This fund primarily directs at least 80% of its portfolio toward securities from emerging economies or investments with strong economic ties to these developing markets. Under a neutral market outlook, roughly 60% of its assets are invested in stocks and other equity-based instruments, while the remaining portion is allocated to bonds and various debt securities, which may include lower-rated options. The advisor strategically diversifies the fund's holdings across different emerging market sectors, utilizing the expertise of multiple Fidelity managers.