The fund's objective is to achieve returns in excess of the MSCI All Country World Index NR over the medium to long term. The fund has a diversified portfolio of typically 50 to 70 companies globally where demographic factors are likely to be the most important driver of companies earnings over the medium-to-long term. Fidelity Global Demographics Fund aims to exploit market inefficiencies by targeting the beneficiaries of demographic trends early, seeking out companies with innovative products and services that will address evolving demographic needs.