FIDELITY INCOME FUND: FIDELITY INTERMEDIATE
GOVERNMENT INCOME FUND MERGER WITH
FIDELITY FIXED INCOME TRUST: SPARTAN
SHORT-INTERMEDIATE GOVERNMENT FUND AND
FIDELITY CHARLES STREET TRUST: FIDELITY
SHORT-INTERMEDIATE GOVERNMENT FUNDS
INVESTMENTS AT JULY 31, 1998 (UNAUDITED)
FIDELITY SPARTAN
INTERMEDIATE SHORT-INTERMED
IATE
GOVERNMENT GOVERNMENT
INCOME FUND FUND
PRINCIPAL VALUE PRINCIPAL VALUE
AMOUNT (NOTE 1) AMOUNT (NOTE 1)
U.S. GOVERNMENT
AND GOVERNMENT
AGENCY
OBLIGATIONS--70.9
%
U.S. TREASURY
OBLIGATIONS--4.7%
6.5% 8/31/01 $ 13,700,000 $ 14,061,817
7.875% 8/15/01 10,000,000 10,640,600 $ 3,900,000 $ 4,149,834
_______________ _______________
TOTAL U.S. 24,702,417 4,149,834
TREASURY
OBLIGATIONS
_______________ _______________
U.S. GOVERNMENT
AGENCY
OBLIGATIONS--66.2
%
Fannie Mae:
12% 11/13/00
8.25% 12/18/00 9,600,000 10,135,488 6,160,000 6,503,605
5.44% 1/24/01 4,700,000 4,669,873
6.29% 2/11/02 25,000,000 25,414,000
5.89% 11/06/02 15,000,000 15,058,650
6.74% 5/13/04 2,150,000 2,244,557 230,000 240,115
7.875% 2/24/05 5,455,000 6,061,869
7.49% 3/02/05 5,980,000 6,522,864
Farm Credit
System Financial
Assistance
Corporation
9.375% 7/21/03 25,570,000 29,481,443 4,000,000 4,611,880
Federal 2,050,000 2,192,209
Agricultural
Mortgage
Corporation 7.04%
8/10/05
Federal Farm
Credit Bank:
5.54% 9/10/03 1,300,000 1,289,847
9.15% 2/14/05 500,000 589,765
Federal Home Loan
Bank:
6.26% 9/24/04 3,500,000 3,585,295
8.09% 12/28/04 3,500,000 3,921,645
7.59% 3/10/05 1,940,000 2,123,699
6.5% 11/29/05 3,000,000 3,127,020
6.75% 4/10/06 1,000,000 1,056,090
Freddie Mac:
6.505% 7/01/04 3,200,000 3,311,488
6.08% 12/17/04 14,275,000 14,493,550
8.115% 1/31/05 7,350,000 8,254,932
6.783% 8/18/05 15,000,000 15,827,400
5.825% 2/09/06 4,250,000 4,251,998
6.99% 7/05/06 1,000,000 1,070,310
6.8% 3/19/07 7,300,000 7,738,000
7.1% 4/10/07 2,700,000 2,925,288
Government Loan
Trusts (assets of
Trust guaranteed
by U.S.
Government
through Agency
for International
Development)
8.5% 4/1/06 11,490,000 12,645,434
Government Trust
Certificates
(assets of Trust
guaranteed
by U.S.
Government
through Defense
Security
Assistance
Agency):
Class T-3, 4,305,884 4,537,670
9.625% 5/15/02
Class 1-C, 9.25% 41,309,435 43,716,949 4,965,422 5,254,807
11/15/01
Class 2-E, 9.40% 9,677,519 10,199,524 707,163 745,307
5/15/02
Guaranteed Export
Trust
Certificates
(assets of Trust
guaranteed by
U.S. Government
through
Export-Import
Bank):
Series 1993-C, 1,364,444 1,341,167
5.20% 10/15/04
Series 1993-D, 1,030,638 1,012,437
5.23% 5/15/05
Series 1994-A, 5,693,335 5,917,253 1,349,586 1,402,665
7.12% 4/15/06
Series 1994-C, 173,359 173,997
6.61% 9/15/99
Series 1994-F, 1,172,885 1,247,386
8.187% 12/15/04
Series 1995-A, 1,249,412 1,264,842
6.28% 6/15/04
Series 1996-A, 8,703,500 8,876,874
6.55% 6/15/04
Guaranteed Trade
Trust
Certificates
(assets of Trust
guaranteed by
U.S. Government
through
Export-Import
Bank):
Series 1992-A, 6,781,125 7,001,308
7.02% 9/1/04
Series 1997-A, 12,860,523 12,926,112 1,208,333 1,214,496
6.104% 7/15/03
Series 1994-B, 811,430 862,485
7.5% 1/26/06
Israel Export
Trust
Certificates
(assets of Trust
guaranteed
by U.S.
Government
through
Export-Import
Bank)
Series 1994-1, 5,452,941 5,584,357
6.88% 1/26/03
Overseas Private
Investment Corp.
U.S. Government
guaranteed
participation
certificate:
Series 1994-195, 6,786,800 6,827,181 789,600 794,298
6.08% 8/15/04
(callable)
Series 1996-A1, 4,000,000 4,178,240
6.726% 9/15/10
(callable)
Private Exporting
Funding Corp.
secured:
8.35% 1/31/01 3,800,000 4,031,572
5.65% 3/15/03 2,065,000 2,057,793
5.82% 6/15/03 36,700,000 36,714,680 3,800,000 3,801,520
(a)
5.48% 9/15/03 2,695,000 2,672,793
5.8% 2/1/04 4,590,000 4,594,544
6.86% 4/30/04 2,499,199 2,564,878
State of Israel
(guaranteed by
U.S. Government
through Agency
for
International
Development:
7.75% 11/15/99 4,200,000 4,305,546 800,000 820,104
6.05% 8/15/00
5.25% 9/15/00 11,550,000 11,458,062 1,500,000 1,488,060
6.625% 8/15/01 1,433,000 1,459,296
8% 11/15/01 2,385,000 2,544,723
6.25% 8/15/02 7,300,000 7,435,050 2,400,000 2,444,400
6.625% 8/15/03 12,860,000 13,306,628 2,500,000 2,586,825
5.625% 9/15/03 11,550,000 11,460,603 1,714,000 1,700,734
6.75% 8/15/04 350,000 367,696
7.625% 8/15/04 8,820,000 9,653,490
6.6% 2/15/08 27,910,000 29,186,045
Tennessee Valley 4,060,000 4,081,559
Authority 6%
11/01/00
U.S. Department
of Housing and
Urban Development
government
guaranteed
participation
certificates:
Series 1996-A, 5,500,000 5,540,095
6.44% 8/1/99
Series 1996-A, 1,340,000 1,361,788 140,000 142,278
6.59% 8/1/00
Series 1995-A, 5,000,000 5,415,450 2,000,000 2,166,180
8.24% 8/1/02
Series 1996-A, 8,000,000 8,535,760
6.98% 8/1/05
U.S. Trade Trust
Certificates
(assets of Trust
guaranteed by
U.S. Government 5,468,333 5,906,839
through
Export-Import
Bank) 8.17%
1/15/07
_______________ _______________
TOTAL U.S. 463,048,467 51,184,193
GOVERNMENT AGENCY
OBLIGATIONS
_______________ _______________
TOTAL U.S. 487,750,884 55,334,027
GOVERNMENT AND
GOVERNMENT AGENCY
OBLIGATIONS
_______________ _______________
U.S. GOVERNMENT
AGENCY -
MORTGAGE-BACKED
SECURITIES--21.8%
Fannie Mae - 6.8%
5.5% 1/1/09 to 9,708,958 9,502,644
2/1/09
6% 10/1/08 to 20,177,765 20,049,209
12/1/08
8% 10/1/00 8,393 8,455
8.25% 12/1/01 5,399,212 5,824,723
8.5% 9/1/07 to 1,402,419 1,464,268
12/1/22
9% 2/1/13 939,451 998,824
9.5% 11/1/09 3,421,808 3,663,473
10% 1/1/20 132,548 145,098
10.25% 10/1/09 320,118 350,753
to 10/1/18
11% 8/1/10 to 5,161,164 5,749,604
1/1/16
11.25% 1/1/10 to 1,018,875 1,146,670
1/1/16
11.5% 9/1/11 to 3,538,418 4,038,488 80,992 91,386
6/1/19
11.75% 7/1/13 to 136,552 156,498
4/1/14
12.25% 10/1/10 1,070,327 1,238,889
to 6/1/15
12.5% 9/1/07 to 2,850,292 3,335,408
5/1/21
12.75% 10/1/11 1,182,438 1,394,870
to 6/1/15
13% 6/1/11 to 1,335,647 1,575,319
7/1/15
13.25% 9/1/11 to 611,096 729,364
9/1/13
13.5% 5/1/11 to 33,895 40,581
12/1/14
14% 6/1/11 to 103,281 123,226
12/1/14
14.5% 7/1/14 19,320 23,522
15% 4/1/12 23,371 28,455
_______________ _______________
61,588,341 91,386
_______________ _______________
Freddie Mac: -
7.5%
5.5% 5/1/03 to 3,268,803 3,209,409
7/1/03
6.5% 5/1/08 2,451,467 2,472,059
7% 6/1/01 to 1,491,215 1,505,124
8/1/01
8.5% 5/1/10 to 4,551,966 4,750,319
1/1/22
9% 11/1/09 to 1,168,351 1,225,586
8/1/16
9.5% 7/1/16 to 6,912,663 7,435,084
8/1/21
10% 12/1/00 to 11,620,060 12,661,901
2/1/23
10.5% 9/1/09 to 7,808,608 8,677,375
1/1/21
10.75% 7/1/13 122,045 136,300
11% 8/1/00 to 875,896 985,306
9/1/20
11.25% 2/1/10 to 1,005,836 1,128,073
10/1/14
11.5% 10/1/15 to 559,102 633,049
8/1/19
11.75% 1/1/10 to 207,579 234,175
10/1/15
12% 1/1/00 to 2,042,809 2,343,090
11/1/19
12.25% 2/1/11 to 827,750 958,011
8/1/15
12.5% 10/1/09 to 10,247,408 11,913,834
6/1/19
12.75% 2/1/10 to 191,606 222,191
1/1/11
13% 9/1/10 to 1,563,053 1,842,267
5/1/17
13.25% 11/1/10 140,838 163,998
to 12/1/14
13.5% 11/1/10 to 311,184 369,478
10/1/14
13.75% 10/1/14 13,490 14,329
14% 11/1/12 to 46,673 55,991
4/1/16
14.5% 12/1/10 to 90,703 109,269
9/1/12
14.75% 3/1/10 29,201 35,178
16.25% 7/1/11 7,132 8,634
_______________ _______________
59,880,621 3,209,409
_______________ _______________
Government
National Mortgage
Association -
7.5%
8% 9/15/06 to 937,735 975,136
11/15/07
8.5% 4/15/16 to 94,191 100,063
7/15/17
9% 1/15/04 to 1,407,924 1,499,467
5/15/17
9.5% 1/15/09 to 11,922,066 12,860,767 454,249 490,602
11/15/20
10% 11/15/09 to 1,680,164 1,836,705 1,738,862 1,900,274
11/15/20
10.5% 2/15/14 to 2,573,399 2,826,597 1,772,723 1,966,440
2/15/25
10.75% 12/15/09 63,113 69,377
to 3/15/10
11% 4/15/00 to 3,583,951 4,012,275 1,297,653 1,449,279
1/15/21
11.5% 3/15/10 to 12,973,020 14,630,566 2,304,242 2,597,646
1/15/21
12% 11/15/12 to 790,830 902,223 184,455 211,334
6/15/16
12.25% 1/15/14 50,643 57,349
12.5% 12/15/10 65,301 75,626
to 6/15/14
13% 1/15/11 to 1,017,285 1,190,298 34,426 40,180
12/15/14
13.25% 9/15/13 194,947 224,856
to 10/15/14
13.5% 5/15/10 to 528,207 617,185
12/15/14
14% 6/15/11 to 87,123 103,016
12/15/14
16% 4/15/13 163,590 197,841
17% 12/15/11 3,351 4,010
_______________ _______________
42,113,980 8,725,132
_______________ _______________
TOTAL U.S. 163,582,942 12,025,927
GOVERNMENT AGENCY
- - MORTGAGE-BACKED
SECURITIES
_______________ _______________
COLLATERALIZED
MORTGAGE
OBLIGATIONS--0.2%
U.S. GOVERNMENT
AGENCY--0.2%
Fannie Mae 1,661,689 1,775,931
planned
amortization
class Series
1988-21, Class G,
9.5% 8/25/18
Freddie Mac 100,581 100,266
sequential pay
Series 1353 Class
A, 5.5% 11/15/04
_______________ _______________
TOTAL U.S. 1,876,197 -
GOVERNMENT AGENCY
_______________ _______________
TOTAL 1,876,197 -
COLLATERALIZED
MORTGAGE
OBLIGATIONS
_______________ _______________
CASH EQUIVALENTS
- -- 7.1%
Investments in MATURITY MATURITY
repurchase
agreements
(U.S. Treasury AMOUNT AMOUNT
obligations),
In a joint
account at:
5.62%, dated $ 39,746,606 39,728,000 $ 7,535,527 7,532,000
7/31/98 due
8/03/98
5.63%, dated 6,447,023 6,444,000 2,253,057 2,252,000
7/31/98 due
8/03/98
_______________ _______________
TOTAL CASH 46,172,000 9,784,000
EQUIVALENTS
_______________ _______________
TOTAL INVESTMENTS $ 699,382,023 $ 77,143,954
IN SECURITIES -
100%
TOTAL COST OF $ 692,109,010 $ 77,021,214
INVESTMENTS
LEGEND
FIDELITY
SHORT-INTERMED
IATE
GOVERNMENT COMBINED
FUND
PRINCIPAL VALUE PRINCIPAL VALUE
AMOUNT (NOTE 1) AMOUNT (NOTE 1)
U.S. GOVERNMENT
AND GOVERNMENT
AGENCY
OBLIGATIONS--70.9
%
U.S. TREASURY
OBLIGATIONS--4.7%
6.5% 8/31/01 $ 13,700,000 $ 14,061,817
7.875% 8/15/01 $ 12,800,000 $ 13,619,968 26,700,000 28,410,402
_______________
_______________
TOTAL U.S. 13,619,968 42,472,219
TREASURY
OBLIGATIONS
_______________
_______________
U.S. GOVERNMENT
AGENCY
OBLIGATIONS--66.2
%
Fannie Mae:
12% 11/13/00 10,000,000 11,342,200 10,000,000 11,342,200
8.25% 12/18/00 10,000,000 10,557,800 25,760,000 27,196,893
5.44% 1/24/01 3,300,000 3,278,847 8,000,000 7,948,720
6.29% 2/11/02 25,000,000 25,414,000
5.89% 11/06/02 15,000,000 15,058,650
6.74% 5/13/04 380,000 396,714 2,760,000 2,881,386
7.875% 2/24/05 5,455,000 6,061,869
7.49% 3/02/05 5,980,000 6,522,864
Farm Credit
System Financial
Assistance
Corporation
9.375% 7/21/03 4,000,000 4,611,880 33,570,000 38,705,203
Federal 2,050,000 2,192,209
Agricultural
Mortgage
Corporation 7.04%
8/10/05
Federal Farm
Credit Bank:
5.54% 9/10/03 1,300,000 1,289,847
9.15% 2/14/05 500,000 589,765
Federal Home Loan
Bank:
6.26% 9/24/04 3,500,000 3,585,295
8.09% 12/28/04 3,500,000 3,921,645
7.59% 3/10/05 1,940,000 2,123,699
6.5% 11/29/05 3,000,000 3,127,020
6.75% 4/10/06 1,000,000 1,056,090
Freddie Mac:
6.505% 7/01/04 3,200,000 3,311,488
6.08% 12/17/04 14,275,000 14,493,550
8.115% 1/31/05 7,350,000 8,254,932
6.783% 8/18/05 15,000,000 15,827,400
5.825% 2/09/06 4,250,000 4,251,998
6.99% 7/05/06 1,000,000 1,070,310
6.8% 3/19/07 7,300,000 7,738,000
7.1% 4/10/07 2,700,000 2,925,288
Government Loan
Trusts (assets of
Trust guaranteed
by U.S.
Government
through Agency
for International
Development)
8.5% 4/1/06 11,490,000 12,645,434
Government Trust
Certificates
(assets of Trust
guaranteed
by U.S.
Government
through Defense
Security
Assistance
Agency):
Class T-3, 3,955,274 4,168,186 8,261,158 8,705,856
9.625% 5/15/02
Class 1-C, 9.25% 8,825,964 9,340,341 55,100,821 58,312,097
11/15/01
Class 2-E, 9.40% 3,585,314 3,778,706 13,969,996 14,723,537
5/15/02
Guaranteed Export
Trust
Certificates
(assets of Trust
guaranteed by
U.S. Government
through
Export-Import
Bank):
Series 1993-C, 1,364,444 1,341,167
5.20% 10/15/04
Series 1993-D, 1,030,638 1,012,437
5.23% 5/15/05
Series 1994-A, 1,615,078 1,678,599 8,657,999 8,998,517
7.12% 4/15/06
Series 1994-C, 173,359 173,997
6.61% 9/15/99
Series 1994-F, 4,940,777 5,254,615 6,113,662 6,502,001
8.187% 12/15/04
Series 1995-A, 1,588,235 1,607,850 2,837,647 2,872,692
6.28% 6/15/04
Series 1996-A, 8,703,500 8,876,874
6.55% 6/15/04
Guaranteed Trade
Trust
Certificates
(assets of Trust
guaranteed by
U.S. Government
through
Export-Import
Bank):
Series 1992-A, 6,781,125 7,001,308
7.02% 9/1/04
Series 1997-A, 2,083,333 2,093,958 16,152,189 16,234,566
6.104% 7/15/03
Series 1994-B, 811,430 862,485
7.5% 1/26/06
Israel Export
Trust
Certificates
(assets of Trust
guaranteed
by U.S.
Government
through
Export-Import
Bank)
Series 1994-1, 1,800,000 1,843,380 7,252,941 7,427,737
6.88% 1/26/03
Overseas Private
Investment Corp.
U.S. Government
guaranteed
participation
certificate:
Series 1994-195, 1,146,800 1,153,623 8,723,200 8,775,102
6.08% 8/15/04
(callable)
Series 1996-A1, 4,000,000 4,178,240
6.726% 9/15/10
(callable)
Private Exporting
Funding Corp.
secured:
8.35% 1/31/01 3,800,000 4,031,572
5.65% 3/15/03 1,350,000 1,345,289 3,415,000 3,403,082
5.82% 6/15/03 6,400,000 6,402,560 46,900,000 46,918,760
(a)
5.48% 9/15/03 2,695,000 2,672,793
5.8% 2/1/04 4,590,000 4,594,544
6.86% 4/30/04 2,499,199 2,564,878
State of Israel
(guaranteed by
U.S. Government
through Agency
for
International
Development:
7.75% 11/15/99 5,000,000 5,125,650
6.05% 8/15/00 5,780,000 5,822,191 5,780,000 5,822,191
5.25% 9/15/00 1,000,000 992,040 14,050,000 13,938,162
6.625% 8/15/01 1,433,000 1,459,296
8% 11/15/01 2,385,000 2,544,723
6.25% 8/15/02 9,700,000 9,879,450
6.625% 8/15/03 7,000,000 7,243,110 22,360,000 23,136,563
5.625% 9/15/03 13,264,000 13,161,337
6.75% 8/15/04 350,000 367,696
7.625% 8/15/04 8,820,000 9,653,490
6.6% 2/15/08 27,910,000 29,186,045
Tennessee Valley 4,060,000 4,081,559
Authority 6%
11/01/00
U.S. Department
of Housing and
Urban Development
government
guaranteed
participation
certificates:
Series 1996-A, 5,500,000 5,540,095
6.44% 8/1/99
Series 1996-A, 230,000 233,740 1,710,000 1,737,806
6.59% 8/1/00
Series 1995-A, 7,000,000 7,581,630
8.24% 8/1/02
Series 1996-A, 8,000,000 8,535,760
6.98% 8/1/05
U.S. Trade Trust
Certificates
(assets of Trust
guaranteed by
U.S. Government 5,468,333 5,906,839
through
Export-Import
Bank) 8.17%
1/15/07
_______________
_______________
TOTAL U.S. 83,145,629 597,378,289
GOVERNMENT AGENCY
OBLIGATIONS
_______________
_______________
TOTAL U.S. 96,765,597 639,850,508
GOVERNMENT AND
GOVERNMENT AGENCY
OBLIGATIONS
_______________
_______________
U.S. GOVERNMENT
AGENCY -
MORTGAGE-BACKED
SECURITIES--21.8%
Fannie Mae - 6.8%
5.5% 1/1/09 to 9,708,958 9,502,644
2/1/09
6% 10/1/08 to 20,177,765 20,049,209
12/1/08
8% 10/1/00 8,393 8,455
8.25% 12/1/01 5,399,212 5,824,723
8.5% 9/1/07 to 1,402,419 1,464,268
12/1/22
9% 2/1/13 939,451 998,824
9.5% 11/1/09 3,421,808 3,663,473
10% 1/1/20 132,548 145,098
10.25% 10/1/09 320,118 350,753
to 10/1/18
11% 8/1/10 to 5,161,164 5,749,604
1/1/16
11.25% 1/1/10 to 1,018,875 1,146,670
1/1/16
11.5% 9/1/11 to 3,619,410 4,129,874
6/1/19
11.75% 7/1/13 to 136,552 156,498
4/1/14
12.25% 10/1/10 1,070,327 1,238,889
to 6/1/15
12.5% 9/1/07 to 2,850,292 3,335,408
5/1/21
12.75% 10/1/11 1,182,438 1,394,870
to 6/1/15
13% 6/1/11 to 1,335,647 1,575,319
7/1/15
13.25% 9/1/11 to 611,096 729,364
9/1/13
13.5% 5/1/11 to 33,895 40,581
12/1/14
14% 6/1/11 to 103,281 123,226
12/1/14
14.5% 7/1/14 19,320 23,522
15% 4/1/12 23,371 28,455
_______________
_______________
- 61,679,727
_______________
_______________
Freddie Mac: -
7.5%
5.5% 5/1/03 to 4,514,879 4,432,844 7,783,682 7,642,253
7/1/03
6.5% 5/1/08 2,451,467 2,472,059
7% 6/1/01 to 1,491,215 1,505,124
8/1/01
8.5% 5/1/10 to 4,551,966 4,750,319
1/1/22
9% 11/1/09 to 1,168,351 1,225,586
8/1/16
9.5% 7/1/16 to 6,912,663 7,435,084
8/1/21
10% 12/1/00 to 11,620,060 12,661,901
2/1/23
10.5% 9/1/09 to 7,808,608 8,677,375
1/1/21
10.75% 7/1/13 122,045 136,300
11% 8/1/00 to 875,896 985,306
9/1/20
11.25% 2/1/10 to 1,005,836 1,128,073
10/1/14
11.5% 10/1/15 to 559,102 633,049
8/1/19
11.75% 1/1/10 to 207,579 234,175
10/1/15
12% 1/1/00 to 2,042,809 2,343,090
11/1/19
12.25% 2/1/11 to 827,750 958,011
8/1/15
12.5% 10/1/09 to 10,247,408 11,913,834
6/1/19
12.75% 2/1/10 to 191,606 222,191
1/1/11
13% 9/1/10 to 1,563,053 1,842,267
5/1/17
13.25% 11/1/10 140,838 163,998
to 12/1/14
13.5% 11/1/10 to 311,184 369,478
10/1/14
13.75% 10/1/14 13,490 14,329
14% 11/1/12 to 46,673 55,991
4/1/16
14.5% 12/1/10 to 90,703 109,269
9/1/12
14.75% 3/1/10 29,201 35,178
16.25% 7/1/11 7,132 8,634
_______________
_______________
4,432,844 67,522,874
_______________
_______________
Government
National Mortgage
Association -
7.5%
8% 9/15/06 to 937,735 975,136
11/15/07
8.5% 4/15/16 to 58,656 62,300 152,847 162,363
7/15/17
9% 1/15/04 to 1,407,924 1,499,467
5/15/17
9.5% 1/15/09 to 697,962 753,834 13,074,277 14,105,203
11/15/20
10% 11/15/09 to 2,984,189 3,254,204 6,403,215 6,991,183
11/15/20
10.5% 2/15/14 to 6,290,281 6,974,970 10,636,403 11,768,007
2/15/25
10.75% 12/15/09 180,757 198,699 243,870 268,076
to 3/15/10
11% 4/15/00 to 2,121,305 2,367,444 7,002,909 7,828,998
1/15/21
11.5% 3/15/10 to 2,411,351 2,724,849 17,688,613 19,953,061
1/15/21
12% 11/15/12 to 290,588 333,360 1,265,873 1,446,917
6/15/16
12.25% 1/15/14 50,643 57,349
12.5% 12/15/10 39,350 45,269 104,651 120,895
to 6/15/14
13% 1/15/11 to 34,739 40,546 1,086,450 1,271,024
12/15/14
13.25% 9/15/13 194,947 224,856
to 10/15/14
13.5% 5/15/10 to 528,207 617,185
12/15/14
14% 6/15/11 to 87,123 103,016
12/15/14
16% 4/15/13 163,590 197,841
17% 12/15/11 3,351 4,010
_______________
_______________
16,755,475 67,594,587
_______________
_______________
TOTAL U.S. 21,188,319 196,797,188
GOVERNMENT AGENCY
- - MORTGAGE-BACKED
SECURITIES
_______________
_______________
COLLATERALIZED
MORTGAGE
OBLIGATIONS--0.2%
U.S. GOVERNMENT
AGENCY--0.2%
Fannie Mae 1,661,689 1,775,931
planned
amortization
class Series
1988-21, Class G,
9.5% 8/25/18
Freddie Mac 100,581 100,266
sequential pay
Series 1353 Class
A, 5.5% 11/15/04
_______________
_______________
TOTAL U.S. - 1,876,197
GOVERNMENT AGENCY
_______________
_______________
TOTAL - 1,876,197
COLLATERALIZED
MORTGAGE
OBLIGATIONS
_______________
_______________
CASH EQUIVALENTS
- -- 7.1%
Investments in MATURITY MATURITY
repurchase
agreements
(U.S. Treasury AMOUNT AMOUNT
obligations),
In a joint
account at:
5.62%, dated $ 8,064,775 8,061,000 $ 55,346,908 55,321,000
7/31/98 due
8/03/98
5.63%, dated 8,700,080 8,696,000
7/31/98 due
8/03/98
_______________
_______________
TOTAL CASH 8,061,000 64,017,000
EQUIVALENTS
_______________
_______________
TOTAL INVESTMENTS $ 126,014,916 $ 902,540,893
IN SECURITIES -
100%
TOTAL COST OF $ 126,111,119 $ 895,241,343
INVESTMENTS
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 $36,714,680 or 5.2% of net assets of Fidelity
Intermediate
Government Income Fund, $3,801,520 or 5.0% of net assets for Spartan
Short-
Intermediate Government Fund, and $6,402,560 or 5.0% of net assets
for Fidelity
Short-Intermediate Government Fund.
value of 144A's
Total Net Assets per fund
FIDELITY INCOME FUND: FIDELITY INTERMEDIATE GOVERNMENT INCOME FUND
FIDELITY FIXED INCOME TRUST: SPARTAN SHORT-INTERMEDIATE GOVERNMENT FUND
FIDELITY CHARLES STREET TRUST: FIDELITY SHORT-INTERMEDIATE GOVERNMENT FUND
PRO FORMA COMBINING STATEMENT OF OPERATIONS
12 MONTHS ENDED JULY 31, 1998
(UNAUDITED)
FID. INTER. GOV'T. SP. SHORT-INTER. FID. SHORT-INTER.
INCOME FUND GOV'T. FUND GOV'T. FUND
INTEREST
INCOME
Interest $ 51,759,065 $ 5,098,143 $ 8,756,745
Income
EXPENSES
Management 4,788,011 485,324 542,776
fee
Transfer agent - - 280,075
fees
Accounting - - 62,082
fees and
expenses
Trustees' fees 3,115 1,228 445
Custodian - - 26,992
fees and
expenses
Registration - - 29,189
fees
Audit - - 38,642
Legal - - 5,383
Miscellaneous - - 655
Total 4,791,126 486,552 986,239
expenses
before
reductions
Expense (1,994,126) (470) -
reductions
Total 2,797,000 486,082 986,239
expenses
NET INTEREST 48,962,065 4,612,061 7,770,506
INCOME
REALIZED AND
UNREALIZED
GAIN (LOSS)
Net realized 5,967,502 132,891 1,201,535
gain (loss) on
investment
securities
Change in
net unrealized
appreciation
(depreciation) (6,213,677) (493,507) (1,912,546)
on investment
securities
NET GAIN (246,175) (360,616) (711,011)
(LOSS)
NET INCREASE
(DECREASE) IN
NET
ASSETS $48,715,890 $ 4,251,445 $7,059,495
RESULTING
FROM
OPERATIONS
PRO FORMA PRO FORMA
COMBINED ADJUSTMENTS COMBINED
INTEREST
INCOME
Interest $65,613,953 $ - $65,613,953
Income
EXPENSES
Management 5,816,111 262,297 (b) 6,078,408
fee
Transfer agent 280,075 (280,075) (c) -
fees
Accounting 62,082 (62,082) (c) -
fees and
expenses
Trustees' fees 4,788 (829) (d) 3,959
Custodian 26,992 (26,992) (c) -
fees and
expenses
Registration 29,189 (29,189) (c) -
fees
Audit 38,642 (38,642) (c) -
Legal 5,383 (5,383) (c) -
Miscellaneous 655 (655) (c) -
Total 6,263,917 (181,550) 6,082,367
expenses
before
reductions
Expense (1,994,596) 1,795,593 (e) (199,003)
reductions
Total 4,269,321 1,614,043 5,883,364
expenses
NET INTEREST 61,344,632 (1,614,043) 59,730,589
INCOME
REALIZED AND
UNREALIZED
GAIN (LOSS)
Net realized 7,301,928 - 7,301,928
gain (loss) on
investment
securities
Change in
net unrealized
appreciation
(depreciation) (8,619,730) - (8,619,730)
on investment
securities
NET GAIN (1,317,802) - (1,317,802)
(LOSS)
NET INCREASE
(DECREASE) IN
NET
ASSETS $ 60,026,830 $ (1,614,043) $ 58,412,787
RESULTING
FROM
OPERATIONS
CAPITALIZATI
ON
The following
table shows
the
capitalization
of the funds
as of July 31,
1998 and on a
pro forma
combined
basis
(unaudited) as
of that date
giving effect to
the
Reorganizatio
n.
Reinvest price: $
9.78
TOTALS
NET ASSET Fid. Inter. Gov't. $ 703,830,764
VALUE
Sp. Short-Inter. $ 75,535,644
Fid. Short-Inter. $ 127,761,710 $ 907,128,118
SHARES Fid. Inter. Gov't. 71,942,356
71,9
42,3
56
OUTSTANDING Sp. Short-Inter. 8,053,544
7,72
3,48
1
Fid. Short-Inter. 13,639,898 92,729,407
13,0
63,5
70
NET ASSET Fid. Inter. Gov't. $ 703,830,764
VALUE
Sp. Short-Inter. $ 75,535,644 $ 779,366,408
SHARES Fid. Inter. Gov't. 71,942,356
71,9
42,3
56
OUTSTANDING Sp. Short-Inter. 8,053,544 79,665,837
7,72
3,48
1
NET ASSET Fid. Inter. Gov't. $ 703,830,764
VALUE
Fid. Short-Inter. $ 127,761,710 $ 831,592,474
SHARES Fid. Inter. Gov't. 71,942,356
71,9
42,3
56
OUTSTANDING Fid. Short-Inter. 13,639,898 85,005,926
13,0
63,5
70
FIDELITY INCOME FUND: FIDELITY INTERMEDIATE GOVERNMENT INCOME FUND
FIDELITY FIXED INCOME TRUST: SPARTAN SHORT-INTERMEDIATE GOVERNMENT FUND
FIDELITY CHARLES STREET TRUST: FIDELITY SHORT-INTERMEDIATE GOVERNMENT FUND
PRO FORMA COMBINING STATEMENT OF ASSETS & LIABILITIES AS OF JULY 31, 1998
(UNAUDITED)
FID. INTER. GOV'T. SP. SHORT-INTER. FID. SHORT-INTER.
INCOME FUND GOV'T. FUND GOV'T FUND
ASSETS
Investment in $ 699,382,023 $ 77,143,954 $126,014,916
securities, at value -
See accompanying
schedule
Cash 1,099 937 269,533
Receivable for 863,784 - -
investments sold
Receivable for fund 368,334 33,244 158,714
shares sold
Interest receivable 10,263,836 992,951 1,848,746
Other receivable 62,389 - -
TOTAL ASSETS 710,941,465 78,171,086 128,291,909
LIABILITIES
Payable for 5,630,455 2,252,182 -
investments
purchased
Payable for fund 602,075 304,322 320,925
shares redeemed
Distributions payable 632,633 37,060 103,441
Accrued 225,844 41,480 46,420
management fee
Other payables and 19,694 398 59,413
accrued expenses
TOTAL LIABILITIES 7,110,701 2,635,442 530,199
NET ASSETS $703,830,764 $75,535,644 $127,761,710
Net Assets consist of:
Paid in capital $750,604,476 $79,437,548 $138,028,727
Undistributed net 1,866,734 233,514 208,732
investment income
Accumulated (55,913,472) (4,258,158) (10,379,546)
undistributed net
realized gain (loss)
on investments
Net unrealized 7,273,026 122,740 (96,203)
appreciation
(depreciation) on
investments
NET ASSETS $703,830,764 $75,535,644 $127,761,710
NET ASSETS $703,830,764 $75,535,644 $127,761,710
Net Asset Value, $9.78 $9.38 $9.37
offering price and
redemption price per
share
Shares outstanding 71,942,356 8,053,544 13,639,898
COMBINED PRO FORMA PRO FORMA
ADJUSTMENTS COMBINED
ASSETS
Investment in $ 902,540,893 $- $902,540,893
securities, at value -
See accompanying
schedule
Cash 271,569 - 271,569
Receivable for 863,784 - 863,784
investments sold
Receivable for fund 560,292 - 560,292
shares sold
Interest receivable 13,105,533 - 13,105,533
Other receivable 62,389 - 62,389
TOTAL ASSETS 917,404,460 - 917,404,460
LIABILITIES
Payable for 7,882,637 - 7,882,637
investments
purchased
Payable for fund 1,227,322 - 1,227,322
shares redeemed
Distributions payable 773,134 - 773,134
Accrued 313,744 - 313,744
management fee
Other payables and 79,505 - 79,505
accrued expenses
TOTAL LIABILITIES 10,276,342 - 10,276,342
NET ASSETS $907,128,118 $- $907,128,118
Net Assets consist of:
Paid in capital $ 968,070,751 - $968,070,751
Undistributed net 2,308,980 - 2,308,980
investment income
Accumulated (70,551,176) - (70,551,176)
undistributed net
realized gain (loss)
on investments
Net unrealized 7,299,563 - 7,299,563
appreciation
(depreciation) on
investments
NET ASSETS $907,128,118 $- $907,128,118
NET ASSETS $907,128,118 $907,128,118
Net Asset Value, $9.78
offering price and
redemption price per
share
Shares outstanding 93,635,798 (906,391)(a) 92,729,407
Fidelity Intermediate Gov't. Income
Fidelity Short Intermediate Gov't.
Spartan Short Intermediate Gov't.
Pro Forma Combining Schedule of Total Returns and Expense Ratios
(Unaudited)
FISCAL YEAR ENDED JULY
31,
If Fidelity Intermediate Gov't. Income acquires:
1998 1997 1996
Fidelity Short Intermediate Gov't. & Spartan Short Intermediate Gov't.
One year total return 6.39% 8.25% 5.35%
Ratio of expenses to average net assets 0.63% 0.63% 0.62%
One year total return before expense reductions 6.37% 8.23% 5.32%
Ratio of expenses to average net assets before expense reductions 0.65% 0.65% 0.65%
Fidelity Short Intermediate Gov't.
One year total return 6.45% 8.32% 5.39%
Ratio of expenses to average net assets 0.63% 0.63% 0.62%
One year total return before expense reductions 6.43% 8.30% 5.36%
Ratio of expenses to average net assets before expense reductions 0.65% 0.65% 0.65%
Spartan Short Intermediate Gov't.
One year total return 6.45% 8.37% 5.44%
Ratio of expenses to average net assets 0.63% 0.63% 0.62%
One year total return before expense reductions 6.43% 8.35% 5.41%
Ratio of expenses to average net assets before expense reductions 0.65% 0.65% 0.65%
Fidelity Income Fund: Fidelity Intermediate Government Income Fund
Fidelity Fixed Income Trust: Spartan Short-Intermediate Government
Fund and
Fidelity Charles Street Trust: Fidelity Short-Intermediate Government
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 July 31,
1998 and the unaudited Pro Forma Combining Statement of Operations for
the year ended July 31, 1998 are intended to present the financial
condition and related results of operations of Fidelity Intermediate
Government Income Fund as if the reorganization with Spartan
Short-Intermediate Government Fund & Fidelity Short-Intermediate
Government Fund, had been consummated at August 31, 1997. Had the pro
forma adjustments not included the effect of the expense limitations,
Pro Forma Combined Expense reductions would have been $8,016,
resulting in Pro Forma Combined Net Interest Income and Pro Forma
Combined Net Increase in Net Assets resulting from operations of
$59,539,602 and $58,221,800, respectively.
The pro forma adjustments to these pro forma financial statements are
comprised of:
(a) Reflects the conversion of Spartan Short-Intermediate Government
Fund and
Fidelity Short-Intermediate Government Fund shares as of July
31,1998.
(b) Increase in fees reflects Fidelity Intermediate Government Funds'
all-inclusive management fee rate of 0.65% charged against combined
average net assets.
(c) Decrease in fees reflects change to Fidelity Intermediate
Government Fund's all-inclusive
fee structure.
(d) Decrease in fees reflects net decrease in costs incurred as a
result of the reorganization.
(e) Reflects reduction in expenses due to FMR's agreement to
voluntarily limit the combined fund's expenses to 0.63% of average net
assets.
The unaudited pro forma combining statements should be read in
conjunction with the separate annual audited financial statements as
of April 30, 1998 for Spartan Short-Intermediate Government Fund,
September 30, 1998 for Fidelity Short-Intermediate Government Fund,
and July 31, 1998 for Fidelity Intermediate Government Income Fund,
which are incorporated by reference in the Statement of Additional
Information to this Proxy Statement and Prospectus.