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Semiannual Report
November 30, 2000
1.743118.101
(Unaudited)
Showing Percentage of Net Assets
Federal Agencies - 20.5% |
||||
Due Date |
Annualized Yield at Time of Purchase |
Principal |
Value |
|
Fannie Mae - 12.4% |
||||
Discount Notes - 12.4% |
||||
12/14/00 |
6.50% |
$ 377,204,000 |
$ 376,330,878 |
|
12/21/00 |
6.50 |
496,863,000 |
495,094,996 |
|
12/28/00 |
6.51 |
170,000,000 |
169,184,000 |
|
1/26/01 |
6.52 |
1,000,000,000 |
989,966,667 |
|
2/15/01 |
6.52 |
225,264,000 |
222,206,166 |
|
2/22/01 |
6.50 |
442,056,000 |
435,533,218 |
|
2/22/01 |
6.52 |
1,770,075,000 |
1,743,915,750 |
|
3/19/01 |
6.54 |
200,000,000 |
196,190,000 |
|
3/28/01 |
6.50 |
500,000,000 |
489,665,000 |
|
|
5,118,086,675 |
|||
Federal Home Loan Bank - 3.7% |
||||
Discount Notes - 3.7% |
||||
12/27/00 |
6.49 |
475,000,000 |
472,807,875 |
|
1/10/01 |
6.52 |
500,000,000 |
496,436,111 |
|
1/31/01 |
6.55 |
250,000,000 |
247,271,944 |
|
2/28/01 |
6.49 |
312,400,000 |
307,464,861 |
|
|
1,523,980,791 |
|||
Freddie Mac - 4.4% |
||||
Discount Notes - 4.4% |
||||
12/21/00 |
6.50 |
181,500,000 |
180,854,163 |
|
2/22/01 |
6.52 |
992,900,000 |
978,226,317 |
|
3/1/01 |
6.51 |
500,000,000 |
492,000,000 |
|
10/11/01 |
6.52 |
150,000,000 |
141,993,000 |
|
|
1,793,073,480 |
|||
TOTAL FEDERAL AGENCIES |
8,435,140,946 |
|||
U.S. Treasury Obligations - 29.9% |
||||
|
||||
U.S. Treasury Bills - 26.6% |
||||
12/15/00 |
6.43 |
500,000,000 |
498,752,639 |
|
12/15/00 |
6.47 |
1,480,000,000 |
1,476,285,200 |
|
12/18/00 |
6.41 |
2,300,000,000 |
2,293,076,042 |
|
U.S. Treasury Obligations - continued |
||||
Due Date |
Annualized Yield at Time of Purchase |
Principal |
Value |
|
U.S. Treasury Bills - continued |
||||
12/18/00 |
6.44% |
$ 1,000,000,000 |
$ 996,977,778 |
|
12/21/00 |
6.44 |
3,187,000,000 |
3,175,703,854 |
|
1/25/01 |
6.27 |
500,000,000 |
495,279,167 |
|
2/1/01 |
6.26 |
315,000,000 |
311,655,488 |
|
2/1/01 |
6.29 |
250,000,000 |
247,375,764 |
|
2/1/01 |
6.31 |
600,000,000 |
593,572,667 |
|
2/8/01 |
6.32 |
65,000,000 |
64,225,092 |
|
2/22/01 |
6.29 |
100,000,000 |
98,593,611 |
|
5/10/01 |
6.29 |
500,000,000 |
486,444,444 |
|
5/17/01 |
6.26 |
260,000,000 |
252,678,906 |
|
|
10,990,620,652 |
|||
U.S. Treasury Notes - 1.1% |
||||
1/31/01 |
6.29 |
100,000,000 |
99,700,980 |
|
1/31/01 |
6.61 |
150,000,000 |
149,445,858 |
|
2/28/01 |
6.30 |
135,000,000 |
134,554,001 |
|
6/30/01 |
6.37 |
25,000,000 |
24,898,117 |
|
7/31/01 |
6.25 |
50,000,000 |
49,728,875 |
|
|
458,327,831 |
|||
U.S. Treasury Notes - Principal Strips - 2.2% |
||||
2/15/01 |
6.29 |
24,000,000 |
23,686,569 |
|
2/15/01 |
6.30 |
24,000,000 |
23,686,082 |
|
2/15/01 |
6.50 |
50,000,000 |
49,348,890 |
|
2/15/01 |
6.71 |
123,472,000 |
121,800,030 |
|
5/15/01 |
6.43 |
100,000,000 |
97,206,313 |
|
8/15/01 |
6.31 |
50,000,000 |
47,857,054 |
|
8/15/01 |
6.37 |
237,800,000 |
227,515,967 |
|
9/30/01 |
6.53 |
324,200,000 |
307,360,527 |
|
|
898,461,432 |
|||
TOTAL U.S. TREASURY OBLIGATIONS |
12,347,409,915 |
Repurchase Agreements - 53.7% |
|||
Maturity |
Value |
||
In a joint trading account (U.S. Government Obligation) dated 11/30/00 |
$ 9,350,915,154 |
$ 9,349,213,000 |
|
In a joint trading account (U.S. Treasury |
|
|
|
9/20/00 due 3/12/01 At 6.45% |
103,099,583 |
100,000,000 |
|
11/30/00 due 12/1/00 At 6.5% |
12,700,387,560 |
12,698,095,000 |
|
TOTAL REPURCHASE AGREEMENTS |
22,147,308,000 |
||
TOTAL INVESTMENT PORTFOLIO - 104.1% |
42,929,858,861 |
||
NET OTHER ASSETS - (4.1)% |
(1,681,689,213) |
||
NET ASSETS - 100% |
$ 41,248,169,648 |
Total Cost for Income Tax Purposes $ 42,929,858,861 |
Income Tax Information |
At May 31, 2000, the fund had a capital loss carryforward of approximately $1,833,000 all of which will expire on May 31, 2008. |
See accompanying notes which are an integral part of the financial statements.
Semiannual Report
Statement of Assets and Liabilities
|
November 30, 2000 (Unaudited) |
|
Assets |
|
|
Investment in securities, at value (including |
|
$ 42,929,858,861 |
Receivable for investments sold |
|
498,503,056 |
Interest receivable |
|
12,253,130 |
Prepaid expenses |
|
10,622 |
Total assets |
|
43,440,625,669 |
Liabilities |
|
|
Payable to custodian bank |
$ 650 |
|
Payable for investments purchased |
1,975,037,839 |
|
Distributions payable |
217,384,350 |
|
Other payables and accrued expenses |
33,182 |
|
Total liabilities |
|
2,192,456,021 |
Net Assets |
|
$ 41,248,169,648 |
Net Assets consist of: |
|
|
Paid in capital |
|
$ 41,245,739,245 |
Accumulated net realized gain (loss) on investments |
|
2,430,403 |
Net Assets, for 41,243,804,820 shares outstanding |
|
$ 41,248,169,648 |
Net Asset Value, offering price and redemption price per share ($41,248,169,648 ÷ 41,243,804,820 shares) |
|
$1.00 |
See accompanying notes which are an integral part of the financial statements.
Semiannual Report
Financial Statements - continued
Statement of Operations
|
Six months ended November 30, 2000 (Unaudited) |
|
Investment Income Interest |
|
$ 946,954,402 |
Expenses |
|
|
Non-interested trustees' compensation |
$ 45,501 |
|
Custodian fees and expenses |
51,714 |
|
Audit |
9,794 |
|
Legal |
5,739 |
|
Insurance |
91,366 |
|
Total expenses |
|
204,114 |
Net investment income |
|
946,750,288 |
Net Realized Gain (Loss) on Investments |
|
1,360,809 |
Net increase in net assets resulting from operations |
|
$ 948,111,097 |
See accompanying notes which are an integral part of the financial statements.
Semiannual Report
Financial Statements - continued
Statement of Changes in Net Assets
|
Six months ended November 30, 2000 (Unaudited) |
Year ended 2000 |
Increase (Decrease) in Net Assets |
|
|
Operations |
$ 946,750,288 |
$ 1,230,635,347 |
Net realized gain (loss) |
1,360,809 |
(1,562,077) |
Net increase (decrease) in net assets resulting |
948,111,097 |
1,229,073,270 |
Distributions to shareholders from |
(946,750,288) |
(1,230,635,347) |
Share transactions at net asset value of $1.00 per share Proceeds from sales of shares |
109,061,868,634 |
166,180,212,247 |
Cost of shares redeemed |
(91,702,002,824) |
(164,377,383,075) |
Net increase (decrease) in net assets and shares resulting from share transactions |
17,359,865,810 |
1,802,829,172 |
Total increase (decrease) in net assets |
17,361,226,619 |
1,801,267,095 |
Net Assets |
|
|
Beginning of period |
23,886,943,029 |
22,085,675,934 |
End of period |
$ 41,248,169,648 |
$ 23,886,943,029 |
See accompanying notes which are an integral part of the financial statements.
Semiannual Report
Financial Highlights
|
Six months ended November 30, 2000 |
Years ended May 31, |
|||
|
(Unaudited) |
2000 |
1999 |
1998 |
1997 C |
Selected Per-Share Data |
|
|
|
|
|
Net asset value, beginning |
$ 1.000 |
$ 1.000 |
$ 1.000 |
$ 1.000 |
$ 1.000 |
Income from Investment Operations |
.033 |
.054 |
.051 |
.056 |
.033 |
Less Distributions |
|
|
|
|
|
From net investment income |
(.033) |
(.054) |
(.051) |
(.056) |
(.033) |
Net asset value, end of period |
$ 1.000 |
$ 1.000 |
$ 1.000 |
$ 1.000 |
$ 1.000 |
Total Return B |
3.33% |
5.50% |
5.19% |
5.74% |
3.35% |
Ratios and Supplemental Data |
|
|
|
|
|
Net assets, end |
$ 41,248,170 |
$ 23,886,943 |
$ 22,085,676 |
$ 16,010,161 |
$ 17,438,066 |
Ratio of expenses to average net assets |
.0014% A |
.0017% |
.0016% |
.0016% |
.0008% A |
Ratio of net invest- |
6.57% A |
5.38% |
5.04% |
5.58% |
5.45% A |
A Annualized
B Total returns for periods of less than one year are not annualized.
C For the period October 21, 1996 (commencement of operations) to May 31, 1997.
See accompanying notes which are an integral part of the financial statements.
Semiannual Report
For the period ended November 30, 2000 (Unaudited)
1. Significant Accounting Policies.
Fidelity Cash Central Fund (the fund) (formerly Taxable Central Cash Fund) is a fund of Fidelity Revere Street Trust (the trust) and is authorized to issue an unlimited number of shares. The trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Delaware business trust. Shares of the fund are only offered to other investment companies and accounts (the investing funds) managed by Fidelity Management & Research Company (FMR), or its affiliates. The financial statements have been prepared in conformity with generally accepted accounting principles which require management to make certain estimates and assumptions at the date of the financial statements. The following summarizes the significant accounting policies of the fund:
Security Valuation. As permitted under Rule 2a-7 of the 1940 Act, and certain conditions therein, securities are valued initially at cost and thereafter assume a constant amortization to maturity of any discount or premium.
Income Taxes. As a qualified regulated investment company under Subchapter M of the Internal Revenue Code, the fund is not subject to income taxes to the extent that it distributes substantially all of its taxable income for its fiscal year. The schedule of investments includes information regarding income taxes under the caption "Income Tax Information."
Investment Income. Interest income, which includes amortization of premium and accretion of discount, is accrued as earned.
Expenses. Most expenses of the trust can be directly attributed to a fund. Expenses which cannot be directly attributed are apportioned among the funds in the trust.
Distributions to Shareholders. Dividends are declared daily and paid monthly from net investment income.
Security Transactions. Security transactions are accounted for as of trade date. Gains and losses on securities sold are determined on the basis of identified cost.
2. Operating Policies.
Joint Trading Account. Pursuant to an Exemptive Order issued by the Securities and Exchange Commission (the SEC), the fund, along with other affiliated entities of FMR, may transfer uninvested cash balances into one or more joint trading accounts. These balances are invested in one or more repurchase agreements for U.S. Treasury or Federal Agency obligations.
Repurchase Agreements. The underlying U.S. Treasury, Federal Agency, or other obligations found to be satisfactory by Fidelity Investments Money Management, Inc. (FIMM) are transferred to an account of the fund, or to the Joint Trading Account, at a custodian bank. The securities are marked-to-market daily and maintained at a value at least equal to the principal amount of the repurchase agreement (including accrued interest). FIMM, the fund's investment adviser, is responsible
Semiannual Report
Notes to Financial Statements (Unaudited) - continued
2. Operating Policies - continued
Repurchase Agreements - continued
for determining that the value of the underlying securities remains in accordance with the market value requirements stated above.
Interfund Lending Program. Pursuant to an Exemptive Order issued by the SEC, the fund, along with other registered investment companies having management contracts with FMR, may participate in an interfund lending program. This program
provides an alternative credit facility allowing the fund to borrow from, or lend money to, other participating funds.
3. Joint Trading Account.
At the end of the period, the fund had 20% or more of its total investments in repurchase agreements through a joint trading account. These repurchase agreements were with entities whose creditworthiness has been reviewed and found satisfactory by FIMM. The investments in repurchase agreements through the joint trading account are summarized as follows:
Summary of Joint Trading
Dated September 20, 2000, due March 12, 2001 |
6.45% |
Number of dealers or banks |
1 |
Maximum amount with one dealer or bank |
100% |
Aggregate principal amount of agreements |
$350,000,000 |
Aggregate maturity amount of agreements |
$360,848,542 |
Aggregate market value of transferred assets |
$361,544,164 |
Coupon rates of transferred assets |
5.5% to 14% |
Maturity dates of transferred assets |
8/15/03 to 5/15/30 |
Dated November 30, 2000, due December 1, 2000 |
6.5% |
Number of dealers or banks |
9 |
Maximum amount with one dealer or bank |
28.5% |
Aggregate principal amount of agreements |
$13,801,249,000 |
Aggregate maturity amount of agreements |
$13,803,740,728 |
Aggregate market value of transferred assets |
$14,125,312,532 |
Coupon rates of transferred assets |
0% to 13.38% |
Maturity dates of transferred assets |
12/31/00 to 5/15/30 |
Semiannual Report
Notes to Financial Statements (Unaudited) - continued
3. Joint Trading Account - continued
Summary of Joint Trading - continued
Dated November 30, 2000, due December 1, 2000 |
6.55% |
Number of dealers or banks |
18 |
Number of dealers or banks |
18 |
Maximum amount with one dealer or bank |
13.3% |
Aggregate principal amount of agreements |
$15,021,000,000 |
Aggregate maturity amount of agreements |
$15,023,734,782 |
Aggregate market value of transferred assets |
$15,377,822,738 |
Coupon rates of transferred assets |
0% to 14.5% |
Maturity dates of transferred assets |
12/1/00 to 10/1/40 |
4. Fees and Other Transactions with Affiliates.
Management Fee. As the fund's investment adviser, FIMM, a wholly owned subsidiary of FMR, receives a monthly management fee from FMR. This fee is based on the management fee FMR receives from the investing funds, and a percentage of the average net assets invested by the investing funds in the fund.
Fidelity Investments Institutional Operations Company, Inc. (FIIOC), an affiliate of FMR, is the fund's transfer, dividend disbursing and shareholder servicing agent. FIIOC does not receive any fees for its transfer agency services. Fidelity Service Company, Inc., also an affiliate of FMR, maintains the fund's accounting records. Pursuant to its management contract with the fund, FIMM pays the fees associated with the fund's accounting functions.
Money Market Insurance. Pursuant to an Exemptive Order issued by the SEC, the fund, along with other money market funds advised by FMR or its affiliates, has entered into insurance agreements with FIDFUNDS Mutual Limited (FIDFUNDS), an affiliated mutual insurance company. FIDFUNDS provides limited coverage for certain loss events including issuer default as to payment of principal or interest and bankruptcy or insolvency of a credit enhancement provider. The insurance does not cover losses resulting from changes in interest rates, ratings downgrades or other market conditions. The fund may be subject to a special assessment of up to approximately 2.5 times the fund's annual gross premium if covered losses exceed certain levels. During the period, the fund paid premiums of $127,459 for the calendar year 2000 to FIDFUNDS, which are being amortized over one year.
5. Interfund Lending Program.
The fund participated in the interfund lending program as a lender. The average daily loan balance during the period for which loans were outstanding amounted to $27,271,707. The weighted average
Semiannual Report
Notes to Financial Statements (Unaudited) - continued
5. Interfund Lending Program - continued
interest rate was 6.64%. Interest earned from the interfund lending program amounted to $206,420 and is included in interest income on the Statement of Operations. At period end there were no interfund loans outstanding.
6. Beneficial Interest.
At the end of the period, all of the outstanding shares of the fund were held by mutual funds managed by FMR or an affiliate.
Semiannual Report
A special meeting of the fund's shareholders was held on December 13, 2000. The results of votes taken among shareholders on proposals before them are reported below. Each vote reported represents one dollar of net asset value held on the record date for the meeting.
PROPOSAL 1
To elect as Trustees the following twelve nominees.*
|
# of |
% of |
J. Michael Cook |
||
Affirmative |
34,936,748,947.94 |
100.000 |
Withheld |
0.00 |
0.000 |
TOTAL |
34,936,748,947.94 |
100.000 |
Ralph F. Cox |
||
Affirmative |
34,936,748,947.94 |
100.000 |
Withheld |
0.00 |
0.000 |
TOTAL |
34,936,748,947.94 |
100.000 |
Phyllis Burke Davis |
||
Affirmative |
34,936,748,947.94 |
100.000 |
Withheld |
0.00 |
0.000 |
TOTAL |
34,936,748,947.94 |
100.000 |
Robert M. Gates |
||
Affirmative |
34,936,748,947.94 |
100.000 |
Withheld |
0.00 |
0.000 |
TOTAL |
34,936,748,947.94 |
100.000 |
Edward C. Johnson 3d |
||
Affirmative |
34,936,748,947.94 |
100.000 |
Withheld |
0.00 |
0.000 |
TOTAL |
34,936,748,947.94 |
100.000 |
Donald J. Kirk |
||
Affirmative |
34,936,748,947.94 |
100.000 |
Withheld |
0.00 |
0.000 |
TOTAL |
34,936,748,947.94 |
100.000 |
|
# of |
% of |
Marie L. Knowles |
||
Affirmative |
34,936,748,947.94 |
100.000 |
Withheld |
0.00 |
0.000 |
TOTAL |
34,936,748,947.94 |
100.000 |
Ned C. Lautenbach |
||
Affirmative |
34,936,748,947.94 |
100.000 |
Withheld |
0.00 |
0.000 |
TOTAL |
34,936,748,947.94 |
100.000 |
Peter S. Lynch |
||
Affirmative |
34,936,748,947.94 |
100.000 |
Withheld |
0.00 |
0.000 |
TOTAL |
34,936,748,947.94 |
100.000 |
William O. McCoy |
||
Affirmative |
34,936,748,947.94 |
100.000 |
Withheld |
0.00 |
0.000 |
TOTAL |
34,936,748,947.94 |
100.000 |
Marvin L. Mann |
||
Affirmative |
34,936,748,947.94 |
100.000 |
Withheld |
0.00 |
0.000 |
TOTAL |
34,936,748,947.94 |
100.000 |
Robert C. Pozen |
||
Affirmative |
34,936,748,947.94 |
100.000 |
Withheld |
0.00 |
0.000 |
TOTAL |
34,936,748,947.94 |
100.000 |
PROPOSAL 2 |
||
To ratify the selection of PricewaterhouseCoopers LLP as independent accountants of the fund. |
||
|
# of |
% of |
Affirmative |
29,665,911,034.71 |
100.000 |
Against |
0.00 |
0.000 |
Abstain |
0.00 |
0.000 |
TOTAL |
29,665,911,034.71 |
100.000 |
PROPOSAL 3 |
||
To continue the effectiveness of Article VII, Section 7.04 of the Trust Instrument.* |
||
|
# of |
% of |
Affirmative |
34,936,748,947.94 |
100.000 |
Against |
0.00 |
0.000 |
Abstain |
0.00 |
0.000 |
TOTAL |
34,936,748,947.94 |
100.000 |
PROPOSAL 4 |
||
To authorize the Trustees to adopt an Amended and Restated Trust Instrument.* |
||
|
# of |
% of |
Affirmative |
34,936,748,947.94 |
100.000 |
Against |
0.00 |
0.000 |
Abstain |
0.00 |
0.000 |
TOTAL |
34,936,748,947.94 |
100.000 |
PROPOSAL 5 |
||
To approve an amended management contract that would allow future modifications of the contract without a shareholder vote if permitted by the 1940 Act. |
||
|
# of |
% of |
Affirmative |
29,665,911,034.71 |
100.000 |
Against |
0.00 |
0.000 |
Abstain |
0.00 |
0.000 |
TOTAL |
29,665,911,034.71 |
100.000 |
PROPOSAL 7 |
||
To amend the fundamental investment limitation concerning diversification. |
||
|
# of |
% of |
Affirmative |
29,665,911,034.71 |
100.000 |
Against |
0.00 |
0.000 |
Abstain |
0.00 |
0.000 |
TOTAL |
29,665,911,034.71 |
100.000 |
PROPOSAL 8 |
||
To amend the fundamental investment limitation concerning underwriting. |
||
|
# of |
% of |
Affirmative |
29,665,911,034.71 |
100.000 |
Against |
0.00 |
0.000 |
Abstain |
0.00 |
0.000 |
TOTAL |
29,665,911,034.71 |
100.000 |
*Denotes trust-wide proposals and voting results.
Semiannual Report
Semiannual Report
November 30, 2000
1.743117.101
(Unaudited)
Showing Percentage of Net Assets
Municipal Securities - 100.5% |
|||
Principal Amount |
Value |
||
Alabama - 0.7% |
|||
Alabama Pub. School & College Auth. Rev. Participating VRDN Series ROC 00 1, 4.22% (Liquidity Facility Salomon Smith Barney Hldgs., Inc.) (a)(c) |
$ 6,100,000 |
$ 6,100,000 |
|
Columbia Ind. Dev. Board Poll. Cont. Rev. (Alabama Pwr. Co. Proj.) Series 1999 C, 4.3%, VRDN (a) |
3,200,000 |
3,200,000 |
|
|
9,300,000 |
||
Alaska - 0.1% |
|||
Alaska Hsg. Fin. Corp. Participating VRDN Series Merlots 99 D, 4.29% (Liquidity Facility First Union Nat'l. Bank, North Carolina) (a)(c) |
2,000,000 |
2,000,000 |
|
Arizona - 1.3% |
|||
Arizona Health Facilities Auth. Rev. (Arizona Health Care Pooled Fing. Prog.) Series 2000 A, 4.2%, VRDN (a) |
6,800,000 |
6,800,000 |
|
Coconino County Ind. Dev. Rev. (Citizens Utils. Co. Proj.) Series 1997, 5.25%, VRDN (a)(b) |
2,550,000 |
2,550,000 |
|
Mohave County Ind. Dev. Auth. Ind. Dev. Rev. Bonds |
2,000,000 |
2,000,000 |
|
Navajo County Ind. Dev. Auth. Ind. Rev. (Citizens Utils. Co. Proj.) Series 1997 B, 5.25%, VRDN (a)(b) |
6,685,000 |
6,685,000 |
|
|
18,035,000 |
||
Arkansas - 1.7% |
|||
Arkansas Dev. Fin. Auth. Participating VRDN Series BA 98 C, 4.45% (Liquidity Facility Bank of America NA) (a)(b)(c) |
905,000 |
905,000 |
|
Arkansas Dev. Fin. Auth. Multi-family Hsg. Rev. (Kiehl Partners LP Proj.) Series 1998, 4.35%, LOC Bank One, Louisiana NA, VRDN (a)(b) |
1,000,000 |
1,000,000 |
|
Arkansas Hosp. Equip. Fin. Auth. (Baptist Health Proj.) |
14,550,000 |
14,550,000 |
|
Crossett Poll. Cont. Rev. (Georgia-Pacific Corp. Proj.) 4.3%, LOC Suntrust Bank, VRDN (a) |
6,500,000 |
6,500,000 |
|
|
22,955,000 |
||
Colorado - 5.6% |
|||
Colorado Health Facilities Auth. Rev. (Boulder Cmnty. Hosp. Proj.) Series 2000, 4.05%, LOC Bank One, Colorado NA, VRDN (a) |
10,100,000 |
10,100,000 |
|
Colorado Student Oblig. Auth. (Student Ln. Prog.) |
6,300,000 |
6,300,000 |
|
Denver City & County Arpt. Rev.: |
|
|
|
Participating VRDN Series FRRI L27, 4.4% (Liquidity Facility Lehman Brothers, Inc.) (a)(b)(c) |
9,500,000 |
9,500,000 |
|
Municipal Securities - continued |
|||
Principal Amount |
Value |
||
Colorado - continued |
|||
Denver City & County Arpt. Rev.: - continued |
|
|
|
Series 2000 B, 4.3% (MBIA Insured), VRDN (a)(b) |
$ 42,700,000 |
$ 42,700,000 |
|
Series 2000 C, 4.25% (MBIA Insured), VRDN (a)(b) |
2,600,000 |
2,600,000 |
|
Denver City & County Spl. Facilites Arpt. Rev. (Worldport at DIA Proj.) Series A, 4.3%, LOC Morgan Guaranty Trust Co., NY, VRDN (a)(b) |
6,200,000 |
6,200,000 |
|
|
77,400,000 |
||
Delaware - 3.3% |
|||
Delaware Econ. Dev. Auth. Rev. (Delmarva Pwr. & Lt. Co. Proj.): |
|
|
|
Series 1987, 4.3%, VRDN (a)(b) |
5,900,000 |
5,900,000 |
|
Series 1988, 4.3%, VRDN (a)(b) |
12,800,000 |
12,800,000 |
|
Series 1994, 4.3%, VRDN (a)(b) |
26,300,000 |
26,300,000 |
|
|
45,000,000 |
||
District of Columbia - 0.4% |
|||
District of Columbia Gen. Oblig. Participating VRDN Series PA 568, 4.22% (Liquidity Facility Merrill Lynch & Co., Inc.) (a)(c) |
4,165,000 |
4,165,000 |
|
District of Columbia Hsg. Fin. Agcy. Single Family Mtg. Rev. Participating VRDN Series RF 00 4, 4.37% (Liquidity Facility Bank of New York NA) (a)(b)(c) |
2,000,000 |
2,000,000 |
|
|
6,165,000 |
||
Florida - 2.9% |
|||
Broward County Port Facilities Rev. (Port Everglades Proj.) Series 1998, 4.1% (AMBAC Insured) (BPA Bank of Nova Scotia), VRDN (a)(b) |
2,200,000 |
2,200,000 |
|
Clay County Hsg. Fin. Auth. Rev. Participating VRDN |
4,125,000 |
4,125,000 |
|
Escambia County Hsg. Fin. Rev. Participating VRDN |
2,400,000 |
2,400,000 |
|
Florida Board of Ed. Cap. Outlay Participating VRDN |
5,000,000 |
5,000,000 |
|
Florida Hsg. Fin. Agcy. Multi-family Hsg. Rev. (Banyan Bay Apts. Proj.) 4.1%, LOC Fannie Mae, VRDN (a)(b) |
5,275,000 |
5,275,000 |
|
Florida Hsg. Fin. Corp. Rev. (Riverside Apts. Proj.) Series 2000 1, 4.2%, LOC Bank of America NA, VRDN (a)(b) |
4,100,000 |
4,100,000 |
|
Jacksonville Elec. Auth. Rev. Participating VRDN |
4,800,000 |
4,800,000 |
|
Municipal Securities - continued |
|||
Principal Amount |
Value |
||
Florida - continued |
|||
Lakeland Elec. & Wtr. Participating VRDN Series 960901, 4.29% (Liquidity Facility Citibank NA, New York) (a)(c) |
$ 6,930,000 |
$ 6,930,000 |
|
Orange County Health Facilities Auth. Rev. (Florida Hosp. Assoc. Health Proj.) Series 2000 A, 4.2%, VRDN (a) |
3,000,000 |
3,000,000 |
|
Sarasota Edl. Facilities Rev. (Ringling School of Art Proj.) Series 2000, 4.2%, LOC Suntrust Bank, VRDN (a) |
2,300,000 |
2,300,000 |
|
|
40,130,000 |
||
Georgia - 6.3% |
|||
Albany Dougherty Payroll Dev. Auth. Poll. Cont. Rev. (Philip Morris Co. Proj.) 4.27%, VRDN (a) |
3,200,000 |
3,200,000 |
|
Atlanta Arpt. Rev. Participating VRDN: |
|
|
|
Series PA 677R, 4.22% (Liquidity Facility Merrill Lynch & Co., Inc.) (a)(c) |
1,800,000 |
1,800,000 |
|
Series SG 138, 4.22% (Liquidity Facility Societe Generale) (a)(c) |
2,800,000 |
2,800,000 |
|
Bartow County Dev. Auth. Poll. Cont. Rev. (Georgia Pwr. Co. Proj.) Second Series 1998, 4.65%, VRDN (a)(b) |
3,300,000 |
3,300,000 |
|
Bibb County Gen. Oblig. Participating VRDN Series CDC 00 A, 4.27% (Liquidity Facility Caisse des Depots et Consignations) (a)(c) |
8,760,000 |
8,760,000 |
|
Burke County Ind. Dev. Auth. Poll. Cont. Rev. (Georgia Pwr. Co. Plant Vogtle Proj.) Series 1997, 4.3%, VRDN (a)(b) |
8,700,000 |
8,700,000 |
|
Canton Hsg. Auth. Multi-family Hsg. Rev. (Canton Mill Lofts Proj.) Series 1999, 4.25%, LOC First Union Nat'l. Bank, North Carolina, VRDN (a)(b) |
2,400,000 |
2,400,000 |
|
Clayton County Hsg. Auth. Multi-family Hsg. Rev. (Hyde Park Club Apts. Proj.) Series 1997, 4.3%, LOC Fannie Mae, VRDN (a)(b) |
5,500,000 |
5,500,000 |
|
Cobb County Dev. Auth. Poll Cont. Rev. (Georgia Pwr. Co. Plant Proj.) First Series 1991, 4.15%, VRDN (a) |
2,400,000 |
2,400,000 |
|
Columbia County Elderly Auth. Residential Care Facilities Rev. (Augusta Residential Ctr. on Aging Proj.) 4.2%, LOC Suntrust Bank, VRDN (a) |
3,300,000 |
3,300,000 |
|
Dekalb County Hosp. Auth. Rev. (Med. Ctr. Proj.) Series B, 4.2%, LOC Suntrust Bank, VRDN (a) |
2,200,000 |
2,200,000 |
|
Fulton County Hsg. Auth. Multi-family Hsg. Rev. (Champions Green Apts. Proj.) Series A, 4.25%, LOC Southtrust Bank NA, VRDN (a) |
3,295,000 |
3,295,000 |
|
Gwinnett County Hsg. Auth. Multi-family Hsg. Rev. |
4,200,000 |
4,200,000 |
|
Macon-Bibb County Ind. Auth. Dev. (Diamond Plastics Corp. Proj.) Series 1999, 4.35%, LOC Bank of America NA, VRDN (a)(b) |
2,600,000 |
2,600,000 |
|
Municipal Securities - continued |
|||
Principal Amount |
Value |
||
Georgia - continued |
|||
Marietta Hsg. Auth. Multi-family Hsg. Rev. (Winterset Apts. Proj.) 4.15%, LOC Wachovia Bank NA, VRDN (a) |
$ 3,000,000 |
$ 3,000,000 |
|
Monroe County Dev. Auth. Poll. Cont. Rev. (Georgia Pwr. Co. Proj.) First Series 97, 4.25%, VRDN (a) |
3,700,000 |
3,700,000 |
|
Richmond County Dev. Auth. Solid Waste Disp. Rev. (Evergreen Nylon Recycling Proj.) Series 1998, 4.3%, |
15,000,000 |
15,000,000 |
|
Roswell Hsg. Auth. Multi-family Hsg. Rev. Series 1996, 4.15% (Fannie Mae Guaranteed), VRDN (a) |
7,295,000 |
7,295,000 |
|
Summerville Ind. Dev. Auth. Facility Rev. (Image Ind., Inc. Proj.) Series 1997, 4.29%, LOC First Union Nat'l. Bank, North Carolina, VRDN (a)(b) |
2,400,000 |
2,400,000 |
|
|
85,850,000 |
||
Illinois - 7.3% |
|||
Chicago Arpt. Spl. Facilities Rev. (Centerpoint O'Hare Proj.) 4.3%, LOC Bank One NA, Chicago, VRDN (a)(b) |
1,600,000 |
1,600,000 |
|
Chicago Board of Ed. Participating VRDN Series BA 96 BB, 4.27% (Liquidity Facility Bank of America NA) (a)(c) |
11,100,000 |
11,100,000 |
|
Chicago Gen. Oblig. Participating VRDN Series PA 643 R, 4.22% (Liquidity Facility Merrill Lynch & Co., Inc.) (a)(c) |
2,895,000 |
2,895,000 |
|
Chicago O'Hare Int'l. Arpt. Rev. Series 1988 A, 4.25%, |
14,800,000 |
14,800,000 |
|
Chicago Wtr. Rev. Participating VRDN Series SGA 93, 4.35% (Liquidity Facility Societe Generale) (a)(c) |
11,500,000 |
11,500,000 |
|
City of Rolling Meadows Solid Waste Disp. Rev. (BFI Waste Sys. of North America Proj.) Series 1999, 4.22%, LOC Bayerische Hypo-und Vereinsbank AG, VRDN (a)(b) |
2,880,000 |
2,880,000 |
|
Illinois Dev. Fin. Auth. Envir. Facilities Rev. (Citizens Communications Co. Proj.) Series 1997, 5.2%, VRDN (a)(b) |
2,300,000 |
2,300,000 |
|
Illinois Dev. Fin. Auth. Poll. Cont. Rev.: |
|
|
|
(Uno-Ven Co. Proj.) Series 1994, 4.2%, LOC Bank One NA, Michigan, VRDN (a) |
3,700,000 |
3,700,000 |
|
Series 1997 A, 4.25% (MBIA Insured), VRDN (a)(b) |
2,500,000 |
2,500,000 |
|
Illinois Dev. Fin. Auth. Rev. (AMR Pooled Fing. Prog.) |
3,185,000 |
3,185,000 |
|
Illinois Edl. Facilities Auth. Rev. (Field Museum of Natural History Proj.) Series 2000, 4.2%, LOC Bank One NA, VRDN (a) |
6,400,000 |
6,400,000 |
|
Illinois Gen. Oblig. Participating VRDN Series ROC 00 10, 4.22% (Liquidity Facility Salomon Smith Barney Hldgs., Inc.) (a)(c) |
4,000,000 |
4,000,000 |
|
Municipal Securities - continued |
|||
Principal Amount |
Value |
||
Illinois - continued |
|||
Illinois Health Facilities Auth. Rev.: |
|
|
|
(Central Dupage Health Proj.) Series 2000 C, 4.25% (Liquidity Facility American Nat'l. Bank & Trust, Chicago), VRDN (a) |
$ 3,200,000 |
$ 3,200,000 |
|
(Northwest Cmnty. Hosp. Proj.) Series 1995, 4.25% (Liquidity Facility Bank One NA, Chicago), VRDN (a) |
13,600,000 |
13,600,000 |
|
(Southern Illinois Health Care Proj.) 4.3% (MBIA Insured), VRDN (a) |
2,075,000 |
2,075,000 |
|
Illinois Hsg. Dev. Auth. Multi-family Rev. (Hyde Park Tower Apts. Proj.) Series 2000 A, 4.3%, LOC Fannie Mae, VRDN (a)(b) |
5,600,000 |
5,600,000 |
|
Madison County Envir. Impt. Rev. (Shell Wood River Refining Co. Proj.): |
|
|
|
Series 1997 A, 4.3% (Shell Oil Co. Guaranteed), VRDN (a)(b) |
1,500,000 |
1,500,000 |
|
Series 1998 A, 4.3% (Shell Oil Co. Guaranteed), VRDN (a)(b) |
5,400,000 |
5,400,000 |
|
Saint Charles Ind. Dev. Rev. (Pier 1 Imports-Midwest, Inc. Proj.) Series 1986, 4.35%, LOC Bank One, Texas NA, VRDN (a)(b) |
1,300,000 |
1,300,000 |
|
|
99,535,000 |
||
Indiana - 1.2% |
|||
Burns Hbr. Ind. Dev. Rev. (J&F Steel Corp. Proj.) 4.45%, |
1,400,000 |
1,400,000 |
|
Elkhart County Econ. Dev. Rev. (Burger Dairy Proj.) 4.75%, LOC Old Kent Bank, Michigan, VRDN (a)(b) |
1,055,000 |
1,055,000 |
|
Indiana Bond Bank TAN Series 2000 A2, 4.75% 1/18/01, LOC Bank of America NA |
5,455,000 |
5,458,957 |
|
Petersburg Solid Waste Disp. Rev. (Indianapolis Pwr. & Lt. Co. Proj.) Series 1995 C, 4.4%, VRDN (a)(b) |
3,600,000 |
3,600,000 |
|
Rockport Ind. Dev. Rev. (AK Steel Corp. Proj.) Series 1999 A, 4.25%, LOC PNC Bank NA, VRDN (a)(b) |
5,000,000 |
5,000,000 |
|
|
16,513,957 |
||
Iowa - 1.6% |
|||
Iowa Fin. Auth. Ind. Dev. Rev. (Grafco Industries Proj.) |
1,900,000 |
1,900,000 |
|
Iowa Fin. Auth. Solid Disp. Waste Rev. (Cedar River Paper Co. Proj.) Series 1994 A, 4.35%, LOC UBS AG, VRDN (a)(b) |
19,500,000 |
19,500,000 |
|
|
21,400,000 |
||
Municipal Securities - continued |
|||
Principal Amount |
Value |
||
Kansas - 1.9% |
|||
Butler County Solid Waste Disp. & Cogeneration Rev. (Texaco Refining & Mktg. Proj.) Series 1996 B, 4.35%, VRDN (a)(b) |
$ 18,100,000 |
$ 18,100,000 |
|
Chanute Indl. Dev. Rev. (Ash Grove Cement Co. Proj.) |
3,600,000 |
3,600,000 |
|
La Cygne Envir. Impt. Rev. (Kansas City Pwr. & Lt. Co. Proj.) Series 1994, 5.15%, VRDN (a) |
4,500,000 |
4,500,000 |
|
|
26,200,000 |
||
Kentucky - 0.9% |
|||
Kentucky Econ. Dev. Fin. Auth. Indl. Bldg. Rev. (Republic Svcs., Inc. Proj.) Series 2000, 4.3%, LOC Bank of America NA, VRDN (a)(b) |
2,920,000 |
2,920,000 |
|
Louisville & Jefferson County Reg'l. Arpt. Auth.: |
|
|
|
(UPS Worldwide, Inc. Proj.) Series B, 4.3% (United Parcel Svc. of America Guaranteed), VRDN (a)(b) |
7,700,000 |
7,700,000 |
|
Series 1999 A, 4.3% (United Parcel Svc. of America Guaranteed), VRDN (a)(b) |
1,900,000 |
1,900,000 |
|
|
12,520,000 |
||
Louisiana - 6.7% |
|||
Caddo Parish Indl. Dev. Board Exempt Facilities Rev. (Atlas Proj.) Series 1996 A, 4.35%, LOC Deutsche Bank AG, VRDN (a)(b) |
2,500,000 |
2,500,000 |
|
Calcasieu Parish Ind. Dev. Board Envir. Rev. (Citgo Petroleum Corp. Proj.): |
|
|
|
Series 1994, 4.35%, LOC BNP Paribas SA, VRDN (a)(b) |
5,900,000 |
5,900,000 |
|
4.35%, LOC BNP Paribas SA, VRDN (a)(b) |
6,200,000 |
6,200,000 |
|
Calcasieu Parish Pub. Trust Auth. Solid Waste Disp. Rev. |
7,300,000 |
7,300,000 |
|
Iberville Parish Rev. (Dow Chemical Co. Proj.) Series 1999, 4.35%, VRDN (a)(b) |
7,000,000 |
7,000,000 |
|
Louisiana Pub. Facilities Auth. Rev. (Equip. & Cap. Pooled Ln. Prog.) Series 2000, 4.22%, LOC KBC Bank, NV, VRDN (a) |
8,265,000 |
8,265,000 |
|
Lousiana Local Govt. Envir. Facilities Cmnty. Dev. Auth. Rev. (Shreveport/Independence Proj.) 4.3% (MBIA Insured), VRDN (a) |
2,800,000 |
2,800,000 |
|
Plaquemines Parish Envir. Rev. (BP Exploration & Oil, Inc. Proj.) Series 1995, 4.3%, VRDN (a)(b) |
12,300,000 |
12,300,000 |
|
Saint Charles Parish Poll. Cont. Rev. (Shell Oil Co.-Norco Proj.) Series 1991, 4.3%, VRDN (a)(b) |
6,900,000 |
6,900,000 |
|
Municipal Securities - continued |
|||
Principal Amount |
Value |
||
Louisiana - continued |
|||
West Baton Rouge Parish Indl. District #3 Rev. |
|
|
|
Series 1993, 4.35%, VRDN (a)(b) |
$ 14,100,000 |
$ 14,100,000 |
|
Series 1995, 4.35%, VRDN (a)(b) |
18,900,000 |
18,900,000 |
|
|
92,165,000 |
||
Maine - 0.7% |
|||
Maine Hsg. Auth. Mtg. Purchase Rev. Participating VRDN Series BA 99 P, 4.27% (Liquidity Facility Bank of America NA) (a)(b)(c) |
9,095,000 |
9,095,000 |
|
Maryland - 4.1% |
|||
Maryland Cmnty. Dev. Administration Dept. Hsg. & Cmnty. Dev. Participating VRDN Series FRRI A66, 4.35% (Liquidity Facility Bayerische Hypo-und Vereinsbank AG) (a)(c) |
3,910,000 |
3,910,000 |
|
Maryland Energy Fing. Admin (Cimenteries CBR SA Proj.) Series 2000, 4.35%, LOC Deutsche Bank AG, VRDN (a)(b) |
24,750,000 |
24,750,000 |
|
Montgomery County Hsg. Opportunity Commission Hsg. Rev.: |
|
|
|
(Draper Lane Apts. Proj.) 4.25% (FGIC Insured), VRDN (a)(b) |
2,400,000 |
2,400,000 |
|
(The Grand Proj.) Series 1997 1, 4.2%, LOC Fannie Mae, VRDN (a)(b) |
25,000,000 |
25,000,000 |
|
|
56,060,000 |
||
Michigan - 1.5% |
|||
Detroit Swr. Disp. Rev. Participating VRDN Series BS 99 81, 4.22% (Liquidity Facility Bear Stearns Companies, Inc.) (a)(c) |
2,900,000 |
2,900,000 |
|
Detroit Wtr. Sys. Rev. Participating VRDN Series 992201, 4.22% (Liquidity Facility Citibank NA, New York) (a)(c) |
4,000,000 |
4,000,000 |
|
Michigan Hosp. Fin. Auth. Rev. Participating VRDN |
5,970,000 |
5,970,000 |
|
Michigan Hsg. Dev. Auth. Single Family Mtg. Rev. |
2,450,000 |
2,450,000 |
|
Michigan Strategic Fund Ltd. Oblig. Rev.: |
|
|
|
(HP Pelzer Automotive Sys. Sterling Heights Proj.) 4.3%, |
2,800,000 |
2,800,000 |
|
(Mans Proj.) Series 1998, 4.35%, LOC Comerica Bank, Detroit, VRDN (a)(b) |
1,115,000 |
1,115,000 |
|
Royal Oak Hosp. Fin. Auth. Rev. (William Beaumont Hosp. Proj.) Series 1997 L, 4.25%, VRDN (a) |
1,800,000 |
1,800,000 |
|
|
21,035,000 |
||
Municipal Securities - continued |
|||
Principal Amount |
Value |
||
Minnesota - 0.2% |
|||
Plymouth Multi-family Hsg. Rev. (At the Lakes Apts. Proj.) Series 1997 A, 4.3% (Fannie Mae Guaranteed), VRDN (a)(b) |
$ 2,265,000 |
$ 2,265,000 |
|
Mississippi - 0.6% |
|||
Jackson County Indl. Sewage Facilities Rev. (Chevron U.S.A, Inc. Proj.) Series 1994, 4.3%, VRDN (a)(b) |
2,900,000 |
2,900,000 |
|
Mississippi Gen. Oblig. Participating VRDN Series PA 573, 4.22% (Liquidity Facility Merrill Lynch & Co., Inc.) (a)(c) |
5,025,000 |
5,025,000 |
|
|
7,925,000 |
||
Missouri - 1.8% |
|||
Missouri Higher Ed. Ln. Auth. Student Ln. Rev. Series 1990 A, 4.1%, LOC Nat'l. Westminster Bank PLC, VRDN (a)(b) |
21,200,000 |
21,200,000 |
|
Missouri Hsg. Dev. Commission Single Family Mtg. Rev. Participating VRDN Series PA 157, 4.27% (Liquidity Facility Merrill Lynch & Co., Inc.) (a)(b)(c) |
3,410,000 |
3,410,000 |
|
|
24,610,000 |
||
Nebraska - 1.9% |
|||
Lancaster County Hosp. Auth. (Immanuel Health Sys. Proj.) Series 2000 A, 4.25%, LOC Lasalle Bank NA, VRDN (a) |
4,600,000 |
4,600,000 |
|
Nebraska Invt. Fin. Auth. Single Family Hsg. Rev.: |
|
|
|
Participating VRDN Series Merlots 00 UU, 4.34% (Liquidity Facility First Union Nat'l. Bank, North Carolina) (a)(b)(c) |
2,820,000 |
2,820,000 |
|
Series 2000 G, 4.35% (Liquidity Facility Fed. Home Ln. Bank Topeka), VRDN (a)(b) |
6,200,000 |
6,200,000 |
|
Washington County Indl. Dev. Rev. (Cargill Dow Polymers |
11,900,000 |
11,900,000 |
|
|
25,520,000 |
||
Nevada - 2.1% |
|||
Clark County Poll. Cont. Rev. (Southern California Edison Co. Proj.) Series 2000 A, 4.4%, VRDN (a)(b) |
16,100,000 |
16,100,000 |
|
Clark County School District Participating VRDN |
4,995,000 |
4,995,000 |
|
Clark County Spl. Facilities Arpt. Rev. Series 1998 B, 4.25% (MBIA Insured), VRDN (a)(b) |
900,000 |
900,000 |
|
Nevada Hsg. Division (Oakmont Apt. Fort Apache Road Proj.) Series 1996 A, 4.25%, LOC UBS AG, VRDN (a)(b) |
7,335,000 |
7,335,000 |
|
|
29,330,000 |
||
Municipal Securities - continued |
|||
Principal Amount |
Value |
||
New Hampshire - 0.4% |
|||
New Hampshire Higher Edl. & Health Facilities Auth. Rev. (VHA of New England, Inc. Proj.) Series 1985 F, 4.2% (AMBAC Insured) (BPA Mellon Bank NA, Pittsburgh), VRDN (a) |
$ 2,000,000 |
$ 2,000,000 |
|
New Hampshire Hsg. Fin. Auth. Multi-family Hsg. Rev. (Nashua-Oxford Proj.) Series 1990, 4.3% (Continental Casualty Co. Guaranteed), VRDN (a) |
3,025,000 |
3,025,000 |
|
|
5,025,000 |
||
New Jersey - 0.4% |
|||
New Jersey Trans. Trust Fund Auth. Bonds (Trans. Sys. Proj.) Series 1999 A, 4.05% tender 12/7/00 (Liquidity Facility Bear Stearns Companies, Inc.) (a)(c) |
5,000,000 |
5,000,000 |
|
New Mexico - 0.2% |
|||
Farmington Poll. Cont. Rev. Participating VRDN |
2,500,000 |
2,500,000 |
|
New York - 0.6% |
|||
New York State Mtg. Agcy. Participating VRDN |
7,715,000 |
7,715,000 |
|
North Carolina - 0.7% |
|||
Cleveland County Ind. Facilities & Poll. Cont. Fin. Auth. Solid Waste Disp. Rev. (PPG Ind. Proj.) 4.35%, VRDN (a)(b) |
3,300,000 |
3,300,000 |
|
Gaston County Ind. Facilities & Poll. Cont. Fing. Auth. Rev. (Duke Energy Corp. Proj.) Series 1999, 4.35%, VRDN (a)(b) |
7,000,000 |
7,000,000 |
|
|
10,300,000 |
||
Ohio - 1.6% |
|||
Ohio Hsg. Fin. Agcy. Mtg. Rev. Participating VRDN: |
|
|
|
Series BA 00 F, 4.25% (Liquidity Facility Bank of America NA) (a)(b)(c) |
5,300,000 |
5,300,000 |
|
Series CDC 99 A, 4.27% (Liquidity Facility Caisse des Depots et Consignations) (a)(b)(c) |
2,870,000 |
2,870,000 |
|
Ohio Hsg. Fin. Agcy. Single Family Mtg. Participating VRDN: |
|
|
|
Series 14, 4.2% (Liquidity Facility Bank of New York NA) (a)(b)(c) |
3,800,000 |
3,800,000 |
|
Series FRRI A25, 4.2% (Liquidity Facility Commerzbank AG) (a)(b)(c) |
10,065,000 |
10,065,000 |
|
|
22,035,000 |
||
Municipal Securities - continued |
|||
Principal Amount |
Value |
||
Oklahoma - 1.1% |
|||
Oklahoma Dev. Fin. Auth. Hosp. Rev. (Deaconess Health Care Corp. Proj.) Series 2000 A, 4.2%, LOC KBC Bank, NV, VRDN (a) |
$ 7,000,000 |
$ 7,000,000 |
|
Oklahoma Dev. Fin. Auth. Rev. (Oklahoma Hosp. Assoc. Proj.) Series 1999 A, 4.2% (CDC Fdg. Corp. Guaranteed), VRDN (a) |
4,600,000 |
4,600,000 |
|
Oklahoma Hsg. Fin. Auth. Single Family Rev. Participating VRDN Series LB 99 A5, 4.35% (Liquidity Facility Bayerische Hypo-und Vereinsbank AG) (a)(b)(c) |
1,030,000 |
1,030,000 |
|
Southeastern Oklahoma Ind. Auth. Solid Waste Disp. Rev. (Weyerhaeuser Co. Proj.) 5%, VRDN (a)(b) |
2,100,000 |
2,100,000 |
|
|
14,730,000 |
||
Oregon - 1.6% |
|||
Multnomah County Gen. Oblig. Participating VRDN |
6,095,000 |
6,095,000 |
|
Oregon Econ. Dev. Rev. (SP Newsprint Co. Proj.) Series 1996, 4.35%, LOC Toronto Dominion Bank, VRDN (a)(b) |
15,900,000 |
15,900,000 |
|
|
21,995,000 |
||
Pennsylvania - 3.4% |
|||
Allegheny County Arpt. Rev. Participating VRDN |
10,905,000 |
10,905,000 |
|
Allegheny County Ind. Dev. Auth. Rev.: |
|
|
|
(Duquesne Lt. Co. Proj.) Series 1999 A, 4.35% |
3,600,000 |
3,600,000 |
|
(Residential Rental Dev. Proj.) Series A, 4.25%, |
4,000,000 |
4,000,000 |
|
(Union Elec. Steel Co. Proj.) Series 1996 A, 4.35%, |
1,000,000 |
1,000,000 |
|
Cumberland County Series 2000, 4.2% (AMBAC Insured), VRDN (a) |
3,500,000 |
3,500,000 |
|
Dauphin County Gen. Auth. Rev. (School District Pooled Fing. Prog.) 4.23% (AMBAC Insured) (BPA Bank of Nova Scotia) (BPA Commerzbank AG), VRDN (a) |
2,400,000 |
2,400,000 |
|
Northeastern Pennsylvania Hosp. & Edl. Auth. Health Care Rev. (Wyoming Valley Health Care Proj.) Series 1994 A, 4.35% (AMBAC Insured), VRDN (a) |
2,100,000 |
2,100,000 |
|
Northumberland County Ind. Dev. Auth. Rev. (Foster Wheeler Mount Carmel, Inc.) Series 1987 A, 4.3%, LOC UBS AG, VRDN (a)(b) |
1,960,000 |
1,960,000 |
|
Pennsylvania Econ. Dev. Fing. Auth. Ind. Dev. Rev. |
900,000 |
900,000 |
|
Municipal Securities - continued |
|||
Principal Amount |
Value |
||
Pennsylvania - continued |
|||
Pennsylvania Higher Ed. Assistance Agcy. Student Ln. Rev.: |
|
|
|
Series 1988 A, 4.1% (AMBAC Insured), VRDN (a)(b) |
$ 6,100,000 |
$ 6,100,000 |
|
Series 1994 A, 4% (AMBAC Insured), VRDN (a)(b) |
10,000,000 |
10,000,000 |
|
|
46,465,000 |
||
South Carolina - 2.5% |
|||
Berkeley County Exempt Facilities Ind. Rev. |
1,900,000 |
1,900,000 |
|
South Carolina Hsg. Fin. & Hsg. Dev. Auth. Multi-family Rev. (Richland Oxford Proj.) Series 1990 C, 4.3% (Continental Casualty Co. Guaranteed), VRDN (a) |
2,200,000 |
2,200,000 |
|
South Carolina Jobs Econ. Dev. Auth. Healthcare Facilities Rev. (The Methodist Home Proj.) Series 1994, 4.25%, LOC Bank of America NA, VRDN (a) |
3,000,000 |
3,000,000 |
|
South Carolina Port Auth. Rev. Series 1998 B, 4.3% |
20,800,000 |
20,800,000 |
|
South Carolina Pub. Svc. Auth. Rev. Participating VRDN |
6,500,000 |
6,500,000 |
|
|
34,400,000 |
||
South Dakota - 1.0% |
|||
South Dakota Hsg. Dev. Auth. Participating VRDN: |
|
|
|
Series Merlots 00 GGG, 4.34% (Liquidity Facility First Union Nat'l. Bank, North Carolina) (a)(b)(c) |
6,870,000 |
6,870,000 |
|
Series PA 725R, 4.27% (Liquidity Facility Merrill Lynch & Co., Inc.) (a)(b)(c) |
7,275,000 |
7,275,000 |
|
|
14,145,000 |
||
Tennessee - 1.6% |
|||
Chattanooga Ind. Dev. Board Ind. Rev. (Southern Foundry Supply Proj.) Series 1996, 4.25%, LOC Suntrust Bank, VRDN (a)(b) |
2,800,000 |
2,800,000 |
|
Knox County Health & Ed. Hsg. Facilities Board Rev. (Pooled Hosp. Ln. Prog.) Series 1999 A, 4.2% (CDC Fdg. Corp. Guaranteed), VRDN (a) |
4,400,000 |
4,400,000 |
|
McMinn County Ind. Dev. Board Solid Waste Disp. Facilities Rev. (Bowater, Inc. Proj.) Series 1999, 4.3%, LOC Wachovia Bank NA, VRDN (a)(b) |
2,500,000 |
2,500,000 |
|
Memphis-Shelby County Arpt. Auth. Arpt. Rev. Participating VRDN Series Merlots 00 C, 4.34% (Liquidity Facility First Union Nat'l. Bank, North Carolina) (a)(b)(c) |
3,000,000 |
3,000,000 |
|
Municipal Securities - continued |
|||
Principal Amount |
Value |
||
Tennessee - continued |
|||
Sevier County Pub. Bldg. Auth. Rev. Series II D1, 4.25% (AMBAC Insured), VRDN (a)(b) |
$ 6,300,000 |
$ 6,300,000 |
|
Shelby County Gen. Oblig. Participating VRDN |
2,700,000 |
2,700,000 |
|
|
21,700,000 |
||
Texas - 21.5% |
|||
Bexar County Health Facilities Dev. Corp. Rev. (Warm Springs Rehabilitation Proj.) Series 1997, 4.3%, LOC Chase Bank of Texas NA, VRDN (a) |
6,725,000 |
6,725,000 |
|
Brazos River Auth. Poll. Cont. Rev. (Texas Utils. Elec. Co. Proj.): |
|
|
|
Series 1996 B, 4.55% (AMBAC Insured) (BPA Bank of New York NA), VRDN (a)(b) |
4,000,000 |
4,000,000 |
|
Series 1996 C, 4.3% (AMBAC Insured) (BPA Bank of New York NA), VRDN (a)(b) |
5,100,000 |
5,100,000 |
|
Series 1997 A, 4.35% (MBIA Insured) (BPA Bank of New York NA), VRDN (a)(b) |
6,200,000 |
6,200,000 |
|
Series 1997 B, 4.3% (MBIA Insured) (BPA Bank of New York NA), VRDN (a)(b) |
7,300,000 |
7,300,000 |
|
Brazos River Hbr. Navigation Brazoria County Envir. Facilities Rev.: |
|
|
|
(JT Venture Proj.) Series 1998, 4.35%, LOC Chase Manhattan Bank, VRDN (a)(b) |
4,900,000 |
4,900,000 |
|
(Merey Sweeny LP Proj.): |
|
|
|
Series 2000 A, 4.35%, LOC Chase Manhattan Bank, VRDN (a)(b) |
2,000,000 |
2,000,000 |
|
Series 2000 B, 4.35%, LOC Citibank NA, New York, VRDN (a)(b) |
12,500,000 |
12,500,000 |
|
Brazos River Hbr. Navigation District of Brazoria County Rev. (Dow Chemical Co. Proj.): |
|
|
|
Series 1999, 4.35%, VRDN (a)(b) |
17,200,000 |
17,200,000 |
|
Series 2000, 4.35%, VRDN (a)(b) |
13,800,000 |
13,800,000 |
|
Calhoun County Solid Waste Disp. Rev. (Formosa Plastics Corp. Proj.) Series 2000, 4.4%, LOC Bank of America NA, VRDN (a)(b) |
1,400,000 |
1,400,000 |
|
Denton County Indl. Dev. Rev. (Hydro Conduit Corp.) 4.35%, LOC UBS AG, VRDN (a)(b) |
3,500,000 |
3,500,000 |
|
Greater East Texas Higher Ed. Auth. Student Ln. Rev. Bonds Series 1995 A, 4.5%, tender 5/1/01, LOC Student Ln. Marketing Assoc. (b) |
2,000,000 |
2,000,000 |
|
Municipal Securities - continued |
|||
Principal Amount |
Value |
||
Texas - continued |
|||
Gulf Coast Ind. Dev. Auth. Solid Waste Disp. Rev. |
|
|
|
Series 1995, 4.35%, LOC Bank of America NA, VRDN (a)(b) |
$ 7,500,000 |
$ 7,500,000 |
|
4.35%, LOC Wachovia Bank NA, VRDN (a)(b) |
4,500,000 |
4,500,000 |
|
Gulf Coast Indl. Dev. Auth. Envir. Facilities Rev. |
3,300,000 |
3,300,000 |
|
Gulf Coast Waste Disp. Auth. Envir. Impt. Facilities Rev. |
2,420,000 |
2,420,000 |
|
Gulf Coast Waste Disp. Auth. Poll. Cont. Rev.: |
|
|
|
(Air Products Proj.): |
|
|
|
Series 1999, 4.25%, LOC Bank One NA, Chicago, VRDN (a)(b) |
3,700,000 |
3,700,000 |
|
Series 2000, 4.25%, LOC Bank One NA, VRDN (a)(b) |
2,400,000 |
2,400,000 |
|
(Amoco Oil Co. Proj.) Series 1995, 4.3% (Amoco Co. Guaranteed), VRDN (a)(b) |
2,000,000 |
2,000,000 |
|
Harlandale Independent School District Participating VRDN Series SGA 100, 4.22% (Liquidity Facility Societe Generale) (a)(c) |
3,380,000 |
3,380,000 |
|
Harris County Cultural Ed. Facilities Fin. Corp. Rev. (Houston Music Hall-Hobby Ctr. Proj.) Series 1999, 4.3%, LOC Chase Bank of Texas NA, VRDN (a) |
3,500,000 |
3,500,000 |
|
Harris County Health Facilities Dev. Corp. Hosp. Rev. (Methodist Hosp. Proj.) Series 1994, 4.25%, VRDN (a) |
1,200,000 |
1,200,000 |
|
Harris County Health Facilities Dev. Corp. Spl. Facilities Rev. (Texas Med. Ctr. Proj.) Series 1999 B, 4.3% (FSA Insured), VRDN (a) |
2,100,000 |
2,100,000 |
|
Houston Arpt. Facilities Sys. Rev. Participating VRDN |
10,125,000 |
10,125,000 |
|
Houston Gen. Oblig. Participating VRDN Series SGA 28, 4.22% (Liquidity Facility Societe Generale) (a)(c) |
2,100,000 |
2,100,000 |
|
Houston Higher Ed. Fin. Corp. Higher Ed. Rev. Participating VRDN Series SG 139, 4.22% (Liquidity Facility Societe Generale) (a)(c) |
3,100,000 |
3,100,000 |
|
Houston Wtr. & Swr. Sys. Rev. Participating VRDN |
6,840,000 |
6,840,000 |
|
Hunt County Indl. Dev. Corp. (Trico Industries, Inc. Proj.) |
5,000,000 |
5,000,000 |
|
Kerrville Independent School District Participating VRDN |
6,010,000 |
6,010,000 |
|
Municipal Securities - continued |
|||
Principal Amount |
Value |
||
Texas - continued |
|||
Lower Colorado River Auth. Rev. Participating VRDN |
$ 19,425,000 |
$ 19,425,000 |
|
Lower Neches Valley Auth. Ind. Dev. Rev. (Mobil Oil Corp. Proj.) Series 1999, 4.3%, VRDN (a)(b) |
7,100,000 |
7,100,000 |
|
Midlothian Indl. Dev. Corp. Envir. Facilities Rev. (Holnam Texas LP Proj.) Series 1999, 4.25%, LOC Bank One NA, Michigan, VRDN (a)(b) |
6,200,000 |
6,200,000 |
|
Mineral Wells Ind. Dev. Corp. Rev. (Ameron Int'l. Corp. Proj.) 4.3%, LOC Bank One, Illinois NA, VRDN (a)(b) |
7,200,000 |
7,200,000 |
|
North East Texas Independent School District Participating VRDN Series SG 143, 4.22% (Liquidity Facility Societe Generale) (a)(c) |
5,215,000 |
5,215,000 |
|
North Texas Higher Ed. Auth. Student Ln. Rev. Series C, 4.1% (AMBAC Insured) (BPA Student Ln. Marketing Assoc.), VRDN (a)(b) |
11,900,000 |
11,900,000 |
|
Pharr San Juan Alamo Independent School District Participating VRDN Series SGA 101, 4.22% (Liquidity Facility Societe Generale) (a)(c) |
6,735,000 |
6,735,000 |
|
Port Corpus Christi Ind. Dev. Corp. Solid Waste Disp. Rev. (Coastal Refining & Marketing Proj.) 4.25%, |
2,700,000 |
2,700,000 |
|
Port Corpus Christi Ind. Dev. Corp. Swr. & Solid Waste Rev. (Citgo Petroleum Corp. Proj.) Series 1996, 4.35%, |
6,000,000 |
6,000,000 |
|
Sabine River Auth. Poll. Cont. Rev. (Texas Utils. Elec. Co. Proj.) Series 1996 B, 4.3% (AMBAC Insured) (BPA Bank of New York NA), VRDN (a)(b) |
5,000,000 |
5,000,000 |
|
San Antonio Elec. & Gas Rev. Participating VRDN Series SG 101, 4.22% (Liquidity Facility Societe Generale) (a)(c) |
5,600,000 |
5,600,000 |
|
San Antonio Wtr. Sys. Rev. Participating VRDN Series Merlots 00 VV, 4.29% (Liquidity Facility First Union Nat'l. Bank, North Carolina) (a)(c) |
1,500,000 |
1,500,000 |
|
Texas Gen. Oblig.: |
|
|
|
Participating VRDN: |
|
|
|
Series FRRI 00 L18, 4.3% (Liquidity Facility Lehman Brothers, Inc.) (a)(c) |
29,400,000 |
29,400,000 |
|
Series PA 631R, 4.27% (Liquidity Facility Merrill Lynch & Co., Inc.) (a)(b)(c) |
7,600,000 |
7,600,000 |
|
(Veterans Land Proj.) Series A, 4.2%, VRDN (a)(b) |
10,700,000 |
10,700,000 |
|
West Side Calhoun County Navigation District Envir. Facilities Rev. (BP Chemicals, Inc. Proj.) Series 2000, 4.3%, VRDN (a)(b) |
5,800,000 |
5,800,000 |
|
|
293,875,000 |
||
Municipal Securities - continued |
|||
Principal Amount |
Value |
||
Utah - 1.9% |
|||
Provo City Hsg. Rev. (Branbury Park Proj.) Series 1987 B, 4.32%, LOC Bank One, Arizona NA, VRDN (a)(b) |
$ 1,300,000 |
$ 1,300,000 |
|
Utah Board of Regents Student Ln. Rev. 4.1% (AMBAC Insured) (BPA Dexia Bank SA), VRDN (a)(b) |
25,000,000 |
25,000,000 |
|
|
26,300,000 |
||
Virginia - 3.3% |
|||
Dinwiddie County Indl. Dev. Auth. Exempt Facility Rev. (Chaparral Steel VA Proj.) Series 1998 A, 4.35%, |
9,050,000 |
9,050,000 |
|
Richmond Pub. Util. Rev. Series 1998 A, 4.25%, VRDN (a) |
13,500,000 |
13,500,000 |
|
Roanoke Ind. Dev. Auth. Hosp. Rev. (Carilion Health Svcs. Proj.) Series 1995 B, 4.25% (BPA First Union Nat'l. Bank, North Carolina), VRDN (a) |
3,000,000 |
3,000,000 |
|
Virginia Commonwealth Trans. Board Trans. Rev. Participating VRDN Series SG 134, 4.22% (Liquidity Facility Societe Generale) (a)(c) |
2,600,000 |
2,600,000 |
|
Virginia Pub. School Auth. Participating VRDN Series Putters 139, 4.22% (Liquidity Facility J.P. Morgan & Co., Inc.) (a)(c) |
10,095,000 |
10,095,000 |
|
Virginia Trans. Board Trans. Contract Rev. Participating VRDN Series FRRI 99 A6, 4.35% (Liquidity Facility Bayerische Hypo-und Vereinsbank AG) (a)(c) |
6,980,000 |
6,980,000 |
|
|
45,225,000 |
||
Washington - 2.2% |
|||
Chelan County Pub. Util. District #1 Rev. Participating VRDN Series Merlots 00 R, 4.34% (Liquidity Facility First Union Nat'l. Bank, North Carolina) (a)(b)(c) |
2,400,000 |
2,400,000 |
|
Pierce County Econ. Dev. Corp. Rev. (K&M Hldgs. II Proj.) Series 1997, 4.35%, LOC Wells Fargo Bank NA, San Francisco, VRDN (a)(b) |
1,500,000 |
1,500,000 |
|
Port Seattle Gen. Oblig. Series 1997, 4.35%, LOC Canadian Imperial Bank of Commerce, VRDN (a)(b) |
5,000,000 |
5,000,000 |
|
Washington Econ. Dev. Fin. Auth. Rev. (Ferry Brothers, Inc. Proj.) 4.35%, LOC Key Bank Nat'l. Assoc., VRDN (a)(b) |
1,865,000 |
1,865,000 |
|
Washington Gen. Oblig. Participating VRDN: |
|
|
|
Series RobIns 6, 4.22% (Liquidity Facility Bank of New York NA) (a)(c) |
3,195,000 |
3,195,000 |
|
Series SGA 34, 4.22% (Liquidity Facility Societe Generale) (a)(c) |
5,080,000 |
5,080,000 |
|
Washington Hsg. Fin. Commission Participating VRDN |
885,000 |
885,000 |
|
Municipal Securities - continued |
|||
Principal Amount |
Value |
||
Washington - continued |
|||
Washington Motor Vehicle Fuel Tax Participating VRDN |
$ 4,015,000 |
$ 4,015,000 |
|
Washington Pub. Pwr. Supply Sys. Nuclear Proj. #1 Rev. Participating VRDN Series Merlots 00 A20, 4.29% (Liquidity Facility First Union Nat'l. Bank, North Carolina) (a)(c) |
6,320,000 |
6,320,000 |
|
|
30,260,000 |
||
West Virginia - 1.3% |
|||
Marion County Solid Waste Disp. Rev. (Grant Town Cogeneration Proj.) Series 1990 D, 4.1%, LOC Nat'l. Westminster Bank PLC, VRDN (a)(b) |
13,900,000 |
13,900,000 |
|
West Virginia Hosp. Fin. Auth. Rev. (WVHA Pooled Ln. Fing. Prog.) Series 2000 A, 4.32%, VRDN (a) |
4,200,000 |
4,200,000 |
|
|
18,100,000 |
||
Wisconsin - 0.4% |
|||
Wisconsin Hsg. & Econ. Dev. Auth. Rev. Participating VRDN Series PT 455, 4.27% (Liquidity Facility Commerzbank AG) (a)(b)(c) |
2,600,000 |
2,600,000 |
|
Wisconsin Hsg. & Econ. Dev. Auth. Single Family Rev. Participating VRDN Series PT 324, 4.29% (Liquidity Facility Merrill Lynch & Co., Inc.) (a)(b)(c) |
2,360,000 |
2,360,000 |
|
|
4,960,000 |
TOTAL INVESTMENT PORTFOLIO - 100.5% |
1,375,738,957 |
|
NET OTHER ASSETS - (0.5)% |
(6,694,704) |
|
NET ASSETS - 100% |
$ 1,369,044,253 |
Total Cost for Income Tax Purposes $ 1,375,738,957 |
Security Type Abbreviations |
CP - COMMERCIAL PAPER |
TAN - TAX ANTICIPATION NOTE |
VRDN - VARIABLE RATE DEMAND NOTE |
Legend |
(a) The coupon rate shown on floating or adjustable rate securities represents the rate at period end. |
(b) Private activity obligations whose interest is subject to the federal alternative minimum tax for individuals. |
(c) Provides evidence of ownership in one or more underlying municipal bonds. |
Income Tax Information |
At May 31, 2000, the fund had a capital loss carryforward of approximately $5,000 of which $4,000 and $1,000 will expire on May 31, 2005 and 2007, respectively. |
See accompanying notes which are an integral part of the financial statements.
Semiannual Report
Statement of Assets and Liabilities
|
November 30, 2000 (Unaudited) |
|
Assets |
|
|
Investment in securities, at value - |
|
$ 1,375,738,957 |
Cash |
|
26,068 |
Interest receivable |
|
8,238,395 |
Prepaid expenses |
|
3,850 |
Total assets |
|
1,384,007,270 |
Liabilities |
|
|
Payable for investments purchased |
$ 10,000,000 |
|
Distributions payable |
4,951,415 |
|
Other payables and accrued expenses |
11,602 |
|
Total liabilities |
|
14,963,017 |
Net Assets |
|
$ 1,369,044,253 |
Net Assets consist of: |
|
|
Paid in capital |
|
$ 1,369,086,533 |
Accumulated net realized gain (loss) on investments |
|
(42,280) |
Net Assets, for 1,369,086,119 shares outstanding |
|
$ 1,369,044,253 |
Net Asset Value, offering price and redemption price per share ($1,369,044,253 ÷ 1,369,086,119 shares) |
|
$1.00 |
See accompanying notes which are an integral part of the financial statements.
Semiannual Report
Financial Statements - continued
Statement of Operations
|
Six months ended November 30, 2000 (Unaudited) |
|
Investment Income Interest |
|
$ 29,941,191 |
Expenses |
|
|
Non-interested trustees' compensation |
$ 2,365 |
|
Custodian fees and expenses |
40,731 |
|
Audit |
10,502 |
|
Legal |
152 |
|
Insurance |
24,319 |
|
Total expenses before reductions |
78,069 |
|
Expense reductions |
(18,817) |
59,252 |
Net investment income |
|
29,881,939 |
Realized and Unrealized Gain (Loss) Net realized gain (loss) on investment securities |
|
(4,665) |
Increase (decrease) in net unrealized gain from |
|
(221) |
Net gain (loss) |
|
(4,886) |
Net increase in net assets resulting from operations |
|
$ 29,877,053 |
See accompanying notes which are an integral part of the financial statements.
Semiannual Report
Financial Statements - continued
Statement of Changes in Net Assets
|
Six months ended November 30, 2000 (Unaudited) |
Year ended |
Increase (Decrease) in Net Assets |
|
|
Operations |
$ 29,881,939 |
$ 48,114,963 |
Net realized gain (loss) |
(4,665) |
(319) |
Increase (decrease) in net unrealized gain |
(221) |
221 |
Net increase (decrease) in net assets resulting |
29,877,053 |
48,114,865 |
Distributions to shareholders from net investment income |
(29,881,939) |
(48,114,963) |
Share transactions at net asset value of $1.00 per share |
6,146,220,731 |
12,086,540,118 |
Cost of shares redeemed |
(5,988,140,118) |
(11,721,480,490) |
Net increase (decrease) in net assets and shares resulting from share transactions |
158,080,613 |
365,059,628 |
Total increase (decrease) in net assets |
158,075,727 |
365,059,530 |
Net Assets |
|
|
Beginning of period |
1,210,968,526 |
845,908,996 |
End of period |
$ 1,369,044,253 |
$ 1,210,968,526 |
See accompanying notes which are an integral part of the financial statements.
Semiannual Report
Financial Highlights
|
Six months ended November 30, 2000 |
Years ended May 31, |
|||
|
(Unaudited) |
2000 |
1999 |
1998 |
1997 D |
Selected Per-Share Data |
|
|
|
|
|
Net asset value, |
$ 1.000 |
$ 1.000 |
$ 1.000 |
$ 1.000 |
$ 1.000 |
Income from Investment
Operations |
.022 |
.037 |
.033 |
.037 |
.012 |
Less Distributions |
|
|
|
|
|
From net investment |
(.022) |
(.037) |
(.033) |
(.037) |
(.012) |
Net asset value, |
$ 1.000 |
$ 1.000 |
$ 1.000 |
$ 1.000 |
$ 1.000 |
Total Return B, C |
2.18% |
3.74% |
3.35% |
3.78% |
1.25% |
Ratios and Supplemental Data |
|
|
|
|
|
Net assets, end of period (000 omitted) |
$ 1,369,044 |
$ 1,210,969 |
$ 845,909 |
$ 128,352 |
$ 276,577 |
Ratio of expenses to |
.0113% A |
.0087% |
.0095% |
.0203% |
.0245% A |
Ratio of expenses to |
.0086% A, E |
.0040% E |
.0071% E |
.0175% E |
.0245% A |
Ratio of net investment
income to average |
4.32% A |
3.69% |
3.12% |
3.72% |
3.59% A |
A Annualized
B Total returns for periods of less than one year are not annualized.
C The total returns would have been lower had certain expenses not been reduced during the periods shown.
D For the period January 27, 1997 (commencement of operations) to May 31, 1997.
E FMR or the fund has entered into varying arrangements with third parties who either paid or reduced a portion of the fund's expenses.
See accompanying notes which are an integral part of the financial statements.
Semiannual Report
For the period ended November 30, 2000 (Unaudited)
1. Significant Accounting Policies.
Fidelity Municipal Cash Central Fund (the fund) (formerly Municipal Central Cash Fund) is a fund of Fidelity Revere Street Trust (the trust) and is authorized to issue an unlimited number of shares. The trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Delaware business trust. Shares of the fund are only offered to other investment companies and accounts (the investing funds) managed by Fidelity Management & Research Company (FMR), or its affiliates. The financial statements have been prepared in conformity with generally accepted accounting principles which require management to make certain estimates and assumptions at the date of the financial statements. The following summarizes the significant accounting policies of the fund:
Security Valuation. As permitted under Rule 2a-7 of the 1940 Act, and certain conditions therein, securities are valued initially at cost and thereafter assume a constant amortization to maturity of any discount or premium.
Income Taxes. As a qualified regulated investment company under Subchapter M of the Internal Revenue Code, the fund is not subject to income taxes to the extent that it distributes substantially all of its taxable income for its fiscal year. The schedule of investments includes information regarding income taxes under the caption "Income Tax Information."
Investment Income. Interest income, which includes amortization of premium and accretion of discount, is accrued as earned. Accretion of discount represents unrealized gain until realized at the time of a security disposition or maturity.
Expenses. Most expenses of the trust can be directly attributed to a fund. Expenses which cannot be directly attributed are apportioned among the funds in the trust.
Distributions to Shareholders. Dividends are declared daily and paid monthly from net investment income.
Security Transactions. Security transactions are accounted for as of trade date. Gains and losses on securities sold are determined on the basis of identified cost.
2. Operating Policies.
Restricted Securities. The fund is permitted to invest in securities that are subject to legal or contractual restrictions on resale. These securities generally may be resold in transactions exempt from registration or to the public if the securities are registered. Disposal of these securities may involve time-consuming negotiations and expense, and prompt sale at an acceptable price may be difficult. At the end of the period, the fund had no investments in restricted securities.
3. Fees and Other Transactions with Affiliates.
Management Fee. As the fund's investment adviser, Fidelity Investments Money Management, Inc. (FIMM), a wholly owned subsidiary of FMR, receives a monthly
Semiannual Report
Notes to Financial Statements (Unaudited) - continued
3. Fees and Other Transactions with Affiliates - continued
Management Fee - continued
management fee from FMR. This fee is based on the management fee FMR receives from the investing funds, and a percentage of the average net assets invested by the investing funds in the fund.
Fidelity Investments Institutional Operations Company, Inc. (FIIOC), an affiliate of FMR, is the fund's transfer, dividend disbursing and shareholder servicing agent. FIIOC does not receive any fees for its transfer agency services. Fidelity Service Company, Inc., also an affiliate of FMR, maintains the fund's accounting records. Pursuant to its management contract with the fund, FIMM pays the fees associated with the fund's accounting functions.
Money Market Insurance. Pursuant to an Exemptive Order issued by the Securities and Exchange Commission, the fund, along with other money market funds advised by FMR or its affiliates, has entered into insurance agreements with FIDFUNDS Mutual Limited (FIDFUNDS), an affiliated mutual insurance company. FIDFUNDS provides limited coverage for certain loss events including issuer default as to payment of principal or interest and bankruptcy or insolvency of a credit enhancement provider. The insurance does not cover losses resulting from changes in interest rates, ratings downgrades or other market conditions. The fund may be subject to a special assessment of up to approximately 2.5 times the fund's annual gross premium if covered losses exceed certain levels. During the period, the fund paid premiums of $46,194 for the calendar year 2000 to FIDFUNDS, which are being amortized over one year.
4. Expense Reductions.
Through an arrangement with the fund's custodian, credits realized as a result of uninvested cash balances were used to reduce a portion of the fund's expenses. During the period, the fund's custodian fees were reduced by $18,817 under this arrangement.
5. Beneficial Interest.
At the end of the period, all of the outstanding shares of the fund were held by mutual funds managed by FMR or an affiliate.
Semiannual Report
A special meeting of the fund's shareholders was held on December 13, 2000. The results of votes taken among shareholders on proposals before them are reported below. Each vote reported represents one dollar of net asset value held on the record date for the meeting.
PROPOSAL 1
To elect as Trustees the following twelve nominees.*
|
# of |
% of |
J. Michael Cook |
||
Affirmative |
34,936,748,947.94 |
100.000 |
Withheld |
0.00 |
0.000 |
TOTAL |
34,936,748,947.94 |
100.000 |
Ralph F. Cox |
||
Affirmative |
34,936,748,947.94 |
100.000 |
Withheld |
0.00 |
0.000 |
TOTAL |
34,936,748,947.94 |
100.000 |
Phyllis Burke Davis |
||
Affirmative |
34,936,748,947.94 |
100.000 |
Withheld |
0.00 |
0.000 |
TOTAL |
34,936,748,947.94 |
100.000 |
Robert M. Gates |
||
Affirmative |
34,936,748,947.94 |
100.000 |
Withheld |
0.00 |
0.000 |
TOTAL |
34,936,748,947.94 |
100.000 |
Edward C. Johnson 3d |
||
Affirmative |
34,936,748,947.94 |
100.000 |
Withheld |
0.00 |
0.000 |
TOTAL |
34,936,748,947.94 |
100.000 |
Donald J. Kirk |
||
Affirmative |
34,936,748,947.94 |
100.000 |
Withheld |
0.00 |
0.000 |
TOTAL |
34,936,748,947.94 |
100.000 |
|
# of |
% of |
Marie L. Knowles |
||
Affirmative |
34,936,748,947.94 |
100.000 |
Withheld |
0.000 |
0.000 |
TOTAL |
34,936,748,947.94 |
100.000 |
Ned C. Lautenbach |
||
Affirmative |
34,936,748,947.94 |
100.000 |
Withheld |
0.00 |
0.000 |
TOTAL |
34,936,748,947.94 |
100.000 |
Peter S. Lynch |
||
Affirmative |
34,936,748,947.94 |
100.000 |
Withheld |
0.00 |
0.000 |
TOTAL |
34,936,748,947.94 |
100.000 |
William O. McCoy |
||
Affirmative |
34,936,748,947.94 |
100.000 |
Withheld |
0.00 |
0.000 |
TOTAL |
34,936,748,947.94 |
100.000 |
Marvin L. Mann |
||
Affirmative |
34,936,748,947.94 |
100.000 |
Withheld |
0.00 |
0.000 |
TOTAL |
34,936,748,947.94 |
100.000 |
Robert C. Pozen |
||
Affirmative |
34,936,748,947.94 |
100.000 |
Withheld |
0.00 |
00.000 |
TOTAL |
34,936,748,947.94 |
100.000 |
PROPOSAL 2 |
||
To ratify the selection of PricewaterhouseCoopers LLP as independent accountants of the fund. |
||
|
# of |
% of |
Affirmative |
1,613,117,275.77 |
100.000 |
Against |
0.00 |
0.000 |
Abstain |
0.00 |
0.000 |
TOTAL |
1,613,117,275.77 |
100.000 |
PROPOSAL 3 |
||
To continue the effectiveness of Article VII, Section 7.04 of the Trust Instrument.* |
||
|
# of |
% of |
Affirmative |
34,936,748,947.94 |
100.000 |
Against |
0.00 |
0.000 |
Abstain |
0.00 |
0.000 |
TOTAL |
34,936,748,947.94 |
100.000 |
PROPOSAL 4 |
||
To authorize the Trustees to adopt an Amended and Restated Trust Instrument.* |
||
|
# of |
% of |
Affirmative |
34,936,748,947.94 |
100.000 |
Against |
0.00 |
0.000 |
Abstain |
0.00 |
0.000 |
TOTAL |
34,936,748,947.94 |
100.000 |
PROPOSAL 5 |
||
To approve an amended management contract that would allow future modifications of the contract without a shareholder vote if permitted by the 1940 Act. |
||
|
# of |
% of |
Affirmative |
1,613,117,275.77 |
100.000 |
Against |
0.00 |
0.000 |
Abstain |
0.00 |
0.000 |
TOTAL |
1,613,117,275.77 |
100.000 |
PROPOSAL 6 |
||
To eliminate the fundamental 80% investment policy and adopt a comparable non-fundamental policy. |
||
|
# of |
% of |
Affirmative |
1,613,117,275.77 |
100.000 |
Against |
0.00 |
0.000 |
Abstain |
0.00 |
0.000 |
TOTAL |
1,613,117,275.77 |
100.000 |
PROPOSAL 7 |
||
To amend the fundamental investment limitation concerning diversification. |
||
|
# of |
% of |
Affirmative |
1,613,117,275.77 |
100.000 |
Against |
0.00 |
0.000 |
Abstain |
0.00 |
0.000 |
TOTAL |
1,613,117,275.77 |
100.000 |
PROPOSAL 8 |
||
To amend the fundamental investment limitation concerning underwriting. |
||
|
# of |
% of |
Affirmative |
1,613,117,275.77 |
100.000 |
Against |
0.00 |
0.000 |
Abstain |
0.00 |
0.000 |
TOTAL |
1,613,117,275.77 |
100.000 |
*Denotes trust-wide proposals and voting results.
Semiannual Report
Semiannual Report
November 30, 2000
1.734009.102
(Unaudited)
Showing Percentage of Net Assets
Federal Agencies - 3.9% |
||||
Due Date |
Annualized Yield at Time of Purchase |
Principal |
Value |
|
Fannie Mae - 3.9% |
||||
Discount Notes - 3.9% |
||||
2/22/01 |
6.50% |
$ 100,000,000 |
$ 98,524,444 |
|
Time Deposits - 20.5% |
||||
|
||||
Firstar Bank NA |
||||
12/1/00 |
6.56 |
130,000,000 |
130,000,000 |
|
Key Bank National Association |
||||
12/1/00 |
6.56 |
130,000,000 |
130,000,000 |
|
Norwest Bank NA, Minnesota |
||||
12/1/00 |
6.57 |
130,000,000 |
130,000,000 |
|
Suntrust Bank |
||||
12/1/00 |
6.56 |
130,000,000 |
130,000,000 |
|
TOTAL TIME DEPOSITS |
520,000,000 |
Repurchase Agreements - 76.3% |
|||
Maturity |
|
||
In a joint trading account (U.S. Government Obligations) dated 11/30/00 due: |
|
|
|
12/1/00 At 6.55% |
$ 1,350,245,786 |
$ 1,350,000,000 |
|
12/1/00 At 6.55% |
274,049,853 |
274,000,000 |
|
2/5/01 At 6.54% |
101,217,167 |
100,000,000 |
|
In a joint trading account (U.S. Treasury Obligations) dated 11/30/00 due 12/1/00 At 6.49% |
207,764,470 |
207,727,000 |
|
TOTAL REPURCHASE AGREEMENTS |
1,931,727,000 |
||
TOTAL INVESTMENT PORTFOLIO - 100.7% |
2,550,251,444 |
||
NET OTHER ASSETS - (0.7)% |
(18,220,809) |
||
NET ASSETS - 100% |
$ 2,532,030,635 |
Total Cost for Income Tax Purposes $ 2,550,251,444 |
See accompanying notes which are an integral part of the financial statements.
Semiannual Report
Statement of Assets and Liabilities
|
November 30, 2000 (Unaudited) |
|
Assets |
|
|
Investment in securities, at value (including repurchase agreements of $1,931,727,000) - |
|
$ 2,550,251,444 |
Interest receivable |
|
445,746 |
Prepaid expenses |
|
1,443 |
Total assets |
|
2,550,698,633 |
Liabilities |
|
|
Payable to custodian bank |
$ 407 |
|
Distributions payable |
18,632,787 |
|
Other payables and accrued expenses |
34,804 |
|
Total liabilities |
|
18,667,998 |
Net Assets |
|
$ 2,532,030,635 |
Net Assets consist of: |
|
|
Paid in capital |
|
$ 2,532,031,634 |
Accumulated net realized gain (loss) on investments |
|
(999) |
Net Assets, for 2,532,024,997 shares outstanding |
|
$ 2,532,030,635 |
Net Asset Value, offering price and redemption price per share ($2,532,030,635 ÷ 2,532,024,997 shares) |
|
$1.00 |
See accompanying notes which are an integral part of the financial statements.
Semiannual Report
Financial Statements - continued
Statement of Operations
|
Six months ended November 30, 2000 (Unaudited) |
|
Investment Income Interest |
|
$ 156,516,031 |
Expenses |
|
|
Accounting fees and expenses |
$ 197,344 |
|
Non-interested trustees' compensation |
9,031 |
|
Custodian fees and expenses |
14,077 |
|
Audit |
9,171 |
|
Legal |
528 |
|
Insurance |
14,743 |
|
Total expenses before reductions |
244,894 |
|
Expense reductions |
(5,462) |
239,432 |
Net investment income |
|
156,276,599 |
Net Realized Gain (Loss) on Investments |
|
(999) |
Net increase in net assets resulting from operations |
|
$ 156,275,600 |
See accompanying notes which are an integral part of the financial statements.
Semiannual Report
Financial Statements - continued
Statement of Changes in Net Assets
|
Six months ended November 30, 2000 (Unaudited) |
July 1, 1999
(commencement |
Increase (Decrease) in Net Assets |
|
|
Operations |
$ 156,276,599 |
$ 262,658,240 |
Net realized gain (loss) |
(999) |
6,637 |
Net increase (decrease) in net assets resulting |
156,275,600 |
262,664,877 |
Distributions to shareholders from net investment income |
(156,276,599) |
(262,658,240) |
Share transactions at net asset value of $1.00 per share |
9,984,500,104 |
28,984,937,158 |
Cost of shares redeemed |
(14,076,308,772) |
(22,361,103,493) |
Net increase (decrease) in net assets and shares resulting from share transactions |
(4,091,808,668) |
6,623,833,665 |
Total increase (decrease) in net assets |
(4,091,809,667) |
6,623,840,302 |
Net Assets |
|
|
Beginning of period |
6,623,840,302 |
- |
End of period |
$ 2,532,030,635 |
$ 6,623,840,302 |
See accompanying notes which are an integral part of the financial statements.
Semiannual Report
Financial Highlights
|
Six months ended November 30, 2000 |
Year ended |
|
(Unaudited) |
2000 D |
Selected Per-Share Data |
|
|
Net asset value, beginning of period |
$ 1.000 |
$ 1.000 |
Income from Investment Operations |
.033 |
.051 |
Less Distributions |
|
|
From net investment income |
(.033) |
(.051) |
Net asset value, end of period |
$ 1.000 |
$ 1.000 |
Total Return B, C |
3.36% |
5.17% |
Ratios and Supplemental Data |
|
|
Net assets, end of period (000 omitted) |
$ 2,532,031 |
$ 6,623,840 |
Ratio of expenses to average net assets |
.0103% A |
.0093% A |
Ratio of expenses to average net assets |
.0100% A, E |
.0093% A |
Ratio of net investment income to average net assets |
6.55% A |
5.75% A |
A Annualized
B Total returns for periods of less than one year are not annualized.
C The total returns would have been lower had certain expenses not been reduced during the periods shown.
D For the period July 1, 1999 (commencement of operations) to May 31, 2000.
E FMR or the fund has entered into varying arrangements with third parties who either paid or reduced a portion of the fund's expenses.
See accompanying notes which are an integral part of the financial statements.
Semiannual Report
For the period ended November 30, 2000 (Unaudited)
1. Significant Accounting Policies.
Fidelity Securities Lending Cash Central Fund (the fund) (formerly Central Cash Collateral Fund) is a fund of Fidelity Revere Street Trust (the trust) and is authorized to issue an unlimited number of shares. The trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Delaware business trust. Shares of the fund are only offered to other investment companies and accounts (the investing funds) managed by Fidelity Management & Research Company (FMR), or its affiliates. The financial statements have been prepared in conformity with generally accepted accounting principles which require management to make certain estimates and assumptions at the date of the financial statements. The following summarizes the significant accounting policies of the fund:
Security Valuation. As permitted under Rule 2a-7 of the 1940 Act, and certain conditions therein, securities are valued initially at cost and thereafter assume a constant amortization to maturity of any discount or premium.
Income Taxes. As a qualified regulated investment company under Subchapter M of the Internal Revenue Code, the fund is not subject to income taxes to the extent that it distributes substantially all of its taxable income for its fiscal year.
Investment Income. Interest income, which includes amortization of premium and accretion of discount, is accrued as earned.
Expenses. Most expenses of the trust can be directly attributed to a fund. Expenses which cannot be directly attributed are apportioned among the funds in the trust.
Distributions to Shareholders. Dividends are declared daily and paid monthly from net investment income.
Security Transactions. Security transactions are accounted for as of trade date. Gains and losses on securities sold are determined on the basis of identified cost.
2. Operating Policies.
Joint Trading Account. Pursuant to an Exemptive Order issued by the Securities and Exchange Commission (the SEC), the fund, along with other affiliated entities of FMR, may transfer uninvested cash balances into one or more joint trading accounts. These balances are invested in one or more repurchase agreements for U.S. Treasury or Federal Agency obligations.
Repurchase Agreements. The underlying U.S. Treasury, Federal Agency, or other obligations found to be satisfactory by Fidelity Investments Money Management, Inc. (FIMM), are transferred to an account of the fund, or to the Joint Trading Account, at a custodian bank. The securities are marked-to-market daily and maintained at a value at least equal to the principal amount of the repurchase agreement (including accrued interest). FIMM, the fund's investment adviser, is responsible for determining that the value of the underlying securities remains in accordance with the market value requirements stated above.
Semiannual Report
Notes to Financial Statements (Unaudited) - continued
3. Joint Trading Account.
At the end of the period, the fund had 20% or more of its total investments in repurchase agreements through a joint trading account. These repurchase
agreements were with entities whose creditworthiness has been reviewed and found satisfactory by FIMM. The investments in repurchase agreements through the joint trading account are summarized as follows:
Summary of Joint Trading
Dated November 30, 2000, due December 1, 2000 |
6.49% |
Number of dealers or banks |
4 |
Maximum amount with one dealer or bank |
73.8% |
Aggregate principal amount of agreements |
$685,784,000 |
Aggregate maturity amount of agreements |
$685,907,704 |
Aggregate market value of transferred assets |
$699,894,648 |
Coupon rates of transferred assets |
5.5% to 8.88% |
Maturity dates of transferred assets |
10/31/01 to 8/15/28 |
Dated November 30, 2000, due December 1, 2000 |
6.55% |
Number of dealers or banks |
18 |
Maximum amount with one dealer or bank |
13.3% |
Aggregate principal amount of agreements |
$15,021,000,000 |
Aggregate maturity amount of agreements |
$15,023,734,782 |
Aggregate market value of transferred assets |
$15,377,822,738 |
Coupon rates of transferred assets |
0% to 14.5% |
Maturity dates of transferred assets |
12/1/00 to 10/1/40 |
Dated November 30, 2000, due December 1, 2000 |
6.55% |
Number of dealers or banks |
2 |
Maximum amount with one dealer or bank |
50.0% |
Aggregate principal amount of agreements |
$500,000,000 |
Aggregate maturity amount of agreements |
$500,090,972 |
Aggregate market value of transferred assets |
$510,025,288 |
Coupon rates of transferred assets |
0% to 10.35% |
Maturity dates of transferred assets |
12/26/00 to 10/1/38 |
Semiannual Report
Notes to Financial Statements (Unaudited) - continued
3. Joint Trading Account - continued
Summary of Joint Trading - continued
Dated November 30, 2000, due February 5, 2001 |
6.54% |
Number of dealers or banks |
1 |
Maximum amount with one dealer or bank |
100% |
Aggregate principal amount of agreements |
$250,000,000 |
Aggregate maturity amount of agreements |
$253,042,917 |
Aggregate market value of transferred assets |
$255,002,889 |
Coupon rate of transferred assets |
7.13% |
Maturity date of transferred assets |
11/15/01 |
4. Fees and Other Transactions with Affiliates.
Management Fee. As the fund's investment adviser, FIMM, a wholly owned subsidiary of FMR, receives a monthly management fee from FMR. For the services of FIMM under the management contract, FMR, on behalf of the fund, pays FIMM a monthly management fee.
Fidelity Investments Institutional Operations Company, Inc. (FIIOC), an affiliate of FMR, is the fund's transfer, dividend disbursing and shareholder servicing agent. FIIOC does not receive any fees for its transfer agency services. Fidelity Service Company, Inc., also an affiliate of FMR, maintains the fund's accounting records.
Accounting Fees. Fidelity Service Company, Inc. (FSC), an affiliate of FMR, maintains the fund's accounting records. The fee is based on the level of average net assets for the month plus out-of-pocket expenses.
Money Market Insurance. Pursuant to an Exemptive Order issued by the SEC, the fund, along with other money market funds advised by FMR or its affiliates, has entered into insurance agreements with FIDFUNDS Mutual Limited (FIDFUNDS), an affiliated mutual insurance company. FIDFUNDS provides limited coverage for certain loss events including issuer default as to payment of principal or interest and bankruptcy or insolvency of a credit enhancement provider. The insurance does not cover losses resulting from changes in interest rates, ratings downgrades or other market conditions. The fund may be subject to a special assessment of up to approximately 2.5 times the fund's annual gross premium if covered losses exceed certain levels. During the period, the fund paid premiums of $17,316 for the calendar year 2000 to FIDFUNDS, which are being amortized over one year.
Semiannual Report
Notes to Financial Statements (Unaudited) - continued
5. Expense Reductions.
Through an arrangement with the fund's custodian, credits realized as a result of uninvested cash balances were used to reduce a portion of the fund's expenses. During the period, the fund's custodian fees were reduced by $5,462 under this arrangement.
6. Beneficial Interest.
At the end of the period, all of the outstanding shares of the fund were held by mutual funds managed by FMR or an affiliate.
Semiannual Report
A special meeting of the fund's shareholders was held on December 13, 2000. The results of votes taken among shareholders on proposals before them are reported below. Each vote reported represents one dollar of net asset value held on the record date for the meeting.
PROPOSAL 1
To elect as Trustees the following twelve nominees.*
|
# of |
% of |
J. Michael Cook |
||
Affirmative |
34,936,748,947.94 |
100.000 |
Withheld |
0.00 |
0.000 |
TOTAL |
34,936,748,947.94 |
100.000 |
Ralph F. Cox |
||
Affirmative |
34,936,748,947.94 |
100.000 |
Withheld |
0.00 |
0.000 |
TOTAL |
34,936,748,947.94 |
100.000 |
Phyllis Burke Davis |
||
Affirmative |
34,936,748,947.94 |
100.000 |
Withheld |
0.00 |
0.000 |
TOTAL |
34,936,748,947.94 |
100.000 |
Robert M. Gates |
||
Affirmative |
34,936,748,947.94 |
100.000 |
Withheld |
0.00 |
0.000 |
TOTAL |
34,936,748,947.94 |
100.000 |
Edward C. Johnson 3d |
||
Affirmative |
34,936,748,947.94 |
100.000 |
Withheld |
0.00 |
0.000 |
TOTAL |
34,936,748,947.94 |
100.000 |
Donald J. Kirk |
||
Affirmative |
34,936,748,947.94 |
100.000 |
Withheld |
0.00 |
0.000 |
TOTAL |
34,936,748,947.94 |
100.000 |
|
# of |
% of |
Marie L. Knowles |
||
Affirmative |
34,936,748,947.94 |
100.000 |
Withheld |
0.000 |
0.000 |
TOTAL |
34,936,748,947.94 |
100.000 |
Ned C. Lautenbach |
||
Affirmative |
34,936,748,947.94 |
100.000 |
Withheld |
0.00 |
0.000 |
TOTAL |
34,936,748,947.94 |
100.000 |
Peter S. Lynch |
||
Affirmative |
34,936,748,947.94 |
100.000 |
Withheld |
0.00 |
0.000 |
TOTAL |
34,936,748,947.94 |
100.000 |
William O. McCoy |
||
Affirmative |
34,936,748,947.94 |
100.000 |
Withheld |
0.00 |
0.000 |
TOTAL |
34,936,748,947.94 |
100.000 |
Marvin L. Mann |
||
Affirmative |
34,936,748,947.94 |
100.000 |
Withheld |
0.00 |
0.000 |
TOTAL |
34,936,748,947.94 |
100.000 |
Robert C. Pozen |
||
Affirmative |
34,936,748,947.94 |
100.000 |
Withheld |
0.00 |
0.000 |
TOTAL |
34,936,748,947.94 |
100.000 |
PROPOSAL 2 |
||
To ratify the selection of PricewaterhouseCoopers LLP as independent accountants of the fund. |
||
|
# of |
% of |
Affirmative |
3,657,720,637.46 |
100.000 |
Against |
0.00 |
0.000 |
Abstain |
0.00 |
0.000 |
TOTAL |
3,657,720,637.46 |
100.000 |
PROPOSAL 3 |
||
To continue the effectiveness of Article VII, Section 7.04 of the Trust Instrument.* |
||
|
# of |
% of |
Affirmative |
34,936,748,947.94 |
100.000 |
Against |
0.00 |
0.000 |
Abstain |
0.00 |
0.000 |
TOTAL |
34,936,748,947.94 |
100.000 |
PROPOSAL 4 |
||
To authorize the Trustees to adopt an Amended and Restated Trust Instrument.* |
||
|
# of |
% of |
Affirmative |
34,936,748,947.94 |
100.000 |
Against |
0.00 |
0.000 |
Abstain |
0.00 |
0.000 |
TOTAL |
34,936,748,947.94 |
100.000 |
PROPOSAL 8 |
||
To amend the fundamental investment limitation concerning underwriting. |
||
|
# of |
% of |
Affirmative |
3,657,720,637.46 |
100.000 |
Against |
0.00 |
00.000 |
Abstain |
0.00 |
00.000 |
TOTAL |
3,657,720,637.46 |
100.000 |
*Denotes trust-wide proposals and voting results.
Semiannual Report
|