SEC Info - Fidelity School Street Trust - ‘NSAR-A’ for 6/30/00

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Fidelity School Street Trust – ‘NSAR-A’ for 6/30/00

As of: Monday, 8/28/00 · For: 6/30/00 · Accession #: 215829-0-13 · File #: 811-02676

  As Of               Filer                 Filing    For·On·As Docs:Size

 8/28/00  Fidelity School Street Trust      NSAR-A      6/30/00   25:322K

Semi-Annual Report by an Investment Company — Form N-SAR — ICA’40
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: NSAR-A      N-SAR (6.1)                                           27    114K 
 6: EX-99       Miscellaneous Exhibit                                  6±    25K 
 7: EX-99       Miscellaneous Exhibit                                  5±    24K 
 8: EX-99       Miscellaneous Exhibit                                  5±    24K 
 9: EX-99       Miscellaneous Exhibit                                  6±    28K 
10: EX-99       Miscellaneous Exhibit                                  6±    28K 
11: EX-99       Miscellaneous Exhibit                                  6±    28K 
12: EX-99       Miscellaneous Exhibit                                  6±    28K 
13: EX-99       Miscellaneous Exhibit                                  6±    28K 
14: EX-99       Miscellaneous Exhibit                                  6±    28K 
15: EX-99       Miscellaneous Exhibit                                  6±    28K 
16: EX-99       Miscellaneous Exhibit                                  6±    28K 
17: EX-99       Miscellaneous Exhibit                                  4±    20K 
18: EX-99       Miscellaneous Exhibit                                  4±    20K 
19: EX-99       Miscellaneous Exhibit                                  4±    20K 
20: EX-99       Miscellaneous Exhibit                                  3±    13K 
21: EX-99       Miscellaneous Exhibit                                  4±    16K 
22: EX-99       Miscellaneous Exhibit                                  4±    15K 
23: EX-99       Miscellaneous Exhibit                                  4±    16K 
24: EX-99       Miscellaneous Exhibit                                 24±    93K 
25: EX-99       Miscellaneous Exhibit                                  7±    27K 
 5: EX-27       FDS International Bond                                 3±    13K 
 2: EX-27       FDS New Markets Income                                 3±    13K 
 3: EX-27       FDS Sp. Int. Muni. Inc.                                3±    14K 
 4: EX-27       FDS Strategic Inc.                                     3±    13K

‘NSAR-A’ — N-SAR (6.1)

SEC Info℠ rendering: Data from the Answer File, which may only contain updates to a prior Form N-SAR

Form N-SAR

Semi-Annual Report by an Open-End Investment Company

Report
Registrant: Fidelity School Street Trust — List all N-SARs

Semi-Annual Report (at mid-year) for the 1st-half period ended: 6/30/00

Were there any Answer File errors in the Filing? None FoundNone Found by SEC InfoNot Checked by the FilerOne or more Found by SEC Info
Was the Answer File completed by the Registrant? Yes

Is this an Amendment to a previous Report? No
Is this a change to a previous Report? No
Registrant
1. SEC CIK: 215829
SEC File #: 811-02676

Telephone #: 603-791-7488
2. Address: 82 Devonshire Street
Boston, MA 02109
3. Is this the first Form N-SAR filed by the Registrant? No
4. Is this the final Form N-SAR filed by the Registrant? No
Funds/Series ↑Top of Form N-SAR
7. Is the Registrant a Funds/Series (multiple portfolios) company? Yes

The number of separate Funds/Series (portfolios) at period end: 4
The number of separate Funds/Series (portfolios) reported here: 4...

N-SAR S# Fund/Series — Filings for F/S#… ⇒ Symbols
↓Information Common to All
↓ Series 2: Fidelity International Bond Fund — S#37007
↓ Series 3: Fidelity New Markets Income Fund — S#7187
↓ Series 4: Fidelity Strategic Income Fund — S#7188
↓ Series 1: Spartan Intermediate Municipal Income Fund — N-SARs
Family of Investment Companies
19. Is the Registrant/Series part of a “family” of investment companies? Yes

Total number of registered management investment companies, Series
and portfolios (excluding any Unit Investment Trusts) in the family: 236

The Identification Code of the family for Form N-SAR Filings: FIDELITYZZ
Investment Company Type
27. Is the Registrant an “open-end” investment company? Yes, Open-End
Additional Disclosures
77. Did the Registrant file any additional Exhibits with the filing of this
Report (listed here and filed either herewith — as one of the ‘EX-99.*’
↑Exhibits in this Filing — or separately and incorporated by reference)? Yes

EX-99.77C: Matters Submitted to a Vote of Security Holders? Yes

EX-99.77Q1: Other Disclosure? Yes
Subsidiaries
78. Does the Registrant have any wholly-owned investment company
subsidiaries whose operating and financial data are consolidated with
that of the Registrant in this Report? No
All Series ↑List of 4 Funds/Series Reported Here

Information Common to All Funds/Series
All: Principal Underwriter
11.1 Name: Fidelity Distributors Corp.
SEC File #: 008-08775
Location: Boston, MA
All: Independent Public Accountant
13.1 Name: Pricewaterhousecoopers LLP
Location: Boston, MA
All: Affiliated Broker/Dealer
14.1 Name: Fidelity Distributors Corp.
SEC File #: 008-08775
14.2 Name: Fidelity Brokerage Services, Inc.
SEC File #: 008-23292
14.3 Name: Fidelity Brokerage Services Japan LLC
14.4 Name: National Financial Service Corp.
SEC File #: 008-26740
14.5 Name: Fidelity Brokerage Services
14.6 Name: Fidelity Securities Ltd.
14.7 Name: Fidelity Investments Canada Ltd.
14.8 Name: FMR U.K. Holdings Ltd.
All: Custodian
18. Does the Registrant’s/Series’ Custodian(s) maintain some or all of the
Registrant’s/Series’ securities in a central depository or book-entry
system pursuant to Rule 17f-4? Yes
All: Brokerage Commissions Paid on Portfolio Transactions
20. The brokers who received the largest amount of gross brokerage
commissions during the period:
20.1 Broker: Pactual Capital Corp.
IRS #: 13-3719945
Commissions paid ($000s): 4
20.2 Broker: Kleinwort Benson
Commissions paid ($000s): 1
20.3 Broker: Donaldson Lufkin & Jenrette
IRS #: 13-2741729
Commissions paid ($000s): 1
20.4 Broker: Paribas Corp.
IRS #: 13-3235334
Commissions paid ($000s): 1
20.5 Broker: Bear Stearns & Co.
IRS #: 13-3299429
Commissions paid ($000s): 1
21. Total brokerage commissions paid by the Registrant during the period:
Aggregate paid ($000s): 8
All: Portfolio Transactions with Entities Acting as Principals
22. The entities acting as principals with whom the Registrant did the
largest amount of portfolio transactions, based on total value of
principal, during the period:
22.1 Entity: Municipal Central Cash Fund
IRS #: 04-3333397
Registrant’s purchases ($000s): 117,356
Registrant’s sales ($000s): 104,433
22.2 Entity: Salomon Smith Barney, Inc.
IRS #: 11-2418191
Registrant’s purchases ($000s): 20,627
Registrant’s sales ($000s): 23,967
22.3 Entity: Deutsche Bank Securities, Inc.
IRS #: 13-2730828
Registrant’s purchases ($000s): 25,725
Registrant’s sales ($000s): 15,772
22.4 Entity: Morgan Stanley & Co., Inc.
IRS #: 13-2655998
Registrant’s purchases ($000s): 19,287
Registrant’s sales ($000s): 14,293
22.5 Entity: Merrill Lynch, Pierce, Fenner & Smith
IRS #: 13-5674085
Registrant’s purchases ($000s): 9,083
Registrant’s sales ($000s): 18,359
22.6 Entity: Morgan (J.P.) Securities
IRS #: 13-3224016
Registrant’s purchases ($000s): 5,298
Registrant’s sales ($000s): 21,935
22.7 Entity: Bear Stearns & Co.
IRS #: 13-3299429
Registrant’s purchases ($000s): 15,810
Registrant’s sales ($000s): 284
22.8 Entity: Goldman Sachs & Co.
IRS #: 13-5108880
Registrant’s purchases ($000s): 7,854
Registrant’s sales ($000s): 8,021
22.9 Entity: Paine Webber, Inc.
IRS #: 13-2638166
Registrant’s purchases ($000s): 13,548
Registrant’s sales ($000s): 2,285
22.10 Entity: National Westminster Bank plc
Registrant’s purchases ($000s): 7,314
Registrant’s sales ($000s): 5,206
23. Total purchase/sale transactions by the Registrant during the period:
Aggregate purchases ($000s): 3,455,159
Aggregate sales ($000s): 289,814
All: Considerations which Affected the Participation of Brokers or Dealers
26. Considerations which affected the participation of brokers or dealers or
other entities in commissions or other compensation paid on portfolio
transactions of the Registrant:

Consideration?
Sales of the Registrant’s/Series’ shares ............................... Yes
Receipt of investment research and statistical info .................... Yes
Receipt of quotations for portfolio valuations ......................... No
Ability to execute portfolio transactions to obtain the best price
and execution ........................................................ Yes
Receipt of telephone line and wire services ............................ No
Broker or Dealer which is an affiliated person ......................... Yes
An arrangement to return or credit part or all of commissions or
profits thereon...
To an Investment Adviser or Principal Underwriter, or to an
affiliated person of either ...................................... Yes
To the Registrant .................................................. Yes
Other .................................................................. Yes
All: Fidelity Bond in Effect at Fiscal Year End
80. Insurer: American International Specialty Lines Ins Co.
2nd Insurer: Federal Insurance Co.

Aggregate face amount of coverage for the Registrant/Series on all bonds
on which it is named as an insured ($000s): 220,000
81. Is the bond part of a joint fidelity bond(s) shared with other
investment companies or other entities? Yes

How many other investment companies or other entities are covered by the
bond (counting each Fund/Series as a separate investment company): 232
82. Does the mandatory coverage of the fidelity bond have a deductible? Yes

The amount of the deductible ($000s): 400
83. Were any claims with respect to this Registrant/Series filed under the
bond during the period? No
84. Were any losses incurred with respect to this Registrant/Series that
could have been filed as a claim under the fidelity bond but were not? No
85. Are the Registrant’s/Series’ Officers and Directors covered as Officers
and Directors of the Registrant/Series under any errors and omissions
insurance policy owned by the Registrant/Series or anyone else? Yes

Were any claims filed under such policy during the period with respect
to the Registrant/Series? No
Series 1 ↑Information Common to All Funds/Series ↑List of 4 Funds/Series
7. Name: Spartan Intermediate Municipal Income Fund — N-SARs

Is this the final Form N-SAR filed for this Fund/Series? No
S 1: Investment Adviser
8.1 Name: Fidelity Management & Research Co. (FMR)
Role: Adviser
SEC File #: 801-07884
Location: Boston, MA
8.2 Name: Fidelity Investments Money Management (Fimm)
Role: Sub-Adviser
SEC File #: 801-34590
Location: Merrimack, NH
S 1: Shareholder Servicing/Transfer Agent
12.1 Name: Citibank, N.A.
Location: New York, NY
12.2 Name: Fidelity Service Co., Inc.
SEC File #: 084-05679
Location: Boston, MA
S 1: Custodian
15.1 Name: Citibank, N.A.
Role: Custodian
Location: New York, NY

Type of custody: Section 17(f)(1) — Bank
S 1: Holdings of Securities Issued by Registrant’s/Series’ Brokers or Dealers
24. At period end, did the Registrant/Series hold any securities of the
Registrant’s/Series’ regular brokers or dealers, or of the parents of
such brokers or dealers, that derive more than 15% of gross revenue from
securities-related activities? No
S 1: Sales and Repurchases
28. Monthly total Net Asset Value (NAV) of sales and repurchases of the
Registrant’s/Series’ shares:
1st Month of period: ($000s)
Total NAV of shares sold:
New sales (including exchanges) ............................ 31,068
Reinvestment of dividends and distributions ................ 3,153
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 43,391
2nd Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 30,265
Reinvestment of dividends and distributions ................ 2,966
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 35,339
3rd Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 25,657
Reinvestment of dividends and distributions ................ 3,161
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 25,659
4th Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 26,911
Reinvestment of dividends and distributions ................ 3,081
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 34,298
5th Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 10,742
Reinvestment of dividends and distributions ................ 3,144
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 21,463
6th Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 37,535
Reinvestment of dividends and distributions ................ 3,043
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 16,602

Total of all months: ($000s)
Total NAV of shares sold:
New sales (including exchanges) ............................ 162,178
Reinvestment of dividends and distributions ................ 18,548
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 176,752

Total NAV of the Registrant’s/Series’ share sales during the period
subject to a sales load ($000s): 0
S 1: Sales Load (Front-End or Deferred) and Fees (Redemption or Maintenance)
29. Was a front-end sales load deducted from any share sales during the
period? No
34. Did the Registrant/Series impose a deferred or contingent deferred sales
load during the period? No
37. Did the Registrant/Series impose a redemption fee other than a deferred
or contingent sales load during the period? No
39. Were any account maintenance fees or other administrative fees imposed
directly on shareholders during the period? No
S 1: Payment Plan for the Distribution of Fund Shares
40. During the period, did the Registrant/Series have a plan of distribution
adopted pursuant to Rule 12b-1? Yes
41. During the period, did the Registrant/Series use its assets directly to
make payments under the 12b-1 plan? No
44. If an Investment Adviser or other affiliated person of the
Registrant/Series made unreimbursed payments pursuant to the 12b-1 plan,
the total amount of such payments ($000s): 0
S 1: Advisory Fee
45. Did the Registrant/Series have an advisory contract during the period? Yes
46. Did the Registrant/Series pay more than one Investment Adviser directly
for investment advice during the period? No
47. Was the Registrant’s/Series’ advisory fee based solely on a percentage
of its assets? No
49. Was the Registrant’s/Series’ advisory fee during the period based solely
on a percentage of its income? No
50. Was the Registrant’s/Series’ advisory fee during the period based on
some combined percentage of its income and assets? Yes
51. Was the Registrant’s/Series’ advisory fee during the period based in
whole or in part on its investment performance? No
52. Was the Registrant’s/Series’ advisory fee during the period based in
whole or in part on the assets, income or performance of other
Registrants? No
53. Were the expenses of the Registrant/Series limited or reduced at any
time during the period by some agreement or understanding other than by
Blue Sky Laws? Yes

Was the limitation that applied during the period based on...
Assets? Yes
Income? No
54. Indicated below are whether services were supplied or paid for wholly or
in substantial part by Investment Adviser(s) or Administrator(s) in
connection with the advisory or administrative contract(s) but for which
the Adviser(s) or Administrator(s) are not reimbursed by the Registrant:

Provided to the Registrant?
Occupancy and office rental ............................................ Yes
Clerical and bookkeeping services ...................................... Yes
Accounting services .................................................... No
Services of independent auditors ....................................... No
Services of outside counsel ............................................ No
Registration and filing fees ........................................... No
Stationery, supplies and printing ...................................... Yes
Salaries & compensation of Registrant’s interested Directors ........... Yes
Salaries & compensation of Registrant’s disinterested Directors ........ No
Salaries & compensation of Registrant’s Officers who aren’t Directors .. Yes
Reports to current shareholders ........................................ No
Determination of offering and redemption prices ........................ No
Trading department ..................................................... Yes
Prospectus preparation and printing for current shareholders ........... No
Other .................................................................. Yes
S 1: Miscellaneous Info
55. Did the Registrant/Series have any of the following outstanding at any
time during the period which exceeded 1% of aggregate net assets:
Overdrafts? No
Bank loans? No
56. During the period, did the Registrant’s/Series’ Investment Adviser(s)
have advisory clients other than investment companies? Yes
57. Did the Registrant/Series adjust the number of its shares outstanding by
means of a stock split or stock dividend? No
S 1: Classification and Asset Allocation
58. Is the Registrant/Series a Separate Account of an insurance company? No
59. Is the Registrant/Series a management investment company? Yes
60. Was the Registrant/Series a diversified investment company at any time
during the period? Yes

Was the Registrant/Series a diversified investment company at the end of
the period? Yes
61. The lowest minimum initial investment required by the Registrant/Series
from an investor that is not an employee or otherwise affiliated with
the Registrant/Series, its Investment Adviser, Principal Underwriter or
other affiliated entity: $10,000
62. Does the Registrant/Series invest primarily in debt securities,
including convertible debt securities, options & futures on debt
securities or indices of debt securities? Yes

The percentage of net assets in each type at period end:

Debt — Short-Term Maturities
U.S. Treasury ............................... 0.0%
U.S. Government Agency ...................... 0.0
Repurchase agreements ....................... 0.0
State and Municipal – tax-free .............. 0.0
Bank certificates of deposit – domestic ..... 0.0
Bank certificates of deposit – foreign ...... 0.0
Bankers acceptances ......................... 0.0
Commercial paper – taxable .................. 0.0
Time deposits ............................... 0.0
Options ..................................... 0.0
All other ................................... 1.8

Debt — Intermediate & Long-Term Maturities
U.S. Treasury ............................... 0.0%
U.S. Government Agency ...................... 0.0
State and Municipal – tax-free .............. 97.4
Corporate ................................... 0.0
All other ................................... 0.0

Non-Debt
Investments other than debt securities ...... 0.0%
63. The dollar-weighted average portfolio maturity at period end in days or,
if longer than one year, in years (to one decimal place):
Days: 0
Years: 8.3
64. Is the timely payment of principal and interest on any of the
instruments listed in Item 62 insured or guaranteed by an entity other
than the issuer? Yes

Is the issuer of any instrument covered in Item 62 delinquent or in
default as to payment of principal or interest at period end? No
66. Is the Registrant/Series a Fund that usually invests in equity
securities, options & futures on equity securities, indices of equity
securities or securities convertible into equity securities? No
67. Is the Registrant/Series a “balanced” Fund? No
68. Does the Registrant/Series have more than 50% of its net assets at
period end invested in the securities of issuers...
Engaged primarily in production or distribution of precious metals? No
Located primarily in countries other than the United States? No
69. Is the Registrant/Series an index Fund? No
S 1: Investment Practices
70. Activities that are permitted by the Registrant’s/Series’ investment
policies, and which were engaged in during the period:

Activity Permitted Engaged In
Writing or investing in repurchase agreements? No –
Writing or investing in options on equities? No –
Writing or investing in options on debt securities? Yes No
Writing or investing in options on stock indices? No –
Writing or investing in interest rate futures? Yes to both
Writing or investing in stock index futures? No –
Writing or investing in options on futures? Yes No
Writing or investing in options on stock index futures? No –
Writing or investing in other commodity futures? No –
Investments in restricted securities? Yes No
Investments in shares of other investment companies? Yes to both
Investments in securities of foreign issuers? No –
Currency exchange transactions? No –
Loaning portfolio securities? No –
Borrowing of money? Yes No
Purchases/sales by certain exempted affiliated persons? Yes to both
Margin purchases? No –
Short selling? No –
S 1: Portfolio Turnover
71. Portfolio turnover rate for the period:
Purchases ($000s): 88,597
Sales ($000s): 112,190

Monthly average Value of portfolio ($000s): 1,038,734

Percent turnover (lesser of Purchases or Sales, divided by Value): 9%
S 1: Financial Info — Income and Expenses
72. The number of months covered by the values in Items 72 and 73: 6

Income ($000s)
Net interest income .............................................. 29,355
Net dividend income .............................................. –
Account maintenance fees ......................................... –
Net other income ................................................. –

Expenses ($000s)
Advisory fees .................................................... 1,993
Administrator fees ............................................... –
Salaries and other compensation .................................. –
Shareholder Servicing Agent fees ................................. 430
Custodian fees ................................................... 11
Postage .......................................................... –
Printing expenses ................................................ –
Directors’ fees .................................................. 2
Registration fees ................................................ 50
Taxes ............................................................ –
Interest ......................................................... –
Bookkeeping fees paid to anyone performing this service .......... 130
Auditing fees .................................................... 21
Legal fees ....................................................... 7
Marketing/distribution payments, incl. Rule 12b-1 plan payments .. –
Amortization of organization expenses ............................ –
Shareholder meeting expenses ..................................... –
Other expenses ................................................... 15
Total expenses ................................................... 2,659

Expense reimbursements ($000s): 3

Net investment income ($000s): 26,699

Realized capital gains ($000s): 0
Realized capital losses ($000s): 2,530

Net unrealized appreciation during the period ($000s): 10,570
Net unrealized depreciation during the period ($000s): 0

Total income dividends for which the record date passed during the
period ($000s): 26,244

Total capital gains distributions for which the record date passed
during the period ($000s): 0
73. Distributions per share for which the record date passed during the
period, shown in fractions of a cent, if so declared:

Dividends from net investment income: $0.2360

Distribution of capital gains: $0.0000
Other distributions: $0.0000
S 1: Financial Info — Condensed Balance Sheet Data
74. Assets ($000s)
Cash ............................................................. –
Repurchase agreements ............................................ –
Short-term debt securities, other than repurchase agreements ..... –
Long-term debt securities, including convertible debt ............ 1,047,728
Preferred, conv. preferred and adjustable-rate preferred stock ... –
Common stock ..................................................... –
Options on equities .............................................. –
Options on all futures ........................................... –
Other investments ................................................ 18,924
Receivables from portfolio instruments sold ...................... 1,783
Receivables from affiliated persons .............................. –
Other receivables ................................................ 15,734
All other assets ................................................. –
Total assets ..................................................... 1,084,169

Liabilities ($000s)
Payables for portfolio instruments purchased ..................... 6,255
Amounts owed to affiliated persons ............................... 328
Senior long-term debt ............................................ –
Other liabilities:
Reverse repurchase agreements .................................. –
Short sales .................................................... –
Written options ................................................ –
All other liabilities .......................................... 2,266

Equity ($000s)
Senior equity .................................................... –
Net assets of common shareholders ................................ 1,075,320

Number of shares outstanding (000s): 113,299

Net Asset Value (NAV) per share (to nearest cent): $9.49

Total number of shareholder accounts: 19,624

Total value of assets in segregated accounts ($000s): 0
75. Monthly average net assets during the period ($000s): 1,049,191
Series 2 ↑Information Common to All Funds/Series ↑List of 4 Funds/Series
7. Name: Fidelity International Bond Fund — S#37007

Is this the final Form N-SAR filed for this Fund/Series? No
S 2: Investment Adviser
8.1 Name: Fidelity Management & Research Co. (FMR)
Role: Adviser
SEC File #: 801-07884
Location: Boston, MA
8.2 Name: Fidelity Management & Research (U.K.), Inc.
Role: Sub-Adviser
SEC File #: 801-28773
Location: London
England
8.3 Name: Fidelity Management & Research (Far East) Inc.
Role: Sub-Adviser
SEC File #: 801-28774
Location: Tokyo
Japan
8.4 Name: Fidelity Int’L Investment Advisors (U.K.) Ltd.
Role: Sub-Adviser
Location: London
England
8.5 Name: Fidelity Investments Japan Ltd.
Role: Sub-Adviser
Location: Tokyo
Japan
8.6 Name: Fidelity Int’L Investment Advisors
Role: Sub-Adviser
Location: Hamilton
Bermuda
S 2: Shareholder Servicing/Transfer Agent
12.1 Name: Fidelity Service Co., Inc.
SEC File #: 084-05679
Location: Boston, MA
12.2 Name: (See a prior Form N-SAR for who was...) Deleted
S 2: Custodian
15.1 Name: Chase Manhattan Bank
Role: Custodian
Location: New York, NY

Type of custody: Section 17(f)(1) — Bank
S 2: Holdings of Securities Issued by Registrant’s/Series’ Brokers or Dealers
24. At period end, did the Registrant/Series hold any securities of the
Registrant’s/Series’ regular brokers or dealers, or of the parents of
such brokers or dealers, that derive more than 15% of gross revenue from
securities-related activities? No
S 2: Sales and Repurchases
28. Monthly total Net Asset Value (NAV) of sales and repurchases of the
Registrant’s/Series’ shares:
1st Month of period: ($000s)
Total NAV of shares sold:
New sales (including exchanges) ............................ 2,643
Reinvestment of dividends and distributions ................ 261
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 6,313
2nd Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 4,108
Reinvestment of dividends and distributions ................ 227
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 2,031
3rd Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 2,139
Reinvestment of dividends and distributions ................ 241
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 2,668
4th Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 1,402
Reinvestment of dividends and distributions ................ 224
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 4,096
5th Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 1,598
Reinvestment of dividends and distributions ................ 234
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 1,397
6th Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 1,575
Reinvestment of dividends and distributions ................ 235
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 1,213

Total of all months: ($000s)
Total NAV of shares sold:
New sales (including exchanges) ............................ 13,465
Reinvestment of dividends and distributions ................ 1,422
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 17,718

Total NAV of the Registrant’s/Series’ share sales during the period
subject to a sales load ($000s): 0
S 2: Sales Load (Front-End or Deferred) and Fees (Redemption or Maintenance)
29. Was a front-end sales load deducted from any share sales during the
period? No
34. Did the Registrant/Series impose a deferred or contingent deferred sales
load during the period? No
37. Did the Registrant/Series impose a redemption fee other than a deferred
or contingent sales load during the period? No
39. Were any account maintenance fees or other administrative fees imposed
directly on shareholders during the period? No
S 2: Payment Plan for the Distribution of Fund Shares
40. During the period, did the Registrant/Series have a plan of distribution
adopted pursuant to Rule 12b-1? Yes
41. During the period, did the Registrant/Series use its assets directly to
make payments under the 12b-1 plan? No
44. If an Investment Adviser or other affiliated person of the
Registrant/Series made unreimbursed payments pursuant to the 12b-1 plan,
the total amount of such payments ($000s): 0
S 2: Advisory Fee
45. Did the Registrant/Series have an advisory contract during the period? Yes
46. Did the Registrant/Series pay more than one Investment Adviser directly
for investment advice during the period? No
47. Was the Registrant’s/Series’ advisory fee based solely on a percentage
of its assets? No
49. Was the Registrant’s/Series’ advisory fee during the period based solely
on a percentage of its income? No
50. Was the Registrant’s/Series’ advisory fee during the period based on
some combined percentage of its income and assets? No
51. Was the Registrant’s/Series’ advisory fee during the period based in
whole or in part on its investment performance? No
52. Was the Registrant’s/Series’ advisory fee during the period based in
whole or in part on the assets, income or performance of other
Registrants? Yes
53. Were the expenses of the Registrant/Series limited or reduced at any
time during the period by some agreement or understanding other than by
Blue Sky Laws? Yes

Provided to the Registrant?
Occupancy and office rental ............................................ Yes
Clerical and bookkeeping services ...................................... Yes
Accounting services .................................................... No
Services of independent auditors ....................................... No
Services of outside counsel ............................................ No
Registration and filing fees ........................................... No
Stationery, supplies and printing ...................................... Yes
Salaries & compensation of Registrant’s interested Directors ........... Yes
Salaries & compensation of Registrant’s disinterested Directors ........ No
Salaries & compensation of Registrant’s Officers who aren’t Directors .. Yes
Reports to current shareholders ........................................ No
Determination of offering and redemption prices ........................ No
Trading department ..................................................... Yes
Prospectus preparation and printing for current shareholders ........... No
Other .................................................................. Yes
S 2: Miscellaneous Info
55. Did the Registrant/Series have any of the following outstanding at any
time during the period which exceeded 1% of aggregate net assets:
Overdrafts? No
Bank loans? No
56. During the period, did the Registrant’s/Series’ Investment Adviser(s)
have advisory clients other than investment companies? Yes
57. Did the Registrant/Series adjust the number of its shares outstanding by
means of a stock split or stock dividend? No
S 2: Classification and Asset Allocation
58. Is the Registrant/Series a Separate Account of an insurance company? No
59. Is the Registrant/Series a management investment company? Yes
60. Was the Registrant/Series a diversified investment company at any time
during the period? No

Was the Registrant/Series a diversified investment company at the end of
the period? No
61. The lowest minimum initial investment required by the Registrant/Series
from an investor that is not an employee or otherwise affiliated with
the Registrant/Series, its Investment Adviser, Principal Underwriter or
other affiliated entity: $2,500
62. Does the Registrant/Series invest primarily in debt securities,
including convertible debt securities, options & futures on debt
securities or indices of debt securities? Yes

The percentage of net assets in each type at period end:

Debt — Short-Term Maturities
U.S. Treasury ............................... 0.0%
U.S. Government Agency ...................... 0.0
Repurchase agreements ....................... 6.5
State and Municipal – tax-free .............. 0.0
Bank certificates of deposit – domestic ..... 0.0
Bank certificates of deposit – foreign ...... 0.0
Bankers acceptances ......................... 0.0
Commercial paper – taxable .................. 0.0
Time deposits ............................... 0.0
Options ..................................... 0.0
All other ................................... 0.0

Debt — Intermediate & Long-Term Maturities
U.S. Treasury ............................... 0.0%
U.S. Government Agency ...................... 0.0
State and Municipal – tax-free .............. 0.0
Corporate ................................... 19.0
All other ................................... 75.2

Non-Debt
Investments other than debt securities ...... 0.0%
63. The dollar-weighted average portfolio maturity at period end in days or,
if longer than one year, in years (to one decimal place):
Days: 0
Years: 0.0
64. Is the timely payment of principal and interest on any of the
instruments listed in Item 62 insured or guaranteed by an entity other
than the issuer? No

Is the issuer of any instrument covered in Item 62 delinquent or in
default as to payment of principal or interest at period end? Yes
65. In computations of Net Asset Value (NAV) per share, is any part of the
value attributed to instruments identified in Item 64.B (second
question) derived from insurance or guarantees? No
66. Is the Registrant/Series a Fund that usually invests in equity
securities, options & futures on equity securities, indices of equity
securities or securities convertible into equity securities? No
67. Is the Registrant/Series a “balanced” Fund? No
68. Does the Registrant/Series have more than 50% of its net assets at
period end invested in the securities of issuers...
Engaged primarily in production or distribution of precious metals? No
Located primarily in countries other than the United States? Yes
69. Is the Registrant/Series an index Fund? No
S 2: Investment Practices
70. Activities that are permitted by the Registrant’s/Series’ investment
policies, and which were engaged in during the period:

Activity Permitted Engaged In
Writing or investing in repurchase agreements? Yes to both
Writing or investing in options on equities? No –
Writing or investing in options on debt securities? Yes No
Writing or investing in options on stock indices? No –
Writing or investing in interest rate futures? Yes No
Writing or investing in stock index futures? No –
Writing or investing in options on futures? Yes No
Writing or investing in options on stock index futures? No –
Writing or investing in other commodity futures? No –
Investments in restricted securities? Yes to both
Investments in shares of other investment companies? Yes No
Investments in securities of foreign issuers? Yes to both
Currency exchange transactions? Yes to both
Loaning portfolio securities? Yes No
Borrowing of money? Yes No
Purchases/sales by certain exempted affiliated persons? Yes to both
Margin purchases? No –
Short selling? No –
S 2: Portfolio Turnover
71. Portfolio turnover rate for the period:
Purchases ($000s): 49,761
Sales ($000s): 52,420

Monthly average Value of portfolio ($000s): 58,466

Percent turnover (lesser of Purchases or Sales, divided by Value): 85%
S 2: Financial Info — Income and Expenses
72. The number of months covered by the values in Items 72 and 73: 6

Income ($000s)
Net interest income .............................................. 2,067
Net dividend income .............................................. –
Account maintenance fees ......................................... –
Net other income ................................................. –

Expenses ($000s)
Advisory fees .................................................... 213
Administrator fees ............................................... –
Salaries and other compensation .................................. –
Shareholder Servicing Agent fees ................................. 85
Custodian fees ................................................... 27
Postage .......................................................... –
Printing expenses ................................................ –
Directors’ fees .................................................. –
Registration fees ................................................ 14
Taxes ............................................................ –
Interest ......................................................... –
Bookkeeping fees paid to anyone performing this service .......... 30
Auditing fees .................................................... 28
Legal fees ....................................................... 1
Marketing/distribution payments, incl. Rule 12b-1 plan payments .. –
Amortization of organization expenses ............................ –
Shareholder meeting expenses ..................................... –
Other expenses ................................................... 6
Total expenses ................................................... 404

Expense reimbursements ($000s): 2

Net investment income ($000s): 1,665

Realized capital gains ($000s): 0
Realized capital losses ($000s): 1,372

Net unrealized appreciation during the period ($000s): 0
Net unrealized depreciation during the period ($000s): 810

Total income dividends for which the record date passed during the
period ($000s): 1,560

Dividends from net investment income: $0.2100

Distribution of capital gains: $0.0000
Other distributions: $0.0000
S 2: Financial Info — Condensed Balance Sheet Data
74. Assets ($000s)
Cash ............................................................. –
Repurchase agreements ............................................ 4,064
Short-term debt securities, other than repurchase agreements ..... –
Long-term debt securities, including convertible debt ............ 57,440
Preferred, conv. preferred and adjustable-rate preferred stock ... –
Common stock ..................................................... –
Options on equities .............................................. –
Options on all futures ........................................... –
Other investments ................................................ 1,154
Receivables from portfolio instruments sold ...................... 166
Receivables from affiliated persons .............................. –
Other receivables ................................................ 1,090
All other assets ................................................. –
Total assets ..................................................... 63,914

Liabilities ($000s)
Payables for portfolio instruments purchased ..................... 1,566
Amounts owed to affiliated persons ............................... 35
Senior long-term debt ............................................ –
Other liabilities:
Reverse repurchase agreements .................................. –
Short sales .................................................... –
Written options ................................................ –
All other liabilities .......................................... 121

Equity ($000s)
Senior equity .................................................... –
Net assets of common shareholders ................................ 62,192

Number of shares outstanding (000s): 7,405

Net Asset Value (NAV) per share (to nearest cent): $8.40

Total number of shareholder accounts: 13,574

Total value of assets in segregated accounts ($000s): 0
75. Monthly average net assets during the period ($000s): 62,946
Series 3 ↑Information Common to All Funds/Series ↑List of 4 Funds/Series
7. Name: Fidelity New Markets Income Fund — S#7187

Is this the final Form N-SAR filed for this Fund/Series? No
S 3: Investment Adviser
8.1 Name: Fidelity Management & Research Co.
Role: Adviser
SEC File #: 801-07884
Location: Boston, MA
8.2 Name: Fidelity Management & Research (U.K.), Inc.
Role: Sub-Adviser
SEC File #: 801-28773
Location: London
England
8.3 Name: Fidelity Management & Research (Far East) Inc.
Role: Sub-Adviser
SEC File #: 801-28774
Location: Tokyo
Japan
8.4 Name: Fidelity Int’L Investment Advisors (U.K.) Ltd.
Role: Sub-Adviser
Location: London
England
8.5 Name: Fidelity Investments Japan Ltd.
Role: Sub-Adviser
Location: Tokyo
Japan
8.6 Name: Fidelity Int’L Investment Advisors
Role: Sub-Adviser
Location: Hamilton
Bermuda
S 3: Shareholder Servicing/Transfer Agent
12.1 Name: Fidelity Service Co., Inc.
SEC File #: 084-05679
Location: Boston, MA
S 3: Custodian
15.1 Name: Chase Manhattan Bank
Role: Custodian
Location: New York, NY

Type of custody: Section 17(f)(1) — Bank
S 3: Holdings of Securities Issued by Registrant’s/Series’ Brokers or Dealers
24. At period end, did the Registrant/Series hold any securities of the
Registrant’s/Series’ regular brokers or dealers, or of the parents of
such brokers or dealers, that derive more than 15% of gross revenue from
securities-related activities? No
S 3: Sales and Repurchases
28. Monthly total Net Asset Value (NAV) of sales and repurchases of the
Registrant’s/Series’ shares:
1st Month of period: ($000s)
Total NAV of shares sold:
New sales (including exchanges) ............................ 11,370
Reinvestment of dividends and distributions ................ 1,223
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 10,581
2nd Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 9,430
Reinvestment of dividends and distributions ................ 1,133
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 6,266
3rd Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 12,898
Reinvestment of dividends and distributions ................ 1,243
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 8,789
4th Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 8,791
Reinvestment of dividends and distributions ................ 1,221
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 8,276
5th Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 8,232
Reinvestment of dividends and distributions ................ 1,391
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 9,990
6th Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 6,533
Reinvestment of dividends and distributions ................ 1,334
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 6,168

Total of all months: ($000s)
Total NAV of shares sold:
New sales (including exchanges) ............................ 57,254
Reinvestment of dividends and distributions ................ 7,545
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 50,070

Total NAV of the Registrant’s/Series’ share sales during the period
subject to a sales load ($000s): 0
S 3: Sales Load (Front-End or Deferred) and Fees (Redemption or Maintenance)
29. Was a front-end sales load deducted from any share sales during the
period? No
34. Did the Registrant/Series impose a deferred or contingent deferred sales
load during the period? No
37. Did the Registrant/Series impose a redemption fee other than a deferred
or contingent sales load during the period? Yes
38. Total amount of redemption fees other than deferred or contingent
deferred sales loads collected from redemptions and repurchases of the
Registrant’s/Series’ shares during the period ($000s): 144
39. Were any account maintenance fees or other administrative fees imposed
directly on shareholders during the period? No
S 3: Payment Plan for the Distribution of Fund Shares
40. During the period, did the Registrant/Series have a plan of distribution
adopted pursuant to Rule 12b-1? Yes
41. During the period, did the Registrant/Series use its assets directly to
make payments under the 12b-1 plan? No
44. If an Investment Adviser or other affiliated person of the
Registrant/Series made unreimbursed payments pursuant to the 12b-1 plan,
the total amount of such payments ($000s): 0
S 3: Advisory Fee
45. Did the Registrant/Series have an advisory contract during the period? Yes
46. Did the Registrant/Series pay more than one Investment Adviser directly
for investment advice during the period? No
47. Was the Registrant’s/Series’ advisory fee based solely on a percentage
of its assets? No
49. Was the Registrant’s/Series’ advisory fee during the period based solely
on a percentage of its income? No
50. Was the Registrant’s/Series’ advisory fee during the period based on
some combined percentage of its income and assets? No
51. Was the Registrant’s/Series’ advisory fee during the period based in
whole or in part on its investment performance? No
52. Was the Registrant’s/Series’ advisory fee during the period based in
whole or in part on the assets, income or performance of other
Registrants? Yes
53. Were the expenses of the Registrant/Series limited or reduced at any
time during the period by some agreement or understanding other than by
Blue Sky Laws? Yes

Provided to the Registrant?
Occupancy and office rental ............................................ Yes
Clerical and bookkeeping services ...................................... Yes
Accounting services .................................................... No
Services of independent auditors ....................................... No
Services of outside counsel ............................................ No
Registration and filing fees ........................................... No
Stationery, supplies and printing ...................................... Yes
Salaries & compensation of Registrant’s interested Directors ........... Yes
Salaries & compensation of Registrant’s disinterested Directors ........ No
Salaries & compensation of Registrant’s Officers who aren’t Directors .. Yes
Reports to current shareholders ........................................ No
Determination of offering and redemption prices ........................ No
Trading department ..................................................... Yes
Prospectus preparation and printing for current shareholders ........... No
Other .................................................................. Yes
S 3: Miscellaneous Info
55. Did the Registrant/Series have any of the following outstanding at any
time during the period which exceeded 1% of aggregate net assets:
Overdrafts? No
Bank loans? No
56. During the period, did the Registrant’s/Series’ Investment Adviser(s)
have advisory clients other than investment companies? Yes
57. Did the Registrant/Series adjust the number of its shares outstanding by
means of a stock split or stock dividend? No
S 3: Classification and Asset Allocation
58. Is the Registrant/Series a Separate Account of an insurance company? No
59. Is the Registrant/Series a management investment company? Yes
60. Was the Registrant/Series a diversified investment company at any time
during the period? No

The percentage of net assets in each type at period end:

Debt — Short-Term Maturities
U.S. Treasury ............................... 0.0%
U.S. Government Agency ...................... 0.0
Repurchase agreements ....................... 11.9
State and Municipal – tax-free .............. 0.0
Bank certificates of deposit – domestic ..... 0.0
Bank certificates of deposit – foreign ...... 0.0
Bankers acceptances ......................... 0.0
Commercial paper – taxable .................. 0.0
Time deposits ............................... 0.0
Options ..................................... 0.1
All other ................................... 0.0

Debt — Intermediate & Long-Term Maturities
U.S. Treasury ............................... 0.0%
U.S. Government Agency ...................... 0.0
State and Municipal – tax-free .............. 0.0
Corporate ................................... 11.8
All other ................................... 73.0

Non-Debt
Investments other than debt securities ...... 0.0%
63. The dollar-weighted average portfolio maturity at period end in days or,
if longer than one year, in years (to one decimal place):
Days: 0
Years: 0.0
64. Is the timely payment of principal and interest on any of the
instruments listed in Item 62 insured or guaranteed by an entity other
than the issuer? No

Is the issuer of any instrument covered in Item 62 delinquent or in
default as to payment of principal or interest at period end? Yes
65. In computations of Net Asset Value (NAV) per share, is any part of the
value attributed to instruments identified in Item 64.B (second
question) derived from insurance or guarantees? No
66. Is the Registrant/Series a Fund that usually invests in equity
securities, options & futures on equity securities, indices of equity
securities or securities convertible into equity securities? No
67. Is the Registrant/Series a “balanced” Fund? No
68. Does the Registrant/Series have more than 50% of its net assets at
period end invested in the securities of issuers...
Engaged primarily in production or distribution of precious metals? No
Located primarily in countries other than the United States? Yes
69. Is the Registrant/Series an index Fund? No
S 3: Investment Practices
70. Activities that are permitted by the Registrant’s/Series’ investment
policies, and which were engaged in during the period:

Activity Permitted Engaged In
Writing or investing in repurchase agreements? Yes to both
Writing or investing in options on equities? No –
Writing or investing in options on debt securities? Yes to both
Writing or investing in options on stock indices? No –
Writing or investing in interest rate futures? Yes No
Writing or investing in stock index futures? No –
Writing or investing in options on futures? Yes No
Writing or investing in options on stock index futures? No –
Writing or investing in other commodity futures? No –
Investments in restricted securities? Yes to both
Investments in shares of other investment companies? Yes No
Investments in securities of foreign issuers? Yes to both
Currency exchange transactions? Yes to both
Loaning portfolio securities? Yes No
Borrowing of money? Yes No
Purchases/sales by certain exempted affiliated persons? Yes to both
Margin purchases? No –
Short selling? No –
S 3: Portfolio Turnover
71. Portfolio turnover rate for the period:
Purchases ($000s): 311,209
Sales ($000s): 306,675

Monthly average Value of portfolio ($000s): 205,915

Percent turnover (lesser of Purchases or Sales, divided by Value): 149%
S 3: Financial Info — Income and Expenses
72. The number of months covered by the values in Items 72 and 73: 6

Income ($000s)
Net interest income .............................................. 11,357
Net dividend income .............................................. 29
Account maintenance fees ......................................... –
Net other income ................................................. -2

Expenses ($000s)
Advisory fees .................................................... 792
Administrator fees ............................................... –
Salaries and other compensation .................................. –
Shareholder Servicing Agent fees ................................. 215
Custodian fees ................................................... 38
Postage .......................................................... –
Printing expenses ................................................ –
Directors’ fees .................................................. 1
Registration fees ................................................ 30
Taxes ............................................................ –
Interest ......................................................... –
Bookkeeping fees paid to anyone performing this service .......... 70
Auditing fees .................................................... 27
Legal fees ....................................................... 4
Marketing/distribution payments, incl. Rule 12b-1 plan payments .. –
Amortization of organization expenses ............................ –
Shareholder meeting expenses ..................................... –
Other expenses ................................................... 16
Total expenses ................................................... 1,193

Expense reimbursements ($000s): 22

Net investment income ($000s): 10,213

Realized capital gains ($000s): 13,601
Realized capital losses ($000s): 0

Net unrealized appreciation during the period ($000s): 0
Net unrealized depreciation during the period ($000s): 5,107

Total income dividends for which the record date passed during the
period ($000s): 8,730

Dividends from net investment income: $0.4270

Distribution of capital gains: $0.0000
Other distributions: $0.0000
S 3: Financial Info — Condensed Balance Sheet Data
74. Assets ($000s)
Cash ............................................................. –
Repurchase agreements ............................................ 29,015
Short-term debt securities, other than repurchase agreements ..... –
Long-term debt securities, including convertible debt ............ 187,320
Preferred, conv. preferred and adjustable-rate preferred stock ... –
Common stock ..................................................... 10
Options on equities .............................................. –
Options on all futures ........................................... –
Other investments ................................................ 20,004
Receivables from portfolio instruments sold ...................... 6,923
Receivables from affiliated persons .............................. –
Other receivables ................................................ 4,472
All other assets ................................................. –
Total assets ..................................................... 247,744

Liabilities ($000s)
Payables for portfolio instruments purchased ..................... 2,859
Amounts owed to affiliated persons ............................... 136
Senior long-term debt ............................................ –
Other liabilities:
Reverse repurchase agreements .................................. –
Short sales .................................................... –
Written options ................................................ –
All other liabilities .......................................... 544

Equity ($000s)
Senior equity .................................................... –
Net assets of common shareholders ................................ 244,205

Number of shares outstanding (000s): 20,975

Net Asset Value (NAV) per share (to nearest cent): $11.64

Total number of shareholder accounts: 25,293

Total value of assets in segregated accounts ($000s): 0
75. Monthly average net assets during the period ($000s): 234,257
Series 4 ↑Information Common to All Funds/Series ↑List of 4 Funds/Series
7. Name: Fidelity Strategic Income Fund — S#7188

Is this the final Form N-SAR filed for this Fund/Series? No
S 4: Investment Adviser
8.1 Name: Fidelity Management & Research Co. (FMR)
Role: Adviser
SEC File #: 801-07884
Location: Boston, MA
8.2 Name: Fidelity Management & Research (U.K.), Inc.
Role: Sub-Adviser
SEC File #: 801-28773
Location: London
England
8.3 Name: Fidelity Management & Research (Far East) Inc.
Role: Sub-Adviser
SEC File #: 801-28774
Location: Tokyo
Japan
8.4 Name: Fidelity Int’L Investment Advisors (U.K.) Ltd.
Role: Sub-Adviser
Location: London
England
8.5 Name: Fidelity Investments Japan Ltd.
Role: Sub-Adviser
Location: Tokyo
Japan
8.6 Name: Fidelity Int’L Investment Advisors
Role: Sub-Adviser
Location: Hamilton
Bermuda
8.7 Name: Fidelity Investments Money Management, Inc.
Role: Sub-Adviser
SEC File #: 801-34590
Location: Merrimack, NH
S 4: Shareholder Servicing/Transfer Agent
12.1 Name: Fidelity Service Co., Inc.
SEC File #: 084-05679
Location: Boston, MA
S 4: Custodian
15.1 Name: Bank of New York
Role: Custodian
Location: New York, NY

Type of custody: Section 17(f)(1) — Bank
S 4: Holdings of Securities Issued by Registrant’s/Series’ Brokers or Dealers
24. At period end, did the Registrant/Series hold any securities of the
Registrant’s/Series’ regular brokers or dealers, or of the parents of
such brokers or dealers, that derive more than 15% of gross revenue from
securities-related activities? No
S 4: Sales and Repurchases
28. Monthly total Net Asset Value (NAV) of sales and repurchases of the
Registrant’s/Series’ shares:
1st Month of period: ($000s)
Total NAV of shares sold:
New sales (including exchanges) ............................ 3,583
Reinvestment of dividends and distributions ................ 205
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 3,689
2nd Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 8,571
Reinvestment of dividends and distributions ................ 203
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 2,404
3rd Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 4,228
Reinvestment of dividends and distributions ................ 225
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 5,695
4th Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 3,229
Reinvestment of dividends and distributions ................ 217
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 3,134
5th Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 2,133
Reinvestment of dividends and distributions ................ 228
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 1,575
6th Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 3,572
Reinvestment of dividends and distributions ................ 235
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 1,391

Total of all months: ($000s)
Total NAV of shares sold:
New sales (including exchanges) ............................ 25,316
Reinvestment of dividends and distributions ................ 1,313
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 17,888

Total NAV of the Registrant’s/Series’ share sales during the period
subject to a sales load ($000s): 0
S 4: Sales Load (Front-End or Deferred) and Fees (Redemption or Maintenance)
29. Was a front-end sales load deducted from any share sales during the
period? No
34. Did the Registrant/Series impose a deferred or contingent deferred sales
load during the period? No
37. Did the Registrant/Series impose a redemption fee other than a deferred
or contingent sales load during the period? No
39. Were any account maintenance fees or other administrative fees imposed
directly on shareholders during the period? No
S 4: Payment Plan for the Distribution of Fund Shares
40. During the period, did the Registrant/Series have a plan of distribution
adopted pursuant to Rule 12b-1? Yes
41. During the period, did the Registrant/Series use its assets directly to
make payments under the 12b-1 plan? No
44. If an Investment Adviser or other affiliated person of the
Registrant/Series made unreimbursed payments pursuant to the 12b-1 plan,
the total amount of such payments ($000s): 0
S 4: Advisory Fee
45. Did the Registrant/Series have an advisory contract during the period? Yes
46. Did the Registrant/Series pay more than one Investment Adviser directly
for investment advice during the period? No
47. Was the Registrant’s/Series’ advisory fee based solely on a percentage
of its assets? No
49. Was the Registrant’s/Series’ advisory fee during the period based solely
on a percentage of its income? No
50. Was the Registrant’s/Series’ advisory fee during the period based on
some combined percentage of its income and assets? No
51. Was the Registrant’s/Series’ advisory fee during the period based in
whole or in part on its investment performance? No
52. Was the Registrant’s/Series’ advisory fee during the period based in
whole or in part on the assets, income or performance of other
Registrants? Yes
53. Were the expenses of the Registrant/Series limited or reduced at any
time during the period by some agreement or understanding other than by
Blue Sky Laws? Yes

Provided to the Registrant?
Occupancy and office rental ............................................ Yes
Clerical and bookkeeping services ...................................... Yes
Accounting services .................................................... No
Services of independent auditors ....................................... No
Services of outside counsel ............................................ No
Registration and filing fees ........................................... No
Stationery, supplies and printing ...................................... Yes
Salaries & compensation of Registrant’s interested Directors ........... Yes
Salaries & compensation of Registrant’s disinterested Directors ........ No
Salaries & compensation of Registrant’s Officers who aren’t Directors .. Yes
Reports to current shareholders ........................................ No
Determination of offering and redemption prices ........................ No
Trading department ..................................................... Yes
Prospectus preparation and printing for current shareholders ........... No
Other .................................................................. Yes
S 4: Miscellaneous Info
55. Did the Registrant/Series have any of the following outstanding at any
time during the period which exceeded 1% of aggregate net assets:
Overdrafts? No
Bank loans? No
56. During the period, did the Registrant’s/Series’ Investment Adviser(s)
have advisory clients other than investment companies? Yes
57. Did the Registrant/Series adjust the number of its shares outstanding by
means of a stock split or stock dividend? No
S 4: Classification and Asset Allocation
58. Is the Registrant/Series a Separate Account of an insurance company? No
59. Is the Registrant/Series a management investment company? Yes
60. Was the Registrant/Series a diversified investment company at any time
during the period? No

The percentage of net assets in each type at period end:

Debt — Short-Term Maturities
U.S. Treasury ............................... 0.0%
U.S. Government Agency ...................... 0.0
Repurchase agreements ....................... 5.1
State and Municipal – tax-free .............. 0.0
Bank certificates of deposit – domestic ..... 0.0
Bank certificates of deposit – foreign ...... 0.0
Bankers acceptances ......................... 0.0
Commercial paper – taxable .................. 0.0
Time deposits ............................... 0.0
Options ..................................... 0.0
All other ................................... 0.0

Debt — Intermediate & Long-Term Maturities
U.S. Treasury ............................... 28.6%
U.S. Government Agency ...................... 0.0
State and Municipal – tax-free .............. 0.0
Corporate ................................... 36.0
All other ................................... 26.4

Non-Debt
Investments other than debt securities ...... 3.3%
63. The dollar-weighted average portfolio maturity at period end in days or,
if longer than one year, in years (to one decimal place):
Days: 0
Years: 0.0
64. Is the timely payment of principal and interest on any of the
instruments listed in Item 62 insured or guaranteed by an entity other
than the issuer? No

Is the issuer of any instrument covered in Item 62 delinquent or in
default as to payment of principal or interest at period end? Yes
65. In computations of Net Asset Value (NAV) per share, is any part of the
value attributed to instruments identified in Item 64.B (second
question) derived from insurance or guarantees? No
66. Is the Registrant/Series a Fund that usually invests in equity
securities, options & futures on equity securities, indices of equity
securities or securities convertible into equity securities? No
67. Is the Registrant/Series a “balanced” Fund? No
68. Does the Registrant/Series have more than 50% of its net assets at
period end invested in the securities of issuers...
Engaged primarily in production or distribution of precious metals? No
Located primarily in countries other than the United States? No
69. Is the Registrant/Series an index Fund? No
S 4: Investment Practices
70. Activities that are permitted by the Registrant’s/Series’ investment
policies, and which were engaged in during the period:

Activity Permitted Engaged In
Writing or investing in repurchase agreements? Yes to both
Writing or investing in options on equities? No –
Writing or investing in options on debt securities? Yes to both
Writing or investing in options on stock indices? No –
Writing or investing in interest rate futures? Yes No
Writing or investing in stock index futures? No –
Writing or investing in options on futures? Yes No
Writing or investing in options on stock index futures? No –
Writing or investing in other commodity futures? No –
Investments in restricted securities? Yes to both
Investments in shares of other investment companies? Yes No
Investments in securities of foreign issuers? Yes to both
Currency exchange transactions? Yes to both
Loaning portfolio securities? No –
Borrowing of money? No –
Purchases/sales by certain exempted affiliated persons? Yes to both
Margin purchases? No –
Short selling? No –
S 4: Portfolio Turnover
71. Portfolio turnover rate for the period:
Purchases ($000s): 25,979
Sales ($000s): 17,993

Monthly average Value of portfolio ($000s): 42,628

Percent turnover (lesser of Purchases or Sales, divided by Value): 42%
S 4: Financial Info — Income and Expenses
72. The number of months covered by the values in Items 72 and 73: 6

Income ($000s)
Net interest income .............................................. 1,935
Net dividend income .............................................. 91
Account maintenance fees ......................................... –
Net other income ................................................. –

Expenses ($000s)
Advisory fees .................................................... 130
Administrator fees ............................................... –
Salaries and other compensation .................................. –
Shareholder Servicing Agent fees ................................. 30
Custodian fees ................................................... 12
Postage .......................................................... –
Printing expenses ................................................ –
Directors’ fees .................................................. –
Registration fees ................................................ 28
Taxes ............................................................ –
Interest ......................................................... –
Bookkeeping fees paid to anyone performing this service .......... 30
Auditing fees .................................................... 11
Legal fees ....................................................... 2
Marketing/distribution payments, incl. Rule 12b-1 plan payments .. –
Amortization of organization expenses ............................ –
Shareholder meeting expenses ..................................... –
Other expenses ................................................... 2
Total expenses ................................................... 245

Expense reimbursements ($000s): 1

Net investment income ($000s): 1,782

Realized capital gains ($000s): 0
Realized capital losses ($000s): 275

Net unrealized appreciation during the period ($000s): 0
Net unrealized depreciation during the period ($000s): 659

Total income dividends for which the record date passed during the
period ($000s): 1,639

Dividends from net investment income: $0.3350

Distribution of capital gains: $0.0000
Other distributions: $0.0000
S 4: Financial Info — Condensed Balance Sheet Data
74. Assets ($000s)
Cash ............................................................. 25
Repurchase agreements ............................................ 2,528
Short-term debt securities, other than repurchase agreements ..... –
Long-term debt securities, including convertible debt ............ 44,238
Preferred, conv. preferred and adjustable-rate preferred stock ... 1,465
Common stock ..................................................... 150
Options on equities .............................................. –
Options on all futures ........................................... –
Other investments ................................................ 674
Receivables from portfolio instruments sold ...................... 232
Receivables from affiliated persons .............................. –
Other receivables ................................................ 1,113
All other assets ................................................. –
Total assets ..................................................... 50,425

Liabilities ($000s)
Payables for portfolio instruments purchased ..................... 899
Amounts owed to affiliated persons ............................... 30
Senior long-term debt ............................................ –
Other liabilities:
Reverse repurchase agreements .................................. –
Short sales .................................................... –
Written options ................................................ –
All other liabilities .......................................... 128

Equity ($000s)
Senior equity .................................................... –
Net assets of common shareholders ................................ 49,368

Number of shares outstanding (000s): 5,332

Net Asset Value (NAV) per share (to nearest cent): $9.26

Total number of shareholder accounts: 1,822

Total value of assets in segregated accounts ($000s): 0
75. Monthly average net assets during the period ($000s): 45,295
Signature ↑Top of Form N-SAR
/s/ John H. Costello
Name: John H. Costello
Title: Assistant Treasurer

↑Top

Filing Submission 0000215829-00-000013 – Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

Fidelity School Street Trust – ‘NSAR-A’ for 6/30/00

As of: Monday, 8/28/00 · For: 6/30/00 · Accession #: 215829-0-13 · File #: 811-02676

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Semi-Annual Report by an Investment Company — Form N-SAR — ICA’40Filing Table of Contents

‘NSAR-A’ — N-SAR (6.1)

Semi-Annual Report by an Investment Company — Form N-SAR — ICA’40
Filing Table of Contents