State Street Research Financial Trust N-PX Annual report of proxy voting record

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FORM N-PX

ANNUAL REPORT OF PROXY VOTING RECORD OF REGISTERED
MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number              811-4911

State Street Research Financial Trust
(exact name of registrant as specified in charter)
One Financial Center, Boston, MA	02111-2690
(address of principal executive offices)	(zip code)
Richard S. Davis, President and Chief Executive Officer
State Street Research & Management Company
One Financial Center, Boston MA 02111-2690
(name and address of agent for service)

Registrant’s telephone number, including area code:		617-357-1200
Date of fiscal year end:	2/28
Date of reporting period:	7/1/03 - 6/30/04

Item 1.Proxy Voting Record.

Vote Summary Report

Jul 01, 2003 - Jun 30, 2004

State Street Research Health Sciences Fund

Mtg Date/Type	Company/ Ballot Issues		Security	Mgmt Rec	Vote Cast	Record Date	Prpnent	Shares Voted
04/23/04 - A	Abbott Laboratories *ABT*		002824100			02/25/04		32,030
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Drug Pricing		Against	Against		ShrHoldr
	4	Report on Political Contributions/Activities		Against	Against		ShrHoldr
	5	Prohibit Awards to Executives		Against	Against		ShrHoldr
	6	Report on Operational Imact of HIV/AIDS, TB, and Malaria Pandemic		Against	Against		ShrHoldr
06/07/04 - A	Abgenix, Inc. *ABGX*		00339B107			04/12/04		72,450
	1	Elect Directors		For	For		Mgmt
05/20/04 - A	ADVANCED MEDICAL OPTICS INC *AVO*		00763M108			03/26/04		1,100
	1	Elect Directors		For	For		Mgmt
	2	Amend Omnibus Stock Plan		For	For		Mgmt
04/30/04 - A	Aetna Inc. *AET*		00817Y108			02/27/04		11,250
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Provide for Cumulative Voting		Against	Against		ShrHoldr
	4	Limit Executive Compensation		Against	Against		ShrHoldr
04/28/04 - A	Allergan, Inc. *AGN*		018490102			03/08/04		6,100
	1	Elect Directors		For	Split		Mgmt
	1.1	Elect Director Handel E. Evans		For
	1.2	Elect Director Michael R. Gallagher		For
	1.3	Elect Director Gavin S. Herbert		Withhold
	1.4	Elect Director Stephen J. Ryan		For
	2	Ratify Auditors		For	For		Mgmt
	3	Expense Stock Options		Against	Against		ShrHoldr
	4	Separate Chairman and CEO Positions		Against	For		ShrHoldr
05/13/04 - A	Amgen, Inc. *AMGN*		031162100			03/19/04		40,300
	1	Elect Directors		For	Split		Mgmt
	1.1	Elect Director Frank J. Biondi, Jr.		For
	1.2	Elect Director Jerry D. Choate		Withhold
	1.3	Elect Director Frank C. Herringer		For
	1.4	Elect Director Gilbert S. Omenn		For
	2	Ratify Auditors		For	For		Mgmt
	3	Prepare Glass Ceiling Report		Against	Against		ShrHoldr
	4	Expense Stock Options		Against	Against		ShrHoldr

Mgmt Rec - Company Management Recommended Vote

1

Mtg Date/Type	Company/ Ballot Issues		Security	Mgmt Rec	Vote Cast	Record Date	Prpnent	Shares Voted
05/17/04 - A	Anthem Inc. *ATH*		03674B104			03/19/04		10,168
	1	Elect Directors		For	For		Mgmt
06/28/04 - S	Anthem Inc. *ATH*		03674B104			05/10/04		11,478
	1	Issue Shares in Connection with an Acquisition		For	For		Mgmt
	2	Change Company Name		For	For		Mgmt
05/25/04 - A	Aspect Medical Systems *ASPM*		045235108			04/12/04		122,121
	1	Elect Directors		For	For		Mgmt
	2	Amend Omnibus Stock Plan		For	Against		Mgmt
	3	Approve Issuance of Shares for a Private Placement		For	For		Mgmt
	4	Ratify Auditors		For	For		Mgmt
	5	Other Business		For	Against		Mgmt
05/02/04 - A	Atrix Laboratories, Inc. *ATRX*		04962L101			03/26/04		16,668
	1	Elect Directors		For	For		Mgmt
	2	Amend Omnibus Stock Plan		For	For		Mgmt
	3	Ratify Auditors		For	For		Mgmt
06/11/04 - A	Aventis SA (Formerly Rhone-Poulenc)		053561106			05/18/04		24,730
		Meeting for Holders of ADRs
	1	APPROVAL OF THE 2003 PARENT-COMPANY FINANCIAL STATEMENTS		For	For		Mgmt
	2	APPROVAL OF THE CONSOLIDATED FINANCIAL STATEMENTS 2003		For	For		Mgmt
	3	APPROVAL OF THE APPROPRIATION OF EARNINGS AND APPROVAL OF A DIVIDEND OF EURO 0.82 FOR DISTRIBUTION		For	For		Mgmt
	4	APPROVAL OF REGULATED AGREEMENTS		For	For		Mgmt
	5	APPROVAL OF THE INSTITUTION OF A SHARE REPURCHASE PROGRAM		For	For		Mgmt
	6	Ratify Auditors		For	For		Mgmt
	7	APPROVAL TO AMEND ARTICLE 7 OF THE ARTICLES OF ASSOCIATION AND BY-LAWS		For	Against		Mgmt
	8	APPROVAL TO AMEND ARTICLE 11 OF THE ARTICLES OF ASSOCIATION AND BY-LAWS-MANAGEMENT BOARD		For	For		Mgmt

2

Mtg Date/Type	Company/ Ballot Issues		Security	Mgmt Rec	Vote Cast	Record Date	Prpnent	Shares Voted
	9	APPROVAL TO AMEND ARTICLE 13 OF THE ARTICLES OF ASSOCIATION AND BY-LAWS-SUPERVISORY BOARD		For	For		Mgmt
	10	APPROVAL OF THE RENEWAL OF THE MANDATE OF A SUPERVISORY BOARD MEMBER, MR. JEAN-MARC BRUEL		For	For		Mgmt
	11	APPROVAL OF THE RENEWAL OF THE MANDATE OF A SUPERVISORY BOARD MEMBER, MR. MARTIN FRUEHAUF		For	For		Mgmt
	12	APPROVAL OF THE RENEWAL OF THE MANDATE OF A SUPERVISORY BOARD MEMBER, MR. SERGE KAMPF		For	For		Mgmt
	13	APPROVAL OF THE RENEWAL OF THE MANDATE OF A SUPERVISORY BOARD MEMBER, MR. HUBERT MARKL		For	For		Mgmt
	14	APPROVAL OF THE RENEWAL OF THE MANDATE OF A SUPERVISORY BOARD MEMBER, MR. GUNTER METZ		For	For		Mgmt
	15	APPROVAL OF THE RENEWAL OF THE MANDATE OF A SUPERVISORY BOARD MEMBER, MR. DIDIER PINEAU-VALENCIENNE		For	For		Mgmt
	16	APPROVAL OF THE RENEWAL OF THE MANDATE OF A SUPERVISORY BOARD MEMBER, MS. SEHAM RAZZOUQI		For	For		Mgmt
	17	APPROVAL OF THE RENEWAL OF THE MANDATE OF A SUPERVISORY BOARD MEMBER, MR. MICHEL RENAULT		For	For		Mgmt
	18	APPROVAL OF THE RENEWAL OF THE MANDATE OF A SUPERVISORY BOARD MEMBER, MR. HANS-JUERGEN SCHINZLER		For	For		Mgmt
	19	APPROVAL OF THE RENEWAL OF THE MANDATE OF A SUPERVISORY BOARD MEMBER, MR. MARC VIENOT		For	For		Mgmt
	20	APPROVAL OF THE GRANTING OF POWER-OF-ATTORNEY FOR ALL FORMALITIES IN CONNECTION WITH THE ANNUAL GENERAL MEETING		For	For		Mgmt

3

Mtg Date/Type	Company/ Ballot Issues		Security	Mgmt Rec	Vote Cast	Record Date	Prpnent	Shares Voted
07/01/03 - A	Axonyx, Inc. *AXYX*		05461R101			05/23/03		160
	1	Elect Directors		For	Split		Mgmt
	1.1	Elect Director Gosse B. Bruinsma, M    .D.		For
	1.2	Elect Director Louis G. Cornacchia		For
	1.3	Elect Director Michael R. Espey		For
	1.4	Elect Director Steven H. Ferris, Ph.D.		For
	1.5	Elect Director Marvin S. Hausman, M.D.		Withhold
	1.6	Elect Director Gerard J. Vlak, Ph.D.		For
	2	Ratify Auditors		For	For		Mgmt
	3	Other Business		For	Against		Mgmt
06/22/04 - A	Axonyx, Inc. *AXYX*		05461R101			05/06/04		46,182
	1	Elect Directors		For	For		Mgmt
	2	Increase Authorized Common Stock		For	For		Mgmt
	3	Amend Stock Option Plan		For	For		Mgmt
	4	Ratify Auditors		For	For		Mgmt
05/04/04 - A	Baxter International Inc. *BAX*		071813109			03/05/04		56,390
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Provide for Cumulative Voting		Against	Against		ShrHoldr
02/11/04 - A	Becton, Dickinson and Company *BDX*		075887109			12/15/03		27,980
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Approve Omnibus Stock Plan		For	For		Mgmt
		Shareholder Proposal
	4	Provide for Cumulative Voting		Against	Against		ShrHoldr
06/16/04 - A	BIOGEN IDEC INC *BIIB*		09062X103			04/20/04		29,010
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
06/06/03 - A	Biogen, Inc.		090597105			04/11/03		4,707
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Approve Omnibus Stock Plan		For	For		Mgmt
	4	Approve Executive Incentive Bonus Plan		For	For		Mgmt
	5	Amend Employee Stock Purchase Plan		For	For		Mgmt

4

Mtg Date/Type	Company/ Ballot Issues		Security	Mgmt Rec	Vote Cast	Record Date	Prpnent	Shares Voted
11/12/03 - S	Biogen, Inc.		090597105			09/25/03		17,495
	1	Approve Merger Agreement		For	For		Mgmt
	2	Adjourn Meeting		For	Against		Mgmt
05/26/04 - A	BioLase Technology, Inc. *BLTI*		090911108			04/05/04		2,313
	1	Elect Directors		For	For		Mgmt
	2	Amend Stock Option Plan		For	For		Mgmt
	3	Ratify Auditors		For	For		Mgmt
	4	Other Business		For	Against		Mgmt
06/12/03 - A	BioMarin Pharmaceutical Inc. *BMRN*		09061G101			04/28/03		15,769
	1	Elect Directors		For	Split		Mgmt
	1.1	Elect Director Fredric D. Price		For
	1.2	Elect Director Franz L. Cristiani		Withhold
	1.3	Elect Director Elaine J. Heron, Ph.D.		For
	1.4	Elect Director Erich Sager		For
	1.5	Elect Director Vijay B. Samant		For
	1.6	Elect Director Gwynn R. Williams		Withhold
	2	Ratify Auditors		For	For		Mgmt
	3	Increase Authorized Common Stock		For	For		Mgmt
	4	Increase Authorized Preferred Stock		For	For		Mgmt
	5	Amend Omnibus Stock Plan		For	Against		Mgmt
05/05/04 - A	BioMarin Pharmaceutical Inc. *BMRN*		09061G101			03/19/04		93,555
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
06/25/04 - A/S	Biovail Corporation (Formerly Biovail Corp. International) *BVF.*		09067J109			04/30/04		175,020
	1	Elect Eugene N. Melnyk, Rolf K. Reininghaus, Wilfred G. Bristow, Roger Rowan, Paul W. Haddy, Laurence E. Paul, Sheldon Plener and Michael Van Every as Directors		For	For		Mgmt
	2	Ratify Ernst & Young LLP as Auditors		For	For		Mgmt
	3	Approve Stock Option Plan up to Ten Million Common Shares		For	For		Mgmt

5

Mtg Date/Type	Company/ Ballot Issues		Security	Mgmt Rec	Vote Cast	Record Date	Prpnent	Shares Voted
06/25/04 - A/S	Biovail Corporation (Formerly Biovail Corp. International) *BVF.*		09067JPPH			04/30/04		24,100
	1	Elect Eugene N. Melnyk, Rolf K. Reininghaus, Wilfred G. Bristow, Roger Rowan, Paul W. Haddy, Laurence E. Paul, Sheldon Plener and Michael Van Every as Directors		For	For		Mgmt
	2	Ratify Ernst & Young LLP as Auditors		For	For		Mgmt
	3	Approve Stock Option Plan up to Ten Million Common Shares		For	For		Mgmt
05/04/04 - A	Bristol-Myers Squibb Co. *BMY*		110122108			03/08/04		84,420
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Report on Political Contributions/Activities		Against	Against		ShrHoldr
	4	Cease Political Contributions/Activities		Against	Against		ShrHoldr
	5	Separate Chairman and CEO Positions		Against	For		ShrHoldr
	6	Report on Operational Impact of HIV/AIDS, TB, and Malaria Pandemic		Against	Against		ShrHoldr
	7	Require Affirmative Vote of a Majority of the Shares to Elect Directors		Against	Against		ShrHoldr
03/22/04 - S	Caremark Rx, Inc. *CMX*		141705103			02/05/04		28,680
	1	Increase Authorized Common Stock		For	For		Mgmt
	2	Approve Issuance of Stock in Connection with Merger Agreement		For	For		Mgmt
	3	Increase Authorized Preferred Stock		For	Against		Mgmt
	4	Approve Omnibus Stock Plan		For	For		Mgmt
	5	Allow Postponement or Adjournment of Special Meeting		For	Against		Mgmt
05/04/04 - A	Caremark Rx, Inc. *CMX*		141705103			04/01/04		33,970
	1	Elect Directors		For	For		Mgmt
06/04/03 - A	Cellegy Pharmaceuticals Inc. *CLGY*		15115L103			04/10/03		50,847
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt

6

Mtg Date/Type	Company/ Ballot Issues		Security	Mgmt Rec	Vote Cast	Record Date	Prpnent	Shares Voted
05/28/04 - A	Cerner Corp. *CERN*		156782104			04/02/04		14,020
	1	Elect Directors		For	For		Mgmt
	2	Approve Omnibus Stock Plan		For	Against		Mgmt
	3	Ratify Auditors		For	For		Mgmt
05/12/04 - A	Charles River Laboratories International, Inc. *CRL*		159864107			03/15/04		23,590
	1	Elect Directors		For	Split		Mgmt
	1.1	Elect Director James C. Foster		For
	1.2	Elect Director Robert Cawthorn		For
	1.3	Elect Director Stephen D. Chubb		For
	1.4	Elect Director George E. Massaro		For
	1.5	Elect Director George M. Milne		Withhold
	1.6	Elect Director Douglas E. Rogers		For
	1.7	Elect Director Samuel O. Thier		For
	1.8	Elect Director William H. Waltrip		For
	2	Ratify Auditors		For	For		Mgmt
05/27/04 - A	Chiron Corp. *CHIR*		170040109			03/29/04		17,470
	1	Elect Directors		For	For		Mgmt
	2	Amend Omnibus Stock Plan		For	Against		Mgmt
	3	Ratify Auditors		For	For		Mgmt
04/28/04 - A	CIGNA Corp. *CI*		125509109			03/01/04		9,940
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
06/10/03 - A	Conceptus, Inc. *CPTS*		206016107			04/16/03		11,015
	1	Elect Directors		For	Split		Mgmt
	1.1	Elect Director Florence Comite, M.D.		For
	1.2	Elect Director Sanford Fitch		Withhold
	1.3	Elect Director Kathryn A. Tunstall		For
	2	Ratify Auditors		For	For		Mgmt
	3	Amend Omnibus Stock Plan		For	For		Mgmt
05/13/04 - A	Corgentech Inc. *CGTK*		21872P105			04/08/04		470
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt

7

Mtg Date/Type	Company/ Ballot Issues		Security	Mgmt Rec	Vote Cast	Record Date	Prpnent	Shares Voted
05/26/04 - A	Cytyc Corporation *CYTC*		232946103			04/05/04		78,490
	1	Elect Directors		For	For		Mgmt
	2	Approve Omnibus Stock Plan		For	For		Mgmt
	3	Approve Employee Stock Purchase Plan		For	For		Mgmt
	4	Ratify Auditors		For	For		Mgmt
07/15/03 - A	Discovery Laboratories, Inc. *DSCO*		254668106			06/09/03		36,438
	1	Elect Directors		For	Split		Mgmt
	1.1	Elect Director Robert J. Capetola, Ph.D.		Withhold
	1.2	Elect Director Antonio Esteve, Ph.D.		For
	1.3	Elect Director Max E. Link, Ph.D.		For
	1.4	Elect Director Herbert H. McDade, Jr.		For
	1.5	Elect Director Marvin E. Rosenthale, Ph.D.		For
	2	Ratify Auditors		For	For		Mgmt
	3	Amend Stock Option Plan		For	For		Mgmt
05/24/04 - A	Dov Pharmaceutical, Inc. *DOVP*		259858108			04/23/04		970
	1	Elect Directors		For	For		Mgmt
	2	Amend Omnibus Stock Plan		For	For		Mgmt
	3	Ratify Auditors		For	For		Mgmt
05/20/04 - A	Dyax Corporation *DYAX*		26746E103			03/26/04		16,228
	1	Elect Directors		For	For		Mgmt
	2	Increase Authorized Common Stock		For	For		Mgmt
06/17/04 - A	Elan Corporation Plc		284131208			05/11/04		24,919
		Meeting for Holders of ADRs
	1	TO RECEIVE AND CONSIDER THE FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2003 TOGETHER WITH THE REPORTS OF THE DIRECTORS AND AUDITORS THEREON.		For	For		Mgmt
	2	TO RE-ELECT MR. BRENDAN BOUSHEL WHO RETIRES FROM THE BOARD BY ROTATION AS A DIRECTOR OF THE COMPANY.		For	For		Mgmt
	3	TO RE-ELECT MR. JOHN GROOM WHO RETIRES FROM THE BOARD BY ROTATION AS A DIRECTOR OF THE COMPANY.		For	For		Mgmt

8

Mtg Date/Type	Company/ Ballot Issues		Security	Mgmt Rec	Vote Cast		Record Date	Prpnent		Shares Voted
	4	TO RE-ELECT MR. KYRAN MCLAUGHLIN WHO RETIRES FROM THE BOARD BY ROTATION AS A DIRECTOR OF THE COMPANY.		For	For			Mgmt
	5	TO RE-ELECT DR. DENNIS SELKOE WHO RETIRES FROM THE BOARD BY ROTATION AS A DIRECTOR OF THE COMPANY.		For	For			Mgmt
	6	TO RE-ELECT MR. DANIEL TULLY WHO RETIRES FROM THE BOARD BY ROTATION AS A DIRECTOR OF THE COMPANY.		For	For			Mgmt
	7	TO AUTHORISE THE DIRECTORS TO FIX THE REMUNERATION OF THE AUDITORS.		For	For			Mgmt
	8	THAT THE BOARD OF DIRECTORS BE AUTHORISED TO ISSUE SHARE OPTIONS TO NON-EXECUTIVE DIRECTORS IN ACCORDANCE WITH THE TERMS OF THE ELAN CORPORATION, PLC 1996 CONSULTANT OPTION PLAN.		For	Against			Mgmt
	9	THAT THE ELAN CORPORATION, PLC 2004 RESTRICTED STOCK PLAN (THE RSU PLAN) BE APPROVED AND ADOPTED.		For	Against			Mgmt
	10	THAT THE ELAN CORPORATION, PLC EMPLOYEE EQUITY PURCHASE PLAN (THE ESPP) BE APPROVED AND ADOPTED.		For	For			Mgmt
	11	THAT THE DIRECTORS BE AND ARE HEREBY GENERALLY AND UNCONDITIONALLY AUTHORISED TO ALLOT AND ISSUE ALL RELEVANT SECURITIES OF THE COMPANY.		For	For			Mgmt
	12	THAT THE AUTHORISED SHARE CAPITAL OF THE COMPANY BE INCREASED FROM 30,002,500 TO 33,502,500.		For	For			Mgmt
	13	THAT, SUBJECT TO THE PASSING OF RESOLUTION 12 IN THE NOTICE OF THIS MEETING, THE ARTICLES OF ASSOCIATION BE AMENDED.		For	For			Mgmt
	14	THAT, SUBJECT TO THE PASSING OF RESOLUTION 11 IN THE NOTICE OF THE MEETING, THE DIRECTORS BE AND ARE HEREBY EMPOWERED TO ALLOT SECURITIES FOR CASH.		For	For			Mgmt
	15	THAT THE COMPANY AND/OR ANY SUBSIDIARY OF THE COMPANY BE AND IS HEREBY GENERALLY AUTHORIZED TO MAKE MARKET PURCHASES OF SHARES OF ANY CLASS OF THE COMPANY.		For	For			Mgmt
	16	THAT THE RE-ISSUE PRICE RANGE AT WHICH ANY TREASURY SHARES FOR THE TIME BEING HELD BY THE COMPANY MAY BE RE-ISSUED OFF-MARKET SHALL BE THE MAXIMUM PRICE EQUAL TO 120 PER CENT OF THE RELEVANT PRICE; AND THE MINIMUM PRICE EQUAL TO 95 PER CENT OF THE RELEVA		For		For			Mgmt

9

Mtg Date/Type	Company/ Ballot Issues		Security	Mgmt Rec	Vote Cast	Record Date	Prpnent	Shares Voted
05/07/04 - A	First Horizon Pharmaceutical *FHRX*		32051K106			04/02/04		136,550
	1	Elect Directors		For	For		Mgmt
	2	Amend Stock Option Plan		For	Against		Mgmt
08/11/03 - A	Forest Laboratories, Inc. *FRX*		345838106			06/20/03		17,230
	1	Elect Directors		For	Split		Mgmt
	1.1	Elect Director Howard Solomon		For
	1.2	Elect Director William J. Candee, III		For
	1.3	Elect Director George S. Cohan		For
	1.4	Elect Director Dan L. Goldwasser		For
	1.5	Elect Director Lester B. Salans, M.D.		For
	1.6	Elect Director Kenneth E. Goodman		For
	1.7	Elect Director Phillip M. Satow		Withhold
	2	Increase Authorized Common Stock		For	For		Mgmt
	3	Ratify Auditors		For	For		Mgmt
05/27/04 - A	Genzyme Corp. *GENZ*		372917104			03/31/04		8,420
	1	Elect Directors		For	For		Mgmt
	2	Amend Employee Stock Purchase Plan		For	For		Mgmt
	3	Approve Stock Option Plan		For	For		Mgmt
	4	Amend Non-Employee Director Stock Option Plan		For	For		Mgmt
	5	Increase Authorized Preferred Stock		For	For		Mgmt
	6	Ratify Auditors		For	For		Mgmt
	7	Limit Awards to Executives		Against	Against		ShrHoldr

10

Mtg Date/Type	Company/ Ballot Issues		Security	Mgmt Rec	Vote Cast	Record Date	Prpnent	Shares Voted
05/25/04 - A	Gilead Sciences, Inc. *GILD*		375558103			04/05/04		25,600
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Approve Omnibus Stock Plan		For	For		Mgmt
	4	Increase Authorized Common Stock		For	For		Mgmt
05/18/04 - A	Guidant Corp. *GDT*		401698105			03/11/04		25,840
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Expense Stock Options		Against	For		ShrHoldr
05/27/04 - A	HCA, Inc. *HCA*		404119109			04/01/04		17,295
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Amend Management Stock Purchase Plan		For	For		Mgmt
06/19/03 - A	IVAX Corp. *IVX*		465823102			05/05/03		8,829
	1	Elect Directors		For	Split		Mgmt
	1.1	Elect Director Betty G. Amos		For
	1.2	Elect Director Mark Andrews		For
	1.3	Elect Director Ernst Biekert, Ph.D.		For
	1.4	Elect Director Jack Fishman, Ph.D.		For
	1.5	Elect Director Neil Flanzraich		For
	1.6	Elect Director Phillip Frost, M.D.		For
	1.7	Elect Director Jane Hsiao, Ph.D.		For
	1.8	Elect Director David A. Lieberman		For
	1.9	Elect Director Modesto A. Maidique, Ph.D.		For
	1.10	Elect Director Richard C. Pfenniger, Jr.		Withhold
	1.11	Elect Director Bertram Pitt, M.D.		For
04/22/04 - A	Johnson & Johnson *JNJ*		478160104			02/24/04		55,310
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Cease Charitable Contributions		Against	Against		ShrHoldr
06/11/04 - A	Ligand Pharmaceuticals Incorporated *LGND*		53220K207			04/30/04		1,010
	1	Elect Directors		For	For		Mgmt
	2	Amend Stock Option Plan		For	For		Mgmt
	3	Increase Authorized Common Stock		For	For		Mgmt
	4	Ratify Auditors		For	For		Mgmt

11

Mtg Date/Type	Company/ Ballot Issues		Security	Mgmt Rec	Vote Cast	Record Date	Prpnent	Shares Voted
04/21/04 - A	MEDCO Health Solutions Inc *MHS*		58405U102			03/10/04		39,910
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
05/20/04 - A	MedImmune, Inc. *MEDI*		584699102			03/31/04		41,820
	1	Elect Directors		For	For		Mgmt
	2	Approve Omnibus Stock Plan		For	For		Mgmt
	3	Ratify Auditors		For	For		Mgmt
08/28/03 - A	Medtronic, Inc. *MDT*		585055106			07/03/03		6,700
	1	Elect Directors		For	Split		Mgmt
	1.1	Elect Director Richard H. Anderson		For
	1.2	Elect Director Michael R. Bonsignore		For
	1.3	Elect Director Gordon M. Sprenger		Withhold
	2	Ratify Auditors		For	For		Mgmt
	3	Approve Omnibus Stock Plan		For	For		Mgmt
	4	Approve Executive Incentive Bonus Plan		For	For		Mgmt
04/27/04 - A	Merck & Co., Inc. *MRK*		589331107			02/24/04		37,670
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Declassify the Board of Directors		For	For		Mgmt
	4	Prohibit Awards to Executives		Against	Against		ShrHoldr
	5	Develop Ethical Criteria for Patent Extension		Against	Against		ShrHoldr
	6	Link Executive Compensation to Social Issues		Against	Against		ShrHoldr
	7	Report on Political Contributions		Against	Against		ShrHoldr
	8	Report on Operational Impact of HIV/AIDS, TB, and Malaria Pandemic		Against	Against		ShrHoldr
05/07/04 - A	Millennium Pharmaceuticals, Inc. *MLNM*		599902103			03/10/04		89,780
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt

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Mtg Date/Type	Company/ Ballot Issues		Security	Mgmt Rec	Vote Cast	Record Date	Prpnent	Shares Voted
07/25/03 - A	Mylan Laboratories Inc. *MYL*		628530107			05/23/03		10,360
	1	Elect Directors		For	Split		Mgmt
	1.1	Elect Director Milan Puskar		For
	1.2	Elect Director Robert J. Coury		For
	1.3	Elect Director Wendy Cameron		For
	1.4	Elect Director Laurence S. DeLynn		For
	1.5	Elect Director John C. Gaisford, M.D.		For
	1.6	Elect Director Douglas J. Leech		Withhold
	1.7	Elect Director Joseph C. Maroon, M.D.		For
	1.8	Elect Director Patricia A. Sunseri		For
	1.9	Elect Director C.B. Todd		For
	1.10	Elect Director Randall L. Vanderveen, Ph.D.		For
	1.11	Elect Director Stuart A. Williams, Esq.		For
	2	Increase Authorized Common Stock		For	For		Mgmt
	3	Approve Omnibus Stock Plan		For	For		Mgmt
02/24/04 - A	Novartis AG		66987V109			01/30/04		63,140
		Meeting for Holders of ADRs
	1	APPROVAL OF THE ANNUAL REPORT, THE FINANCIAL STATEMENTS OF NOVARTIS AG AND THE GROUP CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR 2003.		For	For		Mgmt
	2	APPROVAL OF THE ACTIVITIES OF THE BOARD OF DIRECTORS.		For	For		Mgmt
	3	APPROPRIATION OF AVAILABLE EARNINGS OF NOVARTIS AG AS PER BALANCE SHEET AND DECLARATION OF DIVIDEND.		For	For		Mgmt
	4	CONVERSION OF GENERAL RESERVES INTO FREE RESERVES.		For	For		Mgmt
	5	REDUCTION OF SHARE CAPITAL.		For	For		Mgmt
	6	FURTHER SHARE REPURCHASE PROGRAM.		For	For		Mgmt
	7	AMENDMENT TO THE ARTICLES OF INCORPORATION.		For	For		Mgmt
	8	ELECTION TO THE BOARD OF DIRECTORS. RE-ELECTION OF PROF. DR. HELMUT SIHLER FOR A THREE-YEAR TERM.		For	For		Mgmt
	9	ELECTION TO THE BOARD OF DIRECTORS. RE-ELECTION OF MR. HANS-JORG RUDLOFF FOR A THREE-YEAR TERM.		For	For		Mgmt
	10	ELECTION TO THE BOARD OF DIRECTORS. RE-ELECTION OF DR. DANIEL VASELLA FOR A THREE-YEAR TERM.		For	For		Mgmt
	11	Ratify Auditors		For	For		Mgmt

13

Mtg Date/Type	Company/ Ballot Issues		Security	Mgmt Rec	Vote Cast	Record Date	Prpnent	Shares Voted
04/13/04 - A	OSCIENT PHARMACEUTICALS CORP *GENE*		372430108			03/04/04		4,590
	1	Elect Directors		For	For		Mgmt
	2	Change Company Name		For	For		Mgmt
	3	Amend Employee Stock Purchase Plan		For	For		Mgmt
	4	Amend Omnibus Stock Plan		For	Against		Mgmt
	5	Ratify Auditors		For	For		Mgmt
03/17/04 - A	OSI Pharmaceuticals, Inc. *OSIP*		671040103			01/21/04		700
	1	Elect Directors		For	Split		Mgmt
	1.1	Elect Director Robert A. Ingram		For
	1.2	Elect Director Colin Goddard, Ph.D.		For
	1.3	Elect Director Edwin A. Gee, Ph.D.		Withhold
	1.4	Elect Director Michael Atieh		For
	1.5	Elect Director G. Morgan Browne		For
	1.6	Elect Director Daryl K. Granner, M.D.		For
	1.7	Elect Director Walter M Lovenberg, Phd		For
	1.8	Elect Director Viren Mehta		For
	1.9	Elect Director Sir Mark Richmond, Phd		For
	1.10	Elect Director John P. White		Withhold
	2	Amend Stock Option Plan		For	For		Mgmt
	3	Ratify Auditors		For	For		Mgmt
06/04/03 - A	Penwest Pharmaceuticals Co. *PPCO*		709754105			04/09/03		25,957
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt

14

Mtg Date/Type	Company/ Ballot Issues		Security	Mgmt Rec	Vote Cast	Record Date	Prpnent	Shares Voted
04/27/04 - A	PerkinElmer Inc. *PKI*		714046109			02/27/04		81,280
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Expense Stock Options		Against	Against		ShrHoldr
04/22/04 - A	Pfizer Inc. *PFE*		717081103			02/27/04		85,089
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Approve Omnibus Stock Plan		For	For		Mgmt
	4	Report on Operational Impact of HIV/AIDS, TB, and Malaria Pandemic		Against	Against		ShrHoldr
	5	Cease Political Contributions/Activities		Against	Against		ShrHoldr
	6	Report on Political Contributions/Activities		Against	Against		ShrHoldr
	7	Establish Term Limits for Directors		Against	Against		ShrHoldr
	8	Report on Drug Pricing		Against	Against		ShrHoldr
	9	Limit Awards to Executives		Against	Against		ShrHoldr
	10	Amend Animal Testing Policy		Against	Against		ShrHoldr
06/09/03 - A	Progenics Pharmaceuticals, Inc *PGNX*		743187106			04/25/03		13,997
	1	Elect Directors		For	For		Mgmt
	2	Amend Employee Stock Purchase Plan		For	For		Mgmt
	3	Ratify Auditors		For	For		Mgmt
	4	Other Business		For	Abstain		Mgmt
06/30/04 - A	Protein Design Labs, Inc. *PDLI*		74369L103			05/20/04		79,148
	1	Elect Directors		For	For		Mgmt
	2	Approve Omnibus Stock Plan		For	Against		Mgmt
	3	Ratify Auditors		For	For		Mgmt
04/27/04 - A	Schering-Plough Corp. *SGP*		806605101			03/05/04		53,230
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Approve Executive Incentive Bonus Plan		For	For		Mgmt
05/13/04 - A	Service Corporation International *SRV*		817565104			03/25/04		145,910
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Amend Omnibus Stock Plan		For	For		Mgmt

15

Mtg Date/Type	Company/ Ballot Issues		Security	Mgmt Rec	Vote Cast	Record Date	Prpnent	Shares Voted
06/18/03 - A	Staar Surgical Co. *STAA*		852312305			05/19/03		22,277
	1	Elect Directors		For	For		Mgmt
	2	Approve Omnibus Stock Plan		For	Against		Mgmt
04/13/04 - A	Stewart Enterprises, Inc. *STEI*		860370105			02/17/04		126,490
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
10/27/03 - S	Teva Pharmaceutical Industries		881624209			09/18/03		2,318
	1	Elect G. Shalev as an External Director		For	For		Mgmt
	2	Approve Increase in Remuneration of Directors other than the Chairman		For	For		Mgmt
05/20/04 - A	Teva Pharmaceutical Industries		881624209			04/15/04		19,790
		Meeting for Holders of ADRs
	1	TO RECEIVE AND DISCUSS THE COMPANY S CONSOLIDATED BALANCE SHEET AS OF DECEMBER 31, 2003 AND THE CONSOLIDATED STATEMENTS.		For	For		Mgmt
	2	TO APPROVE THE BOARD OF DIRECTORS RECOMMENDATION THAT THE CASH DIVIDEND FOR THE YEAR ENDED DECEMBER 31, 2003, WHICH WAS PAID IN FOUR INSTALLMENTS AND AGGREGATED NIS 1.44 (APPROXIMATELY US$0.322) PER ORDINARY SHARE, BE DECLARED FINAL.		For	For		Mgmt
	3	TO ELECT ABRAHAM E. COHEN TO SERVE FOR A THREE-YEAR TERM.		For	For		Mgmt
	4	TO ELECT LESLIE DAN TO SERVE FOR A THREE-YEAR TERM.		For	For		Mgmt
	5	TO ELECT PROF. MEIR HETH TO SERVE FOR A THREE-YEAR TERM.		For	For		Mgmt
	6	TO ELECT PROF. MOSHE MANY TO SERVE FOR A THREE-YEAR TERM.		For	For		Mgmt
	7	TO ELECT DOV SHAFIR TO SERVE FOR A THREE-YEAR TERM.		For	For		Mgmt
	8	TO APPROVE THE PURCHASE OF DIRECTOR S AND OFFICER S LIABILITY INSURANCE FOR THE DIRECTORS AND OFFICERS OF THE COMPANY.		For	For		Mgmt
	9	Ratify Auditors		For	For		Mgmt

16

Mtg Date/Type	Company/ Ballot Issues		Security	Mgmt Rec	Vote Cast	Record Date	Prpnent	Shares Voted
05/18/04 - A	Thermo Electron Corp. *TMO*		883556102			03/26/04		33,320
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
	3	Limit Awards to Executives		Against	Against		ShrHoldr
06/10/03 - A	Transkaryotic Therapies, Inc. *TKTX*		893735100			04/16/03		9,318
	1	Elect Directors		For	Split		Mgmt
	1.1	Elect Director Michael J. Astrue		For
	1.2	Elect Director Walter Gilbert, Ph.D.		Withhold
	1.3	Elect Director Jonathan S. Leff		For
	1.4	Elect Director William R. Miller		For
	1.5	Elect Director Rodman W. Moorhead, III		For
	1.6	Elect Director James E. Thomas		For
	1.7	Elect Director Wayne P. Yetter		For
06/22/04 - A	Transkaryotic Therapies, Inc. *TKTX*		893735100			04/26/04		79,990
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
06/18/03 - A	WELLCHOICE INC *WC*		949475107			04/22/03		11,250
	1	Elect Directors		For	For		Mgmt
	2	Approve Omnibus Stock Plan		For	For		Mgmt
	3	Approve Employee Stock Purchase Plan		For	For		Mgmt
	4	Ratify Auditors		For	For		Mgmt
05/19/04 - A	WELLCHOICE INC *WC*		949475107			04/02/04		16,230
	1	Elect Directors		For	For		Mgmt
	2	Ratify Auditors		For	For		Mgmt
06/28/04 - S	WellPoint Health Networks Inc. *WLP*		94973H108			05/10/04		6,930
	1	Approve Merger Agreement		For	For		Mgmt
05/10/04 - A	Zimmer Holdings Inc *ZMH*		98956P102			03/15/04		6,900
	1	Elect Directors		For	For		Mgmt
	2	Submit Shareholder Rights Plan (Poison Pill) to Shareholder Vote		Against	For		ShrHoldr
	3	Ratify Auditors		Against	For		ShrHoldr

17

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, thereunto duly authorized.

(Registrant)		State Street Research Financial Trust
By (signature and title)*			/s/  Richard S. Davis
			Richard S. Davis, Principal Executive Officer
Date	August 31, 2004

*Print the name and title of each signing officer under his or her signature.

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