Key Investor Information This document provides you with key investor information about this fund. It is not marketing material. The information is required by law to help you understand the nature and the risks of investing in this fund. You are advised to read it so you can make an informed decision about whether to invest. Fidelity Funds - Global High Yield Fund a sub-fund of Fidelity Funds A-MINCOME-Euro (hedged) (ISIN: LU0740037378 / WKN: A1JT9D) This fund is managed by FIL Investment Management (Luxembourg) S.A. n The fund aims to provide a high level of current income and capital growth. n The fund will invest at least 70% in high-yielding, sub investment grade bonds of issuers globally. n Investments are concentrated in a more limited number of bonds and therefore the resulting portfolio will be less diversified. n The fund can invest in bonds issued by governments, companies and other bodies. n The types of bonds in which the fund will mainly invest will be subject to high risk and will not be required to meet a minimum rating standard. n The fund has the freedom to invest outside its principal geographies, market sectors, industries or asset classes. n As this fund may invest globally, it may invest in countries considered to be emerging markets. n The fund may invest up to 10% directly in onshore China bonds (with aggregate exposure including direct and indirect investments being less than 30%). n The fund may invest in assets directly or achieve exposure indirectly through other eligible means including derivatives. The fund can use derivatives with the aim of risk or cost reduction or to generate additional capital or income, including for investment purposes, in line with the fund’s risk profile. n Investments may be made in currencies other than the fund’s reference currency. Exposure to currencies may be hedged, for example with currency forward contracts. The fund's reference currency is the currency used for reporting and may be different from the currency of denomination of the investments. n Currency hedging is used to substantially reduce the risk of losses from unfavourable exchange rate movements. Currency look-through hedging is used to hedge the underlying currency effects to that of the hedged share class reference currency, thereby delivering the underlying market returns. In order to preserve returns from any active currency positions in the fund, such exposures are hedged with reference to the currency weights of a comparison index rather than to the currency denominations of the underlying securities. n The fund is actively managed and references the ICE Bank of America Merrill Lynch Q788 Custom Index (hedged to USD) (the ‘‘Benchmark’’). The Investment Manager has a wide range of discretion over the composition of the fund’s portfolio. It may take exposures that are not included in, and that have different weightings from, the Benchmark.