal returns do not include the effect of the contingent deferred sales charge.ECalculated based on average shares outstanding during the period.FFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.GAmount does not include the portfolio activity of any underlying Fidelity Central Funds.HInvestment income per share reflects a large, non-recurring dividend which amounted to $.06 per share. Excluding this non-recurring dividend, the ratio of net investment income (loss) to average net assets would have been .05%.IExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.JAmount represents less than $.01 per share.KTotal distributions of $.07 per share is comprised of distributions from net investment income of $.058 and distributions from net realized gain of $.015 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - International Small Cap Opportunities

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | Six months ended April 30, 2015 | Years ended October 31,
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ------------------------------- | -----------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | (Unaudited)                     | 2014                   
|Selected Per-Share Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                                 |                        
|Net asset value, beginning of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | $	13.80                         | $	13.82                
|Income from Investment Operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                                 |                        
|Net investment income (loss)D                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | .04                             | .09                    
|Net realized and unrealized gain (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | 1.37                            | .06                    
|Total from investment operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | 1.41                            | .15                    
|Distributions from net investment income                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | (.09)                           | (.09)                  
|Distributions from net realized gain                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | (.02)                           | (.08)                  
|Total distributions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | (.11)                           | (.17)                  
|Redemption fees added to paid in capitalD,I                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | -                               | -                      
|Net asset value, end of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | $	15.10                         | $	13.80                
|Total ReturnB, C                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | 10.31%                          | 1.11%                  
|Ratios to Average Net AssetsE, H                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |                                 |                        
|Expenses before reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | 1.26%A                          | 1.30%                  
|Expenses net of fee waivers, if any                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | 1.26%A                          | 1.30%                  
|Expenses net of all reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | 1.26%A                          | 1.30%                  
|Net investment income (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | .52%A                           | .65%                   
|Supplemental Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                                 |                        
|Net assets, end of period (000 omitted)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | $583,522                        | $	584,253              
|Portfolio turnover rateF                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | 17%A                            | 18%                    
|AAnnualizedBTotal returns for periods of less than one year are not annualized.CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.DCalculated based on average shares outstanding during the period.EFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.FAmount does not include the portfolio activity of any underlying Fidelity Central Funds.GInvestment income per share reflects a large, non-recurring dividend which amounted to $.07 per share. Excluding this non-recurring dividend, the ratio of net investment income (loss) to average net assets would have been 1.06%.HExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.IAmount represents less than $.01 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

## Financial Highlights - Institutional Class

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | Six months ended April 30, 2015 | Years ended October 31,
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ------------------------------- | -----------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | (Unaudited)                     | 2014                   
|Selected Per-Share Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                                 |                        
|Net asset value, beginning of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | $	13.81                         | $	13.83                
|Income from Investment Operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                                 |                        
|Net investment income (loss)D                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | .04                             | .08                    
|Net realized and unrealized gain (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | 1.38                            | .07                    
|Total from investment operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | 1.42                            | .15                    
|Distributions from net investment income                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | (.11)                           | (.09)                  
|Distributions from net realized gain                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | (.02)                           | (.08)                  
|Total distributions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | (.13)                           | (.17)                  
|Redemption fees added to paid in capitalD,I                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | -                               | -                      
|Net asset value, end of period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | $	15.10                         | $	13.81                
|Total ReturnB, C                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | 10.36%                          | 1.11%                  
|Ratios to Average Net AssetsE, H                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |                                 |                        
|Expenses before reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | 1.22%A                          | 1.36%                  
|Expenses net of fee waivers, if any                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | 1.22%A                          | 1.36%                  
|Expenses net of all reductions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | 1.22%A                          | 1.36%                  
|Net investment income (loss)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | .55%A                           | .60%                   
|Supplemental Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                                 |                        
|Net assets, end of period (000 omitted)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | $83,926                         | $	29,822               
|Portfolio turnover rateF                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | 17%A                            | 18%                    
|AAnnualizedBTotal returns for periods of less than one year are not annualized.CTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.DCalculated based on average shares outstanding during the period.EFees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.FAmount does not include the portfolio activity of any underlying Fidelity Central Funds.GInvestment income per share reflects a large, non-recurring dividend which amounted to $.07 per share. Excluding this non-recurring dividend, the ratio of net investment income (loss) to average net assets would have been 1.11%.HExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from brokerage service arrangements or reductions from other expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class.IAmount represents less than $.01 per share.

See accompanying notes which are an integral part of the financial statements.

Semiannual Report

---

# Notes to Financial Statements

For the period ended April 30, 2015 (Unaudited)

1. Organization.

Fidelity® International Small Cap Opportunities Fund (the Fund) is a fund of Fidelity Investment Trust (the Trust) and is authorized to issue an unlimited number of shares. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Massachusetts business trust. The Fund offers Class A, Class T, Class C, International Small Cap Opportunities and Institutional Class shares, each of which, along with Class B shares, has equal rights as to assets and voting privileges. Class B shares are closed to new accounts and additional purchases, except for exchanges and reinvestments. Each class has exclusive voting rights with respect to matters that affect that class. Class B shares will automatically convert to Class A shares after a holding period of seven years from the initial date of purchase.

2. Investments in Fidelity Central Funds.

The Fund invests in Fidelity Central Funds, which are open-end investment companies generally available only to other investment companies and accounts managed by the investment adviser and its affiliates. The Fund's Schedule of Investments lists each of the Fidelity Central Funds held as of period end, if any, as an investment of the Fund, but does not include the underlying holdings of each Fidelity Central Fund. As an Investing Fund, the Fund indirectly bears its proportionate share of the expenses of the underlying Fidelity Central Funds.

The Money Market Central Funds seek preservation of capital and current income and are managed by Fidelity Investments Money Management, Inc. (FIMM), an affiliate of the investment adviser. Annualized expenses of the Money Market Central Funds as of their most recent shareholder report date are less than .01%.

A complete unaudited list of holdings for each Fidelity Central Fund is available upon request or at the Securities and Exchange Commission (the SEC) website at www.sec.gov. In addition, the financial statements of the Fidelity Central Funds are available on the SEC website or upon request.

3. Significant Accounting Policies.

The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP), which require management to make certain estimates and assumptions at the date of the financial statements. Actual results could differ from those estimates. Subsequent events, if any, through the date that the financial statements were issued have been evaluated in the preparation of the financial statements. The following summarizes the significant accounting policies of the Fund:

Semiannual Report

Notes to Financial Statements (Unaudited) - continued

3. Significant Accounting Policies - continued

Investment Valuation.Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. The Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fidelity Management & Research Company (FMR) Fair Value Committee (the Committee). In accordance with valuation policies and procedures approved by the Board, the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund's valuation policies and procedures and reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee.

The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels as shown below:

Level 1 - quoted prices in active markets for identical investments

Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, etc.)

Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available)

Valuation techniques used to value the Fund's investments by major category are as follows:

Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing vendor on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. Utilizing these techniques may result in transfers between Level 1 and Level 2.

Semiannual Report

3. Significant Accounting Policies - continued

Investment Valuation - continued

For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy.

Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy.

Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. The aggregate value of investments by input level, as of April 30, 2015, including information on transfers between Levels 1 and 2 is included at the end of the Fund's Schedule of Investments.

Foreign Currency.The Fund may use foreign currency contracts to facilitate transactions in foreign-denominated securities. Gains and losses from these transactions may arise from changes in the value of the foreign currency or if the counterparties do not perform under the contracts' terms.

Foreign-denominated assets, including investment securities, and liabilities are translated into U.S. dollars at the exchange rates at period end. Purchases and sales of investment securities, income and dividends received and expenses denominated in foreign currencies are translated into U.S. dollars at the exchange rate in effect on the transaction date.

The effects of exchange rate fluctuations on investments are included with the net realized and unrealized gain (loss) on investment securities. Other foreign currency transactions resulting in realized and unrealized gain (loss) are disclosed separately.

Investment Transactions and Income.For financial reporting purposes, the Fund's investment holdings and NAV include trades executed through the end of the last business day of the period. The NAV per share for processing shareholder transactions is calculated as of the close of business of the New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time and includes trades executed through the end of the prior business day. Gains and losses on securities sold are determined on the basis of identified cost. Dividend income is recorded on the ex-dividend date, except for certain dividends from foreign securities where the ex-dividend date may have passed, which are recorded as soon as the Fund is informed of the ex-dividend date. Non-cash dividends included in dividend income, if any, are recorded at the fair market value of the securities received. Income and capital gain distributions from Fidelity Central Funds, if any, are recorded on the ex-dividend date. Distributions received on securities that represent a return of

Semiannual Report

Notes to Financial Statements (Unaudited) - continued

3. Significant Accounting Policies - continued

Investment Transactions and Income - continued

capital or capital gain are recorded as a reduction of cost of investments and/or as a realized gain. Subsequent to ex-dividend date the Fund determines the components of these distributions, based upon receipt of tax filings or other correspondence relating to the underlying investment. Investment income is recorded net of foreign taxes withheld where recovery of such taxes is uncertain.

Class Allocations andExpenses. Investment income, realized and unrealized capital gains and losses, common expenses of the Fund, and certain fund-level expense reductions, if any, are allocated daily on a pro-rata basis to each class based on the relative net assets of each class to the total net assets of the Fund. Each class differs with respect to transfer agent and distribution and service plan fees incurred. Certain expense reductions may also differ by class. For the reporting period, the allocated portion of income and expenses to each class as a percent of its average net assets may vary due to the timing of recording these transactions in relation to fluctuating net assets of the classes. Expenses directly attributable to a fund are charged to that fund. Expenses attributable to more than one fund are allocated among the respective funds on the basis of relative net assets or other appropriate methods. Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.

Income Tax Information and Distributions to Shareholders. Each year, the Fund intends to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code, including distributing substantially all of its taxable income and realized gains. As a result, no provision for U.S. Federal income taxes is required. The Fund files a U.S. federal tax return, in addition to state and local tax returns as required. The Fund's federal income tax returns are subject to examination by the Internal Revenue Service (IRS) for a period of three fiscal years after they are filed. State and local tax returns may be subject to examination for an additional fiscal year depending on the jurisdiction. Foreign taxes are provided for based on the Fund's understanding of the tax rules and rates that exist in the foreign markets in which it invests.

Distributions are declared and recorded on the ex-dividend date. Income dividends and capital gain distributions are declared separately for each class. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP.

Capital accounts within the financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations. Capital accounts are not adjusted for temporary book-tax differences which will reverse in a subsequent period.

Semiannual Report

3. Significant Accounting Policies - continued

Income Tax Information and Distributions to Shareholders - continued

Book-tax differences are primarily due to foreign currency transactions, partnerships, passive foreign investment companies (PFIC), capital loss carryforwards and losses deferred due to wash sales.

The federal tax cost of investment securities and unrealized appreciation (depreciation) as of period end were as follows:

|Gross unrealized appreciation                            | $	177,137,274
|-------------------------------------------------------- | -------------
|Gross unrealized depreciation                            | (24,246,066) 
|Net unrealized appreciation (depreciation) on securities | $	152,891,208
|                                                         |              
|Tax cost                                                 | $	569,382,137

Capital loss carryforwards are only available to offset future capital gains of the Fund to the extent provided by regulations and may be limited. Under the Regulated Investment Company Modernization Act of 2010 (the Act), the Fund is permitted to carry forward capital losses incurred in taxable years beginning after December 22, 2010 for an unlimited period and such capital losses are required to be used prior to any losses that expire. The capital loss carryforward information presented below, including any applicable limitation, is estimated as of prior fiscal period end and is subject to adjustment.

|Fiscal year of expiration |                
|------------------------- | ---------------
|2017                      | $	(284,273,262)

Short-Term Trading (Redemption) Fees. Shares held by investors in the Fund less than 90 days may have been subject to a redemption fee equal to 2.00% of the NAV of shares redeemed. All redemption fees, which reduce the proceeds of the shareholder redemption, are retained by the Fund and accounted for as an addition to paid in capital.

New Accounting Pronouncement.In June 2014, the Financial Accounting Standards Board issued Accounting Standard Update No. 2014-11, Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures (the Update). The Update amends the accounting for certain repurchase agreements and expands disclosure requirements for reverse repurchase agreements, securities lending and other similar transactions. The disclosure requirements are effective for annual and interim reporting periods beginning after December 15, 2014. Management is currently evaluating the impact of the Update on the Fund's financial statements and related disclosures.

Semiannual Report

Notes to Financial Statements (Unaudited) - continued

4. Purchases and Sales of Investments.

Purchases and sales of securities, other than short-term securities, aggregated $54,722,372 and $65,319,886, respectively.

5. Fees and Other Transactions with Affiliates.

Management Fee. Fidelity Management & Research Company (the investment adviser) and its affiliates provide the Fund with investment management related services for which the Fund pays a monthly management fee. The management fee is the sum of an individual fund fee rate that is based on an annual rate of .60% of the Fund's average net assets and an annualized group fee rate that averaged .25% during the period. The group fee rate is based upon the average net assets of all the mutual funds advised by the investment adviser, including any mutual funds previously advised by the investment adviser that are currently advised by Fidelity SelectCo, LLC, an affiliate of the investment adviser. The group fee rate decreases as assets under management increase and increases as assets under management decrease. In addition, the management fee is subject to a performance adjustment (up to a maximum of ± .20% of the Fund's average net assets over a 36 month performance period). The upward or downward adjustment to the management fee is based on the relative investment performance of International Small Cap Opportunities as compared to its benchmark index, the MSCI EAFE Small Cap Index, over the same 36 month performance period. For the reporting period, the total annualized management fee rate, including the performance adjustment, was .93% of the Fund's average net assets. The performance adjustment included in the management fee rate may be higher or lower than the maximum performance adjustment rate due to the difference between the average net assets for the reporting and performance periods.

Distribution and Service Plan Fees. In accordance with Rule 12b-1 of the 1940 Act, the Fund has adopted separate Distribution and Service Plans for each class of shares, except for the Institutional Class. Certain classes pay Fidelity Distributors Corporation (FDC), an affiliate of the investment adviser, separate Distribution and Service Fees, each of which is based on an annual percentage of each class' average net assets. In addition, FDC may pay financial intermediaries for selling shares of the Fund and providing shareholder support services. For the period, the Distribution and Service Fee rates, total fees and amounts retained by FDC were as follows:

|        | Distribution
Fee | Service
Fee | Total Fees | Retained
by FDC
|------- | ---------------- | ----------- | ---------- | ---------------
|Class A | -%               | .25%        | $	30,922   | $	973          
|Class T | .25%             | .25%        | 24,256     | 265            
|Class B | .75%             | .25%        | 3,484      | 2,627          
|Class C | .75%             | .25%        | 43,280     | 5,695          
|        |                  |             | $	101,942  | $	9,560        

Semiannual Report

5. Fees and Other Transactions with Affiliates - continued

Sales Load. FDC may receive a front-end sales charge of up to 5.75% for selling Class A shares and 3.50% for selling Class T shares, some of which is paid to financial intermediaries for selling shares of the Fund. Depending on the holding period, FDC may receive contingent deferred sales charges levied on Class A, Class T, Class B, and Class C redemptions. The deferred sales charges range from 5.00% to 1.00% for Class B shares, 1.00% for Class C shares, 1.00% for certain purchases of Class A shares and .25% for certain purchases of Class T shares.

For the period, sales charge amounts retained by FDC were as follows:

|         | Retained
by FDC
|-------- | ---------------
|Class A  | $	7,312        
|Class T  | 1,244          
|Class B* | 43             
|Class C* | 2,160          
|         | $	10,759       

*	When Class B and Class C shares are initially sold, FDC pays commissions from its own resources to financial intermediaries through which the sales 	are made.

Transfer Agent Fees.Fidelity Investments Institutional Operations Company, Inc., (FIIOC), an affiliate of the investment adviser, is the transfer, dividend disbursing and shareholder servicing agent for each class of the Fund. FIIOC receives account fees and asset-based fees that vary according to the account size and type of account of the shareholders of the respective classes of the Fund. FIIOC pays for typesetting, printing and mailing of shareholder reports, except proxy statements.

For the period, transfer agent fees for each class were as follows:

|                                      | Amount    | % of
Class-Level Average
Net Assets*
|------------------------------------- | --------- | ------------------------------------
|Class A                               | $	35,457  | .29                                 
|Class T                               | 14,581    | .30                                 
|Class B                               | 1,024     | .29                                 
|Class C                               | 12,577    | .29                                 
|International Small Cap Opportunities | 634,263   | .23                                 
|Institutional Class                   | 57,526    | .19                                 
|                                      | $	755,428 |                                     

*Annualized

Semiannual Report

Notes to Financial Statements (Unaudited) - continued

5. Fees and Other Transactions with Affiliates - continued

Accounting and Security Lending Fees.Fidelity Service Company, Inc. (FSC), an affiliate of the investment adviser, maintains the Fund's accounting records. The accounting fee is based on the level of average net assets for each month. Under a separate contract, FSC administers the security lending program. The security lending fee is based on the number and duration of lending transactions.

Brokerage Commissions.The Fund placed a portion of its portfolio transactions with brokerage firms which are affiliates of the investment adviser. Brokerage commissions are included in net realized gain (loss) and change in net unrealized appreciation (depreciation) in the Statement of Operations. The commissions paid to these affiliated firms were $139 for the period.

6. Committed Line of Credit.

The Fund participates with other funds managed by the investment adviser or an affiliate in a $4.25 billion credit facility (the "line of credit") to be utilized for temporary or emergency purposes to fund shareholder redemptions or for other short-term liquidity purposes. The Fund has agreed to pay commitment fees on its pro-rata portion of the line of credit, which amounted to $510 and is reflected in Miscellaneous expenses on the Statement of Operations. During the period, the Fund did not borrow on this line of credit.

7. Security Lending.

The Fund lends portfolio securities through a lending agent from time to time in order to earn additional income. For equity securities, a lending agent is used and may loan securities to certain qualified borrowers, including Fidelity Capital Markets (FCM), a broker-dealer affiliated with the Fund. On the settlement date of the loan, the Fund receives collateral (in the form of U.S. Treasury obligations, letters of credit and/or cash) against the loaned securities and maintains collateral in an amount not less than 100% of the market value of the loaned securities during the period of the loan. The market value of the loaned securities is determined at the close of business of the Fund and any additional required collateral is delivered to the Fund on the next business day. If the borrower defaults on its obligation to return the securities loaned because of insolvency or other reasons, the Fund may apply collateral received from the borrower against the obligation. The Fund may experience delays and costs in recovering the securities loaned. Any cash collateral received is invested in the Fidelity Securities Lending Cash Central Fund. The value of loaned securities and cash collateral at period end are disclosed on the Fund's Statement of Assets and Liabilities. Security lending income represents the income earned on investing cash collateral, less rebates paid to borrowers

Semiannual Report

7. Security Lending - continued

and any lending agent fees associated with the loan, plus any premium payments received for lending certain types of securities. Security lending income is presented in the Statement of Operations as a component of income from Fidelity Central Funds. Total security lending income during the period amounted to $11,304, including $739 from securities loaned to FCM.

8. Expense Reductions.

Commissions paid to certain brokers with whom the investment adviser, or its affiliates, places trades on behalf of the Fund include an amount in addition to trade execution, which may be rebated back to the Fund to offset certain expenses. This amount totaled $11,530 for the period.

In addition, the investment adviser reimbursed a portion of the Fund's operating expenses, including certain International Small Cap Opportunities expenses during the period in the amount of $390.

9. Distributions to Shareholders.

Distributions to shareholders of each class were as follows:

|                                      | Six months ended 
April 30, 
2015 | Year ended 
October 31, 
2014
|------------------------------------- | --------------------------------- | -----------------------------
|From net investment income            |                                   |                              
|Class A                               | $	91,925                          | $	88,584                     
|Class T                               | 4,261                             | 17,038                       
|International Small Cap Opportunities | 3,599,410                         | 3,435,414                    
|Institutional Class                   | 286,715                           | 39,565                       
|Total                                 | $	3,982,311                       | $	3,580,601                  
|From net realized gain                |                                   |                              
|Class A                               | $	38,609                          | $	127,238                    
|Class T                               | 14,913                            | 56,084                       
|Class C                               | -                                 | 33,933                       
|International Small Cap Opportunities | 839,863                           | 2,982,391                    
|Institutional Class                   | 56,271                            | 33,974                       
|Total                                 | $	949,656                         | $	3,233,620                  

Semiannual Report

Notes to Financial Statements (Unaudited) - continued

10. Share Transactions.

Share transactions for each class were as follows and may contain automatic conversions between classes or exchanges between funds:

|                                      | Shares                           | Dollars                      
|------------------------------------- | -------------------------------- | -----------------------------
|                                      | Six months ended April 30, 
2015 | Year ended 
October 31, 
2014
|Class A                               |                                  |                              
|Shares sold                           | 296,540                          | 589,478                      
|Reinvestment of distributions         | 9,185                            | 14,226                       
|Shares redeemed                       | (339,024)                        | (381,134)                    
|Net increase (decrease)               | (33,299)                         | 222,570                      
|Class T                               |                                  |                              
|Shares sold                           | 56,447                           | 159,216                      
|Reinvestment of distributions         | 1,404                            | 5,309                        
|Shares redeemed                       | (91,744)                         | (142,062)                    
|Net increase (decrease)               | (33,893)                         | 22,463                       
|Class B                               |                                  |                              
|Shares sold                           | 5,597                            | 1,461                        
|Shares redeemed                       | (14,082)                         | (51,497)                     
|Net increase (decrease)               | (8,485)                          | (50,036)                     
|Class C                               |                                  |                              
|Shares sold                           | 207,711                          | 200,445                      
|Reinvestment of distributions         | -                                | 2,336                        
|Shares redeemed                       | (84,605)                         | (172,604)                    
|Net increase (decrease)               | 123,106                          | 30,177                       
|International Small Cap Opportunities |                                  |                              
|Shares sold                           | 3,587,994                        | 13,421,171                   
|Reinvestment of distributions         | 239,997                          | 360,554                      
|Shares redeemed                       | (7,541,433)                      | (8,930,544)                  
|Net increase (decrease)               | (3,713,442)                      | 4,851,181                    
|Institutional Class                   |                                  |                              
|Shares sold                           | 3,812,188                        | 2,469,158                    
|Reinvestment of distributions         | 23,468                           | 4,980                        
|Shares redeemed                       | (437,357)                        | (724,026)                    
|Net increase (decrease)               | 3,398,299                        | 1,750,112                    

Semiannual Report

11. Other.

The Fund's organizational documents provide former and current trustees and officers with a limited indemnification against liabilities arising in connection with the performance of their duties to the Fund. In the normal course of business, the Fund may also enter into contracts that provide general indemnifications. The Fund's maximum exposure under these arrangements is unknown as this would be dependent on future claims that may be made against the Fund. The risk of material loss from such claims is considered remote.

Semiannual Report

Investment Adviser

Fidelity Management & Research Company

Boston, MA

Investment Sub-Advisers

FMR Co., Inc.

Fidelity Management & Research
	(Hong Kong) Limited

Fidelity Management & Research
	(Japan) Limited

FMR Investment Management
	(U.K.) Limited

FIL Investments (Japan) Limited

FIL Investment Advisors

FIL Investment Advisors (U.K.) Limited

General Distributor

Fidelity Distributors Corporation

Smithfield, RI

Transfer and Service Agents

Fidelity Investments Institutional
	Operations Company, Inc.

Boston, MA

Fidelity Service Company, Inc.

Boston, MA

Custodian

The Northern Trust Company

Chicago, IL

The Fidelity Telephone Connection

Mutual Fund 24-Hour Service

Exchanges/Redemptions 
	and Account Assistance	1-800-544-6666

Product Information	1-800-544-6666

Retirement Accounts	1-800-544-4774 
	(8 a.m. - 9 p.m.)

TDD Service	1-800-544-0118
	for the deaf and hearing impaired
	(9 a.m. - 9 p.m. Eastern time)

Fidelity Automated Service 
	Telephone (FAST®) int1341 	1-800-544-5555

int1343	Automated line for quickest service

(Fidelity Investment logo)(registered trademark)Corporate Headquarters245 Summer St., Boston, MA 02210www.fidelity.com

`ILS-USAN-0615
1.815077.109`

Item 2.		Code of Ethics

Not applicable.



Item 3.		Audit Committee Financial Expert

Not applicable.

Item 4.		Principal Accountant Fees and Services

Not applicable.

Item 5.		Audit Committee of Listed Registrants

Not applicable.

Item 6.  	Investments

(a)		Not applicable.

(b)		Not applicable

Item 7.	Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies

Not applicable.

Item 8.	Portfolio Managers of Closed-End Management Investment Companies

Not applicable.

Item 9.  	Purchase of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers

Not applicable.

Item 10.	Submission of Matters to a Vote of Security Holders

There were no material changes to the procedures by which shareholders may recommend nominees to the Fidelity Investment Trust's Board of Trustees.

Item 11.	Controls and Procedures

(a)(i)  The President and Treasurer and the Chief Financial Officer have concluded that the Fidelity Investment Trust's (the "Trust") disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act) provide reasonable assurances that material information relating to the Trust is made known to them by the appropriate persons, based on their evaluation of these controls and procedures as of a date within 90 days of the filing date of this report.

(a)(ii)  There was no change in the Trust's internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act) that occurred during the second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the Trust's internal control over financial reporting.

Item 12.	Exhibits

|(a) | (1) | Not applicable.                                                                                                                                               
|--- | --- | --------------------------------------------------------------------------------------------------------------------------------------------------------------
|(a) | (2) | Certification pursuant to Rule 30a-2(a) under the Investment Company Act of 1940 (17 CFR 270.30a-2(a)) is filed and attached hereto as Exhibit 99.CERT.       
|(a) | (3) | Not applicable.                                                                                                                                               
|(b) |     | Certification pursuant to Rule 30a-2(b) under the Investment Company Act of 1940 (17 CFR 270.30a-2(b)) is furnished and attached hereto as Exhibit 99.906CERT.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Fidelity Investment Trust

|By:   | /s/Kenneth B. Robins   
|----- | -----------------------
|      | Kenneth B. Robins      
|      | President and Treasurer
|      |                        
|Date: | June 26, 2015          

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

|By:   | /s/Kenneth B. Robins   
|----- | -----------------------
|      | Kenneth B. Robins      
|      | President and Treasurer
|      |                        
|Date: | June 26, 2015          

|By:   | /s/Howard J. Galligan III
|----- | -------------------------
|      | Howard J. Galligan III   
|      | Chief Financial Officer  
|      |                          
|Date: | June 26, 2015