Fidelity Investments Canada Ltd. announced Monday its proposed expansion of the mandates of four of its sector-specific Focus funds.

Fidelity will be asking unitholders to consider a proposal to shift the investment objectives of these funds from investing primarily in U.S. companies as they currently do, to investing in companies anywhere in the world.

The four funds are: Fidelity Focus Consumer Industries Fund; Fidelity Focus Financial Services Fund; Fidelity Focus Health Care Fund; and Fidelity Focus Technology Fund.

Unitholders in Fidelity RSP funds and shareholders in Fidelity classes based on the four Focus funds are also eligible to vote on the proposed changes, even thought they do not own units of the Focus funds directly.

No other Fidelity funds are affected by these proposed changes. Fidelity Focus Natural Resources Fund and Fidelity Focus Telecommunications Fund already have global mandates.)

According to Fidelity, shifting the four Focus funds to a global mandate will give their unitholders the benefits of the potential for even greater regional diversification.

Full details of the proposed changes will be mailed to unitholders of record in the Focus funds and the RSP funds, as well as to shareholders of record in the Classes.

Fidelity will be holding a unitholder meeting for each fund on May 28 in Toronto.

If unitholders approve the changes, the new investment objectives will be effective June 2.