(logo) Fidelity Investments®||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||| | Fidelity Pricing & Cash Management Services |
May 4, 2009
Securities and Exchange Commission
100 F Street, N.E.
Washington, D.C. 20549
Attention: Sally Samuels
RE: | Variable Insurance Products Fund V (the trust): On behalf of all funds in the trust as listed at the conclusion of this letter (the funds) File No. 811-05361 |
Ladies and Gentlemen:
On behalf of the above referenced funds, transmitted herewith for filing pursuant to Rule 14a-6(a) of Regulation 14A under the Securities Exchange Act of 1934 is a preliminary copy of the Notice, Proxy Statement, and Form of Proxy to be sent to shareholders of the funds in connection with a Special Meeting of Shareholders of the funds to be held on July 15, 2009. Pursuant to Rule 14a-3(c), the required informational copy of each fund's Annual Report for the fiscal period ended December 31, 2008 has been previously furnished to the commission.
We anticipate mailing definitive proxy materials to shareholders on or about May 29, 2009, and in order to allow sufficient time to meet this schedule, we would greatly appreciate receiving comments (if any) from the Staff no later than May 14, 2009.
The proposals for consideration by shareholders are as follows. To facilitate the Staff's review of this filing, we make the following representations concerning disclosure for the proxy proposals included herein:
1. To elect a Board of Trustees.
2. To amend the Declaration of Trust to reduce the required quorum for future shareholder meetings.
The funds' Declaration of Trust currently provides that a majority of the shares entitled to vote shall be a quorum for the transaction of business at a shareholders' meeting. As amended, the Declaration of Trust (Article VIII, Section 3) would reduce the quorum required to one-third of the shares entitled to vote. This proposal is substantially similar to that contained in the proxy statement forFidelity Mt. Vernon Street Trust (811-03583)filed on March 18, 2008.We do not believe that this proposal requires review.
Please contact Jamie Plourde at (617) 563-1375 with any questions or comments relating to this filing.
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||\\ | Sincerely, |
|
|
|
|
| /s/ Natasha Banos |
| Natasha Banos |
| Legal Product Group |
List of funds in the trust:
Variable Insurance Products Fund V: Asset Manager Portfolio, Asset Manager: Growth Portfolio, Freedom Income Portfolio, Freedom 2005 Portfolio, Freedom 2010 Portfolio, Freedom 2015 Portfolio, Freedom 2020 Portfolio, Freedom 2025 Portfolio, Freedom 2030 Portfolio, Freedom 2035 Portfolio, Freedom 2040 Portfolio, Freedom 2045 Portfolio, Freedom 2050 Portfolio, Freedom Lifetime Income I Portfolio, Freedom Lifetime Income II Portfolio, Freedom Lifetime Income III Portfolio, FundsManager 20% Portfolio, FundsManager 50% Portfolio, FundsManager 60% Portfolio, FundsManager 70% Portfolio, FundsManager 85% Portfolio, Investment Grade Bond Portfolio, Investor Freedom Income Portfolio, Investor Freedom 2005 Portfolio, Investor Freedom 2010 Portfolio, Investor Freedom 2015 Portfolio, Investor Freedom 2020 Portfolio, Investor Freedom 2025 Portfolio, Investor Freedom 2030 Portfolio, Money Market Portfolio, and Strategic Income Portfolio
