Fidelity Advisor International Capital Appreciation Fund - Class I (FCPIX)

Fidelity Advisor International Capital Appreciation Fund Class I is a mutual fund designed to deliver long-term capital appreciation by investing primarily in non-U.S. equities, with exposure to both developed and emerging markets. The fund typically focuses on large-cap growth stocks, allocating assets across a range of countries and sectors to capture global opportunities outside the United States. Its investment strategy relies on bottom-up fundamental analysis, targeting high-quality companies that benefit from durable competitive advantages such as strong brands, robust barriers to entry, and best-in-class management teams. This approach is complemented by a unique risk-managed portfolio construction process that seeks to optimize risk-adjusted returns, often deviating from market weights to enhance potential outperformance. Major portfolio holdings frequently include industry leaders in technology, healthcare, and consumer sectors, reflecting the fund’s emphasis on growth-oriented businesses. Fidelity Advisor International Capital Appreciation Fund Class I plays a key role for investors and institutions seeking diversification beyond U.S. markets, aiming to benefit from economic trends and innovation across the global landscape.