Fidelity Funds - Global Multi Asset Defensive Fund A-ACC-Euro/  LU0393653166  /

The fund aims to achieve capital growth while seeking to preserve capital over the long term. Investment Policy: The fund invests, in a range of asset classes, including equities, corporate and government investment grade and below investment grade bonds, money market instruments, eligible REITs and eligible commodity exposure, from anywhere in the world, including emerging markets. The fund may invest in the following assets according to the percentages indicated: below investment grade bonds: less than 30% China A and B shares and listed onshore (directly and/or indirectly): less than 20% (in aggregate) hybrids and contingent convertible (CoCo) bonds: less than 30%, with less than 20% in CoCos. The fund may also Invest in other subordinated financial debt and preference shares. The fund"s exposure to distressed securities is limited to 10% of its assets. In actively managing the fund, the Investment Manager will allocate investments across asset classes and geographic areas based on their potential to generate growth or reduce overall risk. The fund adopts a multi asset approach which affords significant potential for diversification. The Investment Manager takes into account Sustainability Risks in its investment process. For more information, see "Sustainable Investing and ESG Integration"

The fund aims to achieve capital growth while seeking to preserve capital over the long term. Investment Policy: The fund invests, in a range of asset classes, including equities, corporate and government investment grade and below investment grade bonds, money market instruments, eligible REITs and eligible commodity exposure, from anywhere in the world, including emerging markets. The fund may invest in the following assets according to the percentages indicated: below investment grade bonds: less than 30% China A and B shares and listed onshore (directly and/or indirectly): less than 20% (in aggregate) hybrids and contingent convertible (CoCo) bonds: less than 30%, with less than 20% in CoCos. The fund may also Invest in other subordinated financial debt and preference shares. The fund"s exposure to distressed securities is limited to 10% of its assets.