-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, SD0Mt2esZsMTiint2YRw502TG2APRW8AkvgsRvg23nj4w150uGhVySZCyWYHzwXx NyFLJE+B3i21wNKR7tQLoQ== 0000880195-09-000171.txt : 20090730 0000880195-09-000171.hdr.sgml : 20090730 20090730151257 ACCESSION NUMBER: 0000880195-09-000171 CONFORMED SUBMISSION TYPE: NSAR-A PUBLIC DOCUMENT COUNT: 4 CONFORMED PERIOD OF REPORT: 20090531 FILED AS OF DATE: 20090730 DATE AS OF CHANGE: 20090730 EFFECTIVENESS DATE: 20090730 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FIDELITY PHILLIPS STREET TRUST CENTRAL INDEX KEY: 0000278001 IRS NUMBER: 042667982 STATE OF INCORPORATION: MA FISCAL YEAR END: 1130 FILING VALUES: FORM TYPE: NSAR-A SEC ACT: 1940 Act SEC FILE NUMBER: 811-02890 FILM NUMBER: 09973467 BUSINESS ADDRESS: STREET 1: 82 DEVONSHIRE ST CITY: BOSTON STATE: MA ZIP: 02109 BUSINESS PHONE: 2142816360 MAIL ADDRESS: STREET 1: FIDLEITY INVESTMENTS MAILZONE DW4B STREET 2: P.O. BOX 650471 CITY: DALLAS STATE: TX ZIP: 75265-0471 FORMER COMPANY: FORMER CONFORMED NAME: FIDELITY CASH RESERVES DATE OF NAME CHANGE: 19930122 0000278001 S000007149 Fidelity Cash Reserves C000019553 Fidelity Cash Reserves FDRXX 0000278001 S000007150 Fidelity U.S. Government Reserves C000019554 Fidelity U.S. Government Reserves FGRXX NSAR-A 1 answer2890.fil ANSWER FILE PAGE 1 000 A000000 05/31/2009 000 C000000 0000278001 000 D000000 N 000 E000000 NF 000 F000000 Y 000 G000000 N 000 H000000 N 000 I000000 6.1 000 J000000 A 001 A000000 FIDELITY PHILLIPS STREET TRUST 001 B000000 811-02890 001 C000000 6037917481 002 A000000 82 DEVONSHIRE STREET 002 B000000 BOSTON 002 C000000 MA 002 D010000 02109 003 000000 N 004 000000 N 005 000000 N 006 000000 N 007 A000000 Y 007 B000000 2 007 C010100 1 007 C020100 Fidelity Cash Reserves 007 C030100 N 007 C010200 2 007 C020200 Fidelity U.S. Government Reserves 007 C030200 N 008 A00AA01 FIDELITY MANAGEMENT & RESEARCH COMPANY (FMR) 008 B00AA01 A 008 C00AA01 801-7884 008 D01AA01 BOSTON 008 D02AA01 MA 008 D03AA01 02109 008 A00AA02 FIDELITY INVESTMENTS MONEY MANAGEMENT, INC. 008 B00AA02 S 008 C00AA02 801-34590 008 D01AA02 MERRIMACK 008 D02AA02 NH 008 D03AA02 03054 008 A00AA03 FIL INVESTMENT ADVISORS 008 B00AA03 S 008 C00AA03 801-21347 008 D01AA03 PEMBROKE 008 D05AA03 BERMUDA 008 A00AA04 FIL INVESTMENT ADVISORS (U.K.) LTD 008 B00AA04 S 008 C00AA04 801-23620 008 D01AA04 LONDON 008 D05AA04 ENGLAND 008 A00AA05 FIDELITY RESEARCH & ANALYSIS COMPANY (FRAC) PAGE 2 008 B00AA05 S 008 C00AA05 801-28774 008 D01AA05 BOSTON 008 D02AA05 MA 008 D03AA05 02109 008 A00AA06 FIDELITY MANAGEMENT & RESEARCH (U.K.), INC. 008 B00AA06 S 008 C00AA06 801-28773 008 D01AA06 LONDON 008 D05AA06 ENGLAND 008 A00AA07 FIDELITY MANAGEMENT & RESEARCH (HONG KONG)LTD 008 B00AA07 S 008 C00AA07 801-69507 008 D01AA07 HONG KONG 008 D05AA07 HONG KONG, SAR 008 A00AA08 FIDELITY MANAGEMENT & RESEARCH (JAPAN) INC 008 B00AA08 S 008 C00AA08 801-69571 008 D01AA08 BOSTON 008 D02AA08 MA 008 D03AA08 02109 011 A00AA01 FIDELITY DISTRIBUTORS CORPORATION 011 B00AA01 8-8775 011 C01AA01 BOSTON 011 C02AA01 MA 011 C03AA01 02109 012 A00AA01 FIDELITY INVESTMENTS INSTIT. OPERATIONS CO. 012 B00AA01 84-1839 012 C01AA01 BOSTON 012 C02AA01 MA 012 C03AA01 02109 013 A00AA01 PRICEWATERHOUSECOOPERS LLP 013 B01AA01 BOSTON 013 B02AA01 MA 013 B03AA01 02110 014 A00AA01 FIDELITY BROKERAGE SERVICES LLC 014 B00AA01 8-23292 014 A00AA02 FIDELITY DISTRIBUTORS CORPORATION 014 B00AA02 8-8775 014 A00AA03 NATIONAL FINANCIAL SERVICES LLC 014 B00AA03 8-26740 014 A00AA04 FIDELITY INVESTMENTS CANADA LTD. 014 B00AA04 8-0000 014 A00AA05 FIDELITY BROKERAGE SERVICES JAPAN LLC 014 B00AA05 8-00000 015 A000101 BANK OF NEW YORK MELLON 015 B000101 C 015 C010101 NEW YORK 015 C020101 NY 015 C030101 10286 015 E010101 X PAGE 3 015 A000102 JPMORGAN CHASE BANK 015 B000102 C 015 C010102 NEW YORK 015 C020102 NY 015 C030102 10022 015 E010102 X 015 A000103 BANK OF NEW YORK MELLON 015 B000103 S 015 C010103 NEW YORK 015 C020103 NY 015 C030103 10286 015 E010103 X 015 A000201 JPMORGAN CHASE BANK 015 B000201 C 015 C010201 NEW YORK 015 C020201 NY 015 C030201 10022 015 E010201 X 015 A000202 BANK OF NEW YORK MELLON 015 B000202 C 015 C010202 NEW YORK 015 C020202 NY 015 C030202 10286 015 E010202 X 015 A000203 JPMORGAN CHASE BANK 015 B000203 S 015 C010203 NEW YORK 015 C020203 NY 015 C030203 10022 015 E010203 X 018 00AA00 Y 019 A00AA00 Y 019 B00AA00 413 019 C00AA00 FIDELITYZZ 021 000000 0 022 A000001 BARCLAYS PLC 022 B000001 13-4942190 022 C000001 275697744 022 D000001 1986455 022 A000002 CREDIT SUISSE GROUP 022 B000002 13-5659485 022 C000002 221215873 022 D000002 1237269 022 A000003 BANK OF AMERICA CORP. 022 B000003 04-3410012 022 C000003 182640407 022 D000003 1839569 022 A000004 DEUTSCHE BANK AG 022 B000004 36-6843535 022 C000004 98293399 022 D000004 3239690 PAGE 4 022 A000005 JPMORGAN CHASE & CO. 022 B000005 13-3224016 022 C000005 78085197 022 D000005 4277544 022 A000006 BNP PARIBAS 022 B000006 94-1677765 022 C000006 76805461 022 D000006 414170 022 A000007 ROYAL BANK OF CANADA 022 B000007 66-0178435 022 C000007 72761270 022 D000007 0 022 A000008 UBS AG 022 B000008 13-3873456 022 C000008 50331414 022 D000008 200000 022 A000009 CITIGROUP, INC. 022 B000009 04-3531811 022 C000009 27252719 022 D000009 0 022 A000010 ING GROEP NV 022 B000010 22-3058964 022 C000010 19300000 022 D000010 0 023 C000000 1451192850 023 D000000 17638086 024 000100 Y 024 000200 N 025 A000101 BNP PARIBAS 025 B000101 94-1677765 025 C000101 D 025 D000101 4178000 025 A000102 CITIGROUP, INC. 025 B000102 04-3531811 025 C000102 D 025 D000102 50000 025 A000103 DEUTSCHE BANK AG 025 B000103 36-6843535 025 C000103 D 025 D000103 1375000 025 A000104 ROYAL BANK OF CANADA 025 B000104 66-0178435 025 C000104 D 025 D000104 2653000 025 A000105 UBS AG 025 B000105 13-3873456 025 C000105 D 025 D000105 384940 026 A000000 N 026 B000000 N 026 C000000 N PAGE 5 026 D000000 Y 026 E000000 Y 026 F000000 N 026 G010000 N 026 G020000 N 026 H000000 N 027 000000 Y 028 A010100 22594519 028 A020100 229585 028 A030100 0 028 A040100 21789374 028 B010100 21013342 028 B020100 185154 028 B030100 0 028 B040100 19813685 028 C010100 20231399 028 C020100 116608 028 C030100 0 028 C040100 17931476 028 D010100 26668385 028 D020100 113952 028 D030100 0 028 D040100 23487408 028 E010100 22883898 028 E020100 95222 028 E030100 0 028 E040100 23518241 028 F010100 20659800 028 F020100 83493 028 F030100 0 028 F040100 22763112 028 G010100 134051343 028 G020100 824014 028 G030100 0 028 G040100 129303296 028 H000100 0 028 A010200 447499 028 A020200 5564 028 A030200 0 028 A040200 487800 028 B010200 662808 028 B020200 4143 028 B030200 0 028 B040200 444487 028 C010200 666764 028 C020200 2965 028 C030200 0 028 C040200 531279 028 D010200 572269 028 D020200 2976 028 D030200 0 PAGE 6 028 D040200 434447 028 E010200 308261 028 E020200 1973 028 E030200 0 028 E040200 480316 028 F010200 312788 028 F020200 1807 028 F030200 0 028 F040200 470625 028 G010200 2970389 028 G020200 19428 028 G030200 0 028 G040200 2848954 028 H000200 0 029 00AA00 N 030 A00AA00 0 030 B00AA00 0.00 030 C00AA00 0.00 031 A00AA00 0 031 B00AA00 0 032 00AA00 0 033 00AA00 0 034 00AA00 N 035 00AA00 0 036 B00AA00 0 037 00AA00 N 038 00AA00 0 039 00AA00 N 040 00AA00 Y 041 00AA00 N 042 A000100 0 042 B000100 0 042 C000100 0 042 D000100 0 042 E000100 0 042 F000100 0 042 G000100 0 042 H000100 0 042 A000200 0 042 B000200 0 042 C000200 0 042 D000200 0 042 E000200 0 042 F000200 0 042 G000200 0 042 H000200 0 043 000100 0 043 000200 0 044 000100 13 044 000200 1 045 00AA00 Y PAGE 7 046 00AA00 N 047 00AA00 N 048 00AA00 0.000 048 A01AA00 0 048 A02AA00 0.000 048 B01AA00 0 048 B02AA00 0.000 048 C01AA00 0 048 C02AA00 0.000 048 D01AA00 0 048 D02AA00 0.000 048 E01AA00 0 048 E02AA00 0.000 048 F01AA00 0 048 F02AA00 0.000 048 G01AA00 0 048 G02AA00 0.000 048 H01AA00 0 048 H02AA00 0.000 048 I01AA00 0 048 I02AA00 0.000 048 J01AA00 0 048 J02AA00 0.000 048 K01AA00 0 048 K02AA00 0.000 049 000100 N 049 000200 N 050 000100 Y 050 000200 Y 051 000100 N 051 000200 N 052 000100 Y 052 000200 Y 053 A000100 Y 053 B000100 Y 053 C000100 N 053 A000200 N 054 A00AA00 Y 054 B00AA00 Y 054 C00AA00 N 054 D00AA00 N 054 E00AA00 N 054 F00AA00 N 054 G00AA00 Y 054 H00AA00 Y 054 I00AA00 N 054 J00AA00 Y 054 K00AA00 Y 054 L00AA00 N 054 M00AA00 Y 054 N00AA00 Y PAGE 8 054 O00AA00 Y 055 A000100 N 055 B000100 N 055 A000200 N 055 B000200 N 056 000100 Y 056 000200 Y 057 000100 N 057 000200 N 058 A000100 N 058 A000200 N 059 000100 Y 059 000200 Y 060 A000100 Y 060 B000100 Y 060 A000200 Y 060 B000200 Y 061 000100 2500 061 000200 2500 062 A000100 Y 062 B000100 7.7 062 C000100 20.0 062 D000100 6.1 062 E000100 0.0 062 F000100 30.2 062 G000100 13.6 062 H000100 0.3 062 I000100 11.8 062 J000100 0.0 062 K000100 0.0 062 L000100 11.6 062 M000100 0.0 062 N000100 0.0 062 O000100 0.0 062 P000100 0.0 062 Q000100 0.0 062 R000100 0.0 062 A000200 Y 062 B000200 9.7 062 C000200 60.7 062 D000200 29.0 062 E000200 0.0 062 F000200 0.0 062 G000200 0.0 062 H000200 0.0 062 I000200 0.0 062 J000200 0.0 062 K000200 0.0 062 L000200 0.0 062 M000200 0.0 062 N000200 0.0 PAGE 9 062 O000200 0.0 062 P000200 0.0 062 Q000200 0.0 062 R000200 0.0 063 A000100 81 063 B000100 0.0 063 A000200 69 063 B000200 0.0 064 A000100 Y 064 B000100 N 064 A000200 Y 064 B000200 N 066 A000100 N 066 A000200 N 067 000100 N 067 000200 N 068 A000100 N 068 B000100 N 068 A000200 N 068 B000200 N 069 000100 N 069 000200 N 070 A010100 Y 070 A020100 Y 070 B010100 N 070 B020100 N 070 C010100 N 070 C020100 N 070 D010100 N 070 D020100 N 070 E010100 N 070 E020100 N 070 F010100 N 070 F020100 N 070 G010100 N 070 G020100 N 070 H010100 N 070 H020100 N 070 I010100 N 070 I020100 N 070 J010100 Y 070 J020100 Y 070 K010100 Y 070 K020100 N 070 L010100 Y 070 L020100 Y 070 M010100 N 070 M020100 N 070 N010100 Y 070 N020100 N 070 O010100 Y PAGE 10 070 O020100 N 070 P010100 Y 070 P020100 N 070 Q010100 N 070 Q020100 N 070 R010100 Y 070 R020100 N 070 A010200 Y 070 A020200 Y 070 B010200 N 070 B020200 N 070 C010200 N 070 C020200 N 070 D010200 N 070 D020200 N 070 E010200 N 070 E020200 N 070 F010200 N 070 F020200 N 070 G010200 N 070 G020200 N 070 H010200 N 070 H020200 N 070 I010200 N 070 I020200 N 070 J010200 Y 070 J020200 N 070 K010200 Y 070 K020200 N 070 L010200 Y 070 L020200 N 070 M010200 N 070 M020200 N 070 N010200 Y 070 N020200 N 070 O010200 Y 070 O020200 N 070 P010200 Y 070 P020200 N 070 Q010200 N 070 Q020200 N 070 R010200 Y 070 R020200 N 071 A000100 0 071 B000100 0 071 C000100 0 071 D000100 0 071 A000200 0 071 B000200 0 071 C000200 0 071 D000200 0 PAGE 11 072 A000100 6 072 B000100 1120246 072 C000100 0 072 D000100 0 072 E000100 0 072 F000100 133400 072 G000100 0 072 H000100 0 072 I000100 123491 072 J000100 732 072 K000100 0 072 L000100 0 072 M000100 248 072 N000100 1425 072 O000100 0 072 P000100 0 072 Q000100 1806 072 R000100 257 072 S000100 224 072 T000100 0 072 U000100 0 072 V000100 0 072 W000100 27479 072 X000100 289062 072 Y000100 14 072 Z000100 831198 072AA000100 13565 072BB000100 0 072CC010100 0 072CC020100 0 072DD010100 831198 072DD020100 0 072EE000100 0 072 A000200 6 072 B000200 28368 072 C000200 0 072 D000200 0 072 E000200 0 072 F000200 4681 072 G000200 0 072 H000200 0 072 I000200 2954 072 J000200 20 072 K000200 0 072 L000200 0 072 M000200 9 072 N000200 101 072 O000200 0 072 P000200 0 072 Q000200 212 072 R000200 25 PAGE 12 072 S000200 8 072 T000200 0 072 U000200 0 072 V000200 0 072 W000200 785 072 X000200 8795 072 Y000200 0 072 Z000200 19573 072AA000200 110 072BB000200 0 072CC010200 0 072CC020200 0 072DD010200 19575 072DD020200 0 072EE000200 0 073 A010100 0.0060 073 A020100 0.0000 073 B000100 0.0000 073 C000100 0.0000 073 A010200 0.0040 073 A020200 0.0000 073 B000200 0.0000 073 C000200 0.0000 074 A000100 950 074 B000100 8625051 074 C000100 99999999 074 D000100 0 074 E000100 0 074 F000100 0 074 G000100 0 074 H000100 0 074 I000100 0 074 J000100 249934 074 K000100 0 074 L000100 1223288 074 M000100 15687 074 N000100 99999999 074 O000100 2176721 074 P000100 43036 074 Q000100 0 074 R010100 0 074 R020100 0 074 R030100 0 074 R040100 1068092 074 S000100 0 074 T000100 99999999 074 U010100 99999999 074 U020100 0 074 V010100 1.00 074 V020100 0.00 074 W000100 1.0002 PAGE 13 074 X000100 6457815 074 Y000100 0 074 A000200 0 074 B000200 1410417 074 C000200 3415415 074 D000200 0 074 E000200 0 074 F000200 0 074 G000200 0 074 H000200 0 074 I000200 0 074 J000200 0 074 K000200 0 074 L000200 77077 074 M000200 27 074 N000200 4902936 074 O000200 27930 074 P000200 1303 074 Q000200 0 074 R010200 0 074 R020200 0 074 R030200 0 074 R040200 16325 074 S000200 0 074 T000200 4857378 074 U010200 4856610 074 U020200 0 074 V010200 1.00 074 V020200 0.00 074 W000200 1.0002 074 X000200 148387 074 Y000200 0 075 A000100 99999999 075 B000100 0 075 A000200 4919357 075 B000200 0 076 000100 0.00 076 000200 0.00 077 A000000 Y 077 B000000 N 077 C000000 N 077 D000000 N 077 E000000 N 077 F000000 N 077 G000000 N 077 H000000 N 077 I000000 N 077 J000000 N 077 K000000 N 077 L000000 N 077 M000000 N PAGE 14 077 N000000 N 077 O000000 N 077 P000000 N 077 Q010000 Y 077 Q020000 N 077 Q030000 N 078 000000 N 080 C00AA00 0 081 B00AA00 0 082 B00AA00 0 083 B00AA00 0 084 B00AA00 0 086 A010000 0 086 A020000 0 086 B010000 0 086 B020000 0 086 C010000 0 086 C020000 0 086 D010000 0 086 D020000 0 086 E010000 0 086 E020000 0 086 F010000 0 086 F020000 0 SIGNATURE JOHN R. HEBBLE TITLE PRESIDENT AND TREASURER EX-99.77Q1 OTHR EXHB 2 q77q1_forsubcustodiansjpm.txt SUB CUSTODIAN Exhibit 77Q1 - Additional Items Because the electronic format for filing Form N-SAR does not provide adequate space for responding to Item 15, the registrant has included the complete list of foreign sub-custodians below. Item 15 CUSTODIAN: JPMorgan Chase Country Subcustodian Name City Argentina HSBC Bank Argentina S.A Buenos Aires Australia JPMorgan Chase Bank, N.A. Sydney Austria UniCredit Bank Austria AG Vienna Bahrain HSBC Bank Middle East Limited Manama Bangladesh Standard Chartered Bank Dhaka Belgium Fortis Bank (Nederland) N.V. Amsterdam Bermuda The Bank of Bermuda Limited Hamilton Botswana Barclays Bank of Botswana Limited Gaborone Brazil HSBC Bank Brasil S.A. Banco Multiplo Sao Paulo Bulgaria ING Bank N.V. Sofia Canada Canadian Imperial Bank of Commerce Toronto Canada Royal Bank of Canada Toronto Chile Banco de Chile Santiago China (Shanghai) HSBC Bank (China) Company Limited Shanghai China (Shenzhen) HSBC Bank (China) Company Limited Shanghai Colombia Santander Investment Trust Colombia S.A. Bogota Croatia Privredna banka Zagreb d.d. Zagreb Cyprus Marfin Popular Bank Public Company Ltd. Nicosia Czech Republic UniCredit Bank Czech Republic a.s. Prague Denmark Danske Bank A/S Copenhagen Denmark Nordea Bank Danmark A/S Copenhagen Egypt Citibank, N.A. Cairo Estonia Swedbank AS Tallinn Finland Nordea Bank Finland Plc Helsinki France BNP Paribas Securities Services S.A. Paris France Societe Generale Paris Germany Deutsche Bank AG Frankfurt Germany J.P. Morgan AG Frankfurt Ghana Barclays Bank of Ghana Limited Accra Greece HSBC Bank PLC Athens Hong Kong The Hongkong and Shanghai Banking Corporation LimitHong Kong Hungary Deutsche Bank Zrt. Budapest Iceland* Islandsbanki hf. Reykjavik India The Hongkong and Shanghai Banking Corporation LimitMumbai India Standard Chartered Bank Mumbai Indonesia Deutsche Bank AG Jakarta International Securities MaEuroclear Bank Ireland Bank of Ireland Dublin Israel Bank Leumi le-Israel B.M. Tel Aviv Italy Intesa Sanpaolo S.p.A. Milan Ivory Coast* Societe Generale de Banques en Cote d'Ivoire Abidjan Jamaica* To Be Determined Japan Mizuho Corporate Bank, Limited Tokyo Japan The Bank of Tokyo-Mitsubishi UFJ Limited, Tokyo Tokyo Jordan HSBC Bank Middle East Limited Amman Kazakhstan SB HSBC Bank Kazakhstan JSD Almaty Kenya Barclays Bank of Kenya Limited Nairobi Kuwait HSBC Bank Middle East Limited Safat Latvia Swedbank AS Riga Lebanon HSBC Bank Middle East Limited Ras-Beirut Lithuania AB SEB Bankas Vilnius Luxembourg BGL S.A. Luxembourg Malaysia HSBC Bank Malaysia Berhad Kuala Lumpur Malta HSBC Bank Malta p.i.c. Valletta Mauritius The Hongkong and Shanghai Banking Corporation LimitPort Louis Mexico Banco Nacional de Mexico, S.A. Mexico, D.F. Morocco Societe Generale Marocaine de Banques Casablanca Namibia Standard Bank Namibia Limited Windhoek Netherlands BNP Paribas Securities Services S.A. Amsterdam New Zealand National Australia Bank Limited, Auckland (NationalAuckland Nigeria Stanbic IBTC Bank Plc Lagos Norway Nordea Bank Norge ASA Oslo Oman HSBC Bank Middle East Limited Ruwi Pakistan Standard Chartered Bank (Pakistan) Limited Karachi Panama HSBC Bank (Panama) S.A. Panama City Peru Citibank del Peru S.A. Lima Philippines The Hongkong and Shanghai Banking Corporation LimitManila Poland Bank Handlowy w. Warszawie S.A. Warsaw Portugal Banco Espirito Santo, S.A. Lisbon Qatar HSBC Bank Middle East Limited Doha Romania ING Bank N.V. Bucharest Russia* J.P. Morgan Bank International (Limited Liability CMoscow Russia ING Bank (Eurasia) ZAO (Closed Joint Stock Company)Moscow Saudi Arabia SABB Securities Limited Riyadh Serbia UniCredit Bank Srbija a.d. Belgrade Singapore DBS Bank Ltd., Singapore Singapore Slovak Republic UniCredit Bank Slovakia a.s. Bratislava Slovenia UniCredit Banka Slovenija d.d. Ljubljana South Africa FirstRand Bank Limited Johannesburg South Korea Standard Chartered First Bank Korea Limited Seoul Spain Santander Investment, S.A. Madrid Sri Lanka The Hongkong and Shanghai Banking Corporation LimitColombo Sweden Skandinaviska Enskilda Banken AB (publ) Stockholm Sweden Nordea Bank AB (publ) Stockholm Switzerland UBS AG Zurich Taiwan JPMorgan Chase Bank, N.A. Taipei Thailand Standard Chartered Bank (Thai) Public Company LimitBangkok Tunisia Banque Internationale Arabe de Tunisie, S.A. Tunis Turkey Citibank A.S. Istanbul Ukraine* ING Bank Ukraine Kiev United Arab Emirates - DFM HSBC Bank Middle East Limited Dubai United Arab Emirates - NASDHSBC Bank Middle East Limited Dubai United Arab Emirates - ADX HSBC Bank Middle East Limited Dubai United Kingdom JPMorgan Chase Bank, N.A. London United Kingdom Deutsche Bank AG, London (The Depository and CleariLondon United States JPMorgan Chase Bank, N.A. New York Uruguay Banco Itau Uruguay S.A. Montevideo Venezuela Citibank, N.A. Caracas Vietnam HSBC Bank (Vietnam) Ltd. Ho Chi Minh City Zambia Barclays Bank Zambia Plc Lusaka Zimbabwe* Barclays Bank of Zimbabwe Limited Harare *Restricted Service Only
EX-99.77Q1 OTHR EXHB 3 q77q1_forsubcustodiansbony.txt SUB CUSTODIAN Exhibit 77Q1 - Additional Items Because the electronic format for filing Form N-SAR does not provide adequate space for responding to Item 15, the registrant has included the complete list of foreign sub-custodians below. Item 15 CUSTODIAN: The Bank of New York Mellon Country Subcustodian Name Legacy BNY City Argentina Citibank, Buenos Aires Buenos Aires Australia National Australia Bank Ltd (2007) Melbourne, Victoria 3000 Austria UniCredit Bank Austria AG Vienna, Austria Bahrain HSBC, Manama Manama 304 Bahrain Bangladesh Standard Chartered Bank, Dhaka Dhaka - 1000, Bangladesh Belgium ING Belgium Brussels, Belgium Benin Societe Generale de Banques de Banques en Cote d'lvoirePlateau Abidjan Bermuda Bank of Bermuda Limited Cote d'Ivoire Botswana Barclays Bank of Botswana Limited, Gaborone Khama Crescent Gaborone Brazil Citibank N.A., Sao Paulo Sao Paulo Bulgaria ING Bank N.V. Sofia Burkina Faso Societe Generale de Banques en Cote d'lvoire Plateau Abidjan Canada CIBC Mellon Trust Company Cote d'Ivoire Caymen Islands The Bank of New York Mellon London Channel Islands The Bank of New York Mellon London Chile Banco de Chile Las Condes, Santiago China A HSBC Bank (China) Company Limited Shanghai China B HSBC Bank (China) Company Limited Shanghai Colombia Cititrust Colombia S.A., Santa Fe de Bogota, D.C. Croatia Privredna banka Zagreb 10000 Zagreb Costa Rica Banco BCT Edificio BCT Cyprus EFG Eurobank Ergasias S.A. Athens Czech Republic ING Bank N.V Prague Prague Denmark Danske Bank Copenhagen Ecuador Banco de la Produccion S.A Quito Egypt HSBC Maadi, Cairo Estonia SEB Pank AS Tallinn Euroclear Euroclear Bank S.A Brussels Finland Skandinaviska Enskilda Banken Helsinki France BNP Paribas Securities Services, Paris/ CASEIS Bank Paris Germany BHF Bank Akfiengesellschaft Offenbach am Main Ghana Barclays Bank of Ghana Limited, Accra Accra Greece EFG Eurobank Ergasias S.A. Athens Guinea Bissau Societe Generale de Banques Plateau Abidjan Hong Kong HSBC, Hong Kong Kowloon Hungary ING Bank Hungary Budapest Iceland Landsbanki Islands Reykjavik India Deutsche Bank AG Mumbai/ HSBC Mumbai Indonesia HSBC, Jakarta Jakarta Ireland The Bank of New York Mellon, London Branch Manchester Israel Bank Hapoalim B.M Tel Aviv 61000, Israel Italy Intesa Sanpaolo S.p.A 20152 Milan Ivory Coast Societe Generale de Banques Plateau Abidjan Japan BTMU/ Mizuho Corporate Bank Tokyo Jordan HSBC, Amman Amman Kazakhstan HSBC, Kazakhstan Almaty Kenya Barclays Bank of Kenya Limited, Nairobi Nairobi Kuwait HSBC Middle East Ltd Safat Latvia AS SEB banka Riga Lebanon HSBC, Beirut Beirut Lithuania SEB Bankas Vilnius Luxembourg Banque et Caisse d'Epargne de l'Etat Luxembourg Malaysia HSBC Malaysia Kuala Lumpur Mali Societe Generale de Banques Plateau Abidjan Malta HSBC Bank Malta Valletta Mauritius HSBC, Port Louis 18 Cybercity, Ebene Mexico Banco Nacional De Mexico Mexico City Morocco Citibank Maghreb Casablanca Namibia Standard Bank Namibia LTD Windhoek The Netherlands BNY Mellon Asset Servicing B.V Manchester New Zealand National Australia Bank Ltd Auckland Niger Societe Generale de Banques en Cote d'lvoire Plateau Abidjan Nigeria Stanbic IBTC Bank PIc Victoria Island, Lagos Norway DnB Nor Bank ASA Oslo Oman HSBC Sultanate of Oman Pakistan Deutsche Bank AG, Karachi Karachi Palestinian Autonomous ArHSBC Ramallah, West Bank Panama HSBC Panama City Peru Citibank del Peru, Lima Lima The Philippines HSBC, Manila Makati City Poland ING Bank Slaski Warsaw Portugal Banco Comercial Portugues S.A., Lisbon 2744-002 Porto Salvo Qatar HSBC Middle East Ltd Doha Romania ING Bank Bucharest Bucharest Russia ING Bank Moscow Saudi Arabia SABB Securities Limited Riyadh Senegal Societe Generale de Banques en Cote d'lvoire Plateau Abidjan Serbia UniCredit Bank Austria AG Belgrade Singapore United Overseas Bank Limited/ Development Bank of Singa Singapore Slovakia ING Bank N.V. Bratislava Slovenia Unicredit Banka Slovenia Ljubljana South Africa Standard Bank of South Africa Johannesburg South Korea HSBC Seoul Spain Banco Bilboa Vizcaya Argentaria/ Santander Madrid Sri Lanka HSBC Colombo Swaziland Standard Bank Swaziland Limited Mbabane Sweden Skandinaviska Enskilda Banken, Stockholm SE-106 40 Stockholm Switzerland Credit Suisse, Zurich 8070 Zurich Taiwan Standard Chartered Bank (Taiwan) Ltd. Taipei Thailand HSBC/Bangkok Bank Public Company Ltd Bangkok Togo Societe Generale de Banques en Cote d'lvoire Plateau Abidjan Trinidad and Tobago Republic Bank Limited Port of Spain, Trinidad & Tobago Tunisia Banque Internationale Arabe de Tunisie, Tunis Tunis Turkey Deutsche Bank A.S Istanbul Uganda Barclays Bank of Uganda, Kampala Kampala Ukraine ING Bank Ukraine Kyiv United Arab Emirates HSBC, Dubai Dubai United Kingdom Deutsche Bank AG Manchester United States The Bank of New York Mellon New York Uruguay Banco Itau Uruguay S.A. Montevideo Venezuela Citibank, N.A., Caracas Caracas Vietnam HSBC Ho Chi Minh City Zambia Barclays Bank of Zambia Limited, Lusaka Lusaka Zimbabwe Barclays Bank of Zimbabwe Limited, Harare Harare
EX-99.77Q1 OTHR EXHB 4 q77q1_bylaws.htm BYLAWS 4:

April 23, 2009

BYLAWS

of

FIDELITY DELAWARE STATUTORY TRUSTS

These Bylaws of Fidelity Delaware statutory trusts (individually the "Trust") are subject to the Trust Instrument of the Trust, as from time to time amended, supplemented or restated (the "Trust Instrument"). Capitalized terms used herein which are defined in the Trust Instrument are used as therein defined.

ARTICLE I

PRINCIPAL OFFICE

The principal office of the Trust shall be located in Boston, Massachusetts, or such other location as the Trustees may, from time to time, determine. The Trust may establish and maintain such other offices and places of business as the Trustees may, from time to time, determine.

ARTICLE II

OFFICERS AND THEIR ELECTION

Officers

Section 1. The officers of the Trust shall be a President, a Treasurer, a Secretary, and such other officers as the Trustees may from time to time elect. The Trustees may delegate to any officer or committee the power to appoint any subordinate officers or agents. It shall not be necessary for any Trustee or other officer to be a holder of Shares in the Trust.

Election of Officers

Section 2. The President, Treasurer and Secretary shall be chosen by the Trustees. Subject to the provisions of Section 14 of Article III hereof, the President, the Treasurer and the Secretary shall each hold office until their successors are chosen and qualified and all other officers shall hold office at the pleasure of the Trustees.

Resignations

Section 3. Any officer of the Trust may resign, notwithstanding Section 2 hereof, by filing a written resignation with the President, the Trustees or the Secretary, which resignation shall take effect on being so filed or at such time as may be therein specified.

ARTICLE III

POWERS AND DUTIES OF OFFICERS AND TRUSTEES

Management Of The Trust-General

Section 1. The business and affairs of the Trust shall be managed by, or under the direction of, the Trustees, and they shall have all powers necessary and desirable to carry out their responsibilities, so far as such powers are not inconsistent with the laws of the State of Delaware, the Trust Instrument or with these Bylaws.

Executive And Other Committees

Section 2. The Trustees may elect from their own number an executive committee, which shall have any or all the powers of the Trustees while the Trustees are not in session. The Trustees may also elect from their own number other committees from time to time. The number composing such committees and the powers conferred upon the same are to be determined by vote of a majority of the Trustees. All members of such committees shall hold such offices at the pleasure of the Trustees. The Trustees may abolish any such committee at any time. Any committee to which the Trustees delegate any of their powers or duties shall keep records of its meetings and shall report its actions to the Trustees. The Trustees shall have power to rescind any action of any committee, but no such rescission shall have retroactive effect.

Compensation

Section 3. Each Trustee and each committee member may receive such compensation for his services and reimbursement for his expenses as may be fixed from time to time by resolution of the Trustees.

Chairman Of The Trustees

Section 4. The Trustees shall appoint from among their number a Chairman who shall serve as such at the pleasure of the Trustees. When present, he shall preside at all meetings of the Shareholders and the Trustees, and he may, subject to the approval of the Trustees, appoint a Trustee to preside at meetings of the Trustees in his absence. He shall perform such other duties as the Trustees may from time to time designate.

President

Section 5. The President shall be the sole chief executive officer of the Trust and, subject to the direction of the Trustees, shall have general administrative responsibilities for the Trust, but shall not have responsibility for the provision of any investment advisory service or management service that is the subject of a management agreement between the Trust (or any Series within the Trust) and an adviser or sub-adviser. The President, together with the Chief Financial Officer, shall be responsible for the design, establishment, maintenance and evaluation of internal controls and certification of any reports to the extent and in the manner required under applicable laws and regulations. Except as the Trustees may otherwise order, the President shall have the power to grant, issue, execute or sign such powers of attorney, proxies, agreements or other documents as may be deemed advisable or necessary in the furtherance of the interests of the Trust or any Series thereof. He shall also have the power to employ attorneys, accountants and other advisers and agents and counsel for the Trust. The President shall perform such duties additional to all of the foregoing as the Trustees may from time to time designate.

Treasurer

Section 6. The Treasurer shall deliver all funds and securities of the Trust which may come into his hands to such company as the Trustees shall employ as Custodian in accordance with the Trust Instrument and applicable provisions of law. He shall make annual reports regarding the business and condition of the Trust, which reports shall be preserved in Trust records, and he shall furnish such other reports regarding the business and condition of the Trust as the Trustees may from time to time require. The Treasurer shall perform such additional duties as the Trustees may from time to time designate.

Chief Financial Officer

Section 7. The Chief Financial Officer, together with the President, shall be responsible for the design, establishment, maintenance and evaluation of internal controls and certification of any reports to the extent and in the manner required under applicable laws and regulations. The Chief Financial Officer shall perform such additional duties as the Trustees may from time to time designate.

Secretary

Section 8. The Secretary shall record in books kept for the purpose all votes and proceedings of the Trustees and the Shareholders at their respective meetings. He shall have the custody of the seal of the Trust. The Secretary shall perform such additional duties as the Trustees may from time to time designate.

Vice President

Section 9. Any Vice President of the Trust shall perform such duties as the Trustees or the President may from time to time designate. At the request or in the absence or disability of the President, the Vice President (or, if there are two or more Vice Presidents, then the senior of the Vice Presidents present and able to act) may perform all the duties of the President and, when so acting, shall have all the powers of and be subject to all the restrictions upon the President.

Assistant Treasurer

Section 10. Any Assistant Treasurer of the Trust shall perform such duties as the Trustees or the Treasurer may from time to time designate, and, in the absence of the Treasurer, the senior Assistant Treasurer, present and able to act, may perform all the duties of the Treasurer.

Assistant Secretary

Section 11. Any Assistant Secretary of the Trust shall perform such duties as the Trustees or the Secretary may from time to time designate, and, in the absence of the Secretary, the senior Assistant Secretary, present and able to act, may perform all the duties of the Secretary.

Subordinate Officers

Section 12. The Trustees from time to time may appoint such other officers or agents as they may deem advisable, each of whom shall have such title, hold office for such period, have such authority and perform such duties as the Trustees may determine. The Trustees from time to time may delegate to one or more officers or committees of Trustees the power to appoint any such subordinate officers or agents and to prescribe their respective terms of office, authorities and duties.

Surety Bonds

Section 13. The Trustees may require any officer or agent of the Trust to execute a bond (including, without limitation, any bond required by the Investment Company Act of 1940, as amended ("the 1940 Act") and the rules and regulations of the Securities and Exchange Commission ("Commission")) to the Trust in such sum and with such surety or sureties as the Trustees may determine, conditioned upon the faithful performance of his duties to the Trust including responsibility for negligence and for the accounting of any of the Trust's property, funds or securities that may come into his hands.

Removal

Section 14. Any officer may be removed from office whenever in the judgment of the Trustees the best interest of the Trust will be served thereby, by the vote of a majority of the Trustees given at any regular meeting or any special meeting of the Trustees. In addition, any officer or agent appointed in accordance with the provisions of Section 12 hereof may be removed, either with or without cause, by any officer upon whom such power of removal shall have been conferred by the Trustees.

Remuneration

Section 15. The salaries or other compensation, if any, of the officers of the Trust shall be fixed from time to time by resolution of the Trustees.

ARTICLE IV

SHAREHOLDERS' MEETINGS

Special Meetings

Section 1. A special meeting of the shareholders shall be called by the Secretary whenever (i) ordered by the Trustees or (ii) requested in writing by the holder or holders of at least 10% of the Outstanding Shares entitled to vote. If the Secretary, when so ordered or requested, refuses or neglects for more than 30 days to call such special meeting, the Trustees or the Shareholders so requesting, may, in the name of the Secretary, call the meeting by giving notice thereof in the manner required when notice is given by the Secretary. If the meeting is a meeting of the Shareholders of one or more Series or classes of Shares, but not a meeting of all Shareholders of the Trust, then only special meetings of the Shareholders of such one or more Series or classes shall be called and only the shareholders of such one or more Series or classes shall be entitled to notice of and to vote at such meeting.

Notices

Section 2. Except as above provided, notices of any meeting of the Shareholders shall be given by the Secretary by delivering (by electronic, telephonic, telegraphic, facsimile or computerized means or other alternative means as may be approved by resolutions adopted by the Trustees) or mailing, postage prepaid addressed to such address as may be registered with the Trust, to each Shareholder entitled to vote at said meeting, notification of such meeting at least fifteen (15) days before the meeting. Shareholders shall be provided reasonable notice of any future alternative means of notice delivery approved by resolutions adopted by the Trustees other than electronic, telephonic, telegraphic, facsimile or computerized notice. Notice of any Shareholder meeting need not be given to any Shareholder if a written waiver of notice (including, but not limited to, electronic, telegraphic, facsimile or computerized writings), executed before or after such meeting, is filed with the record of such meeting, or to any Shareholder who shall attend such meeting in person or by proxy. Notice of adjournment of a Shareholders' meeting to another time or place need not be given, if such time and place are announced at the meeting or reasonable notice is given to persons present at the meeting and the adjourned meeting is held within a reasonable time after the date set for the original meeting.

Chairman of the Meetings

Section 3. When present, the Chairman of the Trustees shall serve as Chairman of, and shall preside at, all meetings of the Shareholders. When the Chairman of the Trustees is not present, the Treasurer shall serve as Chairman of, and shall preside at, all meetings of the Shareholders, and the Treasurer may appoint another officer of the Trust to serve as Chairman of, and to preside at, such meetings in his or her absence.

Conduct of the Meetings

Section 4. The Trustees shall be entitled to make such rules and regulations for the conduct of meetings of the Shareholders as they shall deem necessary, appropriate or convenient. Subject to such rules and regulations of the Trustees, if any, the Chairman of the meeting shall have the right and authority to prescribe such rules, regulations and procedures and to do all such acts as, in the judgment of such Chairman, are necessary, appropriate or convenient for the proper conduct of the meeting, including, without limitation, establishing: an agenda or order of business for the meeting; rules and procedures for maintaining order at the meeting and the safety of those present; limitations on participation in such meeting to Shareholders of record of the Trust and their duly authorized and constituted proxies, and such other persons as the Chairman shall permit; restrictions on entry to the meeting after the time fixed for the commencement thereof; limitations on the time allotted to questions or comments by participants; and regulation of the opening and closing of the polls for balloting on matters which are to be voted on by ballot, unless and to the extent the Trustees or the Chairman of the meeting determines that meetings of Shareholders shall not be required to be held in accordance with the rules of parliamentary procedure.

Voting-Proxies

Section 5. Subject to the provisions of the Trust Instrument, Shareholders entitled to vote may vote either in person or by proxy, provided that either (i) an instrument authorizing such proxy to act is executed in writing by the Shareholder and dated not more than eleven (11) months before the meeting, unless the instrument specifically provides for a longer period or (ii) the Trustees adopt by resolution an electronic, telephonic, computerized or other alternative form of execution authorizing the proxy to act which authorization is received not more than eleven (11) months before the meeting. Proxies shall be delivered to the Secretary of the Trust or other person responsible for recording the proceedings before being voted. A proxy with respect to Shares held in the name of two or more persons shall be valid if executed by one of them unless at or prior to exercise of such proxy the Trust receives a specific written notice to the contrary from any one of them. Unless otherwise specifically limited by their terms, proxies shall entitle the holder thereof to vote at any adjournment of a meeting. A proxy purporting to be exercised by or on behalf of a Shareholder shall be deemed valid unless challenged at or prior to its exercise and the burden or proving invalidity shall rest on the challenger. At all meetings of the Shareholders, unless the voting is conducted by inspectors, all questions relating to the qualifications of voters, the validity of proxies, and the acceptance or rejection of votes shall be decided by the Chairman of the meeting. Except as otherwise provided herein or in the Trust Instrument, as these Bylaws or such Trust Instrument may be amended or supplemented from time to time, all matters relating to the giving, voting or validity of proxies shall be governed by the General Corporation Law of the State of Delaware relating to proxies, and judicial interpretations thereunder, as if the Trust were a Delaware corporation and the Shareholders were shareholders of a Delaware corporation.

Place Of Meeting

Section 6. All special meetings of the Shareholders shall be held at the principal place of business of the Trust or at such other place in the United States as the Trustees may designate.

Action Without a Meeting

Section 7. Any action to be taken by Shareholders may be taken without a meeting if all Shareholders entitled to vote on the matter consent to the action in writing and the written consents are filed with the records of meetings of Shareholders of the Trust. Such consent shall be treated for all purposes as a vote at a meeting of the Shareholders held at the principal place of business of the Trust.

ARTICLE V

TRUSTEES' MEETINGS

Special Meetings

Section 1. Special meetings of the Trustees may be called orally or in writing by the Chairman of the Board of Trustees or any two other Trustees.

Regular Meetings

Section 2. Regular meetings of the Trustees may be held at such places and at such times as the Trustees may from time to time determine; each Trustee present at such determination shall be deemed a party calling the meeting and no call or notice will be required to such Trustee provided that any Trustee who is absent when such determination is made shall be given notice of the determination by the Chairman or any two other Trustees, as provided for in the Trust Instrument.

Quorum

Section 3. A majority of the Trustees shall constitute a quorum for the transaction of business and an action of a majority of the quorum shall constitute action of the Trustees. If at any meeting of the Trustees there shall be less than a quorum present, a majority of the Trustees present may adjourn the meeting from time to time until a quorum shall be obtained. Notice of an adjourned meeting need not be given.

Notice

Section 4. Except as otherwise provided, notice of any special meeting of the Trustees shall be given by the party calling the meeting to each Trustee, as provided for in the Trust Instrument. A written notice may be mailed, postage prepaid, addressed to him at his address as registered on the books of the Trust or, if not so registered, at his last known address.

Place Of Meeting

Section 5. All special meetings of the Trustees shall be held at the principal place of business of the Trust or such other place as the Trustees may designate. Any meeting may adjourn to any place.

Special Action

Section 6. When all the Trustees shall be present at any meeting, however called or wherever held, or shall assent to the holding of the meeting without notice, or shall sign a written assent thereto filed with the record of such meeting, the acts of such meeting shall be valid as if such meeting had been regularly held.

Action By Consent

Section 7. Any action by the Trustees may be taken without a meeting if a written consent thereto is signed by all the Trustees and filed with the records of the Trustees' meeting. Such consent shall be treated, for all purposes, as a vote at a meeting of the Trustees held at the principal place of business of the Trustees.

Participation in Meetings By Conference Telephone

Section 8. Trustees may participate in a meeting of Trustees by conference telephone or similar communications equipment by means of which all persons participating in the meeting can hear each other, and such participation shall constitute presence in person at such meeting. Any meeting conducted by telephone shall be deemed to take place at and from the principal office of the Trust.

ARTICLE VI

SHARES OF BENEFICIAL INTEREST

Beneficial Interest

Section 1. The beneficial interest in the Trust shall at all times be divided into such transferable Shares of one or more separate and distinct Series, or classes thereof, as the Trustees shall from time to time create and establish. The number of Shares is unlimited, and each Share of each Series or class thereof shall be without par value and shall represent an equal proportionate interest with each other Share in the Series, none having priority or preference over another, except to the extent that such priorities or preferences are established with respect to one or more classes of shares consistent with applicable law and any rule or order of the Commission.

Transfer of Shares

Section 2. The Shares of the Trust shall be transferable, so as to affect the rights of the Trust, only by transfer recorded on the books of the Trust, in person or by attorney.

Equitable Interest Not Recognized

Section 3. The Trust shall be entitled to treat the holder of record of any Share or Shares of beneficial interest as the holder in fact thereof, and shall not be bound to recognize any equitable or other claim or interest in such Share or Shares on the part of any other person except as may be otherwise expressly provided by law.

Share Certificate

Section 4. No certificates certifying the ownership of Shares shall be issued except as the Trustees may otherwise authorize. The Trustees may issue certificates to a Shareholder of any Series or class thereof for any purpose and the issuance of a certificate to one or more Shareholders shall not require the issuance of certificates generally. In the event that the Trustees authorize the issuance of Share certificates, such certificate shall be in the form proscribed from time to time by the Trustees and shall be signed by the President or a Vice President and by the Treasurer, Assistant Treasurer, Secretary or Assistant Secretary. Such signatures may be facsimiles if the certificate is signed by a transfer or shareholder services agent or by a registrar, other than a Trustee, officer or employee of the Trust. In case any officer who has signed or whose facsimile signature has been placed on such certificate shall have ceased to be such officer before such certificate is issued, it may be issued by the Trust with the same effect as if he or she were such officer at the time of its issue.

In lieu of issuing certificates for Shares, the Trustees or the transfer or shareholder services agent may either issue receipts therefor or may keep accounts upon the books of the Trust for the record holders of such Shares, who shall in either case be deemed, for all purposes hereunder, to be the holders of certificates for such Shares as if they had accepted such certificates and shall be held to have expressly assented and agreed to the terms hereof.

Loss of Certificate

Section 5. In the case of the alleged loss or destruction or the mutilation of a Share certificate, a duplicate certificate may be issued in place thereof, upon such terms as the Trustees may prescribe.

Discontinuance of Issuance Of Certificates

Section 6. The Trustees may at any time discontinue the issuance of Share certificates and may, by written notice to each Shareholder, require the surrender of Share certificates to the Trust for cancellation. Such surrender and cancellation shall not affect the ownership or transferability of Shares in the Trust.

ARTICLE VII

OWNERSHIP OF ASSETS OF THE TRUST

The Trustees, acting for and on behalf of the Trust, shall be deemed to hold legal and beneficial ownership of any income earned on securities held by the Trust issued by any business entity formed, organized or existing under the laws of any jurisdiction other than a state, commonwealth, possession or colony of the United States or the laws of the United States.

ARTICLE VIII

INSPECTION OF BOOKS

The Trustees shall from time to time determine whether and to what extent, and at what times and places, and under what conditions and regulations the accounts, books, documents, and other information of the Trust or any of the foregoing shall be open to the inspection of the Shareholders. Notwithstanding any inspection right that would otherwise be available under Section 3819(a)(1)-(4) of the Delaware Act to the contrary, no Shareholder shall have any right to inspect any account, book, document, or other information of the Trust except as determined by the Trustees pursuant to the preceding sentence or to the extent, if any, required by Section 7.02 of the Trust Instrument.

ARTICLE IX

INSURANCE OF OFFICERS, TRUSTEES, AND EMPLOYEES

The Trust may purchase and maintain insurance on behalf of any Covered Person or employee of the Trust, including any Covered Person or employee of the Trust who is or was serving at the request of the Trust as a Trustee, officer or employee of a corporation, partnership, joint venture, trust or other enterprise against any liability asserted against him and incurred by him in any such capacity or arising out of his status as such, whether or not the Trustees would have the power to indemnify him against such liability.

The Trust may not acquire or obtain a contract for insurance that protects or purports to protect any Trustee or officer of the Trust against any liability to the Trust or its Shareholders to which he would otherwise be subject by reason or willful misfeasance, bad faith, gross negligence, or reckless disregard of the duties involved in the conduct of his office.

ARTICLE X

SEAL

The seal of the Trust shall be circular in form and bear the name of the trust and the year of its organization. The form of the seal shall be subject to alteration by the Trustees and the seal may be used by causing it or a facsimile to be impressed or affixed or printed or otherwise reproduced.

Any officer or Trustee of the Trust shall have authority to affix the seal of the Trust to any document, instrument or other paper executed and delivered by or on behalf of the Trust; however, unless otherwise required by the Trustees, the seal shall not be necessary to be placed on and its absence shall not impair the validity of any document, instrument, or other paper executed by or on behalf of the Trust.

ARTICLE XI

FISCAL YEAR

The fiscal year of each Series of the Trust shall end on such date as the Trustees shall from time to time determine.

ARTICLE XII

AMENDMENTS

These Bylaws may be amended at any meeting of the Trustees of the Trust by a majority vote.

ARTICLE XIII

REPORTS TO SHAREHOLDERS

The Trustees shall at least semi-annually submit to the Shareholders a written financial report of the Trust including financial statements which shall be certified at least annually by independent public accountants.

XIV

HEADINGS

Headings are placed in these Bylaws for convenience of reference only and in case of any conflict, the text of these Bylaws rather than the headings shall control.

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