4384_2017_09.

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FIDELITY MULTINATIONAL RETIREMENT SAVINGS (MRS) FUNDS 30 SEPTEMBER 2017

MRS - FIDELITY AMERICA FUND USD - CLASS 5

Fund objective Fund facts
This life fund invests in an underlying fund managed by Fidelity. The objective of the underlying Benchmark
fund is: 100% S&P 500 (N)
Invests principally in US equity securities.
Fund Manager
Underlying fund - Fidelity - Angel Agudo
Fund size $24m
Launch date 31.07.13
Base currency USD
Annual management charge 1.250%
Performance as at 30.09.2017 Other charges 0.230%
Past performance is not a reliable indicator of future results. Total Expense Ratio 1.480%
The total expense ratio (TER) is a measure of the total costs associated with managing
Yearly performance
and operating an investment fund. The charges are reflected in the quoted unit/share
1 October 2012 1 October 2013 1 October 2014 1 October 2015 1 October 2016
to to to to to price for the fund and are not deducted directly from your account. A full explanation of
30 September 2013 30 September 2014 30 September 2015 30 September 2016 30 September 2017 fund charges can be found in your plan literature.
SEDOL number BC7GYN5
Fund 23.9%* 20.6% -0.1% 13.7% 9.0%
ISIN number IE00BC7GYN52
Benchmark 18.5% 19.0% -1.2% 14.7% 17.9%
Fund management style Active

Annualised performance
1 Year 3 Years 5 Years Since Launch

Fund 9.0% 7.4% 13.1%* 10.4% The majority of our funds will not be available for review on external fund websites
Benchmark 17.9% 10.1% 13.5% 11.8% by searching for the ISIN or SEDOL numbers.

*If shown, as the life fund is less than five years old, we have modelled its performance prior to
launch based on the performance of the fund that it invests into. Figures reflect the return on Risk factors
investment after the fund’s charges have been deducted. The value of your investments may go down as well as up and you may not
Fund footnote: This fund is part of the long-term pension business of FIL Life Insurance Limited. get back the amount invested.
Performance is calculated on a NAV to NAV basis. Net of fees. Source: Fidelity.
Indicative fund footnote: This fund is indicative of the long-term pension business of FIL Life Fund specific risk factors (see overleaf)
Insurance Limited. Performance is calculated on a NAV to NAV basis. Net of fees. Source: Fidelity.
6: Exchange rate 15: Smaller companies
Benchmark footnote: 100% S&P 500 (N). Datasource: Fidelity.

Equity exposure as at 30.09.2017 Risk rating

There are explanatory notes under this and the other tables on this factsheet. However, please
refer to page 2 for a full description of how data is calculated and presented.
Exposure (% TNA)
Equity 98.7
Other 0.0
Uninvested cash 1.3 M2 - Medium-Higher risk/return
Source: Fidelity The potential for capital growth is higher than the medium risk/return
Equity: the percentage of the fund that is currently invested in the equity market. The higher the figure, the more the category, but risk is increased. Funds in this category can often experience
fund will take part in any market rises or falls. large fluctuations in value, either up or down, especially in the shorter term.
Other: the value of any non-equity investments (excluding cash funds) expressed as a percentage of fund TNA.
Uninvested cash: this is 100% minus the fund’s Equity exposure and minus Other. This leaves any residual cash
exposure that is not invested in shares or via derivatives. Risk ratings on this factsheet are assigned by FIL Life. They are an indication
% TNA: Data is presented as a percentage of TNA, which stands for Total Net Assets (the value of all the fund’s only and take into account volatility, based on past performance, and an
assets after the deduction of any liabilities). internal assessment of the underlying asset types in the fund. Ratings may
change, do not imply or offer any guarantee, and only apply to, and in
comparison with, the funds made available by Fidelity's DC business.
Sector/Industry exposure (% TNA) Country exposure (% TNA)
as at 30.09.2017 as at 30.09.2017
GICS Sector
Financials 26.1 USA 86.1
Information Technology 23.7 Netherlands 4.2
Health Care 16.8 Germany 2.9
11.0 2.2
Top positions (% TNA) as at 30.09.2017
Industrials Canada
Consumer Staples 6.3 United Kingdom 2.0 BERKSHIRE HATHAWAY INC DEL 5.7
Energy 5.2 Sweden 1.2 WILLIS TOWERS WATSON PLC 5.6
Materials 4.5 Uninvested Cash 1.3 ORACLE CORP 5.5
Telecommunication Services 3.0 ABBOTT LABORATORIES 4.4
Consumer Discretionary 2.0 L3 TECHNOLOGIES INC 3.4
BANK NEW YORK MELLON CORP 3.4
CITIGROUP INC 3.1
Uninvested Cash 1.3 CIGNA CORP 3.1
VERIZON COMMUNICATIONS INC 3.0
Other Index / Unclassified 0.0 Other Index / Unclassified 0.0 LINDE AG 2.9
Total (including uninvested cash) 100.0 Total (including uninvested cash) 100.0
Source: Fidelity
Source: Fidelity Those companies in which the largest percentages of the fund’s total net assets are
These tables include the effect of derivatives where they can be linked to the underlying issuing company, effectively invested. A position is an aggregate of all equity investments (including
otherwise they are included in the “Other Index / Unclassified” category. Derivatives are included on an exposure derivatives) linked to an underlying issuing company. Positions in other funds – including
basis, and, where necessary are delta-adjusted. Delta–adjusting expresses derivatives in terms of the equivalent ETFs (Exchange Traded Funds) – can appear in this table, but index derivatives form part
number of shares that would be needed to generate the same return. The sector/industry classification used (ie of an “Other Index / Unclassified” category which will not appear. Reference in this
GICS, ICB, TOPIX or IPD) varies by fund. Full descriptions of GICS, ICB, TOPIX and IPD can be found on page 2 of document to specific securities should not be considered as a recommendation to buy or
this factsheet. Due to rounding the exposure breakdown figures may not equal the total exposure figure shown. sell these securities, but is included for the purposes of illustration only.

4384 54809 T302

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4384_2017_09.pdf

FIDELITY MULTINATIONAL RETIREMENT SAVINGS (MRS) FUNDS 30 SEPTEMBER 2017

MRS - FIDELITY AMERICA FUND USD - CLASS 5

Risk factors explained
1. Concentrated portfolio. The fund may invest in a relatively smaller number of stocks. This stock concentration may carry more risk than funds spread across a larger number of
companies.

2. Derivative exposure. The fund invests in derivatives as part of its investment strategy, over and above their use for efficient portfolio management. Investors should be aware that
the use of these instruments can, under certain circumstances, increase the volatility and risk profile of the fund beyond that expected of a fund that only invests in equities. The fund
may also be exposed to the risk that the company issuing the derivative may not honour their obligations which in turn could lead to losses arising.

3. Efficient portfolio management. The fund may use other investment instruments apart from / or in place of the actual underlying securities. This is done in order to manage the fund
in a more efficient fashion. Examples of these other instruments could be options, derivatives or warrants. The process of using these instruments in the fund is referred to as efficient
portfolio management. These instruments can be used to effectively take a position (or reduce an existing position) in a share or index, allowing positions to be altered more quickly
and cost effectively than dealing directly in the underlying investment, but are not generally used to try and magnify returns. However, investors should be aware that the use of these
instruments can, under certain circumstances, increase volatility and risk beyond that expected of a fund that only invests in conventional equities.

4. Emerging markets. The fund invests in emerging markets. There is an increased chance of political and economic instability with less reliable custody, dealing and settlement
arrangements. The market(s) can be less liquid. If a fund investing in markets is affected by currency exchange rates, the investment could either increase or decrease. These
investments, therefore, carry more risk.

5. Ethical restrictions. The fund is unable to invest in certain sectors and companies due to the ethical criteria used to select investments for the fund.

6. Exchange rate. The fund may invest in securities denominated in currencies that are different to the fund currency. The value of investments and any income from them may,
therefore, decrease or increase as a result of changes in exchange rates between currencies.

7. Geared investments. The fund focuses on geared investments. Funds which focus on geared investments such as warrants or options carry a higher degree of risk than other equity
investments because of the risk of the underlying investments. It is possible that the fund may suffer sudden and large falls in value so that the short fall on cancellation, or the loss of
the realisation on the investment could be very high and could even equal the amount invested, in which case you would get nothing back.

8. High yield bonds. The fund invests in high yield bonds. High yield bonds carry a greater risk of default than investment grade bonds, and economic conditions and interest rate
movements will have a greater effect on their price. Income levels may not be achieved and the income provided may vary.

9. Specialist. The fund is specifically aimed at sophisticated investors and is particularly high risk, because it concentrates on a region that may be exposed to unusual political or
economic risks. You should only invest if you are comfortable with the specific risks pertaining to the fund in question.

10. Income eroding capital growth. The fund focuses on income which may reduce the prospect of capital growth. Any income generated cannot generally be withdrawn from a
pension account until retirement and will be reinvested in the fund.

11. Liquidity. The fund can suffer from partial or total illiquidity, which may lead to considerable price fluctuations and the inability to redeem your investment. This could affect you, for
example, when you are close to retirement.

12. Performance charges. The fund makes charges that depend on the fund's performance.

13. Property funds. The fund invests directly in physical property and there may be delays in completing your instruction to sell. This could affect you, for example when you are close
to retirement, as it may be difficult to sell the units you hold in such funds. Any decision to invest in physical property should be carefully considered in line with your planned
retirement goals. The value of physical property is generally a matter of a valuer’s opinion rather than fact. Property transaction costs are high (typically around 5% due to legal costs,
valuations and stamp duty).

14. Sector specific funds. The fund invests in specific sectors. Funds which invest in specific sectors may carry more risk than those spread across a number of different sectors. They
may assume higher risk, as markets/sectors can be more volatile. In particular, gold, technology funds and other focused funds can suffer as the underlying stocks can be more
volatile and less liquid.

15. Smaller companies. The fund invests in smaller companies. Smaller companies' shares can be more volatile and less liquid than larger companies' shares, so smaller company
funds can carry more risk.

16. Solvency of depositary. The value of the fund may be affected if any of the institutions with which cash is deposited becomes insolvent or experiences other financial difficulties.

17. Solvency of issuers. The fund invests in bonds and there is a risk that the issuer may default, resulting in a loss to the portfolio.

18. Volatility. Investments in the fund tend to be volatile and investors should expect an above-average price increase or decrease.

How data is calculated and presented

Portfolio composition data has been calculated and presented according to several general principles, which are listed below.
- Aggregation: all investments, including derivatives, linked to a particular issuing company have been combined to form a total percentage holding for each company. The
aggregate holding is referred to in this factsheet as a position. Where a company is listed in two separate countries, each listing may be classified as a separate issuing company.
Exchange Traded Funds (ETFs) and derivatives on ETFs are treated as individual securities – ie not aggregated.
- Categorisation: for investments that have underlying securities we use the attributes of the underlying issuing company or common share to determine the appropriate sector,
market capitalisation band and geographic area.
- Derivatives: all derivatives are included on an exposure basis and, where necessary, are delta-adjusted. Delta-adjusting expresses derivatives in terms of the equivalent number of
shares that would be needed to generate the same return.
- “Basket” securities: securities that represent a number of company shares – like index futures or options – are allocated to categories (such as country) whenever possible.
Otherwise they are included in the “Other Index / Unclassified” category.
Sector/industry classfication
GICS: Global Industry Classification Standard (GICS) was developed by Standard & Poor's and MSCI Barra. GICS consists of 11 sectors, 24 industry groups, 68 industries and 157 sub-
industries. More information is available at http://www.standardandpoors.com/indices/gics/en/us
ICB: The Industry Classification Benchmark (ICB) is an industry classification developed by Dow Jones and FTSE. It is used to segregate markets into sectors within the macroeconomy.
The ICB uses a system of 10 industries, partitioned into 19 supersectors, which are further divided into 41 sectors, which then contain 114 subsectors. More information is available at
http://91.235.121.52/industry-classification-benchmark-icb
TOPIX: Tokyo stock Price Index, commonly known as TOPIX, is a stock market index for the Tokyo Stock Exchange (TSE) in Japan, tracking all domestic companies of the exchange's
First Section. It is calculated and published by the TSE.
IPD means the Investment Property Databank who are a provider of performance analysis and benchmarking services for investors in real estate. IPD UK Pooled Property Funds Index
– All Balanced Funds is a component of the IPD Pooled Funds Indices which is published quarterly by IPD.

Please note that the information detailed in this factsheet is not intended for U.S residents. This Fund is part of the long-term business fund
of FIL Life Insurance (Ireland) Designated Activity Company. The Fund will invest into an underlying fund(s) of either other FIL group
companies, and/or third party fund managers. Issued by FIL Life Insurance (Ireland) Designated Activity Company, authorised by the
Central Bank of Ireland as a life assurance undertaking under the European Union (Insurance and Reinsurance) Regulations 2015, as
amended and incorporated with limited liability under the Companies Acts 2014, with registration number: 513819. Registered Office:
Georges Quay House, 43 Townsend Street, Dublin 2, DO2 VK65, Ireland. Registered in Ireland, Company No. 51381. Fidelity, Fidelity
International, the Fidelity International logo and F symbol are trademarks of FIL Limited. DCSSO3840 4384 54809 T302