FORM N-PX
ANNUAL REPORT OF PROXY VOTING RECORD OF REGISTERED MANAGEMENT INVESTMENT COMPANY
INVESTMENT COMPANY ACT FILE NUMBER: 811-21439
EXACT NAME OF REGISTRANT AS SPECIFIED IN CHARTER: Fidelity Rutland Square Trust
Fund Name: PAS Small Cap Fund of Funds
82 DEVONSHIRE STREET, BOSTON, MA 02109
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) (ZIP CODE)
ERIC D. ROITER, SECRETARY, 82 DEVONSHIRE STREET, BOSTON, MA 02109
(NAME AND ADDRESS OF AGENT FOR SERVICE)
REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE: 617-563-7000
DATE OF FISCAL YEAR END: FEBRUARY 28
DATE OF REPORTING PERIOD: 06/30/2006
SIGNATURES
PURSUANT TO THE REQUIREMENTS OF THE INVESTMENT COMPANY ACT OF 1940, THE REGISTRANT HAS DULY CAUSED THIS REPORT TO BE SIGNED ON ITS BEHALF BY THE UNDERSIGNED, THERE UNTO DULY AUTHORIZED.
Fidelity Rutland Square Trust
BY: /s/ CHRISTINE REYNOLDS*
CHRISTINE REYNOLDS, PRESIDENT AND TREASURER
DATE: 08/15/2006 02:26:58 PM
*BY: /s/ CLAIRE S. WALPOLE
CLAIRE S. WALPOLE, VICE PRESIDENT, FIDELITY MANAGEMENT & RESEARCH COMPANY, PURSUANT TO A POWER OF ATTORNEY DATED JULY 31, 2006 AND FILED HEREWITH.
EXHIBIT A
VOTE SUMMARY REPORT
PAS Small Cap Fund of Funds
07/01/2005 - 06/30/2006
Note: The Security ID will be the CUSIP (Committee on Uniform Securities Identification Procedures) when available. When CUSIP is not available, an alternate identifier, e.g., CINS, will be provided.
| ISSUER NAME: CRM SMALL CAP VALUE FUND MEETING DATE: 09/23/2005 | ||||
| TICKER: CRMSX SECURITY ID: 92934R793 | ||||
| Proposal No | Proposal | Proposed By | Management Recommendation | Vote Cast |
| 1 | APPROVAL OF THE PLAN OF REORGANIZATION OF THE CRM SMALL CAP VALUE FUND INTO A SERIES OF THE CRM MUTUAL FUND TRUST WITH AN IDENTICAL NAME. | Management | For | Proportional |
| Fidelity displays agenda items and descriptions as they are provided by the issuer and the vote processing agent. These descriptions may include special characters such as asterisks. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions. | ||||
| ISSUER NAME: HENNESSY CORNERSTONE GROWTH FUND MEETING DATE: 09/09/2005 | ||||
| TICKER: HFCGX SECURITY ID: 425888104 | ||||
| Proposal No | Proposal | Proposed By | Management Recommendation | Vote Cast |
| 1 | TO APPROVE A NEW INVESTMENT ADVISORY AGREEMENT. | Management | For | None |
| Fidelity displays agenda items and descriptions as they are provided by the issuer and the vote processing agent. These descriptions may include special characters such as asterisks. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions. | ||||
| ISSUER NAME: LAUDUS ROSENBERG US DISCOVERY FUND MEETING DATE: 06/28/2006 | ||||
| TICKER: RDIVX SECURITY ID: 51855Q838 | ||||
| Proposal No | Proposal | Proposed By | Management Recommendation | Vote Cast |
| 1.1 | ELECT RODMAN L. DRAKE* AS A DIRECTOR | Management | For | Proportional |
| 1.2 | ELECT MORRILL MELTON HALL JR* AS A DIRECTOR | Management | For | Proportional |
| 1.3 | ELECT ROGER M. LYNCH* AS A DIRECTOR | Management | For | Proportional |
| 1.4 | ELECT JONATHAN PIEL* AS A DIRECTOR | Management | For | Proportional |
| 1.5 | ELECT JOHN D. COLLINS* AS A DIRECTOR | Management | For | Proportional |
| 1.6 | ELECT MARIANN BYERWALTER* AS A DIRECTOR | Management | For | Proportional |
| 1.7 | ELECT WILLIAM A. HASLER* AS A DIRECTOR | Management | For | Proportional |
| 1.8 | ELECT NILS H. HAKANSSON* AS A DIRECTOR | Management | For | Proportional |
| 1.9 | ELECT JAMES L. BAILEY** AS A DIRECTOR | Management | For | Proportional |
| 1.10 | ELECT RANDALL W. MERK** AS A DIRECTOR | Management | For | Proportional |
| Fidelity displays agenda items and descriptions as they are provided by the issuer and the vote processing agent. These descriptions may include special characters such as asterisks. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions. | ||||
| ISSUER NAME: OM COPPER ROCK EMERGING GROWTH FUND MEETING DATE: 06/16/2006 | ||||
| TICKER: OMARX SECURITY ID: 680029840 | ||||
| Proposal No | Proposal | Proposed By | Management Recommendation | Vote Cast |
| 1 | TO APPROVE A NEW INVESTMENT SUB-ADVISORY AGREEMENT WITH COPPER ROCK CAPITAL PARTNERS, LLC. | Management | For | Proportional |
| Fidelity displays agenda items and descriptions as they are provided by the issuer and the vote processing agent. These descriptions may include special characters such as asterisks. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions. | ||||
| ISSUER NAME: RS EMERGING GROWTH FUND MEETING DATE: 12/06/2005 | ||||
| TICKER: RSEGX SECURITY ID: 74972H101 | ||||
| Proposal No | Proposal | Proposed By | Management Recommendation | Vote Cast |
| 1.1 | ELECT LEONARD B. AUERBACH AS A DIRECTOR | Management | For | Proportional |
| 1.2 | ELECT JEROME S. CONTRO AS A DIRECTOR | Management | For | Proportional |
| 1.3 | ELECT JOHN W. GLYNN, JR. AS A DIRECTOR | Management | For | Proportional |
| 1.4 | ELECT MICHAEL G. MCCAFFERY AS A DIRECTOR | Management | For | Proportional |
| Fidelity displays agenda items and descriptions as they are provided by the issuer and the vote processing agent. These descriptions may include special characters such as asterisks. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions. | ||||
| ISSUER NAME: RS PARTNERS FUND MEETING DATE: 12/06/2005 | ||||
| TICKER: RSPFX SECURITY ID: 74972H408 | ||||
| Proposal No | Proposal | Proposed By | Management Recommendation | Vote Cast |
| 1.1 | ELECT LEONARD B. AUERBACH AS A DIRECTOR | Management | For | Proportional |
| 1.2 | ELECT JEROME S. CONTRO AS A DIRECTOR | Management | For | Proportional |
| 1.3 | ELECT JOHN W. GLYNN, JR. AS A DIRECTOR | Management | For | Proportional |
| 1.4 | ELECT MICHAEL G. MCCAFFERY AS A DIRECTOR | Management | For | Proportional |
| Fidelity displays agenda items and descriptions as they are provided by the issuer and the vote processing agent. These descriptions may include special characters such as asterisks. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions. | ||||
POWER OF ATTORNEY
I, the undersigned Treasurer of the following investment companies:
Colchester Street Trust Fidelity Aberdeen Street Trust Fidelity Advisor Series I Fidelity Advisor Series II Fidelity Advisor Series IV Fidelity Advisor Series VIII Fidelity California Municipal Trust Fidelity Capital Trust Fidelity Central Investment Portfolios LLC Fidelity Charles Street Trust Fidelity Commonwealth Trust Fidelity Concord Street Trust Fidelity Contrafund Fidelity Court Street Trust Fidelity Court Street Trust II Fidelity Destiny Portfolios Fidelity Devonshire Trust | Fidelity Financial Trust Fidelity Hastings Street Trust Fidelity Hereford Street Trust Fidelity Investment Trust Fidelity Magellan Fund Fidelity Massachusetts Municipal Trust Fidelity Money Market Trust Fidelity School Street Trust Fidelity Union Street Trust Fidelity Union Street Trust II Newbury Street Trust Variable Insurance Products Fund Variable Insurance Products Fund II Variable Insurance Products Fund III Variable Insurance Products Fund IV |
plus any other investment company for which Fidelity Management & Research Company or an affiliate acts as investment adviser and for which the undersigned individual serves as Treasurer (collectively, the "Funds"), hereby constitute and appoint Nicholas Steck and Claire Walpole my true and lawful attorneys-in-fact, each of them singly, with full power of substitution, and with full power to sign for me and in my name in the appropriate capacities, all Reports of the Proxy Voting Records of the Funds on Form N-PX under the Investment Company Act of 1940, as amended (the "Act"), or any successor thereto, and any supplements or other instruments in connection therewith, and generally to do all such things in my name and behalf in connection therewith as said attorneys-in-fact deem necessary or appropriate to cause such Form to be completed and filed in accordance with the Act and all related requirements of the Securities and Exchange Commission. I hereby ratify and confirm all that said attorneys-in-fact or their substitute may do or cause to be done by virtue hereof. This power of attorney is effective for all documents filed on or after August 1, 2006.
WITNESS my hand on this 31st of July 2006.
/s/ Christine Reynolds
Christine Reynolds
Treasurer