The Football Association are investigating whether Terry used racist language towards Ferdinand, an accusation the England captain firmly denies.
Fernandes, whose team meet Tottenham on Sunday afternoon, told BBC Radio 5 Live's Sportsweek programme the club have moved on.
"We've drawn a line under the matter," he said. "It's for the FA.
"Anton met the management, we're fully behind him, but we want to focus on the football now.
"It's not for us to throw judgement on the matter. It's in the hands of the correct people. We're fully behind our player.
"I haven't had any direct discussions on this with Anton. He's just thanked us for our support and he's focusing on today's [Sunday's] big game. We don't want him to be distracted from the main purpose."
Fernandes does not believe there is a big problem with racism in English football.
"Coming from a foreign country and having watched football for a long long time, I don't feel very much racism in football," he said. "It's improved tremendously.
"I'm a different colour as well. I feel very comfortable going to every ground, I think fans are focused on much more positive things.
"I'm not saying it's completely cleared up and we must continue to work at it but I think English football should be proud of the achievement it's made."