Fidelity Global Short Duration Income Fund

The fund aims to provide income whilst maintaining an average duration of investments not exceeding three years. The fund invests at least 70% of its assets, in debt securities including investment grade corporate bonds and government bonds of varying maturities, below investment grade and emerging market bonds, from anywhere in the and denominated in various currencies. The fund may also invest in money market instruments and/or other short term debt instruments including certificates of deposit, commercial paper and floating rate notes, cash and cash equivalents. The fund may invest in the following assets according to the percentages indicated: - below investment grade debt securities: up to 50% - investment grade debt securities: at least 50% - Listed China onshore debt securities (directly and/or indirectly): less than 30% (in aggregate). The portfolio seeks to maintain an overall average credit rating of investment grade.