Fidelity Global Multi Asset Growth & Income Fund

<p>Objective: The fund aims to achieve capital growth over the medium to long term and provide income. Investment Policy: The fund invests in a range of asset classes including corporate and government debt securities, equities, real estate, infrastructure and commodities, from anywhere in the world, including emerging markets. The fund may invest in the following assets according to the percentages indicated: </p><ul class='list'><li>below investment grade or unrated bonds: up to 75% <li>equities: up to 80%, with up to 60% in emerging market equities <li>emerging market bonds: up to 60% <li>China A and B shares and listed onshore bonds (directly and/or indirectly) including urban investment bonds: less than 30% (in aggregate) <li>China offshore bonds (including dim sum bonds): up to 30% <li>convertible securities (hybrids and contingent convertible (CoCo) bonds): less than 30%, with less than 20% in CoCos <li>REITs, infrastructure securities and commodities: less than 30% (in each of the asset classes) <li>investment grade bonds: up to 100% <li>money market instruments: up to 30% <li>SPACs: less than 5% The fund’s exposure to distressed securities is limited to 10% of its assets. Investment Process: In actively managing the fund, the Investment Manager combines macroeconomic, market and fundamental company analysis to flexibly allocate investments across asset classes and geographic areas based on their potential to generate capital growth and income within the portfolio. The fund’s income is mainly generated by dividend payments of equities and coupon payments of bonds and payments out of capital. The Investment Manager considers ESG characteristics when assessing investment risks and opportunities. In determining ESG characteristics, the Investment Manager takes into account ESG ratings provided by Fidelity or external agencies. Through the investment management process, the Investment Manager aims to ensure that investee companies follow good governance practices. A minimum of 70% of the fund’s assets will adhere to specific multi asset ESG criteria. For more information, see “Sustainable Investing and ESG Integration” and Sustainability Annex. Derivatives and Techniques: The fund may use derivatives for hedging, efficient portfolio management and investment purposes. Benchmark: None.</ul>