Announcement: EU Sanctions following Russia's military aggression against Ukraine

Announcement: EU Sanctions following Russia's military aggression against Ukraine

Fidelity International is committed to the fight against financial crime and makes every effort to remain in full compliance with all applicable financial crime related laws, regulations, and standards in all of the jurisdictions in which we operate.

This includes complying with applicable sanctions laws and regulations issued regarding Russia and Belarus. As a matter of policy and in line with our clients’ and counterparties’ expectations, we will continue to implement the highest applicable level of sanctions compliance for our customers, funds, and investment vehicles.

Specifically, EU domiciled investment funds of Fidelity International (“Impacted Funds”) are required to comply with the prohibitions imposed by Council Regulation (EU) No 833/2014 of 31 July 2014 concerning restrictive measures in view of Russia's actions destabilizing the situation in Ukraine, as amended (the “Regulation 833/2014”), in particular by Council Regulation (EU) 2022/328 of 25 February 2022 amending Regulation No 833/2014 as well as the Council Regulation (EU) 2022/398 of 9 March 2022 amending Regulation (EC) No 765/2006 concerning restrictive measures in view of the situation in Belarus and the involvement of Belarus in the Russian aggression against Ukraine.

As a consequence, these Impacted Funds will no longer accept new investors or subscriptions of existing investors that are a Russian/Belarusian nationals or natural persons residing in Russia/Belarus or any legal person, entity or body established in Russia/Belarus as per Article 5f of the aforementioned regulation (“Affected Persons”). This restriction does not apply to EU nationals or to Russian/Belarusian nationals having a temporary or permanent residence permit in an EU Member State.

As per FAQ of the European Commission the purpose of the measure is to limit access to Russia entities and persons in Russia and to avoid circumvention of other refinancing prohibitions which are set out in the same Regulation.

Based on the above established policy, starting from 12 April 2022, Fidelity International expects its distribution network to act in accordance with the above.

This document is issued by FIL Responsible Entity (Australia) Limited ABN 33 148 059 009, AFSL No. 409340 (“Fidelity Australia”).  Fidelity Australia is a member of the FIL Limited group of companies commonly known as Fidelity International.

Prior to making an investment decision, retail investors should seek advice from their financial adviser. This document is intended as general information only. Please remember past performance is not a guide to the future. Investors should also obtain and consider the Product Disclosure Statements ("PDS") for the fund(s) mentioned in this document before making any decision about whether to acquire the product. The PDS is available on www.fidelity.com.au or can be obtained by contacting Fidelity Australia on 1800 119 270. The relevant Target Market Determination (TMD) is available via www.fidelity.com.au. This document has been prepared without taking into account your objectives, financial situation or needs. You should consider such matters before acting on the information contained in this document. This document may include general commentary on market activity, industry or sector trends or other broad-based economic or political conditions which should not be construed as investment advice. Information stated herein about specific securities is subject to change. Any reference to specific securities should not be construed as a recommendation to buy, sell or hold these securities. While the information contained in this document has been prepared with reasonable care, no responsibility or liability is accepted for any errors or omissions or misstatements however caused. The document may not be reproduced or transmitted without prior written permission of Fidelity Australia. The issuer of Fidelity's funds is FIL Responsible Entity (Australia) Limited ABN 33 148 059 009. References to ($) are in Australian dollars unless stated otherwise. Details of Fidelity Australia’s provision of financial services to retail clients are set out in our Financial Services Guide, a copy of which can be downloaded from our website.

© 2022 FIL Responsible Entity (Australia) Limited. Fidelity, Fidelity International and the Fidelity International logo and F symbol are trademarks of FIL Limited.

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