FIDELITY FIXED-INCOME TRUST: FIDELITY SHORT TERM BOND FUND AND
FIDELITY CHARLES STREET TRUST: SPARTAN SHORT TERM BOND FUND
INVESTMENTS AT OCTOBER 31, 1998 (UNAUDITED)
(AMOUNTS IN THOUSANDS)
FIDELITY SHORT- SPARTAN SHORT-
TERM BOND FUND TERM BOND FUND COMBINED
MOODY RATINGS PRINCIPAL VALUE PRINCIPAL VALUE PRINCIPAL
(UNAUDITED) AMOUNT (NOTE 1) AMOUNT (NOTE 1) AMOUNT
NONCONVERTIBLE BONDS - 41.3%
BASIC INDUSTRIES
CHEMICALS & PLASTICS
Methanex Corp. yankee 8.875% A2 $ 8,440 $ 8,704 $ 3,500 $ 3,610 $ 11,940
11/15/01
PACKAGING & CONTAINERS
Owens-Illinois, Inc. 7.15% Ba1 3,430 3,412 1,390 1,383 4,820
5/15/05
TOTAL BASIC INDUSTRIES 12,116 4,993
CONSTRUCTION & REAL ESTATE
REAL ESTATE INVESTMENT TRUSTS
Camden Property Trust 6.25% Baa2 6,600 6,521 2,825 2,791 9,425
2/15/01
CenterPoint Properties Trust Baa2 1,100 1,053 430 411 1,530
6.75% 4/1/05
EOP Operating LP:
6.375% 2/15/03 Baa1 2,920 2,869 1,250 1,228 4,170
6.376% 2/15/02 Baa1 2,200 2,173 900 889 3,100
Weeks Realty LP 6.875% 3/15/05 Baa2 3,000 2,796 1,100 1,025 4,100
15,412 6,344
ENERGY
OIL & GAS
Occidental Petroleum Corp. Baa3 1,570 1,587 580 586 2,150
6.09% 11/29/99
Oryx Energy Co.:
8.125% 10/15/05 Ba1 370 397 160 172 530
8.375% 7/15/04 Ba1 950 1,011 400 426 1,350
2,995 1,184
FINANCE
BANKS
Banc One Corp. 6.7% 3/24/00 Aa3 3,700 3,764 1,250 1,272 4,950
Banco Latinoamericano
Exportaciones SA euro:
6.45% 9/13/99 (a) Baa2 2,880 2,938 930 949 3,810
6.9% 12/4/99 (a) Baa2 1,700 1,712 550 554 2,250
BanPonce Corp. 6.488% 3/3/00 A3 3,450 3,509 1,290 1,312 4,740
BanPonce Financial Corp.
6.88% 6/16/00 A3 1,450 1,486 510 523 1,960
7.65% 5/3/00 A3 3,750 3,889 1,550 1,607 5,300
Barclays Bank PLC yankee A1 5,600 5,658 2,500 2,526 8,100
5.875% 7/15/00
Capital One Bank:
5.95% 2/15/01 2,000 1,982 2,000
COMBINED
VALUE
(NOTE 1)
NONCONVERTIBLE BONDS - 41.3%
BASIC INDUSTRIES
CHEMICALS & PLASTICS
Methanex Corp. yankee 8.875% $ 12,314
11/15/01
PACKAGING & CONTAINERS
Owens-Illinois, Inc. 7.15% 4,795
5/15/05
TOTAL BASIC INDUSTRIES 17,109
CONSTRUCTION & REAL ESTATE
REAL ESTATE INVESTMENT TRUSTS
Camden Property Trust 6.25% 9,312
2/15/01
CenterPoint Properties Trust 1,464
6.75% 4/1/05
EOP Operating LP:
6.375% 2/15/03 4,097
6.376% 2/15/02 3,062
Weeks Realty LP 6.875% 3/15/05 3,821
21,756
ENERGY
OIL & GAS
Occidental Petroleum Corp. 2,173
6.09% 11/29/99
Oryx Energy Co.:
8.125% 10/15/05 569
8.375% 7/15/04 1,437
4,179
FINANCE
BANKS
Banc One Corp. 6.7% 3/24/00 5,036
Banco Latinoamericano
Exportaciones SA euro:
6.45% 9/13/99 (a) 3,887
6.9% 12/4/99 (a) 2,266
BanPonce Corp. 6.488% 3/3/00 4,821
BanPonce Financial Corp.
6.88% 6/16/00 2,009
7.65% 5/3/00 5,496
Barclays Bank PLC yankee 8,184
5.875% 7/15/00
Capital One Bank:
5.95% 2/15/01 1,982
FIDELITY FIXED-INCOME TRUST: FIDELITY SHORT TERM BOND FUND AND
FIDELITY CHARLES STREET TRUST: SPARTAN SHORT TERM BOND FUND
INVESTMENTS AT OCTOBER 31, 1998 (UNAUDITED)
(AMOUNTS IN THOUSANDS)
FIDELITY SHORT- SPARTAN SHORT-
TERM BOND FUND TERM BOND FUND COMBINED
MOODY RATINGS PRINCIPAL VALUE PRINCIPAL VALUE PRINCIPAL
(UNAUDITED) AMOUNT (NOTE 1) AMOUNT (NOTE 1) AMOUNT
TECHNOLOGY
6.42% 11/12/99 Baa3 6,000 6,037 2,200 2,214 8,200
7.35% 6/20/00 Baa3 6,150 6,246 2,400 2,437 8,550
First USA Bank 6.5% 12/23/99 Aa2 5,400 5,468 1,700 1,721 7,100
KeyCorp. 7.45% 4/5/00 A1 3,250 3,360 1,100 1,137 4,350
NationsBank Corp. 5.75% 3/15/01 Aa2 7,700 7,818 3,000 3,046 10,700
Popular, Inc. 6.4% 8/25/00 A3 2,270 2,276 1,410 1,414 3,680
Providian National Bank:
6.25% 5/7/01 Baa3 3,200 3,231 1,300 1,313 4,500
6.7% 3/15/03 Baa3 5,000 5,013 1,800 1,805 6,800
62,405 25,812
CREDIT & OTHER FINANCE
Abbey National PLC 6.69% Aa3 5,400 5,563 2,400 2,472 7,800
10/17/05
Aristar, Inc. 6% 8/1/01 A3 4,500 4,518 3,200 3,213 7,700
AT&T Capital Corp.:
6.16% 12/3/99 Baa3 5,690 5,769 1,940 1,967 7,630
6.25% 5/15/01 Baa3 7,310 7,253 2,500 2,481 9,810
Chrysler Financial Corp.:
5.25% 5/4/01 A2 6,400 6,394 2,800 2,797 9,200
8.42% 2/1/99 A3 2,500 2,517 2,500
Chrysler Financial LLC 6.375% A2 5,460 5,527 1,720 1,741 7,180
1/28/00
Edison Mission Energy Funding Baa1 5,117 5,300 1,667 1,727 6,784
Corp. 6.77% 9/15/03 (a)
ERP Operating LP 6.55% 11/15/01 A3 800 800 350 350 1,150
Finova Capital Corp. 6.27% Baa1 1,650 1,655 580 582 2,230
9/29/00
Ford Motor Credit Co. 5.125% A1 3,400 3,378 1,300 1,292 4,700
10/15/01
General Electric Capital Aaa 2,600 2,672 5,000 5,138 7,600
Corp. 6.01% 4/30/01
General Motors Acceptance
Corp.:
5.85% 4/20/00 A2 14,820 14,966 4,480 4,524 19,300
9% 10/15/02 A2 3,000 3,357 3,000
GS Escrow Corp. 6.75% 8/1/01 Ba1 5,400 5,286 2,400 2,349 7,800
(a)
Heller Financial, Inc. 6.25% A3 4,000 4,024 1,500 1,509 5,500
3/1/01
MCN Investment Corp. 5.84% Baa3 3,640 3,642 1,450 1,451 5,090
2/1/99
Money Store, Inc. 7.3% 12/1/02 A2 1,870 1,983 650 689 2,520
North America Mortgage Co. Baa2 2,250 2,247 750 749 3,000
5.8% 11/2/98
Salton Sea Funding Corp. Baa2 2,121 2,141 654 660 2,775
7.02% 5/30/00
85,635 39,048
COMBINED
VALUE
(NOTE 1)
TECHNOLOGY
6.42% 11/12/99 8,251
7.35% 6/20/00 8,683
First USA Bank 6.5% 12/23/99 7,189
KeyCorp. 7.45% 4/5/00 4,497
NationsBank Corp. 5.75% 3/15/01 10,864
Popular, Inc. 6.4% 8/25/00 3,690
Providian National Bank:
6.25% 5/7/01 4,544
6.7% 3/15/03 6,818
88,217
CREDIT & OTHER FINANCE
Abbey National PLC 6.69% 8,035
10/17/05
Aristar, Inc. 6% 8/1/01 7,731
AT&T Capital Corp.:
6.16% 12/3/99 7,736
6.25% 5/15/01 9,734
Chrysler Financial Corp.:
5.25% 5/4/01 9,191
8.42% 2/1/99 2,517
Chrysler Financial LLC 6.375% 7,268
1/28/00
Edison Mission Energy Funding 7,027
Corp. 6.77% 9/15/03 (a)
ERP Operating LP 6.55% 11/15/01 1,150
Finova Capital Corp. 6.27% 2,237
9/29/00
Ford Motor Credit Co. 5.125% 4,670
10/15/01
General Electric Capital 7,810
Corp. 6.01% 4/30/01
General Motors Acceptance
Corp.:
5.85% 4/20/00 19,490
9% 10/15/02 3,357
GS Escrow Corp. 6.75% 8/1/01 7,635
(a)
Heller Financial, Inc. 6.25% 5,533
3/1/01
MCN Investment Corp. 5.84% 5,093
2/1/99
Money Store, Inc. 7.3% 12/1/02 2,672
North America Mortgage Co. 2,996
5.8% 11/2/98
Salton Sea Funding Corp. 2,801
7.02% 5/30/00
124,683
FIDELITY FIXED-INCOME TRUST: FIDELITY SHORT TERM BOND FUND AND
FIDELITY CHARLES STREET TRUST: SPARTAN SHORT TERM BOND FUND
INVESTMENTS AT OCTOBER 31, 1998 (UNAUDITED)
(AMOUNTS IN THOUSANDS)
FIDELITY SHORT- SPARTAN SHORT-
TERM BOND FUND TERM BOND FUND COMBINED
MOODY RATINGS PRINCIPAL VALUE PRINCIPAL VALUE PRINCIPAL
(UNAUDITED) AMOUNT (NOTE 1) AMOUNT (NOTE 1) AMOUNT
SAVINGS & LOANS
Great Western Financial Corp. A3 1,025 1,030 1,025
6.375% 7/1/00
Long Island Savings Bank FSB:
6.2% 4/2/01 Baa3 3,500 3,496 1,650 1,648 5,150
7% 6/13/02 Baa3 3,080 3,155 970 994 4,050
6,651 3,672
SECURITIES INDUSTRY
Amvescap PLC Yankee 6.375% A3 2,800 2,868 1,100 1,127 3,900
5/15/03
TOTAL FINANCE 157,559 69,659
INDUSTRIAL MACHINERY &
EQUIPMENT
INDUSTRIAL MACHINERY &
EQUIPMENT
Tyco International Group SA Baa1 5,500 5,611 2,250 2,295 7,750
yankee 6.125% 6/15/01
POLLUTION CONTROL
WMX Technologies, Inc. 6.25% Baa3 4,435 4,481 750 758 5,185
10/15/00
TOTAL INDUSTRIAL MACHINERY & 10,092 3,053
EQUIPMENT
MEDIA & LEISURE
BROADCASTING
Continental Cablevision, Inc.:
8.3% 5/15/06 Baa3 820 899 320 351 1,140
8.5% 9/15/01 Baa3 5,755 6,109 2,104 2,234 7,859
TCI Communications, Inc.:
6.375% 9/15/99 Baa3 9,675 9,761 3,075 3,102 12,750
8.25% 1/15/03 Baa3 725 801 220 243 945
9% 1/2/02 Ba1 2,300 2,544 730 808 3,030
Time Warner, Inc.:
7.95% 2/1/00 Baa3 8,775 9,018 4,330 4,450 13,105
7.975% 8/15/00 Baa3 1,650 1,825 675 747 2,325
30,957 11,935
ENTERTAINMENT
Paramount Communications, Baa3 2,620 2,741 992 1,038 3,612
Inc.7.5% 1/15/02
Viacom, Inc.:
6.75% 1/15/03 Baa3 11,320 11,671 4,455 4,593 15,775
7.75% 8/1/05 Baa3 4,300 4,635 1,950 2,102 6,250
19,047 7,733
COMBINED
VALUE
(NOTE 1)
SAVINGS & LOANS
Great Western Financial Corp. 1,030
6.375% 7/1/00
Long Island Savings Bank FSB:
6.2% 4/2/01 5,144
7% 6/13/02 4,149
10,323
SECURITIES INDUSTRY
Amvescap PLC Yankee 6.375% 3,995
5/15/03
TOTAL FINANCE 227,218
INDUSTRIAL MACHINERY &
EQUIPMENT
INDUSTRIAL MACHINERY &
EQUIPMENT
Tyco International Group SA 7,906
yankee 6.125% 6/15/01
POLLUTION CONTROL
WMX Technologies, Inc. 6.25% 5,239
10/15/00
TOTAL INDUSTRIAL MACHINERY & 13,145
EQUIPMENT
MEDIA & LEISURE
BROADCASTING
Continental Cablevision, Inc.:
8.3% 5/15/06 1,250
8.5% 9/15/01 8,343
TCI Communications, Inc.:
6.375% 9/15/99 12,863
8.25% 1/15/03 1,044
9% 1/2/02 3,352
Time Warner, Inc.:
7.95% 2/1/00 13,468
7.975% 8/15/00 2,572
42,892
ENTERTAINMENT
Paramount Communications, 3,779
Inc.7.5% 1/15/02
Viacom, Inc.:
6.75% 1/15/03 16,264
7.75% 8/1/05 6,737
26,780
FIDELITY FIXED-INCOME TRUST: FIDELITY SHORT TERM BOND FUND AND
FIDELITY CHARLES STREET TRUST: SPARTAN SHORT TERM BOND FUND
INVESTMENTS AT OCTOBER 31, 1998 (UNAUDITED)
(AMOUNTS IN THOUSANDS)
FIDELITY SHORT- SPARTAN SHORT-
TERM BOND FUND TERM BOND FUND COMBINED
MOODY RATINGS PRINCIPAL VALUE PRINCIPAL VALUE PRINCIPAL
(UNAUDITED) AMOUNT (NOTE 1) AMOUNT (NOTE 1) AMOUNT
PUBLISHING
News America Holdings, Inc. Baa3 4,300 4,723 1,440 1,582 5,740
8.5% 2/15/05
Time Warner Entertainment Baa2 1,900 2,130 800 897 2,700
Co. LP 9.625% 5/1/02
6,853 2,479
TOTAL MEDIA & LEISURE 56,857 22,147
NONDURABLES
FOODS
Dole Food, Inc. 6.75% 7/15/00 Baa2 6,300 6,343 2,290 2,305 8,590
TOBACCO
Philip Morris Companies, Inc.:
7.125% 12/1/99 A2 7,000 7,130 2,300 2,343 9,300
7.25% 9/15/01 A2 2,545 2,654 830 866 3,375
9,784 3,209
TOTAL NONDURABLES 16,127 5,514
RETAIL & WHOLESALE
GENERAL MERCHANDISE STORES
Dayton Hudson Corp.:
6.8% 10/1/01 A3 4,870 5,043 1,600 1,657 6,470
9.75% 7/1/02 A3 2,980 3,388 930 1,057 3,910
10% 12/1/00 A3 2,380 2,594 1,133 1,235 3,513
Federated Department Stores, Baa2 4,380 4,679 1,595 1,704 5,975
Inc. 8.125% 10/15/02
15,704 5,653
TECHNOLOGY
COMPUTER SERVICES & SOFTWARE
Computer Associates Baa1 1,760 1,756 700 698 2,460
International, Inc. 6.25%
4/15/03
COMPUTER & OFFICE EQUIPMENT
Comdisco, Inc.:
5.86% 4/7/00 Baa1 1,090 1,100 3,900 3,937 4,990
6.55% 2/4/00 Baa1 12,400 12,645 4,500 4,589 16,900
6.1% 6/5/01 Baa1 14,210 14,532 2580 2638 16,790
7.75% 9/1/99 Baa1 4,000 4,048 4,000
32,325 11,164
TOTAL TECHNOLOGY 34,081 11,862
COMBINED
VALUE
(NOTE 1)
PUBLISHING
News America Holdings, Inc. 6,305
8.5% 2/15/05
Time Warner Entertainment 3,027
Co. LP 9.625% 5/1/02
9,332
TOTAL MEDIA & LEISURE 79,004
NONDURABLES
FOODS
Dole Food, Inc. 6.75% 7/15/00 8,648
TOBACCO
Philip Morris Companies, Inc.:
7.125% 12/1/99 9,473
7.25% 9/15/01 3,520
12,993
TOTAL NONDURABLES 21,641
RETAIL & WHOLESALE
GENERAL MERCHANDISE STORES
Dayton Hudson Corp.:
6.8% 10/1/01 6,700
9.75% 7/1/02 4,445
10% 12/1/00 3,829
Federated Department Stores, 6,383
Inc. 8.125% 10/15/02
21,357
TECHNOLOGY
COMPUTER SERVICES & SOFTWARE
Computer Associates 2,454
International, Inc. 6.25%
4/15/03
COMPUTER & OFFICE EQUIPMENT
Comdisco, Inc.:
5.86% 4/7/00 5,037
6.55% 2/4/00 17,234
6.1% 6/5/01 17,170
7.75% 9/1/99 4,048
43,489
TOTAL TECHNOLOGY 45,943
FIDELITY FIXED-INCOME TRUST: FIDELITY SHORT TERM BOND FUND AND
FIDELITY CHARLES STREET TRUST: SPARTAN SHORT TERM BOND FUND
INVESTMENTS AT OCTOBER 31, 1998 (UNAUDITED)
(AMOUNTS IN THOUSANDS)
FIDELITY SHORT- SPARTAN SHORT-
TERM BOND FUND TERM BOND FUND COMBINED
MOODY RATINGS PRINCIPAL VALUE PRINCIPAL VALUE PRINCIPAL
(UNAUDITED) AMOUNT (NOTE 1) AMOUNT (NOTE 1) AMOUNT
TRANSPORTATION
AIR TRANSPORTATION
Continental Airlines, Inc. Baa1 2,500 2,506 1,250 1,253 3,750
Pass Through Trust
Certificates 7.08% 11/1/04
Delta Air Lines, Inc. 9.875% Baa3 1,150 1,218 475 503 1,625
5/15/00
3,724 1,756
RAILROADS
CSX Corp.:
7.05% 5/1/02 Baa2 3,850 4,007 1,250 1,301 5,100
9.5% 8/1/00 Baa2 3,200 3,407 2,500 2,662 5,700
Norfolk Southern Corp.:
6.7% 5/1/00 2,000 2,032 2,000
6.95% 5/1/02 Baa1 2,300 2,402 800 835 3,100
9,816 6,830
TOTAL TRANSPORTATION 13,540 8,586
UTILITIES
ELECTRIC UTILITY
Avon Energy Partners Holdings Baa2 2,800 2,901 1,000 1,036 3,800
yankee 6.73% 12/11/02 (a)
Indiana Michigan Power Co. Baa1 5,500 5,604 2,000 2,038 7,500
6.4% 3/1/00
Niagara Mohawk Power Corp. Ba1 2,000 2,056 850 874 2,850
6.875% 3/1/01
Ohio Edison Co. 7.375% 9/15/02 Baa2 2,900 3,051 900 947 3,800
Philadelphia Electric Co.:
5.625% 11/1/01 Baa1 2,200 2,211 840 844 3,040
6.5% 5/1/03 Baa1 1,550 1,614 700 729 2,250
Texas Utilities Electric Co. Baa1 2,700 2,757 1,000 1,021 3,700
7.375% 11/1/99
20,194 7,489
GAS
Arkla, Inc. 8.875% 7/15/99 Baa1 2,500 2,572 5,500 5,658 8,000
TELEPHONE SERVICES
MCI WorldCom, Inc.:
6.125% 8/15/01 Baa2 6,765 6,917 2,865 2,930 9,630
8.875% 1/15/06 Baa2 1,881 2,061 627 687 2,508
9.375% 1/15/04 Baa2 3,333 3,468 1,176 1,224 4,509
12,446 4,841
TOTAL UTILITIES 35,212 17,988
TOTAL NONCONVERTABLE BONDS 369,695 156,983
COMBINED
VALUE
(NOTE 1)
TRANSPORTATION
AIR TRANSPORTATION
Continental Airlines, Inc. 3,759
Pass Through Trust
Certificates 7.08% 11/1/04
Delta Air Lines, Inc. 9.875% 1,721
5/15/00
5,480
RAILROADS
CSX Corp.:
7.05% 5/1/02 5,308
9.5% 8/1/00 6,069
Norfolk Southern Corp.:
6.7% 5/1/00 2,032
6.95% 5/1/02 3,237
16,646
TOTAL TRANSPORTATION 22,126
UTILITIES
ELECTRIC UTILITY
Avon Energy Partners Holdings 3,937
yankee 6.73% 12/11/02 (a)
Indiana Michigan Power Co. 7,642
6.4% 3/1/00
Niagara Mohawk Power Corp. 2,930
6.875% 3/1/01
Ohio Edison Co. 7.375% 9/15/02 3,998
Philadelphia Electric Co.:
5.625% 11/1/01 3,055
6.5% 5/1/03 2,343
Texas Utilities Electric Co. 3,778
7.375% 11/1/99
27,683
GAS
Arkla, Inc. 8.875% 7/15/99 8,230
TELEPHONE SERVICES
MCI WorldCom, Inc.:
6.125% 8/15/01 9,847
8.875% 1/15/06 2,748
9.375% 1/15/04 4,692
17,287
TOTAL UTILITIES 53,200
TOTAL NONCONVERTABLE BONDS 526,678
FIDELITY FIXED-INCOME TRUST: FIDELITY SHORT TERM BOND FUND AND
FIDELITY CHARLES STREET TRUST: SPARTAN SHORT TERM BOND FUND
INVESTMENTS AT OCTOBER 31, 1998 (UNAUDITED)
(AMOUNTS IN THOUSANDS)
FIDELITY SHORT- SPARTAN SHORT-
TERM BOND FUND TERM BOND FUND COMBINED
MOODY RATINGS PRINCIPAL VALUE PRINCIPAL VALUE PRINCIPAL
(UNAUDITED) AMOUNT (NOTE 1) AMOUNT (NOTE 1) AMOUNT
U.S. GOVERNMENT AND
GOVERNMENT AGENCY
OBLIGATIONS - 16.5%
U.S. GOVERNMENT AGENCY
OBLIGATIONS
Federal Home Loan Bank 5.83% Aaa 5,000 5,060 5,000
12/24/99
Government trust Certificates
(assests of Trust guaranteed
by U.S. Government
Through Defense Security Aaa 898 952 312 330 1,210
Assistance Agency) Class
T-3, 9.625% 5/15/02
Guaranteed Export Trust
Certificates (assets of
Trust guaranteed by U.S.
Government through
Export-Import Bank):
Series 1994-C, 6.61% 9/15/99 Aaa 142 143 120 120 262
Series 1995-A, 6.28% 6/15/04 Aaa 4,235 4,380 1,412 1,460 5,647
Israel Export Trust
Certificates (assets of
Trust guaranteed by U.S.
Government through Aaa 1,398 1,455 577 601 1,975
Export-Import Bank) Series
1994-1, 6.88% 1/26/03
Private Export Funding Corp. 1,029 1,081 993 1,044 2,022
secured 6.86% 4/30/04
8,011 8,615
U.S. TREASURY OBLIGATIONS
U.S. Treasury Notes:
5.375% 2/15/01 Aaa 30,110 30,787 2,575 2,633 32,685
5.5% 3/31/00 Aaa 63,500 64,447 24,700 25,065 88,200
5.625% 11/30/99 Aaa 4,270 4,324 8,275 8,380 12,545
5.75% 10/31/00 Aaa 3,000 3,081 1,000 1,027 4,000
5.875% 2/15/00 Aaa 3,190 3,248 965 982 4,155
5.875% 7/31/99 Aaa 3,430 3,465 710 717 4,140
6.25% 2/28/02 Aaa 8,220 8,685 2,935 3,101 11,155
6.875% 3/31/00 Aaa 22,600 23,359 9,604 9,927 32,204
141,396 51,832
TOTAL U.S. GOVERNMENT AND 149,407 60,447
GOVERNMENT AGENCY OBLIGATIONS
U.S. GOVERNMENT AGENCY -
MORTGAGE SECURITIES - 8.7%
FANNIE MAE
6.5% 12/1/12 to 1/1/13 Aaa 5,317 5,395 5,317
6.5% 1/1/13 to 2/1/13 Aaa 16,108 16,345 16,108
6.5% 11/1/28 (b) Aaa 13,500 13,605 5,800 5,845 19,300
7% 11/1/28 (b) Aaa 12,500 12,773 12,500
7% 11/1/28 Aaa 5,500 5,620 5,500
11.5% 11/1/15 Aaa 1,085 1,208 446 496 1,531
43,931 17,356
COMBINED
VALUE
(NOTE 1)
U.S. GOVERNMENT AND
GOVERNMENT AGENCY
OBLIGATIONS - 16.5%
U.S. GOVERNMENT AGENCY
OBLIGATIONS
Federal Home Loan Bank 5.83% 5,060
12/24/99
Government trust Certificates
(assests of Trust guaranteed
by U.S. Government
Through Defense Security 1,282
Assistance Agency) Class
T-3, 9.625% 5/15/02
Guaranteed Export Trust
Certificates (assets of
Trust guaranteed by U.S.
Government through
Export-Import Bank):
Series 1994-C, 6.61% 9/15/99 263
Series 1995-A, 6.28% 6/15/04 5,840
Israel Export Trust
Certificates (assets of
Trust guaranteed by U.S.
Government through 2,056
Export-Import Bank) Series
1994-1, 6.88% 1/26/03
Private Export Funding Corp. 2,125
secured 6.86% 4/30/04
16,626
U.S. TREASURY OBLIGATIONS
U.S. Treasury Notes:
5.375% 2/15/01 33,420
5.5% 3/31/00 89,512
5.625% 11/30/99 12,704
5.75% 10/31/00 4,108
5.875% 2/15/00 4,230
5.875% 7/31/99 4,182
6.25% 2/28/02 11,786
6.875% 3/31/00 33,286
193,228
TOTAL U.S. GOVERNMENT AND 209,854
GOVERNMENT AGENCY OBLIGATIONS
U.S. GOVERNMENT AGENCY -
MORTGAGE SECURITIES - 8.7%
FANNIE MAE
6.5% 12/1/12 to 1/1/13 5,395
6.5% 1/1/13 to 2/1/13 16,345
6.5% 11/1/28 (b) 19,450
7% 11/1/28 (b) 12,773
7% 11/1/28 5,620
11.5% 11/1/15 1,704
61,287
FIDELITY FIXED-INCOME TRUST: FIDELITY SHORT TERM BOND FUND AND
FIDELITY CHARLES STREET TRUST: SPARTAN SHORT TERM BOND FUND
INVESTMENTS AT OCTOBER 31, 1998 (UNAUDITED)
(AMOUNTS IN THOUSANDS)
FIDELITY SHORT- SPARTAN SHORT-
TERM BOND FUND TERM BOND FUND COMBINED
MOODY RATINGS PRINCIPAL VALUE PRINCIPAL VALUE PRINCIPAL
(UNAUDITED) AMOUNT (NOTE 1) AMOUNT (NOTE 1) AMOUNT
FREDDIE MAC
7% 1/22/01 to 8/1/01 Aaa 1,874 1,893 1,001 1,009 2,875
8.5% 6/1/24 to 7/1/28 Aaa 4,480 4,670 1,840 1,915 6,320
12% 11/1/19 Aaa 273 313 109 125 382
6,876 3,049
GOVERNMENT NATIONAL MORTGAGE
ASSOCIATION
7.5% 9/15/22 to 8/15/28 (c) Aaa 13,542 13,946 5,847 6,029 19,389
9.5% 3/15/16 to 12/15/20 Aaa 4,316 4,658 1,552 1,675 5,868
11% 12/15/09 to 8/15/20 Aaa 5,028 5,533 1,997 2,195 7,025
11.5% 4/15/13 to 7/15/15 Aaa 1,726 1,923 676 752 2,402
12% 2/15/16 Aaa 1,597 1,795 592 666 2,189
27,855 11,317
TOTAL U.S. GOVERNMENT AGENCY 78,662 31,722
- - MORTGAGE SECURITIES
ASSET-BACKED SECURITIES 17.4%
Aesop Funding II LLC 6.22% Aaa 4,500 4,582 4,500
10/20/01 (a)
Arcadia Automobile Aaa 3,700 3,715 1,500 1,506 5,200
Receivables Trust 5.67%
1/15/04
Boatmans Auto Trust 6.35% A2 1,375 1,377 610 611 1,985
10/15/01
Capital equipment Receivables
Trust:
6.45% 8/15/02 Aa3 5,100 5,259 1,700 1,753 6,800
6.57% 3/15/01 Aa3 2,230 2,272 810 825 3,040
Case Equipment Loan Trust:
5.85% 2/15/03 Aa2 1,770 1,765 690 688 2,460
6.15% 9/15/02 Aaa 3,907 3,931 1,639 1,649 5,546
6.45% 9/15/02 Aaa 3,000 3,081 1,330 1,366 4,330
Caterpillar Financial Asset A3 1,080 1,085 321 322 1,401
Trust 6.55% 5/25/02
Chase Manhattan Marine Owner Aaa 4,400 4,489 1,900 1,939 6,300
Trust 6.25% 4/16/07
Chevy Chase Auto Receivables
Trust:
5.97% 10/20/04 Aaa 4,620 4,654 1,667 1,679 6,287
6.2% 3/20/04 Aaa 1,929 1,946 772 779 2,701
Citibank Credit Card Master Aaa 4,100 4,158 1,300 1,318 5,400
Trust I 5.75% 1/15/03
Contimortgage Home Equity
Loan Trust:
6.26% 7/15/12 Aaa 8,800 8,800 2,450 2,450 11,250
6.3% 7/15/12 Aaa 3,300 3,321 1,100 1,107 4,400
CPS Auto Grantor Trust:
6.09% 11/15/03 Aaa 2,515 2,519 1,024 1,026 3,539
6.7% 2/15/02 Aaa 836 841 299 301 1,135
COMBINED
VALUE
(NOTE 1)
FREDDIE MAC
7% 1/22/01 to 8/1/01 2,902
8.5% 6/1/24 to 7/1/28 6,585
12% 11/1/19 438
9,925
GOVERNMENT NATIONAL MORTGAGE
ASSOCIATION
7.5% 9/15/22 to 8/15/28 (c) 19,975
9.5% 3/15/16 to 12/15/20 6,333
11% 12/15/09 to 8/15/20 7,728
11.5% 4/15/13 to 7/15/15 2,675
12% 2/15/16 2,461
39,172
TOTAL U.S. GOVERNMENT AGENCY 110,384
- - MORTGAGE SECURITIES
ASSET-BACKED SECURITIES 17.4%
Aesop Funding II LLC 6.22% 4,582
10/20/01 (a)
Arcadia Automobile 5,221
Receivables Trust 5.67%
1/15/04
Boatmans Auto Trust 6.35% 1,988
10/15/01
Capital equipment Receivables
Trust:
6.45% 8/15/02 7,012
6.57% 3/15/01 3,097
Case Equipment Loan Trust:
5.85% 2/15/03 2,453
6.15% 9/15/02 5,580
6.45% 9/15/02 4,447
Caterpillar Financial Asset 1,407
Trust 6.55% 5/25/02
Chase Manhattan Marine Owner 6,428
Trust 6.25% 4/16/07
Chevy Chase Auto Receivables
Trust:
5.97% 10/20/04 6,333
6.2% 3/20/04 2,725
Citibank Credit Card Master 5,476
Trust I 5.75% 1/15/03
Contimortgage Home Equity
Loan Trust:
6.26% 7/15/12 11,250
6.3% 7/15/12 4,428
CPS Auto Grantor Trust:
6.09% 11/15/03 3,545
6.7% 2/15/02 1,142
FIDELITY FIXED-INCOME TRUST: FIDELITY SHORT TERM BOND FUND AND
FIDELITY CHARLES STREET TRUST: SPARTAN SHORT TERM BOND FUND
INVESTMENTS AT OCTOBER 31, 1998 (UNAUDITED)
(AMOUNTS IN THOUSANDS)
FIDELITY SHORT- SPARTAN SHORT-
TERM BOND FUND TERM BOND FUND COMBINED
MOODY RATINGS PRINCIPAL VALUE PRINCIPAL VALUE PRINCIPAL
(UNAUDITED) AMOUNT (NOTE 1) AMOUNT (NOTE 1) AMOUNT
CPS Auto Receivables Trust 6% Aaa 2,646 2,675 2,646
8/15/03
CS First Boston Mortgage Aaa 2,200 2,234 1,700 1,726 3,900
Securities Corp. 7% 3/15/27
Discover Card Master Trust I A2 12,199 12,104 4,920 4,882 17,119
6.0006% 7/18/05 (d)
Fidelity Funding Auto Trust Aaa 1,024 1,043 339 346 1,363
6.99% 11/15/02 (a)
Ford Credit Auto Owner Trust A2 4,900 4,912 1,800 1,805 6,700
6.15% 9/15/02
Ford Credit Grantor Trust Aaa 2,191 2,197 917 920 3,108
5.9% 10/15/00
General Motors Acceptance Aaa 988 988 373 373 1,361
Crop. Grantor Trust 7.15%
3/15/00
Green Tree Financial Corp.:
5.5% 1/31/00 Aaa 116 116 42 42 158
5.8% 2/15/27 Aaa 538 538 538
6.1% 2/15/27 to 4/15/27 Aaa 1,956 1,957 756 757 2,712
6.45% 5/15/27 Aaa 1,388 1,391 530 531 1,918
6.5% 6/15/27 Aaa 915 915 325 325 1,240
Key Auto Finance Trust 6.65% Baa3 814 826 268 272 1,082
10/15/03
KeyCorp Auto Grantor Trust A3 87 87 38 38 125
5.8% 7/15/00
Newcourt Equipment Trust Aaa 5,000 4,994 2,050 2,047 7,050
Securities sequential pay
Series 1998-1 Class A3,
5.24% 12/20/02
Norwest Automobile Trust 6.3% A2 3,375 3,406 1,130 1,140 4,505
5/15/03
Olympic Automobile
Receivables Trust :
6.125% 11/15/04 Aaa 1,696 1,731 565 577 2,261
6.4% 9/15/01 Aaa 3,800 3,861 1,280 1,300 5,080
Onyx Acceptance Grantor Trust:
5.95% 7/15/04 Aaa 5,194 5,237 2,078 2,095 7,272
6.2% 6/15/03 Aaa 2,899 2,922 1,242 1,252 4,141
Petroleum Enhanced Trust Baa2 4,923 4,917 1,511 1,509 6,434
Receivables Offering
Petroleum Trust 6.125%
2/5/03 (a)(d)
Premier Auto Trust:
5.7% 10/6/02 Aaa 9,500 9,601 3,800 3,840 13,300
5.82% 12/6/02 3,000 3,032 3,000
6% 5/6/00 Aaa 1,031 1,032 348 349 1,379
6.35% 7/6/00 A3 4,610 4,623 1,690 1,695 6,300
Reliance Auto Receivables Aaa 1,222 1,222 366 367 1,588
Corp., Inc. 6.1% 7/15/02 (a)
SCFC Recreational Vehicle Aaa 223 221 223
Loan Trust 7.25% 9/15/06
Sears Credit Account Master Aaa 3,800 3,870 1,800 1,833 5,600
Trust II 6.2% 2/16/06
TMS Auto Grantor Trust 5.9% Aaa 479 481 197 198 676
9/15/02
Tranex Auto Receivables Owner Aaa 2,550 2,586 834 846 3,384
Trust 6.334% 8/15/03 (a)
UFSB Grantor Trust 8.2% 1/10/01 Baa2 221 221 95 95 316
Union Acceptance Corp. 7.075% Baa2 354 355 157 157 511
7/10/02
Western Financial Grantor Aaa 1,899 1,928 789 801 2,688
Trust 5.875% 3/1/02
COMBINED
VALUE
(NOTE 1)
CPS Auto Receivables Trust 6% 2,675
8/15/03
CS First Boston Mortgage 3,960
Securities Corp. 7% 3/15/27
Discover Card Master Trust I 16,986
6.0006% 7/18/05 (d)
Fidelity Funding Auto Trust 1,389
6.99% 11/15/02 (a)
Ford Credit Auto Owner Trust 6,717
6.15% 9/15/02
Ford Credit Grantor Trust 3,117
5.9% 10/15/00
General Motors Acceptance 1,361
Crop. Grantor Trust 7.15%
3/15/00
Green Tree Financial Corp.:
5.5% 1/31/00 158
5.8% 2/15/27 538
6.1% 2/15/27 to 4/15/27 2,714
6.45% 5/15/27 1,922
6.5% 6/15/27 1,240
Key Auto Finance Trust 6.65% 1,098
10/15/03
KeyCorp Auto Grantor Trust 125
5.8% 7/15/00
Newcourt Equipment Trust 7,041
Securities sequential pay
Series 1998-1 Class A3,
5.24% 12/20/02
Norwest Automobile Trust 6.3% 4,546
5/15/03
Olympic Automobile
Receivables Trust :
6.125% 11/15/04 2,308
6.4% 9/15/01 5,161
Onyx Acceptance Grantor Trust:
5.95% 7/15/04 7,332
6.2% 6/15/03 4,174
Petroleum Enhanced Trust 6,426
Receivables Offering
Petroleum Trust 6.125%
2/5/03 (a)(d)
Premier Auto Trust:
5.7% 10/6/02 13,441
5.82% 12/6/02 3,032
6% 5/6/00 1,381
6.35% 7/6/00 6,318
Reliance Auto Receivables 1,589
Corp., Inc. 6.1% 7/15/02 (a)
SCFC Recreational Vehicle 221
Loan Trust 7.25% 9/15/06
Sears Credit Account Master 5,703
Trust II 6.2% 2/16/06
TMS Auto Grantor Trust 5.9% 679
9/15/02
Tranex Auto Receivables Owner 3,432
Trust 6.334% 8/15/03 (a)
UFSB Grantor Trust 8.2% 1/10/01 316
Union Acceptance Corp. 7.075% 512
7/10/02
Western Financial Grantor 2,729
Trust 5.875% 3/1/02
FIDELITY FIXED-INCOME TRUST: FIDELITY SHORT TERM BOND FUND AND
FIDELITY CHARLES STREET TRUST: SPARTAN SHORT TERM BOND FUND
INVESTMENTS AT OCTOBER 31, 1998 (UNAUDITED)
(AMOUNTS IN THOUSANDS)
FIDELITY SHORT- SPARTAN SHORT-
TERM BOND FUND TERM BOND FUND COMBINED
MOODY RATINGS PRINCIPAL VALUE PRINCIPAL VALUE PRINCIPAL
(UNAUDITED) AMOUNT (NOTE 1) AMOUNT (NOTE 1) AMOUNT
WFS Financial Owner Trust:
6.4% 7/20/02 Aaa 6,840 7,069 6,840
6.9% 12/20/03 Aaa 5,020 5,227 1,630 1,697 6,650
7.05% 11/20/03 Aaa 7,410 7,716 2,510 2,614 9,920
TOTAL ASSET-BACKED SECURITIES 160,323 61,455
COLLATERIZED MORTGAGE
OBLIGATIONS - 1.7%
PRIVATE SPONSOR
GE Capital Mortgage Services, Aaa 2,155 2,163 697 699 2,852
Inc. planned amortization
class Series 1994-2 Class
A-4, 6% 1/25/09
Residential Funding Mortgage
Securities I, Inc. planned
amortization class
Series 1994-S12 Class A-2, Aa1 6,730 6,797 2,892 2,921 9,622
6.5% 4/25/09
8,960 3,620
U.S. GOVERNMENT AGENCY
Fannie Mae ACES sequential Aaa 5,852 5,973 2,464 2,515 8,316
pay Series 1995-M1 Class
A-2, 6.65% 7/25/10
TOTAL COLLATERALIZED MORTGAGE 14,933 6,135
OBLIGATIONS
COMERCIAL MORTGAGE SECURITIES
- - 6.9%
Allied Capital Commercial Aaa 4,141 4,134 1,380 1,378 5,521
Mortgage Trust sequential
pay Series 1998-1 Class A,
6.31% 1/25/28 (a)
Bankers Trust Remic Trust Baa2 6,715 6,558 2,270 2,217 8,985
1998-1 floater Series
1998-S1A Class D, 6.5023%
11/28/02 (a) (d)
BKB Commercial Mortgage Trust AA 1,516 1,512 506 504 2,022
Series 1997 C1 Class B,
7.218% 2/25/43 (a) (d)
CBM Funding Corp. sequential
pay Series 1996-1:
Class A 1, 7.55% 7/1/99 AA 144 144 56 56 200
Class A-2, 6.88% 7/1/02 AA 2,170 2,227 870 893 3,040
CS First Boston Mortgage
Securities Corp.:
sequential pay Series -- 6,604 6,612 2,302 2,305 8,906
1997-SPICE Class A, 6.653%
8/20/36 (a)
Series 1998 FLI Class E, Baa2 6,500 6,319 2,800 2,722 9,300
6.1938% 1/10/13 (a) (d)
DLJ Commercial Mortgage Corp. A2 2,740 2,726 1,090 1,085 3,830
floater Series 1998-STFA
Class A-3, 60075% 1/8/11 (a)
Equitable Life Assurance
Society of the United States
(The):
floater Series 174 Class Baa2 2,300 2,258 1,000 982 3,300
D-2, 6.7063% 5/15/03 (a) (d)
sequential pay Series 174 Aaa 2,500 2,673 1,000 1,069 3,500
Class A1, 7.24% 5/15/06 (a)
COMBINED
VALUE
(NOTE 1)
WFS Financial Owner Trust:
6.4% 7/20/02 7,069
6.9% 12/20/03 6,924
7.05% 11/20/03 10,330
TOTAL ASSET-BACKED SECURITIES 221,778
COLLATERIZED MORTGAGE
OBLIGATIONS - 1.7%
PRIVATE SPONSOR
GE Capital Mortgage Services, 2,862
Inc. planned amortization
class Series 1994-2 Class
A-4, 6% 1/25/09
Residential Funding Mortgage
Securities I, Inc. planned
amortization class
Series 1994-S12 Class A-2, 9,718
6.5% 4/25/09
12,580
U.S. GOVERNMENT AGENCY
Fannie Mae ACES sequential 8,488
pay Series 1995-M1 Class
A-2, 6.65% 7/25/10
TOTAL COLLATERALIZED MORTGAGE 21,068
OBLIGATIONS
COMERCIAL MORTGAGE SECURITIES
- - 6.9%
Allied Capital Commercial 5,512
Mortgage Trust sequential
pay Series 1998-1 Class A,
6.31% 1/25/28 (a)
Bankers Trust Remic Trust 8,775
1998-1 floater Series
1998-S1A Class D, 6.5023%
11/28/02 (a) (d)
BKB Commercial Mortgage Trust 2,016
Series 1997 C1 Class B,
7.218% 2/25/43 (a) (d)
CBM Funding Corp. sequential
pay Series 1996-1:
Class A 1, 7.55% 7/1/99 200
Class A-2, 6.88% 7/1/02 3,120
CS First Boston Mortgage
Securities Corp.:
sequential pay Series 8,917
1997-SPICE Class A, 6.653%
8/20/36 (a)
Series 1998 FLI Class E, 9,041
6.1938% 1/10/13 (a) (d)
DLJ Commercial Mortgage Corp. 3,811
floater Series 1998-STFA
Class A-3, 60075% 1/8/11 (a)
Equitable Life Assurance
Society of the United States
(The):
floater Series 174 Class 3,240
D-2, 6.7063% 5/15/03 (a) (d)
sequential pay Series 174 3,742
Class A1, 7.24% 5/15/06 (a)
FIDELITY FIXED-INCOME TRUST: FIDELITY SHORT TERM BOND FUND AND
FIDELITY CHARLES STREET TRUST: SPARTAN SHORT TERM BOND FUND
INVESTMENTS AT OCTOBER 31, 1998 (UNAUDITED)
(AMOUNTS IN THOUSANDS)
FIDELITY SHORT- SPARTAN SHORT-
TERM BOND FUND TERM BOND FUND COMBINED
MOODY RATINGS PRINCIPAL VALUE PRINCIPAL VALUE PRINCIPAL
(UNAUDITED) AMOUNT (NOTE 1) AMOUNT (NOTE 1) AMOUNT
Federal Deposit Insurance
Corp. Remic Trust:
sequential pay Series Aaa 1,060 1,061 498 498 1,558
1994-C1 Class II-A2, 7.85%
9/25/25
sequential pay Series Aaa 4,335 4,347 1,254 1,257 5,589
1996-C1 Class A1, 6.75%
7/25/26
FMAC Loan Receivables Trust Aaa 1,308 1,322 545 551 1,853
1998-C sequential pay Series
1998-C Class A1 Notes, 5.99%
9/15/20 (a)
Franchise Loan Trust 1998-1 Aaa 3,812 3,854 1,662 1,680 5,474
sequential pay Series 1998-I
Class A1 Notes, 6.24%
7/15/20 (a)
Kidder Peabody Acceptance Aa2 940 938 311 310 1,251
Corp. I sequential pay
Series 1993-M1 Class A-2,
7.15% 4/25/25
Nomura Asset Securities Corp. -- 2,006 2,007 892 892 2,898
floater Series 1994-MD-II
Class A-6, 6.9095% 7/7/03 (d)
Nomura Depositor Trust Baa2 5,400 5,076 2,210 2,077 7,610
floater Series 1998-ST1A
Class A-4, 6.489% 2/15/34
(a) (d)
Resolution Trust Corp.:
floater Series 1994-C1 Class AAA 434 434 195 195 629
A-3, 5.8625% 6/25/26 (d)
sequential pay Series 1995 Aaa 2,925 2,921 1,253 1,252 4,178
C-1 Class A2C, 6.9% 2/25/27
Structured Asset Securities
Corp.:
floater Series 1998-C2A A3 5,218 5,205 2,222 2,217 7,440
Class C, 5.6494% 1/25/13
(a)(d)
Series 1996-C3 Class A, AAA 1,078 1,073 359 358 1,437
6.75% 6/25/30 (a)(d)
TOTAL COMMERCIAL MORTGAGE 63,401 24,498
SECURITIES
FOREIGN GOVERNMENT AND
GOVERNMENT AGENCY
OBLIGATIONS - 0.9%
Ontario Province:
euro:
global 6.125% 6/28/00 (e) Aa3 2,700 2,760 1,000 1,022 3,700
8.5% 2/28/01 (e) Aa3 2,500 2,675 800 856 3,300
5.75% 11/7/00 (e) Aa3 2,740 2,770 1,010 1,021 3,750
TOTAL FOREIGN GOVERNMENT AND 8,205 2,899
GOVERNMENT AGENGCY OBLIGATIONS
SUPRANATIONAL OBLIGATIONS -
1.7%
African Development Bank:
7.75% 12/15/01 Aa1 5,090 5,437 1,670 1,784 6,760
9.3% 7/1/00 Aa1 10,270 10,896 3,540 3,756 13,810
TOTAL SUPRANATIONAL OBLIGATIONS 16,333 5,540
CERTIFICATES OF DEPOSIT - 0.7%
Canadian Imperial Bank of Aa3 6,885 6,997 2,180 2,216 9,065
Commerce, New York yankee
6.2% 8/1/00
COMBINED
VALUE
(NOTE 1)
Federal Deposit Insurance
Corp. Remic Trust:
sequential pay Series 1,559
1994-C1 Class II-A2, 7.85%
9/25/25
sequential pay Series 5,604
1996-C1 Class A1, 6.75%
7/25/26
FMAC Loan Receivables Trust 1,873
1998-C sequential pay Series
1998-C Class A1 Notes, 5.99%
9/15/20 (a)
Franchise Loan Trust 1998-1 5,534
sequential pay Series 1998-I
Class A1 Notes, 6.24%
7/15/20 (a)
Kidder Peabody Acceptance 1,248
Corp. I sequential pay
Series 1993-M1 Class A-2,
7.15% 4/25/25
Nomura Asset Securities Corp. 2,899
floater Series 1994-MD-II
Class A-6, 6.9095% 7/7/03 (d)
Nomura Depositor Trust 7,153
floater Series 1998-ST1A
Class A-4, 6.489% 2/15/34
(a) (d)
Resolution Trust Corp.:
floater Series 1994-C1 Class 629
A-3, 5.8625% 6/25/26 (d)
sequential pay Series 1995 4,173
C-1 Class A2C, 6.9% 2/25/27
Structured Asset Securities
Corp.:
floater Series 1998-C2A 7,422
Class C, 5.6494% 1/25/13
(a)(d)
Series 1996-C3 Class A, 1,431
6.75% 6/25/30 (a)(d)
TOTAL COMMERCIAL MORTGAGE 87,899
SECURITIES
FOREIGN GOVERNMENT AND
GOVERNMENT AGENCY
OBLIGATIONS - 0.9%
Ontario Province:
euro:
global 6.125% 6/28/00 (e) 3,782
8.5% 2/28/01 (e) 3,531
5.75% 11/7/00 (e) 3,791
TOTAL FOREIGN GOVERNMENT AND 11,104
GOVERNMENT AGENGCY OBLIGATIONS
SUPRANATIONAL OBLIGATIONS -
1.7%
African Development Bank:
7.75% 12/15/01 7,221
9.3% 7/1/00 14,652
TOTAL SUPRANATIONAL OBLIGATIONS 21,873
CERTIFICATES OF DEPOSIT - 0.7%
Canadian Imperial Bank of 9,213
Commerce, New York yankee
6.2% 8/1/00
FIDELITY FIXED-INCOME TRUST: FIDELITY SHORT TERM BOND FUND AND
FIDELITY CHARLES STREET TRUST: SPARTAN SHORT TERM BOND FUND
INVESTMENTS AT OCTOBER 31, 1998 (UNAUDITED)
(AMOUNTS IN THOUSANDS)
FIDELITY SHORT- SPARTAN SHORT-
TERM BOND FUND TERM BOND FUND COMBINED
MOODY RATINGS PRINCIPAL VALUE PRINCIPAL VALUE PRINCIPAL
(UNAUDITED) AMOUNT (NOTE 1) AMOUNT (NOTE 1) AMOUNT
CASH EQUIVALENTS - 4.2% MATURITY MATURITY
Investments in repurchase AMOUNT (000'S) AMOUNT (000'S)
agreements (U.S. Treasury
obligations),
in a joint trading account 34,889 34,873 18,760 18,751
at 5.64%, dated 10/30/98 due
11/2/98
TOTAL INVESTMENTS IN $ 902,829 $ 370,646
SECURITIES - 100%
TOTAL COST OF INVESTMENTS $ 899,249 $ 369,174
LEGEND
(a) Security exempt from
registration under Rule 144A
of the Securities Act of
1933. These securities may
be resold in transactions
exempted from registration,
normally to qualified
institutional buyers. At
the period end, the value of
these securities amounted to
$81,809,000 or 9.3% of net
assets for Fidelity
Short-Term Bond Fund,
$28,828,000 or 8.0% of the
net assets for Spartan
Short-Term Bond Fund and
$110,637,000 or 9.0% of the
net assets for the combined
funds.
(b) Security purchased on a
delayed delivery or when
issued basis.
(c) A portion of the security
was sold on a delayed
delivery or when issued basis.
(d) The coupon rate shown on
floating or adjustable rate
securities represents the
rate at period end.
(e) For foreign government
obligations not individually
rated by S&P or Moody's,
the ratings listed are
assigned to securities by
FMR, the fund's investment
advisor, based principally
on S&P and Moody's ratings
of the sovereign credit of
the issueing government.
COMBINED
PRINCIPAL VALUE
AMOUNT (NOTE 1)
CASH EQUIVALENTS - 4.2% MATURITY
Investments in repurchase AMOUNT (000'S)
agreements (U.S. Treasury
obligations),
in a joint trading account 53,649 53,624
at 5.64%, dated 10/30/98 due
11/2/98
TOTAL INVESTMENTS IN $ 1,273,475
SECURITIES - 100%
TOTAL COST OF INVESTMENTS $ 1,268,423
LEGEND
(a) Security exempt from
registration under Rule 144A
of the Securities Act of
1933. These securities may
be resold in transactions
exempted from registration,
normally to qualified
institutional buyers. At
the period end, the value of
these securities amounted to
$81,809,000 or 9.3% of net
assets for Fidelity
Short-Term Bond Fund,
$28,828,000 or 8.0% of the
net assets for Spartan
Short-Term Bond Fund and
$110,637,000 or 9.0% of the
net assets for the combined
funds.
(b) Security purchased on a
delayed delivery or when
issued basis.
(c) A portion of the security
was sold on a delayed
delivery or when issued basis.
(d) The coupon rate shown on
floating or adjustable rate
securities represents the
rate at period end.
(e) For foreign government
obligations not individually
rated by S&P or Moody's,
the ratings listed are
assigned to securities by
FMR, the fund's investment
advisor, based principally
on S&P and Moody's ratings
of the sovereign credit of
the issueing government.
FIDELITY FIXED-INCOME TRUST: FIDELITY SHORT TERM BOND FUND AND
FIDELITY CHARLES STREET TRUST: SPARTAN SHORT TERM BOND FUND
PRO FORMA COMBINING STATEMENT OF OPERATIONS
12 MONTHS ENDED OCTOBER 31, 1998
(UNAUDITED)
(AMOUNTS IN THOUSANDS)
FIDELITY SHORT TERM BOND FUND SPARTAN SHORT TERM BOND FUND COMBINED
INVESTMENT INCOME
Interest $ 56,905 $ 21,681 $ 78,586
EXPENSES
Management fee 3,679 2,095 5,774
Transfer agent fees 1,713 1,713
Accounting fees and expenses 273 273
Trustees' compensation 16 1 17
Custodian fees and expenses 44 44
Registration fees 21 21
Audit 69 69
Legal 3 3
Miscellaneous 4 4
Total expenses before 5,822 2,096 7,918
reductions
Expense reductions (73) (876) (e) (949)
Total expenses 5,749 1,220 6,969
NET INVESTMENT INCOME 51,156 20,461 71,617
REALIZED AND UNREALIZED GAIN
(LOSS)
Net realized gain (loss) on 725 146 871
investment securities
Change in net unrealized
appreciation
(depreciation) on 1,670 821 2,491
investment securities
NET GAIN (LOSS) 2,395 967 3,362
NET INCREASE (DECREASE) IN NET
ASSETS RESULTING FROM $ 53,551 $ 21,428 $ 74,979
OPERATIONS
PRO FORMA PRO FORMA
ADJUSTMENTS COMBINED
INVESTMENT INCOME
Interest $ $ 78,586
EXPENSES
Management fee (691) (b) 5,083
Transfer agent fees 377 (c) 2,090
Accounting fees and expenses 65 (c) 338
Trustees' compensation 17
Custodian fees and expenses 17 (c) 61
Registration fees 34 (d) 55
Audit (14) (c) 55
Legal 1 (c) 4
Miscellaneous 2 6
Total expenses before (209) 7,709
reductions
Expense reductions 556 (f) (393)
Total expenses 347 7,316
NET INVESTMENT INCOME (347) 71,270
REALIZED AND UNREALIZED GAIN
(LOSS)
Net realized gain (loss) on 871
investment securities
Change in net unrealized
appreciation
(depreciation) on 2,491
investment securities
NET GAIN (LOSS) 3,362
NET INCREASE (DECREASE) IN NET
ASSETS RESULTING FROM $ (347) $ 74,632
OPERATIONS
See accompanying notes which are an integral part of the financial
statements
FIDELITY FIXED-INCOME TRUST: FIDELITY SHORT TERM BOND FUND AND
FIDELITY CHARLES STREET TRUST: SPARTAN SHORT TERM BOND FUND
PRO FORMA COMBINING STATEMENT OF ASSETS & LIABILITIES AS OF OCTOBER
31, 1998
(UNAUDITED)
(AMOUNTS IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)
FIDELITY SHORT TERM BOND FUND SPARTAN SHORT TERM BOND FUND COMBINED
ASSETS
Investment in securities, at
value
- See accompanying schedule $ 902,829 370,646 $ 1,273,475
Commitment to sell (13,901) (5,972) (19,873)
securities on a delayed
delivery basis
Receivable for securities 13,926 5,983 19,909
sold on a delayed delivery
basis
Receivable for investments 8,477 3,115 11,592
sold
Receivable for fund shares 490 469 959
sold
Interest receivable 9,797 4,034 13,831
Other receivables 3 3
TOTAL ASSETS 921,621 378,275 1,299,896
LIABILITIES
Payable for investments
purchased
Regular delivery 16,002 18,270 34,272
Delayed delivery 26,267 26,267
Payable for fund shares 2,197 868 3,065
redeemed
Distributions payable 465 314 779
Accrued management fee 317 114 431
Other payables and accrued 233 4 237
expenses
TOTAL LIABILITIES 45,481 19,570 65,051
NET ASSETS $ 876,140 $ 358,705 $1,234,845
Net Assets consist of: Paid $1,042,828 $ 440,011 $1,482,839
in capital
Distributions in excess net (3,570) (1,279) (4,849)
investment income
Accumulated undistributed
net realized gain (loss)
on investments and (166,723) (81,510) (248,233)
foreign currency transactions
Net unrealized appreciation 3,605 1,483 5,088
(depreciation) on investments
NET ASSETS $ 876,140 $ 358,705 $1,234,845
NET ASSETS $ 876,140 $ 358,705 $1,234,845
Net Asset Value, offering $ 8.75 $ 9.09
price and redemption price
per share
Shares outstanding 100,126 39,469 139,595
PRO FORMA PRO FORMA
ADJUSTMENTS COMBINED
ASSETS
Investment in securities, at
value
- See accompanying schedule $ $ 1,273,475
Commitment to sell (19,873)
securities on a delayed
delivery basis
Receivable for securities 19,909
sold on a delayed delivery
basis
Receivable for investments 11,592
sold
Receivable for fund shares 959
sold
Interest receivable 13,831
Other receivables 3
TOTAL ASSETS 1,299,896
LIABILITIES
Payable for investments
purchased
Regular delivery 34,272
Delayed delivery 26,267
Payable for fund shares 3,065
redeemed
Distributions payable 779
Accrued management fee 431
Other payables and accrued 237
expenses
TOTAL LIABILITIES 65,051
NET ASSETS $ $ 1,234,845
Net Assets consist of: Paid 1,482,839
in capital
Distributions in excess net (4,849)
investment income
Accumulated undistributed
net realized gain (loss)
on investments and (248,233)
foreign currency transactions
Net unrealized appreciation 5,088
(depreciation) on investments
NET ASSETS $ $ 1,234,845
NET ASSETS $ 1,234,845
Net Asset Value, offering $ 8.75
price and redemption price
per share
Shares outstanding 1,526 (a) 141,121
See accompanying ntoes which are an integral part of the financial
statements
Fidelity Fixed-Income Trust: Fidelity Short Term Bond Fund and
Fidelity Charles Street Trust: Spartan Short Term Bond Fund
Notes to Pro Forma Combining Financial Statements
(Unaudited)
The accompanying unaudited Pro Forma Combining Schedule of
Investments and Statement of Assets and Liabilities as of October 31,
1998 and the unaudited Pro Forma Combining Statement of Operations for
the twelve months ended October 31, 1998 are intended to present the
financial condition and related results of operations of Fidelity
Short Term Bond Fund as if the reorganization with Spartan Short Term
Bond Fund, had been consummated at November 1, 1997. Had the pro
forma adjustments not included the effect of the FMR voluntary expense
limitations, Pro Forma Combined Expense reductions would have been
$41,000, resulting in Pro Forma Combined Net Interest Income and Pro
Forma Combined Net Increase in Net Assets resulting from operations of
$70,918,000 and $74,280,000, respectively.
The pro forma adjustments to these pro forma financial statements are
comprised of:
(a) Reflects the conversion of Spartan Short Term Bond Fund shares as
of October 31,1998.
(b) Decrease in management fee to reflect Fidelity Short Term Bond
Fund's management fee applied to the combined fund's average net
assets.
(c) Increase in fees reflects change from Spartan Short Term Bond
Fund's all-inclusive fee structure to Fidelity Short Term Bond Fund's
fee structure.
(d) Increase in fees reflects net increase in costs incurred as a
result of the reorganization.
(e) For the period ended October 31, 1998, FMR voluntarily agreed to
limit the Spartan Short Term Bond Fund's operating expenses to 0.38%
of it's average net assets.
(f) Reflects FMR's agreement to voluntarily limit the combined fund's
operating expenses to 0.63% of average net assets.
The unaudited pro forma combining statements should be read in
conjunction with the separate semiannual unaudited financial
statements as of October 31, 1998, annual audited financial statements
as of April 30, 1998 for Fidelity Short Term Bond Fund, and the annual
audited financial statements as of September 30, 1998 for Spartan
Short Term Bond Fund, which are incorporated by reference in the
Statement of Additional Information to this Proxy Statement and
Prospectus.