Monthly Investment Report æ¯æœˆæŠ•è³‡åŒ¯å ±Fidelity Advantage Portfolio ...

Market ReviewAsia Pacific (ex. Japan)Asia Pacific ex Japan equities gained in February on expectations that Chinawill roll out supportive economic policies at an upcoming annual parliamentarysession. All sectors ended in positive territory. Information technology (IT) andhealth care were among the best performers. Materials and energy trackedbase metals, gold and crude oil prices higher. Chinese equities rose on the backof strong gains in the IT and energy sectors. Real estate stocks, however, fellamid reports that some Chinese banks tightened loans to property developersand related sectors to curb rising prices. On the economic front, exports, importsand lending activity rose strongly in January. Services sector growth improved inFebruary, whilst manufacturing activity weakened further. In Hong Kong, propertystocks gained in light of a recovery in secondary market transaction volumes,whilst the gaming sector benefited from solid revenue growth in February.Fourth quarter GDP growth accelerated owing to stronger private consumptionand investment. Furthermore, the unemployment rate fell to a 16-year low inJanuary, and retail sales growth accelerated strongly. South Korean equitiesrose as the government unveiled a three-year economic innovation plan aimedat raising GDP growth potential, employment and per capita income. Taiwaneseand Singaporean equities also ended in positive territory. In Singapore, fourthquarter GDP expanded from the previous quarter, contrary to the contractionreported in the preliminary data release. Meanwhile, the pace of expansionin the Taiwanese manufacturing sector slowed in February after reaching a33-month high in January. Separately, energy, consumer discretionary and ITstocks boosted the Australian market. Retail sales pointed to a further pick-upin consumer spending in December. Building approvals strongly exceededforecasts in January. Recent data showed that business confidence rose abovelong-term average levels and business conditions improved to an almost threeyearhigh. However, worries about future economic conditions hurt consumersentiment and the jobless rate increased to a 10-year high.Indian equities gained. The country’s GDP growth disappointed over theOctober–December period due to weak investment and private consumption.Upbeat earnings in the consumer and property sectors as well as solidremittance by overseas workers buoyed the Philippines market. Indonesianequities rose against the backdrop of a positive trade balance during thelast quarter of 2013 and a rise in foreign exchange reserves. Offsetting weakdomestic demand, the recovery in exports led to strong fourth quarter growthsequentially in Indonesia and Malaysia. The Thai market received support fromlocal investors who favoured stocks offering high dividend yields. Meanwhile,foreign investors remained net sellers amid continued political tensions, whichhurt the domestic economy.JapanThe Japanese market declined for a second consecutive month in February.Economic concerns about the US and China, and rising geopolitical risks inEurope weighed on sentiment. However, the continued underperformance ofJapanese stocks suggested that domestic factors, notably a lack of near-termpolicy action and the prospect of the consumption tax hike in April hurtingspending, were also at work. At a sector level, financials suffered the steepestdeclines, followed by materials and consumer discretionary. Real estate stocks,in particular, fared poorly amid diminishing expectations for additional easingmeasures from the Bank of Japan (BoJ). On the other hand, commodity-related,technology and defensive sectors outperformed. Energy stocks benefited froma pickup in crude oil prices and trading companies gained on expectationsof higher shareholder returns. Larger companies outperformed their smallerpeers, as increased risk avoidance drove a reversal from the previous month.High dividend yield stocks also garnered interest. Overseas investors were netsellers of Japanese stocks through the first three weeks of February, albeit ata significantly reduced rate from the previous month. Individuals were heavybuyers in January, but became modest net sellers. On the currency markets,the yen traded within a relatively narrow range against the US dollar, closingthe month at ¥102/$. Against the euro, the yen declined moderately to around¥141/€.According to preliminary estimates, real GDP grew at an annualised rate of1.0% in the fourth quarter of 2013, coming in short versus consensus forecasts of+2.8%. Domestic demand was firm, supported by strong consumption ahead ofthe April tax hike and a pickup in capital investment. At its monthly policy boardmeeting, the BoJ refrained from implementing further monetary easing, but it didunexpectedly expand its lending support facilities and extend it by 12 months.United StatesUS equities staged a broad rally over the month despite signs of weaknessin the economy and rising tensions over Ukraine. Investors shrugged offdisappointing economic data as being weather-related. Federal Reserve (Fed)Chair Janet Yellen bolstered the market when she stated that harsh weathermay be behind the recent economic weakness in the country. Testifying beforethe Senate Banking Committee, Yellen said the central bank would put itsplans to reduce its bond-buying programme on hold only when “significantchange” to the economy’s prospects became apparent. Meanwhile, the Houseof Representatives agreed to advance legislation that extends the Treasury’sborrowing authority, which further boosted sentiment. Whilst the fourth quarterearnings season as a whole proved stronger than expected, announcementsover the month were mixed. Markets welcomed better-than-expected resultsfrom leading retailers such as Best Buy, Macy’s, Home Depot and JC Penney.In company specific developments, Facebook agreed to buy smartphonemessagingcompany WhatsApp. Elsewhere, Tesla Motors surged after itreported fourth quarter earnings that beat analyst estimates and provided anupbeat 2014 outlook.On the economic front, the Commerce Department lowered its GDP estimate to2.4% for the fourth quarter, from an initial reading of 3.2%. This data came closeon the heels of a string of disappointing economic news, from weak payrollgrowth to sluggish retail sales and industrial production.Continental EuropeEuropean equities rebounded strongly in February on prospects of increasedmonetary stimulus by the European Central Bank (ECB). ECB President MarioDraghi indicated the central bank’s willingness to act if economic dataprojections, which will be released in March, are weaker than expected.However, escalating political tensions in Ukraine curbed further gains in themarket. At a sector level, utilities and health care generated strong returnswhilst telecommunications lagged. The energy and materials sectors alsoperformed well, tracking oil and commodity prices higher. Meanwhile, smalland mid-cap companies outperformed their larger peers and value stocks didbetter than growth companies. Macroeconomic data released during the monthwas positive. The Economic Sentiment Indicator (ESI) for the eurozone continuedto rise, confirming a recovery in the region. The eurozone’s economy grew by0.3% in the final three months of 2013, compared to 0.1% growth in the previousquarter. Germany’s Ifo business climate index also beat expectations, indicatingmomentum in the economic recovery. Meanwhile, the eurozone’s manufacturingPurchasing Managers’ Index (PMI) expanded at a slower-than-expected rate inFebruary, but remained above the 50-mark signalling an expansion. The region’sinflation rate remained stable in February. On the policy front, the ECB kept itsmain interest rate unchanged at 0.25%.United KingdomUK equities rallied strongly, driven by improving economic data in the country.In keeping with the market trend, most sectors ended in positive territory. Oilequipment & services companies, tobacco groups and life insurance companieswere among the major gainers. Mexico-focused gold mining group Fresnilloadvanced the most after a suspension on the use of explosives at its keyHerradura mining operation was lifted. On the downside, the aerospace &defence sector was the weakest performer. This was mainly due to a sharp fall inthe share price of Rolls-Royce. The company warned that profits at its defenceaerospacedivision would decline significantly, primarily owing to a reduction inEuropean and US defence spending. On the economic front, the annual inflationrate, as measured by the Consumer Price Index (CPI), fell to 1.9% in January.On the policy front, the BoE’s policymakers voted unanimously to keep thequantitative easing programme unchanged at £375 billion and maintain interestrates at 0.5%.Emerging MarketsEmerging markets rose in February. Optimism around the approval of a bill toraise the debt limit in the US was enhanced by positive trade data from China.In Asia, Chinese equities rose as liquidity fears in money markets eased andthe country reported robust export figures. South Korean shares gained on theback of the government’s economic reform plans. Markets also shrugged-offa provocative move by North Korea to test its missile capabilities. Meanwhile,Latin American equities rose. Brazilian stocks advanced as its central bankslowed the pace of interest rate increases, signalling that it may end themonetary tightening measures that have hampered consumption and economicgrowth. Shares in Colombia and Peru also followed the broader market higher.However, Mexican stocks declined due to weak economic growth in 2013 and apessimistic outlook for exports to the US. Equities across the Emerging Europe,Middle East and Africa (EMEA) region rose. South African stocks surged on theback of investor expectations that a weak rand will increase exporters’ earningsin the local currency. Equities in Poland gained given the optimism surroundingthe country’s quarterly GDP growth. However, Russian markets were rattled asMoscow’s de-facto seizure of Crimea, Ukraine’s peninsula with a majority ofRussian natives, threatened peace and stability in Europe.On the economic front, Thai economic growth decelerated sharply, compoundingthe problems for a government that is struggling to deal with political protests.However, the Indonesian economy grew at a robust pace in the Decemberquarter, as improving exports mitigated the impact of decelerating growth indomestic consumption. In Latin America, Brazil reported a sharp increase in itsJanuary trade deficit owing to strong imports. Elsewhere, South African GDPgrowth slowed in 2013, indicating weak domestic demand. Meanwhile, Russianindustrial production fell in January.BondFixed income markets posted positive returns, with corporate bondsoutperforming government bonds over the month. High yield corporate bondswas the best performing asset class, helped by the ongoing spread tighteningas investors searched for yield. US Treasuries posted positive returns as weakerthan-expectedeconomic data led to increased demand for the safe-haven assetclass. Retail sales fell unexpectedly in January, declining 0.4% over the month,along with downward revisions to the prior two months’ data. UK governmentbonds (Gilts) advanced, reflecting investors’ risk aversion following the risingtension in Ukraine as well as the weakness in US economic data. However,economic data in the UK remained strong. GDP growth and retail sales werelargely in line with expectations. Inflation fell to 1.9% in January, which wasbelow the BoE’s 2% target rate for the first time in more than four years. InEurope, core and peripheral government bonds, including German bunds andSpanish and Italian government bonds posted positive returns as the prospectof additional stimulus from the ECB boosted demand for these assets. Economicdata, however, remained mixed. Whilst the German business confidence indexunexpectedly strengthened to the highest levels in more than two years, broaderindicators disappointed. For instance, the unemployment rate in the eurozoneremained elevated at 12% in January. Emerging market debt also advanced asinvestors focussed on attractive valuations amid slowing outflows from emergingmarket hard currency bonds.Inflation-linked bonds posted positive returns, but performance against theirnominal counterparts was mixed. Treasury inflation-protected securities (TIPS)outperformed nominal Treasuries as inflation ticked up in January. Inflationlinkedbunds also outperformed as the eurozone’s inflation was higher thanexpected. However, inflation-linked Gilts marginally underperformed nominalGilts as inflation in the UK fell.1Source: Monthly Market Review (February), as at 28/02/2014FIL Limited and its subsidiaries are commonly referred to as Fidelity or Fidelity Worldwide Investment. Fidelity only gives information about its products and services.Any person considering an investment should seek independent advice on the suitability or otherwise of the particular investment. Fidelity, Fidelity WorldwideInvestment, the Fidelity Worldwide Investment logo and F symbol are trademarks of FIL Limited. The material is issued by FIL Investment Management (Hong Kong)Limited.

212221161332121101012201324211021141120131.0%+2.8%412Best BuyMacysHome DepotJC PenneyFacebookWhatsAppTesla Motors20143.2%2.4%2320130.3%0.1%Ifo25020.25%FresnilloHerradura11.9%3,7500.5%220131212013110.4%11.9%2%112%1Monthly Market Review220140228FidelityFidelity Worldwide InvestmentFIL LimitedFidelityFidelity Worldwide InvestmentFidelity Worldwide InvestmentFFIL Limited2

Performance Summary Fidelity Advantage Portfolio Fund (FAP Fund) As at 28/2/2014Name of FundCurrencyShare ClassYTDFund Cumulative Performance %3 Months31 Year13 Years35 Years510 Years10Annual Performance %2009 2010 2011 2012 2013Equity Funds Asia Pacific Equity FundUSDOrdinary 1.37 -0.05 0.05 12.43 154.51 -80.90 14.27 -15.48 22.40 3.73Administration 1.27 -0.19 -0.43 10.93 148.80 -79.96 13.79 -15.90 21.92 3.23Global Equity FundUSDOrdinary Administration 1.26 3.56 21.61 29.30 140.95 96.621.18 3.45 21.04 27.57 135.52 87.9032.39 12.82 -10.15 17.59 25.6031.77 12.26 -10.50 17.07 25.00Hong Kong Equity FundHKDOrdinary Administration -2.03 -3.21 3.38 3.22 100.29 156.35-2.10 -3.32 2.91 1.83 95.84 145.0864.83 11.23 -21.74 21.45 8.3764.09 10.73 -22.09 20.90 7.89Lifecycle Funds Balanced FundUSDOrdinary Administration 0.18 0.60 10.67 16.34 96.94 114.930.08 0.48 10.19 14.79 92.56 105.5034.50 10.25 -9.84 15.16 13.4033.86 9.79 -10.26 14.65 12.90Capital Stable FundUSDOrdinary Administration 1.17 1.14 5.96 13.39 58.44 78.681.06 1.00 5.48 11.82 54.89 70.8118.35 7.12 -1.72 9.49 5.1117.77 6.66 -2.18 9.01 4.67Growth FundUSDOrdinary Administration -0.37 0.27 13.07 17.39 117.39 130.64-0.43 0.16 12.58 15.84 112.50 120.5642.66 11.71 -13.78 17.79 17.8642.00 11.20 -14.15 17.26 17.32Stable Growth FundUSDOrdinary Administration 0.70 0.90 8.35 15.35 78.47 97.880.65 0.78 7.89 13.80 74.53 89.1126.41 8.91 -5.69 12.52 9.1925.85 8.45 -6.10 11.97 8.70Bond Funds Hong Kong Bond FundHKDOrdinary Administration 0.89 0.26 -1.51 7.91 16.42 29.980.82 0.15 -1.96 6.46 13.84 24.231.38 4.23 5.63 4.64 -2.780.93 3.76 5.15 4.17 -3.21World Bond FundUSDOrdinary Administration 2.48 2.03 2.81 13.38 40.24 55.712.40 1.93 2.33 11.81 37.09 48.797.06 5.77 6.44 6.19 -1.576.58 5.25 6.01 5.74 -2.03Money Market Funds HK Dollar Money FundHKDOrdinary Administration 0.00 0.00 0.00 0.09 0.12 12.330.00 0.00 0.00 0.09 -0.05 10.200.14 0.00 0.00 0.09 0.00-0.08 -0.02 0.00 0.09 0.00US Dollar Money FundUSDOrdinary Administration 0.00 0.00 0.06 0.18 0.31 17.360.00 0.00 0.06 0.19 0.32 17.420.31 0.00 0.00 0.12 0.060.32 0.00 0.00 0.13 0.06Supermarket Funds FAP Fund -Invesco Asian Equity FundUSDOrdinary Administration -1.65 -1.48 5.12 13.78 154.20 --1.71 -1.60 4.65 12.28 148.73 -69.11 22.45 -17.00 21.17 10.3168.30 21.91 -17.39 20.66 9.79FAP Fund -Tracker Fund PortfolioHKDOrdinary Administration -2.08 -4.69 1.42 4.71 94.67 --2.16 -4.80 0.95 3.32 90.40 -52.57 6.60 -18.00 25.81 5.0752.02 6.02 -18.35 25.30 4.58Source: Fidelity, NAV to NAV, based on denominated currency 3Investment involves risks. Past performance is not indicative of future performance. Please refer to the Explanatory Memorandum of Fidelity Advantage Portfolio Fund for further details including the risk factors.This material is issued by FIL Investment Management (Hong Kong) Limited and has not been reviewed by the Securities and Futures Commission (“SFC).

Fidelity Advantage Portfolio Fund - Asia Pacific Equity Fund富 達 優 越 投 資 組 合 基 金 - 亞 太 股 票 基 金As of 28/02/2014Fund Descriptor 基 金 描 述Equity Fund - Asia PacificInvestment Objective 投 資 目 標The objective of the Asia Pacific Equity Fund is to producereturns related to those achieved on the major stockmarket indices of Asia Pacific. The Asia Pacific EquityFund is a feeder fund that invests in the Asia Pacific EquityFund, a sub-fund of the Fidelity Global Investment Fund(FGIF).Fund Details 基 金 資 料Fund Manager David UrquhartLaunch Date Ordinary 24/07/2006Administration 24/07/2006Savings 24/07/2006Unit NAV Ordinary Administration Savings Fund Size US$21.43US$20.70US$20.63US$92.42MRisk Indicator (3-Year Standard Deviation) † 19.26% †Fund Commentary^ 基 金 評 論^Asia Pacific ex Japan stocks rose over the quarter. Ongoingimprovements in global growth and bold reforms measuresunveiled in China provided support. However, investorsworried about the impact of any reduction in the US FederalReserve’s stimulus programme. Growth in China rose overthe third quarter as stimulus measures supported domesticdemand. Private consumption and investment led to betterthan-anticipatedgrowth in Korea, whilst Australian economicactivity stayed below trend. Central banks in India andIndonesia raised interest rates amid inflationary pressures,but the Bank of Thailand cut rates to boost growth. At asector level, information technology (IT), utilities, consumerdiscretionary and industrials gained, whilst telecommunicationsand energy declined. Real estate stocks fell amid a rise ingovernment bond yields and volatility in China’s interbankinterest rates. The fund delivered positive returns owing torewarding security selection in IT. Memory chipmaker SKHynix boosted returns as it is likely to benefit from improveddemand in developed economies. Tencent advanced as theChina-based internet company recorded solid growth in itsonline gaming business. Utilities and consumer discretionarystocks also added value. Gas distributor China Resources Gasenhanced gains as the Chinese government outlined reformsthat are likely to foster clean energy usage and improvethe pricing mechanism. Additionally, automaker Tata motorssupported returns in light of healthy sales growth at its JaguarLand Rover unit. Conversely, selected real estate and insurancecompanies disappointed. Indonesian property developerCiputra Development fell amid rising interest rates. Shares inQBE Insurance slid as the Australian company issued negativeearnings guidance following the poor performance of somerecent US acquisitions. SKSK Hynix Jaguar Land Rover Ciputra DevelopmentQBE InsuranceFund Performance 基 金 表 現Cumulative Performance YTD 3 Months 1 Year 3 Years 5 Years 10 Years Since Launch累 積 表 現 3 1 3 5 10 Ordinary 1.37% -0.05% 0.05% 12.43% 154.51% - 114.30%Administration 1.27% -0.19% -0.43% 10.93% 148.80% - 107.00%Savings 1.28% -0.15% -0.43% 10.79% 148.26% - 106.30%Dollar Cost Averaging Return 11平 均 成 本 法 回 報Ordinary N/A N/A 3.45% 11.06% 23.94% - 38.68%Administration N/A N/A 3.16% 10.24% 22.36% - 36.01%Savings N/A N/A 3.16% 10.19% 22.23% - 35.78%Cumulative Performance (Ordinary Class)累 積 表 現 ( 一 般 單 位 )Price Index價 格 指 數 (%)220200180160140120100806007/06 07/07 07/08 07/09 07/10 07/11 07/12 07/13Top 10 Holdings 十 大 主 要 投 資 項 目SAMSUNG ELECTRONICS CO LTD 5.73%TENCENT HOLDINGS LIMITED 5.72%AUSTRALIA & NZ BANKING GRP 4.81%BHP BILLITON LTD 4.15%WESTPAC BANKING CORP LTD3.93%SK HYNIX INC 3.32%LARGAN PRECISION CO LTD 2.57%CHINA CONSTRUCTION BANK CORP H SHRS H 2.50%HYUNDAI MOTOR CO 2.40%TECHTRONIC INDUSTRIES CO LTD 2.38%TOTAL 37.51%Industry Breakdown 行 業 投 資 分 佈30.6% Financials 金 融17.7% Consumer Goods消 費 品13.9% Technology 科 技7.2% Consumer Services消 費 服 務6.2% Oil & Gas石 油 及 天 然 氣5.6% Industrials 工 業5.1% Health Care健 康 護 理13.7% Others* 其 他 ** Others may include cash, account payables, accountreceivables and/or other industries. / / Fund Fund 基 金Annual Performance 年 度 表 現Ordinary Administration Savings一 般 單 位 行 政 管 理 單 位 退 休 儲 蓄 單 位2013 3.73% 3.23% 3.19%2012 22.40% 21.92% 21.85%2011 -15.48% -15.90% -15.93%2010 14.27% 13.79% 13.75%2009 80.90% 79.96% 80.02%2008 -44.17% -44.40% -44.48%2007 38.44% 37.89% 37.80%2006 23.30% ~ 23.00% ~ 23.00% ~~ Since launch date to the end of launch yearGeographical Breakdown 國 家 投 資 分 佈AUSTRALIA 22.4%CHINA 22.3%KOREA (SOUTH) 18.7%HONG KONG 8.0%TAIWAN 7.4%INDIA 6.8%SINGAPORE 5.0%CASH & OTHERS # # 9.4%#May include cash, account payables and account receivables.^ as of 31/12/2013 31/12/2013† This is referring to the Risk Indicator of Ordinary Class.1 This is the return achieved through investing the same amount atthe end of each month, comparing the total contributions with theircurrent value and expressing the gain or loss as a percentage. Source:Gadbury Group Limited / Gadbury Group LimitedSource: Fidelity/HSBC Institutional Trust Services (Asia) Ltd., NAV toNAV, in USD. / Fidelity InvestorHotline富 達 投 資 熱 線(852) 2629 2629www.fidelity.com.hkInvestment involves risks. Past performance is not indicative of future performance. Please refer to the Explanatory Memorandum of Fidelity Advantage Portfolio Fund for further information including the riskfactors. Investment in the Global Equity Fund, the Growth Fund, the Balanced Fund, the Stable Growth Fund and the Capital Stable Fund (“Restricted Offering Funds”) of the Fidelity Advantage Portfolio Fund is notavailable to the general investing public. Investments in the Restricted Offering Funds are available only to Professional Investors, ORSO and MPF retirement schemes, their related Approved Pooled InvestmentFunds, or those individuals who have recently been or still are members of an ORSO or MPF retirement scheme. If you are an individual retail investor who is not a Professional Investor or current or former memberof an ORSO or MPF retirement scheme wishing to invest your accrued benefits and want to invest in Fidelity managed funds, please contact Fidelity for further details about which specific investment funds areavailable to the general investing public. FIL Limited and its subsidiaries are commonly referred to as Fidelity or Fidelity Worldwide Investment. Fidelity only gives information about its products and services.Fidelity, Fidelity Worldwide Investment, the Fidelity Worldwide Investment logo and F symbol are trademarks of FIL Limited. This material is issued by FIL Investment Management (Hong Kong) Limited and has notbeen reviewed by the Securities and Futures Commission (“SFC”). Fidelity Fidelity Worldwide Investment FIL Limited FidelityFidelity Worldwide InvestmentFidelity Worldwide Investment F FIL Limited 4

Fidelity Advantage Portfolio Fund - Balanced Fund富 達 優 越 投 資 組 合 基 金 - 均 衡 基 金As of 28/02/2014Fund Descriptor 基 金 描 述Mixed Assets Fund - Global with around 70% in equitiesand 30% in bonds and cash 70% 30%Investment Objective 投 資 目 標The Fund will normally maintain a balanced, globalportfolio of bond funds and equity funds with the aim ofachieving a consistent overall return higher than HongKong inflation but with lower risk and volatility than theGrowth Fund.Fund Details 基 金 資 料Fund Manager Pek Ng Launch Date Ordinary 16/01/1995Administration 16/01/1995Savings 15/03/2002Unit NAV Ordinary Administration Savings Fund Size US$38.58US$35.47US$35.27US$1,376.44MRisk Indicator (3-Year Standard Deviation) † 12.30% †Fund Commentary^ 基 金 評 論^Global equities advanced over the quarter. The US FederalReserve announced a modest reduction in the pace of monthlybond purchases starting 2014, but tempered its impact bysignalling that short-term interest rates could remain near-zerofor longer than it had previously suggested. Meanwhile, positiveeconomic data from China and early signs of recovery in Europeaided stock markets. US equities rose and European marketsadvanced on strong economic data releases in the region.The Japanese market ended the year at its highest level sinceAugust 2008. Asia Pacific equities also rose. Meanwhile, bondmarkets saw some outflows. The allocation to European equitieswas increased given the further recovery in peripheral Europe.The region is expected to return to growth in 2014. Equities haverisen sharply in recent months, but valuations remain attractivecompared to long-term averages and other asset classes. Theexposure to US equities was also increased, largely due tobroadening economic growth. The economy is expected to benefitfrom the growing output of shale gas, which is a low-cost sourceof energy. Meanwhile, the exposure to Japan was reduced.Following the aggressive monetary stimulus, investors await themore challenging implementation of “structural” reforms that willfurther support Japan’s economic revival. Improving growth inglobal economies bodes well for Asia Pacific economies. However,the exposure to the region was reduced in anticipation of marketvolatility in the shorter term. The allocation to global bonds waslowered in favour of US dollar money market securities. 2014 2008 8 2014 Fund Performance 基 金 表 現Cumulative Performance YTD 3 Months 1 Year 3 Years 5 Years 10 Years Since Launch累 積 表 現 3 1 3 5 10 Ordinary 0.18% 0.60% 10.67% 16.34% 96.94% 114.93% 285.80%Administration 0.08% 0.48% 10.19% 14.79% 92.56% 105.50% 254.70%Savings 0.09% 0.46% 10.12% 14.62% 92.10% 104.46% 152.47%Dollar Cost Averaging Return 11平 均 成 本 法 回 報Ordinary N/A N/A 6.44% 15.91% 25.37% 47.26% 79.82%Administration N/A N/A 6.18% 15.09% 23.86% 43.59% 73.22%Savings N/A N/A 6.15% 15.00% 23.69% 43.20% 61.31%Cumulative Performance (Ordinary Class)累 積 表 現 ( 一 般 單 位 )Price Index價 格 指 數 (%)2602201801401006001/01 01/03 01/05 01/07 01/09 01/11 01/13Top 10 Holdings 十 大 主 要 投 資 項 目HSBC HOLDINGS PLC 2.67%TENCENT HOLDINGS LIMITED 2.23%GERMANY GOVT 1.75% 04/07/2022 1.75% 04/07/20221.31%GERMANY OBL 168 1% 22/02/2019 1.30%AIA GROUP LTD 1.29%INDUSTRIAL & COM BK OF CHINA H SHRS H 1.15%CHINA CONSTRUCTION BANK CORP H SHRS H 1.04%HUTCHISON WHAMPOA LTD 0.93%BANK OF CHINA LTD H SHRS H 0.75%USTN 1.5% 31/12/2018 1.5% 31/12/2018 0.72%TOTAL 13.39%Fund 基 金Annual Performance 年 度 表 現Ordinary Administration Savings一 般 單 位 行 政 管 理 單 位 退 休 儲 蓄 單 位2013 13.40% 12.90% 12.84%2012 15.16% 14.65% 14.61%2011 -9.84% -10.26% -10.30%2010 10.25% 9.79% 9.71%2009 34.50% 33.86% 33.83%2008 -31.68% -31.98% -32.03%2007 24.58% 23.96% 23.94%2006 20.17% 19.69% 19.57%2005 9.77% 9.24% 9.20%Fund Allocation by Asset Class 資 產 類 別 投 資 分 配HONG KONG EQUITY FUND 24.36%JAPANESE EQUITY FUND 9.02%ASIA PACIFIC EQUITY FUND* * 9.43%AMERICAS EQUITY FUND 15.97%EUROPEAN EQUITY FUND 15.73%GLOBAL BOND FUND 19.30%HONG KONG BOND FUND 0.79%US$ MONEY FUND 5.54%CASH & OTHERS # # -0.14%* May include investments in Japan and Hong Kong.#May include cash, account payables and account receivables.^ as of 31/12/2013 31/12/2013† This is referring to the Risk Indicator of Ordinary Class.1 This is the return achieved through investing the same amount atthe end of each month, comparing the total contributions with theircurrent value and expressing the gain or loss as a percentage. Source:Gadbury Group Limited / Gadbury Group LimitedSource: Fidelity/HSBC Institutional Trust Services (Asia) Ltd., NAV toNAV, in USD. / Fidelity InvestorHotline富 達 投 資 熱 線(852) 2629 2629www.fidelity.com.hk7Investment involves risks. Past performance is not indicative of future performance. Please refer to the Explanatory Memorandum of Fidelity Advantage Portfolio Fund for further information including the riskfactors. Investment in the Global Equity Fund, the Growth Fund, the Balanced Fund, the Stable Growth Fund and the Capital Stable Fund (“Restricted Offering Funds”) of the Fidelity Advantage Portfolio Fund is notavailable to the general investing public. Investments in the Restricted Offering Funds are available only to Professional Investors, ORSO and MPF retirement schemes, their related Approved Pooled InvestmentFunds, or those individuals who have recently been or still are members of an ORSO or MPF retirement scheme. If you are an individual retail investor who is not a Professional Investor or current or former memberof an ORSO or MPF retirement scheme wishing to invest your accrued benefits and want to invest in Fidelity managed funds, please contact Fidelity for further details about which specific investment funds areavailable to the general investing public. FIL Limited and its subsidiaries are commonly referred to as Fidelity or Fidelity Worldwide Investment. Fidelity only gives information about its products and services.Fidelity, Fidelity Worldwide Investment, the Fidelity Worldwide Investment logo and F symbol are trademarks of FIL Limited. This material is issued by FIL Investment Management (Hong Kong) Limited and has notbeen reviewed by the Securities and Futures Commission (“SFC”). Fidelity Fidelity Worldwide Investment FIL Limited FidelityFidelity Worldwide InvestmentFidelity Worldwide Investment F FIL Limited

Fidelity Advantage Portfolio Fund - Capital Stable Fund富 達 優 越 投 資 組 合 基 金 - 資 本 穩 定 基 金As of 28/02/2014Fund Descriptor 基 金 描 述Mixed Assets Fund - Global with around 30% in equitiesand 70% in bonds and cash 30% 70%Investment Objective 投 資 目 標The Fund will invest primarily in money market funds andglobal bond funds with the aim of achieving a stablelevel of return, minimising volatility whilst achieving somecapital appreciation at low risk.Fund Details 基 金 資 料Fund Manager Pek Ng Launch Date Ordinary 16/01/1995Administration 16/01/1995Savings 15/03/2002Unit NAV Ordinary Administration Savings Fund Size US$32.02US$29.43US$29.26US$434.28MRisk Indicator (3-Year Standard Deviation) † 6.99% †Fund Commentary^ 基 金 評 論^Global equities advanced over the quarter. The US Federal Reserveannounced a modest reduction in the pace of monthly bondpurchases starting 2014, but tempered its impact by signallingthat short-term interest rates could remain near-zero for longerthan it had previously suggested. Meanwhile, positive economicdata from China and early signs of recovery in Europe aidedstock markets. US equities rose and European markets advancedon strong economic data releases in the region. The Japanesemarket ended the year at its highest level since August 2008. AsiaPacific equities also rose. Meanwhile, bond markets saw someoutflows. The allocation to European equities was increased giventhe further recovery in peripheral Europe. The region is expectedto return to growth in 2014. Equities have risen sharply in recentmonths, but valuations remain attractive compared to long-termaverages and other asset classes. The exposure to US equities wasalso increased, largely due to broadening economic growth. Theeconomy is expected to benefit from the growing output of shalegas, which is a low-cost source of energy. Meanwhile, the exposureto Japan was reduced. Following the aggressive monetary stimulus,investors await the more challenging implementation of “structural”reforms that will further support Japan’s economic revival.Improving growth in global economies bodes well for Asia Pacificeconomies. However, the exposure to the region was reduced inanticipation of market volatility in the shorter term. The allocationto global bonds was lowered in favour of US dollar money marketsecurities.2014200882014Fund Performance 基 金 表 現Cumulative Performance YTD 3 Months 1 Year 3 Years 5 Years 10 Years Since Launch累 積 表 現 3 1 3 5 10 Ordinary 1.17% 1.14% 5.96% 13.39% 58.44% 78.68% 220.20%Administration 1.06% 1.00% 5.48% 11.82% 54.89% 70.81% 194.30%Savings 1.07% 1.00% 5.44% 11.68% 54.49% 69.92% 113.58%Dollar Cost Averaging Return 11平 均 成 本 法 回 報Ordinary N/A N/A 4.18% 9.13% 16.30% 34.79% 58.90%Administration N/A N/A 3.91% 8.35% 14.90% 31.48% 53.16%Savings N/A N/A 3.90% 8.29% 14.76% 31.13% 42.18%Cumulative Performance (Ordinary Class)累 積 表 現 ( 一 般 單 位 )Price Index價 格 指 數 (%)2202001801601401201009001/01 01/03 01/05 01/07 01/09 01/11 01/13Top 10 Holdings 十 大 主 要 投 資 項 目GERMANY GOVT 1.75% 04/07/2022 1.75% 04/07/20223.46%GERMANY OBL 168 1% 22/02/2019 3.42%USTN 1.5% 31/12/2018 1.5% 31/12/20181.88%FRANCE OAT 3% 25/04/2022 3% 25/04/20221.55%BUONI POLIEN DEL 2.75% 15/11/2016 1.38%USTN 0.25% 15/08/2015 0.25% 15/08/20151.38%GERMANY GOVT 1.75% 15/02/2024 1.75% 15/02/20141.25%POLAND GOVT BOND 2.5% 25/07/2018 1.21%HSBC HOLDINGS PLC 1.15%FRANCE BTAN 1% 25/07/2017 1.14%TOTAL 17.82%Fund 基 金Annual Performance 年 度 表 現Ordinary Administration Savings一 般 單 位 行 政 管 理 單 位 退 休 儲 蓄 單 位2013 5.11% 4.67% 4.63%2012 9.49% 9.01% 8.94%2011 -1.72% -2.18% -2.23%2010 7.12% 6.66% 6.61%2009 18.35% 17.77% 17.73%2008 -13.04% -13.39% -13.43%2007 15.15% 14.63% 14.57%2006 11.82% 11.28% 11.25%2005 1.60% 1.18% 1.08%Fund Allocation by Asset Class 資 產 類 別 投 資 分 配HONG KONG EQUITY FUND 10.17%JAPANESE EQUITY FUND 4.35%ASIA PACIFIC EQUITY FUND* * 4.36%AMERICAS EQUITY FUND 7.98%EUROPEAN EQUITY FUND 7.60%GLOBAL BOND FUND 50.84%HONG KONG BOND FUND 4.36%HK$ MONEY FUND 0.65%US$ MONEY FUND 9.81%CASH & OTHERS # # -0.12%* May include investments in Japan and Hong Kong.#May include cash, account payables and account receivables.^ as of 31/12/2013 31/12/2013† This is referring to the Risk Indicator of Ordinary Class.1 This is the return achieved through investing the same amount atthe end of each month, comparing the total contributions with theircurrent value and expressing the gain or loss as a percentage. Source:Gadbury Group Limited / Gadbury Group LimitedSource: Fidelity/HSBC Institutional Trust Services (Asia) Ltd., NAV to NAV,in USD. / Fidelity InvestorHotline富 達 投 資 熱 線(852) 2629 2629www.fidelity.com.hkInvestment involves risks. Past performance is not indicative of future performance. Please refer to the Explanatory Memorandum of Fidelity Advantage Portfolio Fund for further information including the riskfactors. Investment in the Global Equity Fund, the Growth Fund, the Balanced Fund, the Stable Growth Fund and the Capital Stable Fund (“Restricted Offering Funds”) of the Fidelity Advantage Portfolio Fund is notavailable to the general investing public. Investments in the Restricted Offering Funds are available only to Professional Investors, ORSO and MPF retirement schemes, their related Approved Pooled InvestmentFunds, or those individuals who have recently been or still are members of an ORSO or MPF retirement scheme. If you are an individual retail investor who is not a Professional Investor or current or former memberof an ORSO or MPF retirement scheme wishing to invest your accrued benefits and want to invest in Fidelity managed funds, please contact Fidelity for further details about which specific investment funds areavailable to the general investing public. FIL Limited and its subsidiaries are commonly referred to as Fidelity or Fidelity Worldwide Investment. Fidelity only gives information about its products and services.Fidelity, Fidelity Worldwide Investment, the Fidelity Worldwide Investment logo and F symbol are trademarks of FIL Limited. This material is issued by FIL Investment Management (Hong Kong) Limited and has notbeen reviewed by the Securities and Futures Commission (“SFC”). Fidelity Fidelity Worldwide Investment FIL Limited FidelityFidelity Worldwide InvestmentFidelity Worldwide Investment F FIL Limited 8

Fidelity Advantage Portfolio Fund - Growth Fund富 達 優 越 投 資 組 合 基 金 - 增 長 基 金As of 28/02/2014Fund Descriptor 基 金 描 述Mixed Assets Fund - Global with around 90% in equitiesand 10% in bonds and cash 90% 10%Investment Objective 投 資 目 標The Fund will be mainly invested in equity funds, with ageographical bias towards Hong Kong with the aim ofmaximising long-term returns.Fund Details 基 金 資 料Fund Manager Pek Ng Launch Date Ordinary 16/01/1995Administration 16/01/1995Savings 15/03/2002Unit NAV Ordinary Administration Savings Fund Size US$40.50US$37.23US$37.02US$1,108.68MRisk Indicator (3-Year Standard Deviation) † 15.01% †Fund Commentary^ 基 金 評 論^Global equities advanced over the quarter. The US Federal Reserveannounced a modest reduction in the pace of monthly bondpurchases starting 2014, but tempered its impact by signallingthat short-term interest rates could remain near-zero for longerthan it had previously suggested. Meanwhile, positive economicdata from China and early signs of recovery in Europe aidedstock markets. US equities rose and European markets advancedon strong economic data releases in the region. The Japanesemarket ended the year at its highest level since August 2008. AsiaPacific equities also rose. Meanwhile, bond markets saw someoutflows. The allocation to European equities was increased giventhe further recovery in peripheral Europe. The region is expectedto return to growth in 2014. Equities have risen sharply in recentmonths, but valuations remain attractive compared to long-termaverages and other asset classes. The exposure to US equities wasalso increased, largely due to broadening economic growth. Theeconomy is expected to benefit from the growing output of shalegas, which is a low-cost source of energy. Meanwhile, the exposureto Japan was reduced. Following the aggressive monetary stimulus,investors await the more challenging implementation of “structural”reforms that will further support Japan’s economic revival.Improving growth in global economies bodes well for Asia Pacificeconomies. However, the exposure to the region was reduced inanticipation of market volatility in the shorter term. The allocationto global bonds was lowered in favour of US dollar money marketsecurities.2014200882014Fund Performance 基 金 表 現Cumulative Performance YTD 3 Months 1 Year 3 Years 5 Years 10 Years Since Launch累 積 表 現 3 1 3 5 10 Ordinary -0.37% 0.27% 13.07% 17.39% 117.39% 130.64% 305.00%Administration -0.43% 0.16% 12.58% 15.84% 112.50% 120.56% 272.30%Savings -0.43% 0.16% 12.52% 15.65% 112.03% 119.44% 166.52%Dollar Cost Averaging Return 11平 均 成 本 法 回 報Ordinary N/A N/A 7.50% 19.33% 29.79% 52.31% 88.21%Administration N/A N/A 7.25% 18.49% 28.22% 48.52% 81.31%Savings N/A N/A 7.23% 18.42% 28.06% 48.13% 69.70%Cumulative Performance (Ordinary Class)累 積 表 現 ( 一 般 單 位 )Price Index價 格 指 數 (%)2602201801401006001/01 01/03 01/05 01/07 01/09 01/11 01/13Top 10 Holdings 十 大 主 要 投 資 項 目HSBC HOLDINGS PLC 3.35%TENCENT HOLDINGS LIMITED 2.83%AIA GROUP LTD 1.61%INDUSTRIAL & COM BK OF CHINA H SHRS H 1.44%CHINA CONSTRUCTION BANK CORP H SHRS H 1.32%HUTCHISON WHAMPOA LTD 1.17%BANK OF CHINA LTD H SHRS H 0.93%TOYOTA MOTOR CORP 0.86%CHINA PETROL & CHEM CORP H H 0.84%CHINA LIFE INSURANCE CO H SHRS H 0.81%TOTAL 15.16%Fund 基 金Annual Performance 年 度 表 現Ordinary Administration Savings一 般 單 位 行 政 管 理 單 位 退 休 儲 蓄 單 位2013 17.86% 17.32% 17.25%2012 17.79% 17.26% 17.23%2011 -13.78% -14.15% -14.21%2010 11.71% 11.20% 11.14%2009 42.66% 42.00% 41.92%2008 -39.77% -40.02% -40.04%2007 29.22% 28.63% 28.58%2006 24.34% 23.76% 23.71%2005 13.98% 13.45% 13.42%Fund Allocation by Asset Class 資 產 類 別 投 資 分 配HONG KONG EQUITY FUND 30.42%JAPANESE EQUITY FUND 11.99%ASIA PACIFIC EQUITY FUND* * 12.45%AMERICAS EQUITY FUND 19.90%EUROPEAN EQUITY FUND 19.75%GLOBAL BOND FUND 2.14%HONG KONG BOND FUND 0.16%HK$ MONEY FUND 0.33%US$ MONEY FUND 3.01%CASH & OTHERS # # -0.15%* May include investments in Japan and Hong Kong.#May include cash, account payables and account receivables.^ as of 31/12/2013 31/12/2013† This is referring to the Risk Indicator of Ordinary Class.1 This is the return achieved through investing the same amount atthe end of each month, comparing the total contributions with theircurrent value and expressing the gain or loss as a percentage. Source:Gadbury Group Limited / Gadbury Group LimitedSource: Fidelity/HSBC Institutional Trust Services (Asia) Ltd., NAV to NAV,in USD. / Fidelity InvestorHotline富 達 投 資 熱 線(852) 2629 2629www.fidelity.com.hk9Investment involves risks. Past performance is not indicative of future performance. Please refer to the Explanatory Memorandum of Fidelity Advantage Portfolio Fund for further information including the riskfactors. Investment in the Global Equity Fund, the Growth Fund, the Balanced Fund, the Stable Growth Fund and the Capital Stable Fund (“Restricted Offering Funds”) of the Fidelity Advantage Portfolio Fund is notavailable to the general investing public. Investments in the Restricted Offering Funds are available only to Professional Investors, ORSO and MPF retirement schemes, their related Approved Pooled InvestmentFunds, or those individuals who have recently been or still are members of an ORSO or MPF retirement scheme. If you are an individual retail investor who is not a Professional Investor or current or former memberof an ORSO or MPF retirement scheme wishing to invest your accrued benefits and want to invest in Fidelity managed funds, please contact Fidelity for further details about which specific investment funds areavailable to the general investing public. FIL Limited and its subsidiaries are commonly referred to as Fidelity or Fidelity Worldwide Investment. Fidelity only gives information about its products and services.Fidelity, Fidelity Worldwide Investment, the Fidelity Worldwide Investment logo and F symbol are trademarks of FIL Limited. This material is issued by FIL Investment Management (Hong Kong) Limited and has notbeen reviewed by the Securities and Futures Commission (“SFC”). Fidelity Fidelity Worldwide Investment FIL Limited FidelityFidelity Worldwide InvestmentFidelity Worldwide Investment F FIL Limited

Fidelity Advantage Portfolio Fund - World Bond Fund富 達 優 越 投 資 組 合 基 金 - 國 際 債 券 基 金As of 28/02/2014Fund Descriptor 基 金 描 述Bond Fund - GlobalInvestment Objective 投 資 目 標The objective of the Fund is to produce returns that arerelated to those achieved on the major bond marketindices. The World Bond Fund is a feeder fund that investsin the Global Bond Fund, a sub fund of the Fidelity GlobalInvestment Fund (FGIF). – Fund Details 基 金 資 料Fund Manager Rick PatelLaunch Date Ordinary 30/06/2003Administration 30/06/2003Savings 30/06/2003Unit NAV Ordinary Administration Savings Fund Size US$16.10US$15.34US$15.27US$49.61MRisk Indicator (3-Year Standard Deviation) † 5.05% †Modified Duration Fund 5.99 YearYield to Maturity 1.76%Fund Commentary^ 基 金 評 論^Fixed income markets had another volatile quarter amidconcerns that the US Federal Reserve (Fed) will taper itsmonetary policy. Overall, corporate bonds outperformedgovernment bonds as credit spreads tightened. High yieldwas the best performing asset class as investors continuedtheir search for yield. US Treasuries and other governmentbonds such as UK government bonds (Gilts) and Germanbunds fell over the quarter as global economic data remainedstrong. As the US economy improved, the Fed said that it willreduce its monthly bond purchases by $10 billion beginning inJanuary 2014. However, the Fed signalled that interest ratesare unlikely to increase until well after the unemploymentrate declines to 6.5%. As a result, the rise in bond yields hasbeen moderate. Meanwhile, the European Central Bankunexpectedly lowered its benchmark interest rate by 0.25%.Elsewhere, emerging market hard currency debt generatedmarginally positive returns over the quarter on the back ofcoupon income. However, emerging market local currencygovernment bonds generated negative returns as the US dollarstrengthened and local yields rose in line with US Treasuries.The fund delivered positive returns over the quarter. In credit,the overweight stance in financials supported performance, asdid favourable selection in the technology and communicationssector. Meanwhile, the fund’s interest rate strategies hurtperformance. For instance, the long duration position (whereinthe portfolio is more sensitive to interest rate changes than theindex) in USD disappointed as US Treasuries posted losses.Overall, the fund’s short duration position was increased overthe period. Within credit, the overweight stance in banks andconsumer non-cyclical was increased, whilst the exposure to thecommunications and energy sectors was reduced. 201411006.5%0.25% Fund Performance 基 金 表 現Cumulative Performance YTD 3 Months 1 Year 3 Years 5 Years 10 Years Since Launch累 積 表 現 3 1 3 5 10 Ordinary 2.48% 2.03% 2.81% 13.38% 40.24% 55.71% 61.00%Administration 2.40% 1.93% 2.33% 11.81% 37.09% 48.79% 53.40%Savings 2.41% 1.87% 2.28% 11.62% 36.83% 48.11% 52.70%Dollar Cost Averaging Return 11平 均 成 本 法 回 報Ordinary N/A N/A 2.94% 4.84% 11.55% 27.88% 30.08%Administration N/A N/A 2.68% 4.10% 10.21% 24.77% 26.70%Savings N/A N/A 2.64% 4.00% 10.06% 24.43% 26.33%Cumulative Performance (Ordinary Class)累 積 表 現 ( 一 般 單 位 )Price Index價 格 指 數 (%)160150140130120110100908006/03 06/05 06/07 06/09 06/11 06/13Top 10 Holdings 十 大 主 要 投 資 項 目GERMANY GOVT 1.75% 04/07/2022 1.75% 04/07/20226.81%GERMANY OBL 168 1% 22/02/2019 6.73%USTN 1.5% 31/12/2018 1.5% 31/12/20183.71%FRANCE OAT 3% 25/04/2022 3% 25/04/20223.05%BUONI POLIEN DEL 2.75% 15/11/2016 2.72%USTN 0.25% 15/08/2015 0.25% 15/08/20152.71%GERMANY GOVT 1.75% 15/02/2024 1.75% 15/02/20142.46%POLAND GOVT BOND 2.5% 25/07/2018 2.39%FRANCE BTAN 1% 25/07/2017 2.24%USTN 0.875% 31/01/2017 0.875% 31/01/20172.04%TOTAL 34.86%Industry Breakdown 行 業 投 資 分 佈72.1% Treasury 國 庫 券8.0% Financial 金 融7.7% Industrial 工 業2.0% Securitised 証 券 化1.4% Quasi/Sov/Supra/Agncy半 政 府 / 主 權 / 超 國 家 /機 構 債 券8.8% Others* 其 他 ** Others may include cash, account payables, accountreceivables and/or other industriesFund 基 金Annual Performance 年 度 表 現Ordinary Administration Savings一 般 單 位 行 政 管 理 單 位 退 休 儲 蓄 單 位2013 -1.57% -2.03% -2.10%2012 6.19% 5.74% 5.69%2011 6.44% 6.01% 5.96%2010 5.77% 5.25% 5.18%2009 7.06% 6.58% 6.51%2008 3.57% 3.05% 3.06%2007 8.57% 8.16% 8.07%2006 5.52% 5.00% 4.91%2005 -7.16% -7.64% -7.64%Currency Breakdown 貨 幣 分 佈EUROPEAN MONETARY UNIT (EURO) 41.0%US DOLLAR 33.0%JAPANESE YEN 10.4%UK POUND 7.1%CANADIAN DOLLAR 2.0%OTHERS 6.5%S&P/Moody's Credit Ratings 標 準 普 爾 / 穆 廸 信 用 評 級AAA/Aaa 23.1%AA/Aa 34.7%A 15.0%BBB/Baa 19.2%Others* * 8.0%* Others may include cash, account payables, account receivables and/or not rated.^ as of 31/12/2013 31/12/2013† This is referring to the Risk Indicator of Ordinary Class.1 This is the return achieved through investing the same amount atthe end of each month, comparing the total contributions with theircurrent value and expressing the gain or loss as a percentage. Source:Gadbury Group Limited / Gadbury Group LimitedSource: Fidelity/HSBC Institutional Trust Services (Asia) Ltd., NAV to NAV,in USD. / Fidelity InvestorHotline富 達 投 資 熱 線(852) 2629 2629www.fidelity.com.hkInvestment involves risks. Past performance is not indicative of future performance. Please refer to the Explanatory Memorandum of Fidelity Advantage Portfolio Fund for further information including the riskfactors. Investment in the Global Equity Fund, the Growth Fund, the Balanced Fund, the Stable Growth Fund and the Capital Stable Fund (“Restricted Offering Funds”) of the Fidelity Advantage Portfolio Fund is notavailable to the general investing public. Investments in the Restricted Offering Funds are available only to Professional Investors, ORSO and MPF retirement schemes, their related Approved Pooled InvestmentFunds, or those individuals who have recently been or still are members of an ORSO or MPF retirement scheme. If you are an individual retail investor who is not a Professional Investor or current or former memberof an ORSO or MPF retirement scheme wishing to invest your accrued benefits and want to invest in Fidelity managed funds, please contact Fidelity for further details about which specific investment funds areavailable to the general investing public. FIL Limited and its subsidiaries are commonly referred to as Fidelity or Fidelity Worldwide Investment. Fidelity only gives information about its products and services.Fidelity, Fidelity Worldwide Investment, the Fidelity Worldwide Investment logo and F symbol are trademarks of FIL Limited. This material is issued by FIL Investment Management (Hong Kong) Limited and has notbeen reviewed by the Securities and Futures Commission (“SFC”). Fidelity Fidelity Worldwide Investment FIL Limited FidelityFidelity Worldwide InvestmentFidelity Worldwide Investment F FIL Limited 12

Fidelity Advantage Portfolio Fund - HK Dollar Money Fund富 達 優 越 投 資 組 合 基 金 - 港 元 貨 幣 基 金As of 28/02/2014Fund Descriptor 基 金 描 述Money Market Fund - Hong KongInvestment Objective 投 資 目 標The objective of the Fund is to achieve a wholesale rateof return for HK Dollars. The HK Dollar Money Fund is afeeder fund that invests in the HK$ Money Fund, a subfundof the Fidelity Global Investment Fund (FGIF). – Fund Details 基 金 資 料Fund Manager Bryan CollinsLaunch Date Ordinary 24/06/1998Administration 24/06/1998Savings 15/03/2002Unit NAV Ordinary Administration Savings Fund Size HK$66.67HK$63.83HK$63.64HK$1,198.80MRisk Indicator (3-Year Standard Deviation) † 0.05% †Fund Commentary^ 基 金 評 論^The yield on the three-month Hong Kong Interbank Offer Rate(HIBOR) fell marginally over the quarter. In the US, as the economyimproved, the Federal Reserve (Fed) said that it will reduce itsmonthly bond purchases by $10 billion beginning in January.However, the Fed signalled that traditional policy interest ratesare unlikely to increase until well after the unemployment ratedeclines to 6.5%. In addition, the US budget passed the Housewith a huge majority, averting the risk of a government shutdownin January. Against this backdrop, US Treasuries declined over thequarter. Overall, high yield bonds outperformed both governmentand investment grade corporate bonds. In Hong Kong, GDPgrowth missed forecasts due to lacklustre private consumption andinvestment. The unemployment rate was steady at 3.3% for thesixth straight month in November. Retail sales growth acceleratedunexpectedly in the same month, following weaker-than-anticipatedgrowth in October. Meanwhile, exports growth was strong over thefirst two months of the quarter. The portfolio is exposed to HongKong Treasury bills, commercial papers and certificate of deposits.The position in Hong Kong Treasury bills was reduced to fund theallocation to certificate of deposits. The holding in commercialpaper was also increased over the quarter.HIBOR201411006.5%1113.3%10Fund Performance 基 金 表 現Cumulative Performance YTD 3 Months 1 Year 3 Years 5 Years 10 Years Since Launch累 積 表 現 3 1 3 5 10 Ordinary 0.00% 0.00% 0.00% 0.09% 0.12% 12.33% 33.34%Administration 0.00% 0.00% 0.00% 0.09% -0.05% 10.20% 27.66%Savings 0.00% 0.00% 0.00% 0.09% -0.06% 9.97% 10.91%Dollar Cost Averaging Return 11平 均 成 本 法 回 報Ordinary N/A N/A 0.00% 0.05% 0.07% 3.61% 7.30%Administration N/A N/A 0.00% 0.05% 0.05% 2.94% 5.90%Savings N/A N/A 0.00% 0.05% 0.05% 2.87% 4.06%Cumulative Performance (Ordinary Class)累 積 表 現 ( 一 般 單 位 )Price Index價 格 指 數 (%)1201151101051009506/01 06/03 06/05 06/07 06/09 06/11 06/13Top 10 Holdings 十 大 主 要 投 資 項 目HONG KONG T-BILL #91 07/05/2014 14.98%HONG KONG GOV T-BILL #91 09/04/2014 8.89%NATIXIS BANQUES CP 0.13% 17/03/2014 8.07%HONG KONG T-BILL #91 16/04/2014 8.06%HONG KONG T-BILL #90 02/04/2014 6.91%HONG KONG T-BILL #91 30/04/2014 6.91%HONG KONG T-BILL #91 28/05/2014 6.91%CSFB CP 11/03/2014 5.76%HONG KONG T-BILL #91 23/04/2014 5.76%BNPSA CD 0% 24/04/2014 5.07%TOTAL 77.32%Fund 基 金Annual Performance 年 度 表 現Ordinary Administration Savings一 般 單 位 行 政 管 理 單 位 退 休 儲 蓄 單 位2013 0.00% 0.00% 0.00%2012 0.09% 0.09% 0.09%2011 0.00% 0.00% 0.00%2010 0.00% -0.02% -0.02%2009 0.14% -0.08% -0.09%2008 1.96% 1.53% 1.48%2007 3.87% 3.40% 3.34%2006 3.68% 3.21% 3.16%2005 2.04% 1.69% 1.66%^ as of 31/12/2013 31/12/2013† This is referring to the Risk Indicator of Ordinary Class.1 This is the return achieved through investing the same amount atthe end of each month, comparing the total contributions with theircurrent value and expressing the gain or loss as a percentage. Source:Gadbury Group Limited / Gadbury Group LimitedSource: Fidelity/HSBC Institutional Trust Services (Asia) Ltd., NAV to NAV,in HKD. / Fidelity InvestorHotline富 達 投 資 熱 線(852) 2629 2629www.fidelity.com.hk13Investment involves risks. Past performance is not indicative of future performance. Please refer to the Explanatory Memorandum of Fidelity Advantage Portfolio Fund for further information including the riskfactors. Investment in the Global Equity Fund, the Growth Fund, the Balanced Fund, the Stable Growth Fund and the Capital Stable Fund (“Restricted Offering Funds”) of the Fidelity Advantage Portfolio Fund is notavailable to the general investing public. Investments in the Restricted Offering Funds are available only to Professional Investors, ORSO and MPF retirement schemes, their related Approved Pooled InvestmentFunds, or those individuals who have recently been or still are members of an ORSO or MPF retirement scheme. If you are an individual retail investor who is not a Professional Investor or current or former memberof an ORSO or MPF retirement scheme wishing to invest your accrued benefits and want to invest in Fidelity managed funds, please contact Fidelity for further details about which specific investment funds areavailable to the general investing public. FIL Limited and its subsidiaries are commonly referred to as Fidelity or Fidelity Worldwide Investment. Fidelity only gives information about its products and services.Fidelity, Fidelity Worldwide Investment, the Fidelity Worldwide Investment logo and F symbol are trademarks of FIL Limited. This material is issued by FIL Investment Management (Hong Kong) Limited and has notbeen reviewed by the Securities and Futures Commission (“SFC”). Fidelity Fidelity Worldwide Investment FIL Limited FidelityFidelity Worldwide InvestmentFidelity Worldwide Investment F FIL Limited

Fidelity Advantage Portfolio Fund - US Dollar Money Fund富 達 優 越 投 資 組 合 基 金 - 美 元 貨 幣 基 金As of 28/02/2014Fund Descriptor 基 金 描 述Money Market Fund - USInvestment Objective 投 資 目 標The objective of the Fund is to achieve a wholesale rateof return for US dollars. The US Dollar Money Fund is afeeder fund that invests in the US$ Money Fund, a subfundof the Fidelity Global Investment Fund (FGIF). – Fund Details 基 金 資 料Fund Manager Bryan CollinsLaunch Date Ordinary 08/03/1995Administration 08/03/1995Savings 15/03/2002Unit NAV Ordinary Administration Savings Fund Size US$16.29US$15.64US$15.57US$223.02MRisk Indicator (3-Year Standard Deviation) † 0.06% †Fund Commentary^ 基 金 評 論^As the US economy improved, the Federal Reserve (Fed) said itwill reduce its monthly bond purchases by $10 billion beginning inJanuary. Strong third-quarter GDP growth; a drop in unemploymentto a five-year low; as well as a steady rise in business andconsumer spending, house prices and mortgage approvals drovethe Fed’s decision. However, the central bank signalled thattraditional policy interest rates are unlikely to increase until wellafter the unemployment rate declines to 6.5%. In addition, theUS budget passed the House with a huge majority, averting therisk of a government shutdown in January. Against this backdrop,US Treasuries declined, whilst corporate bonds advanced. Highyield bonds were the best performing fixed income asset class asinvestors continued to search for yield. The manager increased theallocation to time deposits. The exposure to certificates of depositsand commercial papers came down slightly over the quarter.20141 100 6.5%1Fund Performance 基 金 表 現Cumulative Performance YTD 3 Months 1 Year 3 Years 5 Years 10 Years Since Launch累 積 表 現 3 1 3 5 10 Ordinary 0.00% 0.00% 0.06% 0.18% 0.31% 17.36% 62.90%Administration 0.00% 0.00% 0.06% 0.19% 0.32% 17.42% 56.40%Savings 0.00% 0.00% 0.06% 0.19% 0.26% 17.07% 18.13%Dollar Cost Averaging Return 11平 均 成 本 法 回 報Ordinary N/A N/A 0.03% 0.10% 0.14% 4.96% 9.88%Administration N/A N/A 0.03% 0.10% 0.14% 4.97% 9.59%Savings N/A N/A 0.03% 0.11% 0.14% 4.87% 6.90%Cumulative Performance (Ordinary Class)累 積 表 現 ( 一 般 單 位 )Price Index價 格 指 數 (%)1251201151101051009503/01 03/03 03/05 03/07 03/09 03/11 03/13Top 10 Holdings 十 大 主 要 投 資 項 目HONG KONG MORTG CP 0.19% 07/05/2014 9.98%HONG KONG MORTG CP 0.2% 19/05/2014 7.48%HONG KONG MORTG CP 0.21% 23/05/2014 7.48%US T-BILL 0% 06/03/2014 4.99%BNP PARIBAS SYD CP 0.23% 12/03/2014 4.99%OCBC CP 0.2% 09/05/2014 4.99%CSFBAU CP 0.2% 19/05/2014 4.99%BANK TOKYO-MIT CD 0% 13/03/2014 4.49%NATIXIS BANQUES CP 0.17% 27/03/2014 4.49%TERM DEPOSIT IN UBS 4.36%TOTAL 58.24%Fund 基 金Annual Performance 年 度 表 現Ordinary Administration Savings一 般 單 位 行 政 管 理 單 位 退 休 儲 蓄 單 位2013 0.06% 0.06% 0.06%2012 0.12% 0.13% 0.13%2011 0.00% 0.00% 0.00%2010 0.00% 0.00% 0.00%2009 0.31% 0.32% 0.26%2008 2.86% 2.84% 2.79%2007 5.00% 5.00% 5.01%2006 4.53% 4.57% 4.44%2005 2.79% 2.68% 2.69%^ as of 31/12/2013 31/12/2013† This is referring to the Risk Indicator of Ordinary Class.1 This is the return achieved through investing the same amount atthe end of each month, comparing the total contributions with theircurrent value and expressing the gain or loss as a percentage. Source:Gadbury Group Limited / Gadbury Group LimitedSource: Fidelity/HSBC Institutional Trust Services (Asia) Ltd., NAV to NAV,in USD. / Fidelity InvestorHotline富 達 投 資 熱 線(852) 2629 2629www.fidelity.com.hkInvestment involves risks. Past performance is not indicative of future performance. Please refer to the Explanatory Memorandum of Fidelity Advantage Portfolio Fund for further information including the riskfactors. Investment in the Global Equity Fund, the Growth Fund, the Balanced Fund, the Stable Growth Fund and the Capital Stable Fund (“Restricted Offering Funds”) of the Fidelity Advantage Portfolio Fund is notavailable to the general investing public. Investments in the Restricted Offering Funds are available only to Professional Investors, ORSO and MPF retirement schemes, their related Approved Pooled InvestmentFunds, or those individuals who have recently been or still are members of an ORSO or MPF retirement scheme. If you are an individual retail investor who is not a Professional Investor or current or former memberof an ORSO or MPF retirement scheme wishing to invest your accrued benefits and want to invest in Fidelity managed funds, please contact Fidelity for further details about which specific investment funds areavailable to the general investing public. FIL Limited and its subsidiaries are commonly referred to as Fidelity or Fidelity Worldwide Investment. Fidelity only gives information about its products and services.Fidelity, Fidelity Worldwide Investment, the Fidelity Worldwide Investment logo and F symbol are trademarks of FIL Limited. This material is issued by FIL Investment Management (Hong Kong) Limited and has notbeen reviewed by the Securities and Futures Commission (“SFC”). Fidelity Fidelity Worldwide Investment FIL Limited FidelityFidelity Worldwide InvestmentFidelity Worldwide Investment F FIL Limited 14

Fidelity Advantage Portfolio Fund - Invesco Asian Equity Fund富 達 優 越 投 資 組 合 基 金 - 景 順 亞 洲 動 力 基 金As of 28/02/2014Fund Descriptor 基 金 描 述Equity Fund - AsiaInvestment Objective 投 資 目 標The Fund is a feeder fund that invests in the InvescoAsian Equity Fund, a sub-fund of Invesco Funds Series. Theobjective of the Invesco Asian Equity Fund is to achievecapital growth in the Asia Pacific region, excluding Japan,Australia and New Zealand. It will invest mainly in sharesof companies quoted on Asia's smaller stock markets,although it may include shares of companies quotedelsewhere which derive revenues from or have substantialinterests in Asia as the manager considers appropriate.The Invesco Asian Equity Fund will invest in securities listedor traded on recognized markets. – Fund Details 基 金 資 料Launch Date Ordinary 16/01/2006Administration 16/01/2006Savings 16/01/2006Unit NAV Ordinary Administration Savings Fund Size US$17.26US$16.64US$16.58US$55.41MRisk Indicator (3-Year Standard Deviation) † 17.82% †Fund Commentary^ 基 金 評 論^Asian equity markets delivered mixed returns over the perioddespite initial support from the US Federal Reserve’s (Fed) decisionto maintain asset purchases in September and signs of stabilisationin China’s economy. Indian equity markets made strong gains onraised hopes that a new government might transform the businessand economic environment, while the Chinese equity market madesolid gains on the back of ambitious reform proposals. Meanwhile,ASEAN equity markets faced a number of different headwinds asthey factored in Fed tapering, eventually announced in December,with Thailand the notable laggard due to increased politicaluncertainty. 9 12 Fund Performance 基 金 表 現Cumulative Performance YTD 3 Months 1 Year 3 Years 5 Years 10 Years Since Launch累 積 表 現 3 1 3 5 10 Ordinary -1.65% -1.48% 5.12% 13.78% 154.20% - 72.60%Administration -1.71% -1.60% 4.65% 12.28% 148.73% - 66.40%Savings -1.66% -1.60% 4.61% 12.10% 148.20% - 65.80%Dollar Cost Averaging Return 11平 均 成 本 法 回 報Ordinary N/A N/A 3.71% 11.54% 25.15% - 35.48%Administration N/A N/A 3.46% 10.76% 23.61% - 32.84%Savings N/A N/A 3.47% 10.70% 23.47% - 32.59%Cumulative Performance (Ordinary Class)累 積 表 現 ( 一 般 單 位 )Price Index價 格 指 數 (%)180160140120100806001/06 01/07 01/08 01/09 01/10 01/11 01/12 01/13 01/14Top 10 Holdings 十 大 主 要 投 資 項 目SAMSUNG 7.5%HUTCHISON WHAMPOA 4.3%INDUSTRIAL AND COMMERCIAL BANK OF CHINA3.7%TAIWAN SEMICONDUCTOR 3.3%NETEASE ADR 3.1%HYUNDAI MOTOR 3.0%BAIDU ADR 2.6%HYUNDAI MOBIS 2.5%AIA GROUP 2.3%PETROCHINA 2.2%TOTAL 34.5%Industry Breakdown 行 業 投 資 分 佈30.0% Financials 23.1% Information Technology17.3% Industrials 7.2% Consumer Discretionary5.1% Consumer Staples4.5% Energy 3.8% Telecommunication Services9.0% Others* Fund 基 金Annual Performance 年 度 表 現Ordinary Administration Savings一 般 單 位 行 政 管 理 單 位 退 休 儲 蓄 單 位2013 10.31% 9.79% 9.69%2012 21.17% 20.66% 20.64%2011 -17.00% -17.39% -17.43%2010 22.45% 21.91% 21.78%2009 69.11% 68.30% 68.26%2008 -49.93% -50.13% -50.17%2007 27.17% 26.53% 26.44%2006 20.00% ~ 19.50% ~ 19.50% ~~ Since launch date to the end of launch yearGeographical Breakdown 國 家 投 資 分 佈CHINA 22.6%SOUTH KOREA 20.7%HONG KONG 17.3%TAIWAN 12.8%INDIA 9.2%INDONESIA 4.2%THAILAND 3.9%OTHERS # # 9.3%# May include cash, account payables and account receivables.^ as of 31/12/2013 31/12/2013† This is referring to the Risk Indicator of Ordinary Class.1 This is the return achieved through investing the same amount atthe end of each month, comparing the total contributions with theircurrent value and expressing the gain or loss as a percentage. Source:Gadbury Group Limited / Gadbury Group LimitedSource: Fidelity/HSBC Institutional Trust Services (Asia) Ltd., NAV to NAV,in USD. / * Others may include cash, account payables, accountreceivables and/or other industries. / / Fidelity InvestorHotline富 達 投 資 熱 線(852) 2629 2629www.fidelity.com.hk15Investment involves risks. Past performance is not indicative of future performance. Please refer to the Explanatory Memorandum of Fidelity Advantage Portfolio Fund for further information including the riskfactors. Investment in the Global Equity Fund, the Growth Fund, the Balanced Fund, the Stable Growth Fund and the Capital Stable Fund (“Restricted Offering Funds”) of the Fidelity Advantage Portfolio Fund is notavailable to the general investing public. Investments in the Restricted Offering Funds are available only to Professional Investors, ORSO and MPF retirement schemes, their related Approved Pooled InvestmentFunds, or those individuals who have recently been or still are members of an ORSO or MPF retirement scheme. If you are an individual retail investor who is not a Professional Investor or current or former memberof an ORSO or MPF retirement scheme wishing to invest your accrued benefits and want to invest in Fidelity managed funds, please contact Fidelity for further details about which specific investment funds areavailable to the general investing public. FIL Limited and its subsidiaries are commonly referred to as Fidelity or Fidelity Worldwide Investment. Fidelity only gives information about its products and services.Fidelity, Fidelity Worldwide Investment, the Fidelity Worldwide Investment logo and F symbol are trademarks of FIL Limited. This material is issued by FIL Investment Management (Hong Kong) Limited and has notbeen reviewed by the Securities and Futures Commission (“SFC”). Fidelity Fidelity Worldwide Investment FIL Limited FidelityFidelity Worldwide InvestmentFidelity Worldwide Investment F FIL Limited

Fidelity Advantage Portfolio Fund - Tracker Fund Portfolio富 達 優 越 投 資 組 合 基 金 - 盈 富 基 金 組 合As of 28/02/2014Fund Descriptor 基 金 描 述Equity Fund - Hong KongInvestment Objective 投 資 目 標The Fund is a feeder fund that invests in the Tracker Fundof Hong Kong (“TraHK”).TraHK’s investment objective isto provide investment results that closely correspond tothe performance of the Hang Seng Index of Hong Kong.The manager of TraHK seeks to achieve the investmentobjective of TraHK by investing all, or substantially all, ofTraHK’s assets in shares listed on The Stock Exchange ofHong Kong Limited in substantially the same weightingsas they appear in the Hang Seng Index. The managerof TraHK may also invest in certain other permittedinvestments in seeking to meet the investment objectiveof TraHK. The manager of TraHK will rebalance TraHK’sportfolio of investments from time to time to reflect anychanges to the composition of, or the weighting of sharesin, the Hang Seng Index.Fund Details 基 金 資 料Launch Date Ordinary 16/01/2006Administration 16/01/2006Savings 16/01/2006Unit NAV Ordinary HK$16.45Administration HK$15.86Savings HK$15.79Fund Size HK$240.37MRisk Indicator (3-Year Standard Deviation) † 19.60% †Fund Commentary 基 金 評 論Not AvailableFund Performance 基 金 表 現Cumulative Performance YTD 3 Months 1 Year 3 Years 5 Years 10 Years Since Launch累 積 表 現 3 1 3 5 10 Ordinary -2.08% -4.69% 1.42% 4.71% 94.67% - 64.50%Administration -2.16% -4.80% 0.95% 3.32% 90.40% - 58.60%Savings -2.17% -4.82% 0.89% 3.07% 89.78% - 57.90%Dollar Cost Averaging Return 11平 均 成 本 法 回 報Ordinary N/A N/A 2.19% 9.92% 15.96% - 22.75%Administration N/A N/A 1.94% 9.14% 14.57% - 20.40%Savings N/A N/A 1.87% 9.01% 14.38% - 20.10%Cumulative Performance (Ordinary Class)累 積 表 現 ( 一 般 單 位 )Price Index價 格 指 數 (%)200180160140120100807001/06 01/07 01/08 01/09 01/10 01/11 01/12 01/13 01/14Top 10 Holdings 十 大 主 要 投 資 項 目HSBC HOLDINGS PLC 15.07%TENCENT HOLDINGS LIMITED 9.46%AIA GROUP LTD 6.22%CHINA CONSTRUCTION BANK CORP H SHRS H 6.11%CHINA MOBILE LTD 6.06%INDUSTRIAL & COM BK OF CHINA H SHRS H 4.40%BANK OF CHINA LTD H SHRS H 3.52%CNOOC LTD 3.09%HUTCHISON WHAMPOA LTD 3.03%GALAXY ENTERTAINMENT GROUP 2.45%TOTAL 59.41%Fund 基 金Annual Performance 年 度 表 現Ordinary Administration Savings一 般 單 位 行 政 管 理 單 位 退 休 儲 蓄 單 位2013 5.07% 4.58% 4.47%2012 25.81% 25.30% 25.30%2011 -18.00% -18.35% -18.45%2010 6.60% 6.02% 6.03%2009 52.57% 52.02% 51.86%2008 -45.73% -45.98% -46.00%2007 40.59% 39.87% 39.79%2006 24.90% ~ 24.40% ~ 24.40% ~~ Since launch date to the end of launch yearIndustry Breakdown 行 業 投 資 分 佈44.9% Financials 10.2% Information Technology9.6% Energy 9.1% Properties and Construction6.9% Telecommunications5.8% Consumer Services4.6% Utilities 8.9% Others* † This is referring to the Risk Indicator of Ordinary Class.1 This is the return achieved through investing the same amount atthe end of each month, comparing the total contributions with theircurrent value and expressing the gain or loss as a percentage. Source:Gadbury Group Limited / Gadbury Group LimitedSource: Fidelity/HSBC Institutional Trust Services (Asia) Ltd., NAV to NAV,in HKD. / * Others may include cash, account payables, accountreceivables and/or other industries. / / Fidelity InvestorHotline富 達 投 資 熱 線(852) 2629 2629www.fidelity.com.hkInvestment involves risks. Past performance is not indicative of future performance. Please refer to the Explanatory Memorandum of Fidelity Advantage Portfolio Fund for further information including the riskfactors. Investment in the Global Equity Fund, the Growth Fund, the Balanced Fund, the Stable Growth Fund and the Capital Stable Fund (“Restricted Offering Funds”) of the Fidelity Advantage Portfolio Fund is notavailable to the general investing public. Investments in the Restricted Offering Funds are available only to Professional Investors, ORSO and MPF retirement schemes, their related Approved Pooled InvestmentFunds, or those individuals who have recently been or still are members of an ORSO or MPF retirement scheme. If you are an individual retail investor who is not a Professional Investor or current or former memberof an ORSO or MPF retirement scheme wishing to invest your accrued benefits and want to invest in Fidelity managed funds, please contact Fidelity for further details about which specific investment funds areavailable to the general investing public. FIL Limited and its subsidiaries are commonly referred to as Fidelity or Fidelity Worldwide Investment. Fidelity only gives information about its products and services.Fidelity, Fidelity Worldwide Investment, the Fidelity Worldwide Investment logo and F symbol are trademarks of FIL Limited. This material is issued by FIL Investment Management (Hong Kong) Limited and has notbeen reviewed by the Securities and Futures Commission (“SFC”). Fidelity Fidelity Worldwide Investment FIL Limited FidelityFidelity Worldwide InvestmentFidelity Worldwide Investment F FIL Limited 16

Bond Fund - Hong KongInvestment Fund (FGIF).Fund Manager Bryan CollinsLaunch Date Ordinary 30/06/2003Administration 30/06/2003Savings 30/06/2003Unit NAV Ordinary HK$ 66.39 Administration HK$ 63.52 Savings HK$ 63.21 Fund Size HK$ 204.81 MModified Duration Fund 4.93 YearYield to Maturity 1.89 %of 2012, supported by strong private consumption and exports.Furthermore, retail sales rose at a stronger-than-anticipated pacefor a second straight month in February. In the same month,both exports and imports contracted following a strong showingin January. Meanwhile, the government unveiled measures tocurb property speculation and, in its annual budget, announcedmeasures to foster growth. In the US, a temporary solution wasfound in early January to avert the fiscal cliff. However, thegovernment was forced to sign a sequestration deal in early Marchgiven the political impasse over the issue. The Federal Reservesaid that its quantitative easing programme would continue tillinflation reaches 2.5% or unemployment falls to 6.5%. China's fourthquarter growth rate picked up after decelerating for the last sevenquarters. Whilst February retail sales and industrial productiondata disappointed, recent surveys showed that activity in themanufacturing and services sectors strengthened. Fixed assetinvestment was also solid. Inflation eased in March after risingin February due to seasonal factors. Meanwhile, China unveiledmeasures to cool the property market. The fund outperformed theindex over the quarter. Favourable term structure positioning, inparticular the short duration stance, helped returns as the yieldcurve shifted upwards. On the other hand, the long durationposition in the US dollar detracted from returns as Treasury yieldsrose. Over the period, the underweight stance in governmentbonds was reduced. The exposure to financials, particularly realestate, was raised whilst the allocation to transportation issueswas lowered. The fund's average rating was maintained at A- asof the end of March 2013.2012212132.5%6.5%223 20133A-Equity Fund - Hong KongFidelity Global Investment Fund (FGIF).Fund Manager Stephen Ma Launch Date Ordinary 30/06/2003Administration 30/06/2003Savings 30/06/2003Unit NAV Ordinary HK$ 176.92 Administration HK$ 169.26 Savings HK$ 168.43 Fund Size HK$ 1,913.05 Munveiled measures to curb speculative property demand andlenders increased mortgage rates. Despite a strong recoveryin consumption, retailers witnessed weakening pricing poweramid increased competition. The pace of economic growthaccelerated in the fourth quarter, and private consumption roseat a faster-than-expected rate. Strong stock selection supportedthe fund's performance. Within telecommunications, theunderweight stance in China Mobile and China Unicom addedrelative value as investors were concerned that a rise in fourthgeneration(4G)-related capital expenditure may drag theirprot outlook. Within information technology, shares in acousticcomponent manufacture AAC Technologies were buoyed bysolid margins and better earnings outlook than peers owingto a specification upgrade and diversified customer mix.Conversely, limited exposure to utilities and individual holdingsin industrials detracted from returns. The underweight stancein Power Assets and Hong Kong & China Gas weighed onperformance as these stocks climbed following better-thanexpectedearnings. Not holding CLP hurt gains as it rose amidexpectations of a strong recovery in 2013. 4G2013 3 1 3 5 10 Price Index(%)500400300200100006/03 06/04 06/05 06/06 06/07 06/08 06/09 06/10 06/11 06/12HSBC HOLDINGS PLC 9.97%AIA GROUP LTD 5.19%CHINA CONSTRUCTION BANK CORP H SHRS4.55% H INDUSTRIAL & COM BK OF CHINA H SHRS4.20% H BANK OF CHINA LTD H SHRS H 3.94%CHINA MOBILE LTD 3.02%TENCENT HOLDINGS LIMITED 2.86%HUTCHISON WHAMPOA LTD 2.48%CHINA PETROLEUM & CHEMICAL CORP H SHRS2.17% H CHEUNG KONG HLDGS LTD 2.04%TOTAL 40.42%53.1% Financials 9.4% Industrials 8.6% Oil & Gas7.0% Consumer Goods6.5% Utilities 4.8% Consumer Services4.1% Technology 6.5% Others* / / CHINA 50.9%HONG KONG 45.2%SINGAPORE 1.5%CASH & OTHERS # # 2.4%# May include cash, account payables and account receivables.Stock markets started the first quarter of 2013 on a strongnote amid www.delity.com.hksigns of stabilisation in global growth. Positiveretail sales, employment and housing data from the US,coupled with monetary stimulus by central banks boostedconfidence. Japanese equities rebounded, driven by aweaker yen and the pro-growth policies advocated by thenew government. The Bank of Japan (BoJ) also extendedsupport by doubling its inflation target. However, aninconclusive election result in Italy and a tough rescueInvestment involves risks. Past performance is not indicative of future performance. Please refer to the Explanatory Memorandum of Fidelity Advantage Portfolio Fund for package further information Cyprus including kept investor the risk sentiment subdued infactors. Investment in the Global Equity Fund, the Growth Fund, the Balanced Fund, the Stable Growth Fund and the Capital Stable Fund (“Restricted Offering Funds”) of the Fidelity the latter Advantage half of Portfolio the period. Fund Equities is not in Japan advancedavailable to the general investing public. Investments in the Restricted Offering Funds are available only to Professional Investors, ORSO and MPF retirement schemes, their the related most, Approved followed Pooled by those Investment in the US, Pacific ex Japan,Funds, or those individuals who have recently been or still are members of an ORSO or MPF retirement scheme. If you are an individual retail investor who is not a Professional Investor or current or former member of an ORSO or MPF retirement scheme 3 wishing to 1 invest your 3accrued benefits 5 and want 10 to invest in Europe ex UK, the UK and emerging markets. The allocationFidelity managed funds, please contact Fidelity for further details about to which US equities specific investment rose on improving funds are domestic economicavailable to the general investing public. FIL Limited and its subsidiaries are commonly referred to as Fidelity or Fidelity Worldwide Investment. Fidelity only gives information fundamentals about its products and corporate and services. profitability. EmploymentFidelity, Fidelity Worldwide Investment, the Fidelity Worldwide Investment logo and F symbol are trademarks of FIL Limited. This material is issued by FIL Investment Management has picked (Hong Kong) up and Limited the recovery and has in not the housing market hasbeen reviewed by the Securities and Futures Commission (“SFC”).continued, with existing home sales rising to the highestlevel since November 2009. However, there are concernsabout differences within the Federal Reserve on continuedsupport for quantitative easing. Elsewhere, the exposure to Fidelity Fidelity Worldwide Investment FIL Limited FidelityFidelity Worldwide InvestmentFidelity Japan Worldwide was increased Investment as the reflationary F policies of the new FIL Limited government and more aggressive easing measures by theBoJ are expected to contribute to a sustainable recovery incorporate earnings. These positions were primarily fundedby reducing the holding in European equities to neutral.Recent gains in the European market could be at risk fromuncertainty over a possible collapse of the banking systemin Cyprus and the political deadlock following the Italianelections.Price Index(%)140130120110100908006/03 06/04 06/05 06/06 06/07 06/08 06/09 06/10 06/11 06/12HK GOVT 2.93% 01/13/2020 10GB20015.98% 2.93% 01/13/2020 10GB2001HK GOVT FRN HKCPI 06/22/2015 5.92%HK GOVT FRN HKCPI 07/28/2014 4.92%HK GOVT 2.46% 08/04/20213.70% 2.46% 08/04/2021HK GOVT 1.51% 02/24/20272.26% 1.51% 02/24/2027HK GOVT 3.32% 02/25/20262.10% 3.32% 02/25/2026CHINA DEV BK HK BR 2.625% 04/03/2020 2.07%URBAN RENEWAL AUTH 1.75% 08/02/2019 2.07%SPI ELECT&GAS EMTN 4.125% 03/16/2020 1.35%NONGHYUP BANK 1.14% 03/12/2016 1.22%TOTAL 31.59%33.8% Financial 26.2% Treasury 17.2% Industrial 12.0% Quasi/Sov/Supra/Agncy///10.8% Utility Fund HONG KONG DOLLAR 87.3%US DOLLAR 9.1%CHINESE YUAN 3.6%AAA/Aaa 5.7%AA/Aa 40.0%A 32.9%BBB/Baa 6.2%Others* * 15.2%* Others may include cash, account payables, account receivables and/or not rated.^ as of 31/03/2013 31/03/2013† This is referring to the Risk Indicator of Ordinary Class.1 This is the return achieved through saving the same amount at the endof each month, comparing the total contributions with their currentvalue and expressing the gain or loss as a percentage. Source:Gadbury Group Limited / Gadbury Group LimitedSource: Fidelity/HSBC Institutional Trust Services (Asia) Ltd., NAV to NAV,in HKD. / www.delity.com.hkInvestment involves risks. Past performance is not indicative of future performance. Please refer to the Explanatory Memorandum of Fidelity Advantage Portfolio Fund for further information including the riskfactors. Investment in the Global Equity Fund, the Growth Fund, the Balanced Fund, the Stable Growth Fund and the Capital Stable Fund (“Restricted Offering Funds”) of the Fidelity Advantage Portfolio Fund is notavailable to the general investing public. Investments in the Restricted Offering Funds are available only to Professional Investors, ORSO and MPF retirement schemes, their related Approved Pooled InvestmentFunds, or those individuals who have recently been or still are members of an ORSO or MPF retirement scheme. If you are an individual retail investor who is not a Professional Investor or current or former memberof an ORSO or MPF retirement scheme wishing to invest your accrued benefits and want to invest in Fidelity managed funds, please contact Fidelity for further details about which specific investment funds areavailable to the general investing public. FIL Limited and its subsidiaries are commonly referred to as Fidelity or Fidelity Worldwide Investment. Fidelity only gives information about its products and services.Fidelity, Fidelity Worldwide Investment, the Fidelity Worldwide Investment logo and F symbol are trademarks of FIL Limited. This material is issued by FIL Investment Management (Hong Kong) Limited and has notbeen reviewed by the Securities and Futures Commission (“SFC”). Fidelity Fidelity Worldwide Investment FIL Limited FidelityFidelity Worldwide InvestmentFidelity Worldwide Investment F FIL Limited Fund Equity Fund - Global^ as of 31/03/2013 31/03/2013† This is referring to the Risk Indicator of Ordinary Class.1 This is the return achieved through saving the same amount at the endof each month, comparing the The total Fund contributions will invest with primarily their current in the global equity marketsvalue and expressing the gain and or produce loss as returns a percentage. that are Source: related to those achieved onGadbury Group Limited the major world stock market indices. / Gadbury Group Limited Source: Fidelity/HSBC Institutional Trust Services (Asia) Ltd., NAV to NAV,in HKD. / Fund Manager Pek Ng Launch Date Ordinary 30/06/2003Administration 30/06/2003Savings 30/06/2003Unit NAV Ordinary US$ 20.10 Administration US$ 19.24 Savings US$ 19.14 Fund Size US$ 94.05 MRisk Indicator (3-Year Standard Deviation) † 17.76 % †2013200911 3 1 3 5 10 Price Index(%)2202001801601401201008006/03 06/04 06/05 06/06 06/07 06/08 06/09 06/10 06/11 06/12APPLE INC 2.13%EXXON MOBIL CORP 1.76%CVS CAREMARK CORP 1.64%JPMORGAN CHASE & CO 1.39%PFIZER INC 1.28%MICROSOFT CORP 1.27%PROCTER & GAMBLE CO 1.13%BERKSHIRE HATHAWAY INC CL B 1.02%SCHLUMBERGER LTD 1.02%PEPSICO INC 0.97%TOTAL 13.61%22.8% Financials 12.9% Consumer Goods11.8% Industrials 11.6% Consumer Services10.2% Health Care9.8% Technology 8.4% Oil & Gas12.5% Others* Fund HONG KONG EQUITY FUND 1.69%JAPANESE EQUITY FUND 9.85%ASIA PACIFIC EQUITY FUND* * 12.97%AMERICAS EQUITY FUND 53.19%EUROPEAN EQUITY FUND 22.36%CASH & OTHERS # # -0.06%* May include investments in Japan and Hong Kong.^ as of 31/03/2013 31/03/2013† This is referring to the Risk Indicator of Ordinary Class.1 This is the return achieved through saving the same amount at the endof each month, comparing the total contributions with their currentvalue and expressing the gain or loss as a percentage. Source:Gadbury Group Limited / Gadbury Group LimitedSource: Fidelity/HSBC Institutional Trust Services (Asia) Ltd., NAV to NAV,in USD. / www.delity.com.hkInvestment involves risks. Past performance is not indicative of future performance. Please refer to the Explanatory Memorandum of Fidelity Advantage Portfolio Fund for further information including the riskfactors. Investment in the Global Equity Fund, the Growth Fund, the Balanced Fund, the Stable Growth Fund and the Capital Stable Fund (“Restricted Offering Funds”) of the Fidelity Advantage Portfolio Fund is notavailable to the general investing public. Investments in the Restricted Offering Funds are available only to Professional Investors, ORSO and MPF retirement schemes, their related Approved Pooled InvestmentFunds, or those individuals who have recently been or still are members of an ORSO or MPF retirement scheme. If you are an individual retail investor who is not a Professional Investor or current or former memberof an ORSO or MPF retirement scheme wishing to invest your accrued benefits and want to invest in Fidelity managed funds, please contact Fidelity for further details about which specific investment funds areavailable to the general investing public. FIL Limited and its subsidiaries are commonly referred to as Fidelity or Fidelity Worldwide Investment. Fidelity only gives information about its products and services.Fidelity, Fidelity Worldwide Investment, the Fidelity Worldwide Investment logo and F symbol are trademarks of FIL Limited. This material is issued by FIL Investment Management (Hong Kong) Limited and has notbeen reviewed by the Securities and Futures Commission (“SFC”). Fidelity Fidelity Worldwide Investment FIL Limited FidelityFidelity Worldwide InvestmentFidelity Worldwide Investment F FIL Limited Glossary 171. Fund PerformanceInvestment performance of a fund is calculated on NAV to NAV basis.2. Performance Since LaunchThe return since the initial launch of a fund.3. Dollar Cost Averaging ReturnThis is the return achieved through investing the same amount at the end ofeach month, comparing the total contributions with their current value andexpressing the gain or loss as a percentage.4. Cumulative PerformanceThe cumulative performance is the gain or loss generated from an investmentfund to date over a specified period of time.5. Annual PerformanceThe annual return of an investment fund for acalendar year.6. Top 10 HoldingsA list of top 10 largest underlying securitiesholdings as a % of the fund. Information isupdated on a calendar quarterly basis.7. Geographical/Currency BreakdownBreakdown of portfolio investments by country orcurrency. Information is updated on a calendarquarterly basis.8. Industry BreakdownBreakdown of portfolio investments by industrygroup. Information is updated on a calendarquarterly basis.9. Unit NAVThe price or value of oneunit of the fund calculated bydividing the Net Asset Valueby the total number of unitsoutstanding.10. Fund SizeIt is the total value of thefund’s portfolio less liabilitiesas at reporting date of fundfactsheet.As of 30/4/2013Fund Descriptor Fidelity Advantage Portfolio Fund - Hong Kong Equity FundAs of 30/4/2013Fund Descriptor Investment Objective The objective of the Fund is to produce returns related tothose achieved on the major stock market indices of HongKong.The Hong Kong Equity Fund is a feeder fund thatinvests in the Hong Kong Equity Fund, a sub-fund of theFund Details Risk Indicator (3-Year Standard Deviation) † 20.07 % †Fund Commentary^ Equities in Hong Kong ended lower as the governmentFund Performance Cumulative Performance YTD 3 Months 1 Year 3 Years 5 Years 10 Years Since Launch1Ordinary 1.42% -3.94% 10.36% 8.83% 7.83% - 253.84%Administration 1.27% -4.05% 9.87% 7.36% 5.43% - 238.52%2Savings 1.25% -4.06% 9.81% 7.21% 5.17% - 236.86%Dollar Cost Averaging Return 1 Ordinary 3 N/A N/A 8.69% 7.35% 18.92% - 60.97%Administration N/A N/A 8.42% 6.62% 17.48% - 56.75%Savings N/A N/A 8.39% 6.54% 17.32% - 56.28%Cumulative Performance (Ordinary Class)Annual Performance Ordinary Administration Savings2012 21.45% 20.90% 20.84%2011 -21.74% -22.09% -22.13%2010 11.23% 10.73% 10.67%2009 64.83% 64.09% 64.01%4 2008 -45.35% 5-45.59% -45.62%2007 56.28% 55.59% 55.50%2006 38.09% 37.46% 37.39%2005 9.79% 9.30% 9.25%Top 10 Holdings Industry Breakdown * Others may include cash, account payables, accountreceivables and/or other industries.Fidelity Advantage Portfolio Fund - Hong Kong Bond FundInvestment Objective The objective of the Fund is to produce returns that arerelated to those achieved on the major bond marketindices by investing in world bond markets with a focus onHong Kong dollar denominated bonds and issuers. TheHong Kong Bond Fund is a feeder fund that invests in theHong Kong Bond Fund, a sub-fund of the Fidelity GlobalFund Details 11. Risk IndicatorRisk Indicator is measuredby the annualised standarddeviation of the fund’s monthlyrates of return over the past3 years to the reportingdate of the fund factsheet.For funds with less than 3years of performance history,the risk indicator figure willnot be available. StandardDeviation is a measure ofthe historical performancefluctuation of a mutual fundor portfolio, usually computedusing 36 monthly returns. Thisis to measure how the monthlyfund performance movements11are away from the averageperformance. The greater thedegree of dispersion, the greater the risk.9101113 12Risk Indicator (3-Year Standard Deviation) † 2.27 % †Fund Commentary^ In Hong Kong, GDP growth accelerated over the fourth quarterFund Performance Cumulative Performance YTD 3 Months 1 Year 3 Years 5 Years 10 Years Since LaunchOrdinary 0.73% 1.54% 3.88% 13.51% 22.36% - 32.78%Administration 0.59% 1.44% 3.42% 11.99% 19.62% - 27.04%Savings 0.57% 1.43% 3.39% 11.82% 19.33% - 26.42%Dollar Cost Averaging Return 1Ordinary N/A N/A 1.92% 6.20% 11.35% - 21.79%Administration N/A N/A 1.67% 5.46% 10.04% - 18.97%Savings N/A N/A 1.65% 5.38% 9.90% - 18.66%Cumulative Performance (Ordinary Class)Annual Performance Ordinary Administration Savings2012 4.64% 4.17% 4.11%2011 5.63% 5.15% 5.12%2010 4.23% 3.76% 3.70%2009 1.38% 0.93% 0.87%2008 5.91% 5.44% 5.39%2007 3.92% 3.45% 3.39%2006 4.10% 3.63% 3.58%2005 -1.72% -2.15% -2.19%Top 10 Holdings Industry Breakdown Currency Breakdown S&P/Moody's Credit Ratings 14Fidelity InvestorHotline(852) 2629 262912. Modified DurationModified Duration serves as a guide to the sensitivity of a bond or fixed-incomeportfolio’s price to interest rate changes. It follows the concept that interest ratesand bond prices move in opposite directions. For example: if interest rates rise1%, the price of a bond with a duration of 5 years will generally fall by 5%.13. Yield to MaturityThe expected rate of return on a bond investment if it is held to maturity andexpressed as an annual rate.14. S&P / Moody’s Credit RatingStandard & Poor’s / Moody’s are the independent financial credit ratingagencies. A bond rating system provided by Standard & Poor’s (S&P) is torate the quality of bonds based on the rating agency’s assessment of thequality of the bonds (e.g., AAA is best quality, A- is a lower quality than AAA,etc.). A rating of BBB- is the lowest S&P credit rating that is still classified asinvestment grade.15. Latest Fund Expenses Ratio (where applicable)The total cost of the funds expenses expressed as a percentage of its netasset value.16. Fund Allocation by Asset ClassThe structure of a portfolio - namely the allocation of specific portions of itacross different asset classes; that is, equities, bonds and cash.8761. 2. 3. /4. Geographical Breakdown 5Fidelity Advantage Portfolio Fund - Global Equity FundAs of 30/4/2013Fund Descriptor Investment Objective Fund Details Fidelity InvestorHotline15Fund (852) Commentary^ 2629 262965. 6. 7. /Fund Performance Cumulative Performance YTD 3 Months 1 Year 3 Years 5 Years 10 Years Since LaunchOrdinary 9.72% 4.96% 14.46% 26.49% 4.04% - 101.00%Administration 9.57% 4.85% 13.98% 24.85% 1.80% - 92.40%Savings 9.50% 4.82% 13.86% 24.61% 1.48% - 91.40%Dollar Cost Averaging Return 1 Ordinary N/A N/A 13.09% 19.86% 30.49% - 36.81%Administration N/A N/A 12.85% 19.06% 28.97% - 33.65%Savings N/A N/A 12.78% 18.92% 28.75% - 33.25%Cumulative Performance (Ordinary Class)Annual Performance Ordinary Administration Savings2012 17.59% 17.07% 17.00%2011 -10.15% -10.50% -10.54%2010 12.82% 12.26% 12.23%2009 32.39% 31.77% 31.68%2008 -43.67% -43.88% -43.92%2007 19.90% 19.26% 19.23%2006 18.47% 17.98% 17.85%2005 11.62% 11.15% 11.08%Top 10 Holdings Industry Breakdown * Others may include cash, account payables, accountreceivables and/or other industries.Fund Allocation by Asset Class 16# May include cash, account payables and account receivables.Fidelity InvestorHotline(852) 2629 26298. 9. 10. 11. 3 33612. 1%55%13. 14. //AAAA-AAABBB-15. 16.

Investment involves risks. Past performance is not indicative of future performance. Please refer to the Explanatory Memorandum of Fidelity Advantage PortfolioFund for further information including the risk factors. Investment in the Global Equity Fund, the Growth Fund, the Balanced Fund, the Stable Growth Fund andthe Capital Stable Fund (“Restricted Offering Funds”) of the Fidelity Advantage Portfolio Fund is not available to the general investing public. Investments in theRestricted Offering Funds are available only to Professional Investors, ORSO and MPF retirement schemes, their related Approved Pooled Investment Funds,or those individuals who have recently been or still are members of an ORSO or MPF retirement scheme. If you are an individual retail investor who is not aProfessional Investor or current or former member of an ORSO or MPF retirement scheme wishing to invest your accrued benefits and want to invest in Fidelitymanaged funds, please contact Fidelity for further details about which specific investment funds are available to the general investing public. FIL Limited and itssubsidiaries are commonly referred to as Fidelity or Fidelity Worldwide Investment. Fidelity only gives information about its products and services. Fidelity, FidelityWorldwide Investment, the Fidelity Worldwide Investment logo and F symbol are trademarks of FIL Limited. This material is issued by FIL Investment Management(Hong Kong) Limited and has not been reviewed by the Securities and Futures Commission (“SFC”).FidelityFidelity Worldwide InvestmentFIL Limited FidelityFidelity Worldwide InvestmentFidelity Worldwide InvestmentFFIL Limited

Fidelity Investor Hotline(852) 2629 2629Fidelity Websitewww.fidelity.com.hkFidelity, Fidelity Worldwide Investment, the Fidelity Worldwide Investment logo and F symbol are trademarks of FIL Limited. This material is issued by FILInvestment Management (Hong Kong) Limited and has not been reviewed by the Securities and Futures Commission (“SFC”).FidelityFidelity Worldwide InvestmentFidelity Worldwide Investment FFIL Limited