0001364924-13-000002.txt : 20130118 0001364924-13-000002.hdr.sgml : 20130118 20130118120158 ACCESSION NUMBER: 0001364924-13-000002 CONFORMED SUBMISSION TYPE: 485BPOS PUBLIC DOCUMENT COUNT: 7 FILED AS OF DATE: 20130118 DATE AS OF CHANGE: 20130118 EFFECTIVENESS DATE: 20130118 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FIDELITY ADVISOR SERIES II CENTRAL INDEX KEY: 0000795422 IRS NUMBER: 000000000 FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1933 Act SEC FILE NUMBER: 033-06516 FILM NUMBER: 13536630 BUSINESS ADDRESS: STREET 1: 82 DEVONSHIRE STREET CITY: BOSTON STATE: MA ZIP: 02109 BUSINESS PHONE: 617-563-7000 MAIL ADDRESS: STREET 1: 82 DEVONSHIRE STREET CITY: BOSTON STATE: MA ZIP: 02109 FORMER COMPANY: FORMER CONFORMED NAME: FIDELITY DIVERSIFIED TRUST DATE OF NAME CHANGE: 19930706 FORMER COMPANY: FORMER CONFORMED NAME: PLYMOUTH FUND DATE OF NAME CHANGE: 19920130 FORMER COMPANY: FORMER CONFORMED NAME: PLYMOUTH INVESTMENT SERIES DATE OF NAME CHANGE: 19911204 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FIDELITY ADVISOR SERIES II CENTRAL INDEX KEY: 0000795422 IRS NUMBER: 000000000 FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1940 Act SEC FILE NUMBER: 811-04707 FILM NUMBER: 13536631 BUSINESS ADDRESS: STREET 1: 82 DEVONSHIRE STREET CITY: BOSTON STATE: MA ZIP: 02109 BUSINESS PHONE: 617-563-7000 MAIL ADDRESS: STREET 1: 82 DEVONSHIRE STREET CITY: BOSTON STATE: MA ZIP: 02109 FORMER COMPANY: FORMER CONFORMED NAME: FIDELITY DIVERSIFIED TRUST DATE OF NAME CHANGE: 19930706 FORMER COMPANY: FORMER CONFORMED NAME: PLYMOUTH FUND DATE OF NAME CHANGE: 19920130 FORMER COMPANY: FORMER CONFORMED NAME: PLYMOUTH INVESTMENT SERIES DATE OF NAME CHANGE: 19911204 0000795422 S000005134 Fidelity Advisor Municipal Income Fund C000014047 Class A FAMUX C000014048 Class B FAIBX C000014049 Class C FAMCX C000014050 Class T FAHIX C000014051 Institutional Class FMPIX 485BPOS 1 main.htm

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-1A

 

REGISTRATION STATEMENT (No. 033-06516)

 

UNDER THE SECURITIES ACT OF 1933

[X]

 

Pre-Effective Amendment No. ____

[ ]

 

Post-Effective Amendment No. 106

[X]

and

REGISTRATION STATEMENT (No. 811-04707)

 

UNDER THE INVESTMENT COMPANY ACT OF 1940

[X]

 

Amendment No. 108

[X]

 

Fidelity Advisor Series II

(Exact Name of Registrant as Specified in Charter)

 

82 Devonshire St., Boston, Massachusetts 02109

(Address Of Principal Executive Offices) (Zip Code)

 

Registrant's Telephone Number: 617-563-7000

 

Scott C. Goebel, Secretary

82 Devonshire Street

Boston, Massachusetts 02109

(Name and Address of Agent for Service)

 

It is proposed that this filing will become effective

 

(X)

immediately upon filing pursuant to paragraph (b).

 

( )

on ( ) pursuant to paragraph (b) at 5:30 p.m. Eastern Time.

 

( )

60 days after filing pursuant to paragraph (a)(1) at 5:30 p.m. Eastern Time.

 

( )

on ( ) pursuant to paragraph (a)(1) of Rule 485 at 5:30 p.m. Eastern Time.

 

( )

75 days after filing pursuant to paragraph (a)(2) at 5:30 p.m. Eastern Time.

 

( )

on ( ) pursuant to paragraph (a)(2) of Rule 485 at 5:30 p.m. Eastern Time.

 

If appropriate, check the following box:

 

( )

this post-effective amendment designates a new effective date for a previously filed post-effective amendment.

EXHIBIT INDEX

Exhibit
Exhibit No.

XBRL Instance Document

EX-101.INS

XBRL Taxonomy Extension Schema Document

EX-101.SCH

XBRL Taxonomy Extension Calculation Linkbase Document

EX-101.CAL

XBRL Taxonomy Extension Definition Linkbase Document

EX-101.DEF

XBRL Taxonomy Extension Labels Linkbase Document

EX-101.LAB

XBRL Taxonomy Extension Presentation Linkbase Document

EX-101.PRE

SIGNATURES

Pursuant to the requirements of the Securities Act of 1933 and the Investment Company Act of 1940, the Registrant certifies that it meets all of the requirements for the effectiveness of this Registration Statement pursuant to Rule 485(b) under the Securities Act of 1933 and has duly caused this Post-Effective Amendment Nos. 106 & 108 to the Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Boston, and Commonwealth of Massachusetts, on the 18th day of January, 2013.

 

Fidelity Advisor Series II

 

By

/s/John R. Hebble

 

||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||

 

John R. Hebble, President

 

Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has been signed below by the following persons in the capacities and on the dates indicated.

(Signature)

 

(Title)

(Date)

 

 

 

 

/s/John R. Hebble

 

President and Treasurer

January 18, 2013

John R. Hebble

 

(Principal Executive Officer)

 

 

 

 

 

/s/Christine Reynolds

 

Chief Financial Officer

January 18, 2013

Christine Reynolds

 

(Principal Financial Officer)

 

 

 

 

 

/s/Abigail P. Johnson

 

Trustee

January 18, 2013

Abigail P. Johnson

 

 

 

 

 

 

 

/s/James C. Curvey

*

Trustee

January 18, 2013

James C. Curvey

 

 

 

 

 

 

 

/s/Albert R. Gamper

*

Trustee

January 18, 2013

Albert R. Gamper

 

 

 

 

 

 

 

/s/Robert F. Gartland

*

Trustee

January 18, 2013

Robert F. Gartland

 

 

 

 

 

 

 

/s/Arthur E. Johnson

*

Trustee

January 18, 2013

Arthur E. Johnson

 

 

 

 

 

 

 

/s/Michael E. Kenneally

*

Trustee

January 18, 2013

Michael E. Kenneally

 

 

 

 

 

 

 

/s/James H. Keyes

*

Trustee

January 18, 2013

James H. Keyes

 

 

 

 

 

 

 

/s/Marie L. Knowles

*

Trustee

January 18, 2013

Marie L. Knowles

 

 

 

 

 

 

 

/s/Kenneth L. Wolfe

*

Trustee

January 18, 2013

Kenneth L. Wolfe

 

 

 

 

 

 

 

*

By:

/s/Joseph R. Fleming

 

 

Joseph R. Fleming, pursuant to a power of attorney dated February 1, 2011 and filed herewith.

POWER OF ATTORNEY


We, the undersigned Directors or Trustees, as the case may be, of the following investment companies:

 

Fidelity Aberdeen Street Trust

Fidelity Advisor Series II

Fidelity Advisor Series IV

Fidelity Boylston Street Trust

Fidelity California Municipal Trust

Fidelity California Municipal Trust II

Fidelity Central Investment Portfolios II LLC

Fidelity Charles Street Trust

Fidelity Colchester Street Trust

Fidelity Court Street Trust

Fidelity Court Street Trust II

Fidelity Fixed-Income Trust

Fidelity Garrison Street Trust

Fidelity Hereford Street Trust

Fidelity Income Fund

 

Fidelity Massachusetts Municipal Trust

Fidelity Money Market Trust

Fidelity Municipal Trust

Fidelity Municipal Trust II

Fidelity Newbury Street Trust

Fidelity New York Municipal Trust

Fidelity New York Municipal Trust II

Fidelity Oxford Street Trust

Fidelity Phillips Street Trust

Fidelity Revere Street Trust

Fidelity School Street Trust

Fidelity Union Street Trust

Fidelity Union Street Trust II

Variable Insurance Products Fund V

in addition to any other investment company for which Fidelity Management & Research Company ("FMR") or an affiliate acts as investment adviser and for which the undersigned individuals serve as Directors or Trustees (collectively, the "Funds"), hereby revoke all previous powers of attorney we have given to sign and otherwise act in our names and behalf in matters involving any investment company for which FMR or an affiliate acts as investment adviser and hereby constitute and appoint Thomas C. Bogle, Joseph R. Fleming, John V. O'Hanlon, Robert W. Helm and Anthony H. Zacharski, each of them singly, our true and lawful attorneys-in-fact, with full power of substitution, and with full power to each of them, to sign for us and in our names in the appropriate capacities, all Registration Statements of the Funds on Form N-1A, or any successors thereto, any and all subsequent Amendments, Pre-Effective Amendments, or Post-Effective Amendments to said Registration Statements or any successors thereto, and any supplements or other instruments in connection therewith, and generally to do all such things in our names and behalf in connection therewith as said attorneys-in-fact deem necessary or appropriate, to comply with the provisions of the Securities Act of 1933 and the Investment Company Act of 1940, and all related requirements of the Securities and Exchange Commission. We hereby ratify and confirm all that said attorneys-in-fact or their substitutes may do or cause to be done by virtue hereof. This power of attorney is effective for all documents filed on or after February 1, 2011.

WITNESS our hands on this first day of February 1, 2011.

/s/James C. Curvey

/s/Michael E. Kenneally

James C. Curvey

Michael E. Kenneally

 

 

/s/Albert R. Gamper, Jr.

 

 

/s/James H. Keyes

Albert R. Gamper, Jr.

 

 

James H. Keyes

/s/Robert F. Gartland

/s/Marie L. Knowles

Robert F. Gartland

 

 

Marie L. Knowles

/s/Arthur E. Johnson

/s/Kenneth L. Wolfe

Arthur E. Johnson

 

 

Kenneth L. Wolfe

EX-101.INS 3 fas4-20121227.xml 0000795422 2011-12-30 2012-12-29 0000795422 fas4:S000005134Member fas4:AtbcMember 2011-12-30 2012-12-29 0000795422 fas4:S000005134Member fas4:AtbcMember fas4:C000014049Member 2011-12-30 2012-12-29 0000795422 fas4:S000005134Member fas4:AtbcMember fas4:C000014050Member 2011-12-30 2012-12-29 0000795422 fas4:S000005134Member fas4:AtbcMember fas4:C000014048Member 2011-12-30 2012-12-29 0000795422 fas4:S000005134Member fas4:AtbcMember fas4:C000014047Member 2011-12-30 2012-12-29 0000795422 fas4:S000005134Member fas4:AtbcMember fas4:BarclaysThreeYearMunicipalBondIndexMember 2011-12-30 2012-12-29 0000795422 fas4:S000005134Member fas4:AtbcMember fas4:BarclaysMunicipalBondIndexMember 2011-12-30 2012-12-29 0000795422 fas4:S000005134Member fas4:AtbcMember fas4:ReturnBeforeTaxesMember fas4:C000014048Member 2011-12-30 2012-12-29 0000795422 fas4:S000005134Member fas4:AtbcMember fas4:ReturnBeforeTaxesMember fas4:C000014050Member 2011-12-30 2012-12-29 0000795422 fas4:S000005134Member fas4:AtbcMember rr:AfterTaxesOnDistributionsAndSalesMember fas4:C000014047Member 2011-12-30 2012-12-29 0000795422 fas4:S000005134Member fas4:AtbcMember rr:AfterTaxesOnDistributionsMember fas4:C000014047Member 2011-12-30 2012-12-29 0000795422 fas4:S000005134Member fas4:AtbcMember fas4:ReturnBeforeTaxesMember fas4:C000014047Member 2011-12-30 2012-12-29 0000795422 fas4:S000005134Member fas4:AtbcMember fas4:ReturnBeforeTaxesMember fas4:C000014049Member 2011-12-30 2012-12-29 0000795422 fas4:S000005134Member fas4:InstMember 2011-12-30 2012-12-29 0000795422 fas4:S000005134Member fas4:InstMember fas4:C000014051Member 2011-12-30 2012-12-29 0000795422 fas4:S000005134Member fas4:InstMember fas4:ReturnBeforeTaxesMember fas4:C000014051Member 2011-12-30 2012-12-29 0000795422 fas4:S000005134Member fas4:InstMember rr:AfterTaxesOnDistributionsMember fas4:C000014051Member 2011-12-30 2012-12-29 0000795422 fas4:S000005134Member fas4:InstMember rr:AfterTaxesOnDistributionsAndSalesMember fas4:C000014051Member 2011-12-30 2012-12-29 0000795422 fas4:S000005134Member fas4:InstMember fas4:BarclaysMunicipalBondIndexMember 2011-12-30 2012-12-29 0000795422 fas4:S000005134Member fas4:InstMember fas4:BarclaysThreeYearMunicipalBondIndexMember 2011-12-30 2012-12-29 pure iso4217:USD 2012-12-29 485BPOS FIDELITY ADVISOR SERIES II 0000795422 2012-12-27 2012-12-29 false 2012-10-31 <font style="FONT-FAMILY: Times New Roman" size="5"><b>Fund Summary</b></font><br/><br/><font style="FONT-FAMILY: Times New Roman" size="3"><b>Fund</b>/Class:<br/><b>Fidelity Advisor</b><sup>&reg;</sup> <b>Municipal Income Fund</b></font><font style="FONT-FAMILY: Times New Roman" size="3">/A, T, B, C</font> <font style="FONT-FAMILY: Times New Roman" size="4"><b>Investment Objective</b></font> <font style="FONT-FAMILY: Times New Roman" size="4"><b>Fee Table</b></font> <font style="FONT-FAMILY: Times New Roman" size="3"><b>Shareholder fees</b></font><br/><font size="-2"><b>(fees paid directly from your investment)</b></font> <font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b></font><br/><font size="-2"><b>(expenses that you pay each year as a % of the value of your investment)</b></font> <font style="FONT-FAMILY: Times New Roman" size="4"><b>Portfolio Turnover</b></font> <font style="FONT-FAMILY: Times New Roman" size="4"><b>Principal Investment Strategies</b></font> <font style="FONT-FAMILY: Times New Roman" size="4"><b>Principal Investment Risks</b></font> <font style="FONT-FAMILY: Times New Roman" size="4"><b>Performance</b></font> <font style="FONT-FAMILY: Times New Roman" size="4"><b>Year-by-Year Returns</b></font> <font style="FONT-FAMILY: Times New Roman" size="4"><b>Average Annual Returns</b></font> <font style="FONT-FAMILY: Times New Roman" size="3">The fund seeks to provide a high current yield exempt from federal income tax.</font> <font style="FONT-FAMILY: Times New Roman" size="3">The following table describes the fees and expenses that may be incurred when you buy, hold, or sell shares of the fund.<br/><br/>You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in the fund or certain other Fidelity funds. More information about these and other discounts is available from your investment professional and in the Fund Distribution section beginning on page (Click Here) of the prospectus.</font> <font style="FONT-FAMILY: Times New Roman" size="3">You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in the fund or certain other Fidelity funds.</font> 50000 0 0.04 0 0 0.05 0 0.01 <font style="FONT-FAMILY: Times New Roman" size="2"><i>On Class C shares redeemed less than one year after purchase.</i></font> <font style="FONT-FAMILY: Times New Roman" size="2"><i>Class A and Class T purchases of $1 million or more will not be subject to a front-end sales charge. Such Class A and Class T purchases may be subject, upon redemption, to a contingent deferred sales charge (CDSC) of 0.75% or 0.25%, respectively. </i></font> <font style="FONT-FAMILY: Times New Roman" size="2"><i>Declines over 6 years from 5.00% to 0%.</i></font> <font style="FONT-FAMILY: Times New Roman" size="2"><i>Class A and Class T purchases of $1 million or more will not be subject to a front-end sales charge. Such Class A and Class T purchases may be subject, upon redemption, to a contingent deferred sales charge (CDSC) of 0.75% or 0.25%, respectively. </i></font> 0.0037 0.0037 0.0037 0.0037 0.0025 0.0025 0.009 0.01 0.0015 0.0014 0.0018 0.0017 0.0077 0.0076 0.0145 0.0154 <font style="FONT-FAMILY: Times New Roman" size="3">This <b>example</b> helps compare the cost of investing in the fund with the cost of investing in other mutual funds.<br/><br/>Let's say, hypothetically, that the annual return for shares of the fund is 5% and that your shareholder fees and the annual operating expenses for shares of the fund are exactly as described in the fee table. This example illustrates the effect of fees and expenses, but is not meant to suggest actual or expected fees and expenses or returns, all of which may vary. For every $10,000 you invested, here's how much you would pay in total expenses if you sell all of your shares at the end of each time period indicated and if you hold your shares:</font> <font style="FONT-FAMILY: Times New Roman" size="3">Sell All Shares</font> <font style="FONT-FAMILY: Times New Roman" size="3">Hold Shares</font> 475 475 648 257 636 633 759 486 805 992 839 811 1316 1305 1464 1834 475 475 148 157 636 459 633 486 805 792 839 811 1316 1305 1464 1834 <font style="FONT-FAMILY: Times New Roman" size="3">The fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when fund shares are held in a taxable account. These costs, which are not reflected in annual operating expenses or in the example, affect the fund's performance. During the most recent fiscal year, the fund's portfolio turnover rate was 6% of the average value of its portfolio.</font> 0.06 <ul><li><font style="FONT-FAMILY: Times New Roman" size="3">Normally investing at least 80% of assets in investment-grade municipal securities whose interest is exempt from federal income tax.</font></li><li><font style="FONT-FAMILY: Times New Roman" size="3">Managing the fund to have similar overall interest rate risk to an index designed to represent Fidelity Management &amp; Research Company (FMR)'s view of how the fund's competitive universe will perform over time.</font></li><li><font style="FONT-FAMILY: Times New Roman" size="3">Allocating assets across different market sectors and maturities.</font></li><li><font style="FONT-FAMILY: Times New Roman" size="3">Potentially investing more than 25% of total assets in municipal securities that finance similar types of projects.</font></li><li><font style="FONT-FAMILY: Times New Roman" size="3">Analyzing the credit quality of the issuer, security-specific features, current and potential future valuation, and trading opportunities to select investments.</font></li></ul> <ul><li><font style="FONT-FAMILY: Times New Roman" size="3"><i>Municipal Market Volatility.</i> The municipal market is volatile and can be significantly affected by adverse tax, legislative, or political changes and the financial condition of the issuers of municipal securities.</font></li><li><font style="FONT-FAMILY: Times New Roman" size="3"><i>Interest Rate Changes.</i> Interest rate increases can cause the price of a debt security to decrease.</font></li><li><font style="FONT-FAMILY: Times New Roman" size="3"><i>Issuer-Specific Changes.</i> The value of an individual security or particular type of security can be more volatile than, and can perform differently from, the market as a whole. A decline in the credit quality of an issuer or a provider of credit support or a maturity-shortening structure for a security can cause the price of a security to decrease.</font></li></ul><font style="FONT-FAMILY: Times New Roman" size="3">An investment in the fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Unlike individual debt securities, which typically pay principal at maturity, the value of an investment in the fund will fluctuate. You could lose money by investing in the fund.</font> <font style="FONT-FAMILY: Times New Roman" size="3">You could lose money by investing in the fund.</font> <font style="FONT-FAMILY: Times New Roman" size="3">An investment in the fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</font> <font style="FONT-FAMILY: Times New Roman" size="3">The following information is intended to help you understand the risks of investing in the fund. The information illustrates the changes in the performance of the fund's shares from year to year and compares the performance of the fund's shares to the performance of a securities market index and an additional index over various periods of time. The indexes have characteristics relevant to the fund's investment strategies. Index descriptions appear in the Additional Information about the Indexes section of the prospectus. Past performance (before and after taxes) is not an indication of future performance.<br /><br />Visit www.advisor.fidelity.com for updated return information.</font> <font style="FONT-FAMILY: Times New Roman" size="3">The returns in the bar chart do not reflect any applicable sales charges; if sales charges were reflected, returns would be lower than those shown.</font> <br /><br /><font style="FONT-FAMILY: Times New Roman" size="2">Calendar Years</font> <font style="FONT-FAMILY: Times New Roman" size="3">The information illustrates the changes in the performance of the fund's shares from year to year and compares the performance of the fund's shares to the performance of a securities market index and an additional index over various periods of time.</font> <font style="FONT-FAMILY: Times New Roman" size="3">Past performance (before and after taxes) is not an indication of future performance.</font> <font style="FONT-FAMILY: Times New Roman" size="3">www.advisor.fidelity.com</font> 0.1014 0.0567 0.0469 0.035 0.0458 0.0261 -0.051 0.1333 0.0212 0.1048 <table border="1" width="95%"><tr><td><div align="left"><i><font size="-1">During the periods shown in the chart for Class A:</font></i> </div></td><td valign="bottom" align="center"><div align="center"><i><font size="-2">Returns</font></i> </div></td><td valign="bottom" align="center"><div align="center"><i><font size="-2">Quarter ended</font></i></div></td></tr><tr><td><div align="left"><i><font size="-1">Highest Quarter Return</font></i> </div></td><td><div align="right"><i><font size="-1">7.31%</font></i> </div></td><td><div align="left"><i><font size="-1">September 30, 2009</font></i></div></td></tr><tr><td><div align="left"><i><font size="-1">Lowest Quarter Return</font></i> </div></td><td><div align="right"><i><font size="-1">-4.34%</font></i> </div></td><td><div align="left"><i><font size="-1">December 31, 2010</font></i></div></td></tr><tr><td><div align="left"><i><font size="-1">Year-to-Date Return</font></i> </div></td><td><div align="right"><i><font size="-1">6.89%</font></i> </div></td><td><div align="left"><i><font size="-1">September 30, 2012</font></i></div></td></tr></table> <font style="FONT-FAMILY: Times New Roman" ><i>Year-to-Date Return</i></font> 2012-09-30 0.0689 <font style="FONT-FAMILY: Times New Roman" ><i>Highest Quarter Return</i></font> 2009-09-30 0.0731 <font style="FONT-FAMILY: Times New Roman" ><i>Lowest Quarter Return</i></font> 2010-12-31 -0.0434 <font style="FONT-FAMILY: Times New Roman" size="3">Unlike the returns in the bar chart, the returns in the table reflect the maximum applicable sales charges. After-tax returns are calculated using the historical highest individual federal marginal income tax rates, but do not reflect the impact of state or local taxes. After-tax returns for Class A are shown in the table below and after-tax returns for other classes will vary. Actual after-tax returns may differ depending on your individual circumstances. Return After Taxes on Distributions and Sale of Fund Shares may be higher than other returns for the same period due to a tax benefit of realizing a capital loss upon the sale of fund shares.</font><br/><br/><font style="FONT-FAMILY: Times New Roman" size="2">For the periods ended<br/>December 31, 2011</font> <font style="FONT-FAMILY: Times New Roman" size="3">Unlike the returns in the bar chart, the returns in the table reflect the maximum applicable sales charges.</font> <font style="FONT-FAMILY: Times New Roman" size="3">After-tax returns are calculated using the historical highest individual federal marginal income tax rates, but do not reflect the impact of state or local taxes.</font> <font style="FONT-FAMILY: Times New Roman" size="3">After-tax returns for Class A are shown in the table below and after-tax returns for other classes will vary.</font> <font style="FONT-FAMILY: Times New Roman" size="3">Return After Taxes on Distributions and Sale of Fund Shares may be higher than other returns for the same period due to a tax benefit of realizing a capital loss upon the sale of fund shares.</font> <font style="FONT-FAMILY: Times New Roman" >Barclays 3+ Year Municipal Bond Index</font> <font style="FONT-FAMILY: Times New Roman" >Barclays<sup>&reg;</sup> Municipal Bond Index</font> <font style="FONT-FAMILY: Times New Roman" ><b>Class B - Return Before Taxes</b></font> <font style="FONT-FAMILY: Times New Roman" ><b>Class T - Return Before Taxes</b></font> <font style="FONT-FAMILY: Times New Roman" ><b>Class A - Return After Taxes on Distributions and Sale of Fund Shares </b></font> <font style="FONT-FAMILY: Times New Roman" ><b>Class A - Return After Taxes on Distributions</b></font> <font style="FONT-FAMILY: Times New Roman" ><b>Class A - Return Before Taxes</b></font> <font style="FONT-FAMILY: Times New Roman" ><b>Class C - Return Before Taxes</b></font> 0.0606 0.0606 0.0526 0.0469 0.1196 0.107 0.0862 0.0612 0.0363 0.0361 0.0365 0.0344 0.037 0.0548 0.0522 0.0363 0.0466 0.046 0.0461 0.0455 0.0567 0.0538 0.0424 0.0455 <font style="FONT-FAMILY: Times New Roman" size="5"><b>Fund Summary</b></font><br/><br/><font style="FONT-FAMILY: Times New Roman" size="3"><b>Fund</b>/Class:<br/><b>Fidelity Advisor</b><sup>&reg;</sup> <b>Municipal Income Fund</b></font><font style="FONT-FAMILY: Times New Roman" size="3">/Institutional</font> <font style="FONT-FAMILY: Times New Roman" size="4"><b>Investment Objective</b></font> <font style="FONT-FAMILY: Times New Roman" size="3">The fund seeks to provide a high current yield exempt from federal income tax.</font> <font style="FONT-FAMILY: Times New Roman" size="4"><b>Fee Table</b></font> <font style="FONT-FAMILY: Times New Roman" size="3">The following table describes the fees and expenses that may be incurred when you buy, hold, or sell shares of the fund.</font> <font style="FONT-FAMILY: Times New Roman" size="3"><b>Shareholder fees</b></font><br/><font size="-2"><b>(fees paid directly from your investment)</b></font> 0 <font style="FONT-FAMILY: Times New Roman" size="3"><b>Annual class operating expenses</b></font><br/><font size="-2"><b>(expenses that you pay each year as a % of the value of your investment)</b></font> 0.0037 0 0.0016 0.0053 <font style="FONT-FAMILY: Times New Roman" size="3">This <b>example</b> helps compare the cost of investing in the fund with the cost of investing in other mutual funds.<br/><br/>Let's say, hypothetically, that the annual return for shares of the fund is 5% and that your shareholder fees and the annual operating expenses for shares of the fund are exactly as described in the fee table. This example illustrates the effect of fees and expenses, but is not meant to suggest actual or expected fees and expenses or returns, all of which may vary. For every $10,000 you invested, here's how much you would pay in total expenses if you sell all of your shares at the end of each time period indicated:</font> 54 170 296 665 <font style="FONT-FAMILY: Times New Roman" size="4"><b>Portfolio Turnover</b></font> <font style="FONT-FAMILY: Times New Roman" size="3">The fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when fund shares are held in a taxable account. These costs, which are not reflected in annual operating expenses or in the example, affect the fund's performance. During the most recent fiscal year, the fund's portfolio turnover rate was 6% of the average value of its portfolio.</font> <font style="FONT-FAMILY: Times New Roman" size="4"><b>Principal Investment Strategies</b></font> <ul><li><font style="FONT-FAMILY: Times New Roman" size="3">Normally investing at least 80% of assets in investment-grade municipal securities whose interest is exempt from federal income tax.</font></li><li><font style="FONT-FAMILY: Times New Roman" size="3">Managing the fund to have similar overall interest rate risk to an index designed to represent Fidelity Management &amp; Research Company (FMR)'s view of how the fund's competitive universe will perform over time.</font></li><li><font style="FONT-FAMILY: Times New Roman" size="3">Allocating assets across different market sectors and maturities.</font></li><li><font style="FONT-FAMILY: Times New Roman" size="3">Potentially investing more than 25% of total assets in municipal securities that finance similar types of projects.</font></li><li><font style="FONT-FAMILY: Times New Roman" size="3">Analyzing the credit quality of the issuer, security-specific features, current and potential future valuation, and trading opportunities to select investments.</font></li></ul> <font style="FONT-FAMILY: Times New Roman" size="4"><b>Principal Investment Risks</b></font> <ul><li><font style="FONT-FAMILY: Times New Roman" size="3"><i>Municipal Market Volatility.</i> The municipal market is volatile and can be significantly affected by adverse tax, legislative, or political changes and the financial condition of the issuers of municipal securities.</font></li><li><font style="FONT-FAMILY: Times New Roman" size="3"><i>Interest Rate Changes.</i> Interest rate increases can cause the price of a debt security to decrease.</font></li><li><font style="FONT-FAMILY: Times New Roman" size="3"><i>Issuer-Specific Changes.</i> The value of an individual security or particular type of security can be more volatile than, and can perform differently from, the market as a whole. A decline in the credit quality of an issuer or a provider of credit support or a maturity-shortening structure for a security can cause the price of a security to decrease.</font></li></ul><font style="FONT-FAMILY: Times New Roman" size="3">An investment in the fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Unlike individual debt securities, which typically pay principal at maturity, the value of an investment in the fund will fluctuate. You could lose money by investing in the fund.</font> <font style="FONT-FAMILY: Times New Roman" size="4"><b>Performance</b></font> <font style="FONT-FAMILY: Times New Roman" size="3">The following information is intended to help you understand the risks of investing in the fund. The information illustrates the changes in the performance of the fund's shares from year to year and compares the performance of the fund's shares to the performance of a securities market index and an additional index over various periods of time. The indexes have characteristics relevant to the fund's investment strategies. Index descriptions appear in the Additional Information about the Indexes section of the prospectus. Past performance (before and after taxes) is not an indication of future performance.<br/><br/>Visit www.advisor.fidelity.com for updated return information.</font> <font style="FONT-FAMILY: Times New Roman" size="4"><b>Year-by-Year Returns</b></font><br/><font style="FONT-FAMILY: Times New Roman" size="2">Calendar Years</font> 0.1024 0.0584 0.0487 0.0369 0.0466 0.0284 -0.0489 0.1357 0.0237 0.1079 <div style="display:none">~ http://www.fidelity.com/role/ScheduleShareholderFeesFidelityAdvisorMunicipalIncomeFund column period compact * ~</div> <div style="display:none">~ http://www.fidelity.com/role/ScheduleExpenseExampleFidelityAdvisorMunicipalIncomeFund column period compact * ~</div> <table border="1" width="95%"><tr><td><div align="left"><i><font size="-1">During the periods shown in the chart:</font></i> </div></td><td valign="bottom" align="center"><div align="center"><i><font size="-2">Returns</font></i> </div></td><td valign="bottom" align="center"><div align="center"><i><font size="-2">Quarter ended</font></i></div></td></tr><tr><td><div align="left"><i><font size="-1">Highest Quarter Return</font></i> </div></td><td><div align="right"><i><font size="-1">7.32%</font></i> </div></td><td><div align="left"><i><font size="-1">September 30, 2009</font></i></div></td></tr><tr><td><div align="left"><i><font size="-1">Lowest Quarter Return</font></i> </div></td><td><div align="right"><i><font size="-1">-4.30%</font></i> </div></td><td><div align="left"><i><font size="-1">December 31, 2010</font></i></div></td></tr><tr><td><div align="left"><i><font size="-1">Year-to-Date Return</font></i> </div></td><td><div align="right"><i><font size="-1">7.04%</font></i> </div></td><td><div align="left"><i><font size="-1">September 30, 2012</font></i></div></td></tr></table> <div style="display:none">~ http://www.fidelity.com/role/ScheduleAnnualTotalReturnsFidelityAdvisorMunicipalIncomeFundBarChart column period compact * ~</div> <div style="display:none">~ http://www.fidelity.com/role/ScheduleExpenseExampleNoRedemptionFidelityAdvisorMunicipalIncomeFund column period compact * ~</div> <font style="FONT-FAMILY: Times New Roman" size="4"><b>Average Annual Returns</b></font> <div style="display:none">~ http://www.fidelity.com/role/ScheduleAverageAnnualTotalReturnsTransposedFidelityAdvisorMunicipalIncomeFund column period compact * ~</div> <font style="FONT-FAMILY: Times New Roman" size="3">After-tax returns are calculated using the historical highest individual federal marginal income tax rates, but do not reflect the impact of state or local taxes. Actual after-tax returns may differ depending on your individual circumstances.</font><br/><br/><font style="FONT-FAMILY: Times New Roman" size="2">For the periods ended<br/>December 31, 2011</font> 0.1079 0.1078 0.0849 0.107 0.1196 0.0473 0.0471 0.0461 0.0522 0.0548 0.0528 0.0522 0.0514 0.0538 0.0567 <div style="display:none">~ http://www.fidelity.com/role/ScheduleAnnualClassOperatingExpensesFidelityAdvisorMunicipalIncomeFund column period compact * ~</div> <font style="FONT-FAMILY: Times New Roman" ><b>Institutional Class</b></font> <font style="FONT-FAMILY: Times New Roman" ><b>Institutional Class</b></font> <font style="FONT-FAMILY: Times New Roman" ><b>Institutional Class</b></font> <font style="FONT-FAMILY: Times New Roman" ><b>Return Before Taxes</b></font> <font style="FONT-FAMILY: Times New Roman" ><b>Return After Taxes on Distributions</b></font> <font style="FONT-FAMILY: Times New Roman" ><b>Return After Taxes on Distributions and Sale of Fund Shares </b></font> <font style="FONT-FAMILY: Times New Roman" >Barclays 3+ Year Municipal Bond Index</font> <font style="FONT-FAMILY: Times New Roman" >Barclays<sup>&reg;</sup> Municipal Bond Index</font> 0.06 <font style="FONT-FAMILY: Times New Roman" size="3">An investment in the fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. </font> <font style="FONT-FAMILY: Times New Roman" size="3">You could lose money by investing in the fund.</font> <font style="FONT-FAMILY: Times New Roman" size="3">The information illustrates the changes in the performance of the fund's shares from year to year and compares the performance of the fund's shares to the performance of a securities market index and an additional index over various periods of time.</font> <font style="FONT-FAMILY: Times New Roman" size="3">Past performance (before and after taxes) is not an indication of future performance.</font> <font style="FONT-FAMILY: Times New Roman" size="3">www.advisor.fidelity.com</font> <font style="FONT-FAMILY: Times New Roman" size="3">After-tax returns are calculated using the historical highest individual federal marginal income tax rates, but do not reflect the impact of state or local taxes.</font> <div style="display:none">~ http://www.fidelity.com/role/ScheduleAnnualClassOperatingExpensesFidelityAdvisorMunicipalIncomeFundInstitutionalClass column period compact * ~</div> <div style="display:none">~ http://www.fidelity.com/role/ScheduleExpenseExampleFidelityAdvisorMunicipalIncomeFundInstitutionalClass column period compact * ~</div> <div style="display:none">~ http://www.fidelity.com/role/ScheduleAnnualTotalReturnsFidelityAdvisorMunicipalIncomeFundInstitutionalClassBarChart column period compact * ~</div> <div style="display:none">~ http://www.fidelity.com/role/ScheduleAverageAnnualTotalReturnsTransposedFidelityAdvisorMunicipalIncomeFundInstitutionalClass column period compact * ~</div> <font style="FONT-FAMILY: Times New Roman" ><i>Year-to-Date Return</i></font> <font style="FONT-FAMILY: Times New Roman" ><i>Highest Quarter Return</i></font> <font style="FONT-FAMILY: Times New Roman" ><i>Lowest Quarter Return</i></font> 2012-09-30 0.0704 2009-09-30 0.0732 2010-12-31 -0.043 <div style="display:none">~ http://www.fidelity.com/role/ScheduleShareholderFeesFidelityAdvisorMunicipalIncomeFundInstitutionalClass column period compact * ~</div> 0.04 Class A and Class T purchases of $1 million or more will not be subject to a front-end sales charge. Such Class A and Class T purchases may be subject, upon redemption, to a contingent deferred sales charge (CDSC) of 0.75% or 0.25%, respectively. Declines over 6 years from 5.00% to 0%. On Class C shares redeemed less than one year after purchase. 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