Fidelity International Small Cap Opportunities Fund: Q3 2025 Performance Review and Investment Strategy

Instructions

This document provides a comprehensive overview of the Fidelity International Small Cap Opportunities Fund's performance for the third quarter of 2025, outlining its investment methodology and strategic positioning within the global equity markets.

Unlocking Global Growth: A Deep Dive into International Small Cap Opportunities

Q3 2025 Performance Overview

In the third quarter of 2025, the fund's shares saw a modest increase of 2.03%. This performance trailed the benchmark MSCI EAFE Small Cap Index (Net MA), which experienced a more significant rise of 6.24% over the same period. The disparity in returns highlights specific market dynamics and portfolio exposures that influenced the fund's results.

Fund's Core Investment Philosophy

The Fidelity International Small Cap Opportunities Fund employs a diversified international equity approach, primarily concentrating on small to mid-capitalization growth-oriented companies. This strategy emphasizes identifying enterprises with strong potential for long-term expansion.

Strategic Company Selection Criteria

Our investment framework is designed to pinpoint businesses exhibiting durable structural growth trajectories. Key criteria include companies that possess high barriers to entry, safeguarding their market positions, and those trading at compelling valuations based on our rigorous earnings projections and fundamental analysis.

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