FIDELITY MONEY MARKET TRUST
RETIREMENT MONEY MARKET PORTFOLIO
ANNUAL REPORT
AUGUST 31, 1994
FIDELITY MONEY MARKET TRUST: RETIREMENT MONEY MARKET PORTFOLIO
INVESTMENTS/AUGUST 31, 1994
(SHOWING PERCENTAGE OF TOTAL VALUE OF INVESTMENTS)
ANNUALIZED ANNUALIZED
YIELD AT YIELD AT
DUE TIME OF PRINCIPAL VALUE DUE TIME OF PRINCIPAL VALUE
DATE PURCHASE AMOUNT (NOTE 1) DATE PURCHASE AMOUNT (NOTE 1)
Bankers' Acceptances - 0.5%
DOMESTIC BANKERS ACCEPTANCE - 0.2%
Chase Manhattan Bank
9/6/94 4.52% $ 5,986,761 $ 5,983,019
NEW YORK BRANCH, YANKEE DOLLAR, FOREIGN BANKS - 0.3%
Fuji Bank, Ltd.
9/8/94 4.76 1,000,000 999,076
Sanwa Bank, Ltd.
11/28/94 5.03 6,800,000 6,718,052
7,717,128
TOTAL BANKERS' ACCEPTANCES 13,700,147
Certificates of Deposit - 22.0%
DOMESTIC CERTIFICATES OF DEPOSIT - 1.9%
Household Bank, N.A.
9/1/94 4.70 5,000,000 5,000,000
NBD Bank, N.A.
9/16/94 4.75 13,000,000 12,999,286
Old Kent Bank & Trust Co.
2/27/95 5.25 10,000,000 10,000,000
Trust Company Bank
1/31/95 3.76 30,000,000 29,959,795
57,959,081
NEW YORK BRANCH, YANKEE DOLLAR, FOREIGN BANKS - 18.3%
Bank of Nova Scotia
9/1/94 4.64 15,000,000 15,000,000
Bank of Tokyo
12/19/94 4.96 20,000,000 20,000,595
Banque Nationale de Paris
9/13/94 4.71 10,000,000 10,000,066
Caisse Nationale de Credit Agricole
9/8/94 4.84 (a) 20,000,000 20,001,264
Dai-Ichi Kangyo Bank, Ltd.
9/21/94 4.59 10,000,000 10,000,276
Fuji Bank, Ltd.
9/1/94 4.50 20,000,000 20,000,000
10/3/94 4.81 25,000,000 25,000,000
Industrial Bank of Japan, Ltd.
9/1/94 4.41 50,000,000 50,000,000
Mitsubishi Bank, Ltd.
9/30/94 4.85 20,000,000 19,993,851
12/28/94 5.00 50,000,000 50,000,000
Rabobank Nederland, N.V.
10/17/94 4.83 3,000,000 2,997,837
Sakura Bank, Ltd.
9/7/94 4.46% $ 25,000,000 $ 25,000,000
Sanwa Bank, Ltd.
9/6/94 4.45 15,000,000 15,000,021
10/3/94 4.83 50,000,000 50,000,000
11/18/94 4.90 15,000,000 15,001,926
Societe Generale
9/1/94 4.00 16,000,000 16,000,000
11/15/94 4.86 45,000,000 45,000,000
1/17/95 5.18 20,000,000 20,000,000
1/18/95 5.18 10,000,000 10,000,000
Sumitomo Bank, Ltd.
9/1/94 4.52 10,000,000 10,000,000
11/16/94 4.87 25,000,000 25,000,000
11/16/94 4.90 25,000,000 25,000,000
Swiss Bank Corp.
9/1/94 4.69 50,000,000 50,000,000
548,995,836
LONDON BRANCH, EURODOLLAR, FOREIGN BANKS - 1.8%
Barclays Bank, PLC
11/30/94 5.00 18,000,000 17,992,131
Mitsubishi Bank, Ltd.
9/22/94 4.58 10,000,000 9,999,563
11/16/94 5.25 15,000,000 15,000,308
Sumitomo Bank, Ltd.
12/22/94 5.01 10,000,000 10,000,306
52,992,308
TOTAL CERTIFICATES 659,947,225
Commercial Paper - 32.9%
Associates Corp. of North America
9/9/94 4.71 40,000,000 39,958,222
11/14/94 4.91 10,000,000 9,900,306
BNP U.S. Finance Corp.
1/6/95 5.21 15,000,000 14,731,183
Bear Stearns Cos., Inc.
9/19/94 4.48 20,000,000 19,955,500
9/19/94 4.50 15,000,000 14,966,475
Beneficial Corp.
9/14/94 4.47 10,000,000 9,983,931
9/29/94 4.77 25,000,000 24,907,639
CIT Group Holdings, Inc.
9/6/94 3.53 5,000,000 4,997,604
9/15/94 4.48 10,000,000 9,982,656
Canadian Wheat Board
2/10/95 5.23 15,000,000 14,655,750
ANNUALIZED ANNUALIZED
YIELD AT YIELD AT
DUE TIME OF PRINCIPAL VALUE DUE TIME OF PRINCIPAL VALUE
DATE PURCHASE AMOUNT (NOTE 1) DATE PURCHASE AMOUNT (NOTE 1)
Commercial Paper - CONTINUED
Commercial Credit Co.
9/13/94 4.47% $ 25,000,000 $ 24,962,917
10/28/94 4.83 20,000,000 19,848,317
Concord Leasing, Inc. (LOC Hong Kong & Shanghai Banking Corp.)
9/6/94 4.46 10,000,000 9,993,833
Credit Lyonnais North America
11/7/94 5.00 5,000,000 4,954,217
Dean Witter, Discover & Co.
11/15/94 4.91 30,000,000 29,696,875
Exxon Asset Management Co.
10/17/94 4.80 30,000,000 29,817,150
Ford Motor Credit, PLC
11/15/94 4.93 25,000,000 24,746,354
Ford Motor Credit Corp.
9/14/94 4.64 10,000,000 9,983,389
9/26/94 4.75 25,000,000 24,918,924
10/12/94 4.80 20,000,000 19,891,350
11/17/94 4.91 50,000,000 49,481,319
1/17/95 5.13 10,000,000 9,808,333
GTE Corp.
9/9/94 4.81 23,500,000 23,474,933
9/19/94 4.85 7,000,000 6,983,060
General Electric Capital Corp.
9/6/94 4.45 (a) 15,000,000 15,000,000
9/15/94 4.46 (a) 10,000,000 10,000,000
10/5/94 3.43 10,000,000 9,968,361
10/6/94 3.43 10,000,000 9,967,431
12/12/94 5.02 5,000,000 4,930,300
1/11/95 5.58 10,000,000 9,802,917
1/26/95 5.27 5,000,000 4,895,467
2/10/95 5.24 25,000,000 24,426,250
General Electric Capital Services Inc.
12/12/94 5.06 15,000,000 14,789,625
General Motors Acceptance Corp.
9/6/94 4.58 5,000,000 4,996,854
10/24/94 4.89 30,000,000 29,785,792
10/27/94 4.81 20,000,000 19,852,222
Goldman Sachs Group, L.P. (The)
9/6/94 4.71 30,000,000 29,980,542
Household Finance Corp.
9/6/94 4.50 10,000,000 9,993,819
11/14/94 4.91 10,000,000 9,900,306
IBM Corp.
9/12/94 4.53 1,000,000 998,625
10/25/94 4.88 10,000,000 9,927,400
ITT Corp.
9/16/94 4.58% $ 10,000,000 $ 9,981,042
ITT Financial
10/24/94 4.89 5,000,000 4,964,299
Merrill Lynch & Co., Inc.
10/17/94 4.80 44,000,000 43,730,133
Morgan Stanley Group, Inc.
9/1/94 4.69 10,000,000 10,000,000
NationsBank Corp.
11/15/94 4.91 25,000,000 24,747,396
New Center Asset Trust
10/24/94 4.86 25,000,000 24,822,597
11/14/94 4.88 10,000,000 9,900,922
11/21/94 4.94 20,000,000 19,780,400
PNC Financial/PNC Funding
10/11/94 4.34 10,000,000 9,952,778
Prudential Funding Corp.
12/2/94 5.00 10,000,000 9,874,778
Prudential Home Mortgage Co.
9/19/94 4.48 20,000,000 19,955,500
11/14/94 4.93 10,000,000 9,899,894
Sears Roebuck Acceptance Corp.
10/20/94 4.92 8,300,000 8,244,870
Smith Barney, Inc.
10/17/94 4.88 2,000,000 1,987,631
Student Loan Corporation
9/6/94 4.49 12,500,000 12,492,240
9/6/94 4.50 25,000,000 24,984,462
Textron, Inc.
9/1/94 4.59 5,000,000 5,000,000
9/1/94 4.60 5,515,000 5,515,000
Unocal Corp.
9/7/94 4.54 8,000,000 7,993,973
9/9/94 4.62 4,532,000 4,527,367
Whirlpool Financial Corp.
9/1/94 4.95 16,500,000 16,500,000
9/12/94 4.69 10,000,000 9,985,792
Woolwich Equitable Building Society
10/19/94 4.71 20,000,000 19,876,000
TOTAL COMMERCIAL PAPER 986,533,222
Federal Agencies - 6.2%
FEDERAL HOME LOAN MORTGAGE CORP. - DISCOUNT NOTES - 0.8%
11/7/94 4.80 25,000,000 24,778,993
FEDERAL NATIONAL MORTGAGE ASSOC. - DISCOUNT NOTES - 4.4%
10/17/94 3.39 5,000 4,979
10/27/94 4.69 10,000,000 9,927,822
ANNUALIZED ANNUALIZED
YIELD AT YIELD AT
DUE TIME OF PRINCIPAL VALUE DUE TIME OF PRINCIPAL VALUE
DATE PURCHASE AMOUNT (NOTE 1) DATE PURCHASE AMOUNT (NOTE 1)
Federal Agencies - CONTINUED
FEDERAL NATIONAL MORTGAGE ASSOC. - DISCOUNT NOTES - CONTINUED
2/3/95 5.08% $ 50,000,000 $ 48,930,069
3/1/95 5.12 25,000,000 24,372,785
3/2/95 4.84 30,000,000 29,244,700
3/3/95 5.10 20,000,000 19,494,717
131,975,072
INTERNATIONAL BANK OF RECONSTRUCTION AND DEVELOPMENT -
DISCOUNT NOTES - 1.0%
12/27/94 3.54 10,000,000 9,888,850
12/30/94 3.57 20,000,000 19,770,000
29,658,850
TOTAL FEDERAL AGENCIES 186,412,915
U.S. Treasury Obligations - 2.3%
U.S. Treasury Bills
1/12/95 3.52 20,000,000 19,748,408
1/12/95 3.55 20,000,000 19,746,561
1/12/95 3.59 10,000,000 9,871,803
3/2/95 5.00 20,000,000 19,499,500
TOTAL U.S. TREASURY OBLIGATIONS 68,866,272
Bank Notes - 8.1%
Bank of New York
9/1/94 5.46 (a) 10,000,000 9,996,989
Bank of New York (Delaware)
9/6/94 4.57 (a) 15,000,000 15,000,000
Bank One - Dayton
9/1/94 5.46 (a) 15,000,000 15,000,000
Bank One - Milwaukee
9/1/94 4.40 (a) 25,000,000 24,987,466
Boatmen's National Bank, St. Louis
9/1/94 4.86 (a) 25,000,000 24,995,363
Comerica Bank - Detroit
9/1/94 5.46 (a) 10,000,000 10,000,000
9/1/94 5.47 (a) 10,000,000 9,996,863
First National Bank of Boston
9/30/94 4.65 12,000,000 12,000,000
Huntington Bank
9/1/94 4.85 (a) 10,000,000 9,991,534
Key Bank of New York
9/1/94 4.86 (a) 20,000,000 19,981,340
PNC Bank, N.A.
9/6/94 4.86 (a) 25,000,000 24,973,041
9/7/94 4.90 (a) 25,000,000 24,965,750
11/10/94 4.74 10,000,000 9,977,746
1/20/95 3.69 10,000,000 9,994,708
Society National Bank
9/1/94 5.47% (a) $ 20,000,000 $ 19,993,699
TOTAL BANK NOTES 241,854,499
Master Notes (a) - 3.0%
J.P. Morgan Securities
9/1/94 5.11 33,000,000 33,000,000
9/1/94 5.13 29,000,000 29,000,000
Morgan Stanley Group Inc. (c)
9/1/94 5.08 15,000,000 15,000,000
Norwest Corp.
9/1/94 4.82 14,000,000 14,000,000
TOTAL MASTER NOTES 91,000,000
Medium-Term Notes - 8.9%
Abbey National (UK), PLC (b)
9/1/94 5.48 (a) 10,000,000 9,998,707Abbey National Treasury Service (b)
9/30/94 4.77 (a) 74,000,000 74,000,000
Beneficial Corp.
9/15/94 4.82 (a) 15,000,000 14,996,388
General Motors Acceptance Corp.
11/7/94 4.86 20,000,000 20,000,000
Goldman Sachs Group, L.P. (The) (b)
9/1/94 4.48 (a) 17,000,000 17,000,000
12/13/94 4.97 13,000,000 12,891,804
12/16/94 4.91 (a) 15,000,000 15,000,000
Kingdom of Sweden - A (b)
9/23/94 4.81 (a) 12,500,000 12,500,000
Kingdom of Sweden - B (b)
9/23/94 5.00 (a) 12,500,000 12,500,000
Kingdom of Sweden - C (b)
9/23/94 4.63 (a) 12,500,000 12,500,000
Merrill Lynch & Co., Inc.
9/1/94 4.83 (a) 10,000,000 10,000,000
Norwest Corp.
9/15/94 4.54 (a) 22,000,000 22,000,000
PHH Corp.
9/1/94 5.44 (a) 15,000,000 15,000,000
Swedish National Housing Finance Corp. - A (b)
11/23/94 4.59 (a) 6,000,000 6,000,000
Swedish National Housing Finance Corp. - B (b)
11/23/94 5.03 (a) 6,000,000 6,000,000
Swedish National Housing Finance Corp. - C (b)
11/23/94 4.97 (a) 6,000,000 6,000,000
TOTAL MEDIUM NOTES 266,386,899
ANNUALIZED
YIELD AT
DUE TIME OF PRINCIPAL VALUE MATURITY VALUE
DATE PURCHASE AMOUNT (NOTE 1) AMOUNT (NOTE 1)
Short-Term Notes (a) (c) - 4.4%
CSA Funding - A
9/8/94 4.94% $ 6,000,000 $ 6,000,000
CSA Funding - B
9/8/94 4.94 5,000,000 5,000,000
SMM Trust Company (1994-A)
9/18/94 4.57 76,000,000 76,000,000
9/18/94 4.68 14,000,000 13,991,713
SMM Trust Company (1994-D)
10/28/94 4.84 15,000,000 15,000,000
SMM Trust Company (1994-E)
10/13/94 4.64 4,000,000 4,000,000
10/13/94 4.73 7,000,000 6,996,462
SMM Trust Company (1994-F)
11/15/94 4.91 5,000,000 5,000,000
TOTAL SHORT-TERM NOTES 131,988,175
Time Deposits - 5.2%
Bank of Tokyo
9/23/94 4.81 10,000,000 10,000,000
Dai-Ichi Kangyo Bank, Ltd.
9/6/94 4.50 25,000,000 25,000,000
9/30/94 4.81 15,000,000 15,000,000
Deutsche Bank, A.G.
9/6/94 4.75 25,000,000 25,000,000
Mitsubishi Bank, Ltd.
10/3/94 4.30 30,000,000 30,000,000
Society National Bank
9/1/94 4.94 50,000,000 50,000,000
TOTAL TIME DEPOSITS 155,000,000
Municipal Bonds (a) - 1.9%
Harris County Texas Health Facilities Authority
9/2/94 4.50 25,000,000 25,000,000
Illinois Student Assistance Commission
9/8/94 4.99 15,000,000 15,000,000
Missouri Economic Development Export & Infrastructure
9/8/94 5.00 8,200,000 8,200,000
Texas General Obligation
9/8/94 4.82 9,000,000 9,000,000
TOTAL MUNICIPAL BONDS 57,200,000
Repurchase Agreements - 4.6%
With First Boston Corporation:
At 4.80%, dated 8/23/94 due 10/4/94:
U.S. Government Obligations
(principal amount $51,638,537)
0% to 10%,
8/1/96 to 8/1/20 $ 50,280,000 $ 50,000,000
With Goldman, Sachs & Co.:
At 4.75%, dated 8/30/94 due 9/7/94:
U.S. Government Obligations
(principal amount $25,750,000)
3.832% to 6.50%,
12/1/23 to 4/1/34 25,026,389 25,000,000
At 4.75%, dated 8/30/94 due 9/20/94:
U.S. Government Obligations
(principal amount $21,630,000)
3.832% to 6.50%,
12/1/23 to 4/1/34 21,058,188 21,000,000
In a joint trading account
(U.S. Government Obligations)
dated 8/31/94, due 9/1/94
(Note 2)
At 4.89% 40,646,523 40,641,000
TOTAL REPURCHASE AGREEMENTS 136,641,000
TOTAL INVESTMENTS - 100% $ 2,995,530,354
Total Cost for Income Tax Purposes - $2,995,530,354
LEGEND:
(a) The coupon rate shown on floating or adjustable rate securities
represents the rate at period end. The due date on these types of
securities reflects the next interest rate reset date or when applicable,
the final maturity date.
(b) Security exempt from registration under Rule 144A of the Securities Act
of 1933. These securities may be resold in transactions exempt from
registration, normally to qualified institutional buyers. At the period
end, the value of these securities amounted to $184,390,511 or 6.6% of net
assets.
(c) Restricted securities - Investment in securities not registered under
the Securities Act of 1933 (see Note 2 of Notes to Financial Statements).
Additional information on each holding is as follows:
ACQUISITION ACQUISITION
SECURITY DATE COST
CSA Funding - A 10/28/93 $ 6,000,000
CSA Funding - B 10/28/93 $ 5,000,000
Morgan Stanley Group, Inc 2/1/94 $ 15,000,000
SMM Trust Company:
(1994-A) 6/28/94 $ 90,000,000
(1994-E) 4/13/94 $ 4,000,000
(1994-E) 5/23/94 $ 6,994,869
(1994-D) 4/28/94 $ 15,000,000
(1994-F) 11/15/93 $ 5,000,000
INCOME TAX INFORMATION:
At August 31, 1994 the fund had a capital loss carryforward of
approximately $394,000 of which $23,000 and $371,000 will expire on August
31, 2001 and 2002, respectively.
Statement of Assets and Liabilities
DRAFT
<TABLE>
<CAPTION>
<S> <C> <C>
August 31, 1994
ASSETS
Investment in securities, at value (including repurchase agreements of $136,641,000) - See accompanying $ 2,995,530,354
schedule
Receivable for investments sold 48,804,400
Interest receivable 8,531,768
TOTAL ASSETS 3,052,866,522
LIABILITIES
Payable for investments $ 239,420,400
purchased
Share transactions in process 12,365,712
Dividends payable 123,459
Accrued management fee 1,031,881
TOTAL LIABILITIES 252,941,452
NET ASSETS $ 2,799,925,070
Net Assets consist of:
Paid in capital $ 2,800,246,854
Accumulated net realized gain (loss) on investments (321,784)
NET ASSETS, for 2,800,246,854 shares outstanding $ 2,799,925,070
NET ASSET VALUE, offering price and redemption price per share ($2,799,925,070 (divided by) $1.00
shares)
</TABLE>
Statement of Operations
DRAFT
<TABLE>
<CAPTION>
<S> <C> <C>
Year Ended August 31, 1994
INTEREST INCOME $ 86,309,591
EXPENSES
Management fee $ 9,368,441
Non-interested trustees' 12,876
compensation
TOTAL EXPENSES 9,381,317
NET INTEREST INCOME 76,928,274
NET REALIZED GAIN (LOSS) ON (371,025)
INVESTMENTS
NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS $ 76,557,249
</TABLE>
Statement of Changes in Net Assets
DRAFT
<TABLE>
<CAPTION>
<S> <C> <C>
YEARS ENDED AUGUST 31,
1994 1993
INCREASE (DECREASE) IN NET ASSETS
Operations $ 76,928,274 $ 50,729,790
Net interest income
Net realized gain (loss) (371,025) (22,769)
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS76,557,249 50,707,021
Dividends to shareholders from net interest income (76,928,274) 50,729,790
Share transactions at net asset value of $1.00 per share 3,101,024,376 1,812,862,984
Proceeds from sales of shares
Reinvestment of dividends from net interest income 76,517,935 50,425,170
Cost of shares redeemed (2,083,212,672) (1,673,644,665)
Net increase (decrease) in net assets and shares resulting
from share transactions 1,094,329,639 189,643,489
TOTAL INCREASE (DECREASE) IN NET ASSETS 1,093,958,614 189,620,720
NET ASSETS
Beginning of period 1,705,966,456 1,516,345,736
End of period $ 2,799,925,070 $ 1,705,966,456
</TABLE>
FINANCIAL HIGHLIGHTS
DRAFT
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C>
YEARS ENDED AUGUST 31, TEN MONTHS YEARS ENDED OCTOBER 31
ENDED ,
AUGUST 31,
1994 1993 1992 1991 1990
SELECTED PER-SHARE DATA
Net asset value, beginning of period $ 1.000 $ 1.000 $ 1.000 $ 1.000 $ 1.000
Income from Investment Operations .034 .030 .035 .063 .080
Net interest income
Less Distributions (.034) (.030) (.035) (.063) (.080)
From net interest income
Net asset value, end of period $ 1.000 $ 1.000 $ 1.000 $ 1.000 $ 1.000
TOTAL RETURN B 3.41% 3.09% 3.50% 6.52% 8.27%
RATIOS AND SUPPLEMENTAL DATA
Net assets, end of period (000 omitted) $ 2,799,925 $ 1,705,966 $ 1,516,346 $ 1,287,650 $ 622,774
Ratio of expenses to average net assets .42% .42% .42%A .42% .42%
Ratio of net interest income to average
net assets 3.44% 3.05% 4.12%A 6.19% 7.95%
</TABLE>
A ANNUALIZED
B TOTAL RETURNS FOR PERIODS OF LESS THAN ONE YEAR ARE NOT ANNUALIZED.
NOTES TO FINANCIAL STATEMENTS
FOR THE PERIOD ENDED AUGUST 31, 1994
1. SIGNIFICANT ACCOUNTING POLICIES.
Retirement Money Market Portfolio (the fund) is a fund of Fidelity Money
Market 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 Massachusetts business trust. 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 all of its taxable income for its fiscal
year. The schedule of investments includes information regarding income
taxes under the caption "Income Tax Information."
INTEREST INCOME. Interest income, which includes amortization of premium
and accretion of original issue 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 between the
funds in the trust.
DISTRIBUTIONS TO SHAREHOLDERS. Dividends are declared daily and paid
monthly from net interest 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.
REPURCHASE AGREEMENTS. The fund, through its custodian, receives delivery
of the underlying securities, whose market value is required to be at least
102% of the resale price at the time of purchase. The fund's investment
adviser, Fidelity Management & Research Company (FMR), is responsible for
determining that the value of these underlying securities remains at least
equal to the resale price.
JOINT TRADING ACCOUNT. Pursuant to an Exemptive Order issued by the
Securities and Exchange Commission, 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 that mature in 60 days or less from the date of
purchase, and are collateralized by U.S. Treasury or Federal Agency
obligations.
RESTRICTED SECURITIES. The fund is permitted to invest in privately placed
restricted securities. These securities 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, restricted securities (excluding 144A issues) amounted
to $146,988,175 or 5.2% of net assets for the fund.
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. FEES AND OTHER TRANSACTIONS WITH AFFILIATES.
MANAGEMENT FEE. As the fund's investment adviser, FMR pays all expenses
except the compensation of the non-interested Trustees and certain
exceptions such as interest, taxes, brokerage commissions and extraordinary
expenses. FMR receives a fee that is computed daily at an annual rate of
.42% of the fund's average net assets.
3. FEES AND OTHER TRANSACTIONS WITH AFFILIATES - CONTINUED
SUB-ADVISER FEE. As the fund's investment sub-adviser, FMR Texas Inc., a
wholly owned subsidiary of FMR, receives a fee from FMR of 50% of the
management fee payable to FMR. The fee is paid prior to any voluntary
expense reimbursements which may be in effect, and after reducing the fee
for any payments by FMR pursuant to the fund's Distribution and Service
Plan.
4. INTERFUND LENDING PROGRAM.
The fund participated in the interfund lending program as a lender. The
maximum loan and the average daily loan balances during the periods for
which loans were outstanding amounted to $16,983,000 and $8,020,600,
respectively. The weighted average interest rate was 4.08%. Interest earned
from the interfund lending program amounted to $5,489 and is included in
interest income on the Statement of Operations.
REPORT OF INDEPENDENT ACCOUNTANTS
To the Trustees of Fidelity Money Market Trust and the Shareholders of
Retirement Money Market Portfolio:
We have audited the accompanying statement of assets and liabilities of
Fidelity Money Market Trust: Retirement Money Market Portfolio, including
the schedule of portfolio investments, as of August 31, 1994, and the
related statement of operations for the year then ended, the statement of
changes in net assets for each of the two years in the period then ended,
and the financial highlights for each of the two years in the period then
ended, the ten month period ended August 31, 1992, and for each of the two
years in the period ended October 31, 1991.These financial statements and
financial highlights are the responsibility of the Trust's management. Our
responsibility is to express an opinion on these financial statements and
financial highlights based on our audits.
We conducted our audits in accordance with generally accepted auditing
standards. Those standards require that we plan and perform the audit to
obtain reasonable assurance about whether the financial statements and
financial highlights are free of material misstatement. An audit includes
examining, on a test basis, evidence supporting the amounts and disclosures
in the financial statements. Our procedures included confirmation of
securities owned as of August 31, 1994 by correspondence with the custodian
and brokers. An audit also includes assessing the accounting principles
used and significant estimates made by management, as well as evaluating
the overall financial statement presentation. We believe that our audits
provide a reasonable basis for our opinion.
In our opinion, the financial statements and financial highlights referred
to above present fairly, in all material respects, the financial position
of the Fidelity Money Market Trust: Retirement Money Market Portfolio as of
August 31, 1994, the results of its operations for the year then ended, the
changes in its net assets for each of the two years in the period then
ended, and the financial highlights for each of the two years in the period
then ended, the ten month period ended August 31, 1992, and for each of the
two years in the period ended October 31, 1991, in conformity with
generally accepted accounting principles.
COOPERS & LYBRAND L.L.P.
Dallas, Texas
September 23, 1994
THIS REPORT AND THE FINANCIAL STATEMENTS CONTAINED HEREIN ARE SUBMITTED FOR
THE GENERAL INFORMATION OF THE
SHAREHOLDERS OF THE FUND. THIS REPORT IS NOT AUTHORIZED FOR DISTRIBUTION TO
PROSPECTIVE INVESTORS IN THE FUND UNLESS
PRECEDED OR ACCOMPANIED BY AN EFFECTIVE PROSPECTUS. MUTUAL FUND SHARES ARE
NOT DEPOSITS OR OBLIGATIONS OF, OR
GUARANTEED BY, ANY DEPOSITORY INSTITUTION. SHARES ARE NOT INSURED BY THE
FDIC, THE FEDERAL RESERVE BOARD OR ANY
OTHER AGENCY, AND ARE SUBJECT TO INVESTMENT RISK, INCLUDING THE POSSIBLE
LOSS OF PRINCIPAL. NEITHER THE FUND NOR
FIDELITY DISTRIBUTORS CORPORATION IS A BANK. FOR MORE INFORMATION ON ANY
FIDELITY FUND INCLUDING CHARGES AND
EXPENSES, CALL 1-800-544-0276 FOR A FREE PROSPECTUS. READ IT CAREFULLY
BEFORE YOU INVEST OR SEND MONEY.
Page 14 = BLANK
Do NOT Strip-In this type
REGIONAL OFFICES
NEW ENGLAND REGION
82 Devonshire Street
Boston, MA 02109
MIDWESTERN REGION
11 South LaSalle Street
Suite 810
Chicago, IL 60603
First Center Office Plaza
26955 Northwestern Highway
Suite 175
Southfield, MI 48037
MID-ATLANTIC REGION
150 East 52nd Street
Suite 2400
New York, NY 10022
One Tower Bridge
100 Front Street
Suite 1050
West Conshohocken, PA 19428
WESTERN REGION
1800 Avenue of the Stars
Suite 130
Los Angeles, CA 90067
455 Market Street
Suite 1420
San Francisco, CA 94105
SOUTHEASTERN REGION
1960 Landings Boulevard
Landings Office Park
Suite D104
Sarasota, FL 34231
1 Atlantic Place
950 East Paces Ferry Road NE
Suite 2915
Atlanta, GA 30326
SOUTHWESTERN REGION
1010 Lamar
Suite 975
Houston, TX 77002
400 East Las Colinas Boulevard
Canal Plaza
Irving, TX 75039
INVESTMENT ADVISER
Fidelity Management & Research Company
Boston, MA
SUB-ADVISER
FMR Texas Inc.
Irving, TX
TRUSTEES
J. Gary Burkhead
Ralph F. Cox
Phyllis Burke Davis
Richard J. Flynn
Edward C. Johnson 3d
E. Bradley Jones
Donald J. Kirk
Peter S. Lynch
Edward H. Malone
Marvin L. Mann
Gerald C. McDonough
Thomas R. Williams
OFFICERS
Edward C. Johnson 3d, PRESIDENT
J. Gary Burkhead, SENIOR VICE PRESIDENT
Fred l. Henning Jr., VICE PRESIDENT
Thomas D. Maher, ASSISTANT VICE PRESIDENT
Gary L. French, TREASURER
John H. Costello, ASSISTANT TREASURER
Leonard M. Rush, ASSISTANT TREASURER
Arthur S. Loring, SECRETARY
CUSTODIAN
Morgan Guaranty Trust Company of New York
New York, NY
TRANSFER AND
SHAREHOLDER
SERVICING AGENT
Fidelity Investments Institutional
Operations Company
Boston, MA
GENERAL DISTRIBUTOR
Fidelity Distributors Corporation
Boston, MA
RMM-10-94A
FIDELITY MONEY MARKET TRUST
RETIREMENT GOVERNMENT MONEY MARKET PORTFOLIO
ANNUAL REPORT
AUGUST 31, 1994
FIDELITY MONEY MARKET TRUST: RETIREMENT GOVERNMENT MONEY MARKET PORTFOLIO
INVESTMENTS/AUGUST 31, 1994
(SHOWING PERCENTAGE OF TOTAL VALUE OF INVESTMENTS)
ANNUALIZED ANNUALIZED
YIELD AT YIELD AT
DUE TIME OF PRINCIPAL VALUE DUE TIME OF PRINCIPAL VALUE
DATE PURCHASE AMOUNT (NOTE 1) DATE PURCHASE AMOUNT (NOTE 1)
Federal Agencies - 60.6%
EXPORT IMPORT BANK, U.S. - AGENCY COUPONS - 0.8%
9/15/94 4.81% (a) $ 14,000,000 $ 14,000,000
FEDERAL FARM CREDIT BANK - AGENCY COUPONS - 3.1%
10/3/94 3.36 17,000,000 17,000,347
10/3/94 3.38 17,000,000 17,000,000
11/1/94 4.70 19,000,000 19,001,492
53,001,839
FEDERAL FARM CREDIT BANK - DISCOUNT NOTES - 2.0%
10/3/94 4.62 9,500,000 9,498,443
10/12/94 4.27 25,000,000 24,880,986
34,379,429
FEDERAL HOME LOAN BANK - AGENCY COUPONS - 4.1%
9/1/94 5.33 (a) 24,000,000 23,961,746
9/8/94 4.75 (a) (b) 27,000,000 26,926,290
10/27/94 4.63 (a) 18,100,000 18,093,563
68,981,599
FEDERAL HOME LOAN MORTGAGE CORP. - DISCOUNT NOTES - 1.2%
11/28/94 4.18 20,000,000 19,802,000
FEDERAL NATIONAL MORTGAGE ASSOC. - AGENCY COUPONS - 10.4%
9/1/94 4.83 (a) 96,000,000 96,000,000
9/1/94 5.35 (a) 59,000,000 59,000,000
10/11/94 4.61 22,900,000 23,028,255
178,028,255
FEDERAL NATIONAL MORTGAGE ASSOC. - DISCOUNT NOTES - 35.3%
9/7/94 4.50 22,000,000 21,983,647
9/8/94 3.30 30,000,000 29,981,158
9/19/94 4.04 20,000,000 19,960,500
9/22/94 3.33 53,000,000 52,899,212
9/23/94 4.01 14,465,000 14,430,348
10/4/94 4.27 42,000,000 41,839,070
10/6/94 4.19 32,000,000 31,872,133
10/25/94 3.40 36,000,000 35,821,260
10/26/94 4.46 38,000,000 37,746,878
11/29/94 4.87 45,000,000 44,471,562
12/1/94 4.85 65,000,000 64,222,835
12/29/94 4.99 50,000,000 49,193,444
1/3/95 5.04 24,000,000 23,593,280
1/6/95 5.05 24,000,000 23,583,440
1/17/95 5.03 26,000,000 25,511,633
1/18/95 5.03 17,000,000 16,678,369
1/18/95 5.08 15,000,000 14,712,733
3/1/95 5.12 30,000,000 29,247,342
3/6/95 4.97 25,000,000 24,358,043
602,106,887
STUDENT LOAN MARKETING ASSOC. - AGENCY COUPONS - 3.7%
9/6/94 5.05% (a) $ 35,000,000 $ 35,000,000
6/30/95 5.48 (a) 27,900,000 27,900,000
62,900,000
TOTAL FEDERAL AGENCIES 1,033,200,009
U.S. Treasury Obligations - 1.2%
U.S. TREASURY BILLS
10/20/94 3.36 21,000,000 20,906,247
MATURITY
AMOUNT
Repurchase Agreements - 38.2%
With Credit Lyonnais:
At 4.80%, dated 8/31/94 due 9/1/94:
U.S. Treasury Obligations
(principal amount $152,255,000)
6.125%, 7/31/96 $ 150,020,000 150,000,000
With Goldman, Sachs & Co.:
At 4.75%, dated 8/30/94 due 9/6/94:
U.S. Government Obligations
(principal amount $84,460,000)
3.805% to 5.97%,
6/1/24 to 4/1/34 82,075,736 82,000,000
With Nomura Securities International, Inc.:
At 4.75%, dated 8/23/94 due 9/6/94:
U.S. Government Obligations
(principal amount $64,342,016)
7.125% to 9.25%,
4/15/21 to 7/15/28 61,112,681 61,000,000
In a joint trading account
(U.S. Government Obligations)
dated 8/31/94, due 9/1/94
(Notes 2 and 3)
At 4.89% 358,039,650 357,991,000
TOTAL REPURCHASE AGREEMENTS 650,991,000
TOTAL INVESTMENTS - 100% $ 1,705,097,256
Total Cost for Income Tax Purposes - $1,705,097,256
LEGEND:
(d) The coupon rate shown on floating or adjustable rate securities
represents the rate at period end. The due date on these types of
securities reflects the next interest rate reset date or when applicable,
the final maturity date.
(e) Security purchased on a delayed delivery basis. Interest rate to be
determined at settlement date (see Note 2 of Notes to Financial
Statements).
INCOME TAX INFORMATION:
At August 31, 1994, the fund had a capital loss carryforward of
approximately $229,000 of which $4,000, $47,000 and $178,000 will expire on
August 31, 2000, 2001 and 2002, respectively.
Statement of Assets and Liabilities
DRAFT
<TABLE>
<CAPTION>
<S> <C> <C>
August 31, 1994
ASSETS
Investment in securities, at value (including repurchase agreements of $650,991,000) - See accompanying $ 1,705,097,256
schedule
Interest receivable 2,803,099
TOTAL ASSETS 1,707,900,355
LIABILITIES
Payable for investments purchased $ 24,358,042
Regular delivery
Delayed delivery 26,926,290
Share transactions in process 611,227
Dividends payable 7,168
Accrued management fee 593,567
TOTAL LIABILITIES 52,496,294
NET ASSETS $ 1,655,404,061
Net Assets consist of:
Paid in capital $ 1,655,535,709
Accumulated net realized gain (loss) on investments (131,648)
NET ASSETS, for 1,655,535,709 shares outstanding $ 1,655,404,061
NET ASSET VALUE, offering price and redemption price per share ($1,655,404,061 (divided by) $1.00
shares)
</TABLE>
Statement of Operations
DRAFT
<TABLE>
<CAPTION>
<S> <C> <C>
Year Ended August 31, 1994
INTEREST INCOME $ 55,458,151
EXPENSES
Management fee $ 6,327,789
Non-interested trustees' fees 9,058
TOTAL EXPENSES 6,336,847
NET INTEREST INCOME 49,121,304
NET REALIZED GAIN (LOSS) ON (178,268)
INVESTMENTS
NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS $ 48,943,036
</TABLE>
Statement of Changes in Net Assets
DRAFT
<TABLE>
<CAPTION>
<S> <C> <C>
YEARS ENDED AUGUST 31,
1994 1993
INCREASE (DECREASE) IN NET ASSETS
Operations $ 49,121,304 $ 38,836,205
Net interest income
Net realized gain (loss) (178,268) (47,007)
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM
OPERATIONS 48,943,036 38,789,198
Dividends to shareholders from net interest income (49,121,304) (38,836,205)
Share transactions at net asset value of $1.00 per share 1,170,902,583 1,323,450,636
Proceeds from sales of shares
Reinvestment of dividends from net interest income 48,866,605 38,836,205
Cost of shares redeemed (957,770,324) (1,205,185,320)
Net increase (decrease) in net assets and shares resulting
from share transactions 261,998,864 157,101,521
TOTAL INCREASE (DECREASE) IN NET ASSETS 261,820,596 157,054,514
NET ASSETS
Beginning of period 1,393,583,465 1,236,528,951
End of period $ 1,655,404,061 $ 1,393,583,465
</TABLE>
FINANCIAL HIGHLIGHTS
DRAFT
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C>
YEARS ENDED AUGUST 31, TEN MONTHS YEARS ENDED OCTOBER 31
ENDED ,
AUGUST 31,
1994 1993 1992 1991 1990
SELECTED PER-SHARE DATA
Net asset value, beginning of period $ 1.000 $ 1.000 $ 1.000 $ 1.000 1.000
Income from Investment Operations .032 .029 .034 .061 .079
Net interest income
Less Distributions (.032) (.029) (.034) (.061) (.079)
From net interest income
Net asset value, end of period $ 1.000 $ 1.000 $ 1.000 $ 1.000 1.000
TOTAL RETURN B 3.27% 2.95% 3.47% 6.29% 8.16%
RATIOS AND SUPPLEMENTAL DATA
Net assets, end of period (000 omitted) $ 1,655,404 $ 1,393,583 $ 1,236,529 $ 936,869 410,889
Ratio of expenses to average net assets .42% .42% .42%A .42% .42%
Ratio of net interest income to average net assets 3.26% 2.90% 4.08%A 5.98% 7.85%
</TABLE>
A ANNUALIZED
B TOTAL RETURNS FOR PERIODS OF LESS THAN ONE YEAR ARE NOT ANNUALIZED.
NOTES TO FINANCIAL STATEMENTS
FOR THE PERIOD ENDED AUGUST 31 1994
1. SIGNIFICANT ACCOUNTING POLICIES.
Retirement Government Money Market Portfolio (the fund) is a fund of
Fidelity Money Market 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 Massachusetts business trust. 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 all of its taxable income for its fiscal
year. The schedule of investments includes information regarding income
taxes under the caption "Income Tax Information."
INTEREST INCOME. Interest income, which includes amortization of premium
and accretion of original issue 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 between the
funds in the trust.
DISTRIBUTIONS TO SHAREHOLDERS. Dividends are declared daily and paid
monthly from net interest 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.
REPURCHASE AGREEMENTS. The fund, through its custodian, receives delivery
of the underlying securities, whose market value is required to be at least
102% of the resale price at the time of purchase. The fund's investment
adviser, Fidelity Management & Research Company (FMR), is responsible for
determining that the value of these underlying securities remains at least
equal to the resale price.
JOINT TRADING ACCOUNT. Pursuant to an Exemptive Order issued by the
Securities and Exchange Commission, 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 that mature in 60 days or less from the date of
purchase, and are collateralized by U.S. Treasury or Federal Agency
obligations.
DELAYED DELIVERY TRANSACTIONS. The fund may purchase or sell securities on
a when-issued or forward commitment basis. Payment and delivery may take
place a month or more after the date of the transaction. The price of the
underlying securities and the date when the securities will be delivered
and paid for are fixed at the time the transaction is negotiated. The fund
may receive compensation for interest forgone in a delayed delivery
transaction. The fund identifies securities as segregated in its custodial
records with a value at least equal to the amount of the purchase
commitment.
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 FMR. The repurchase agreements were dated August 31,
1994 and due September 1, 1994. The maturity values of the joint trading
account investments were $358,039,650 at 4.89%. The investments in
repurchase agreements through the joint trading account are summarized as
follows:
3. JOINT TRADING ACCOUNT - CONTINUED
MAXIMUM
AMOUNT AGGREGATE AGGREGATE AGGREGATE
NO. OF WITH ONE PRINCIPAL MATURITY MARKET COUPON MATURITY
DEALERS DEALER AMOUNT OF AMOUNT OF VALUE OF RATES OF DATES OF
OR BANKS OR BANK AGREEMENTS AGREEMENTS COLLATERAL COLLATERAL COLLATERAL
At 4.89% 4 42.9% $1,750,000,000 $1,750,237,819 $1,801,920,348 0%-13.5%
9/1/94-4/1/34
4. FEES AND OTHER TRANSACTIONS WITH AFFILIATES.
MANAGEMENT FEE. As the fund's investment adviser, FMR pays all expenses
except the compensation of the non-interested Trustees and certain
exceptions such as interest, taxes, brokerage commissions and extraordinary
expenses. FMR receives a fee that is computed daily at an annual rate of
.42% of the fund's average net assets.
SUB-ADVISER FEE. As the fund's investment sub-adviser, FMR Texas Inc., a
wholly owned subsidiary of FMR, receives a fee from FMR of 50% of the
management fee payable to FMR. The fee is paid prior to any voluntary
expense reimbursements which may be in effect, and after reducing the fee
for any payments by FMR pursuant to the fund's Distribution and Service
Plan.
REPORT OF INDEPENDENT ACCOUNTANTS
To the Trustees of Fidelity Money Market Trust and the Shareholders of
Retirement Government Money Market Portfolio:
We have audited the accompanying statement of assets and liabilities of
Fidelity Money Market Trust: Retirement Government Money Market Portfolio,
including the schedule of portfolio investments, as of August 31, 1994, and
the related statement of operations for the year then ended, the statement
of changes in net assets for each of the two years in the period then
ended, and the financial highlights for each of the two years in the period
then ended, the ten month period ended August 31, 1992, and for each of the
two years in the period ended October 31, 1991. These financial statements
and financial highlights are the responsibility of the Trust's management.
Our responsibility is to express an opinion on these financial statements
and financial highlights based on our audits.
We conducted our audits in accordance with generally accepted auditing
standards. Those standards require that we plan and perform the audit to
obtain reasonable assurance about whether the financial statements and
financial highlights are free of material misstatement. An audit includes
examining, on a test basis, evidence supporting the amounts and disclosures
in the financial statements. Our procedures included confirmation of
securities owned as of August 31, 1994 by correspondence with the custodian
and brokers. An audit also includes assessing the accounting principles
used and significant estimates made by management, as well as evaluating
the overall financial statement presentation. We believe that our audits
provide a reasonable basis for our opinion.
In our opinion, the financial statements and financial highlights referred
to above present fairly, in all material respects, the financial position
of the Fidelity Money Market Trust: Retirement Government Money Market
Portfolio as of August 31, 1994, the results of its operations for the year
then ended, the changes in its net assets for each of the two years in the
period then ended, and the financial highlights for each of the two years
in the period then ended, for the ten month period ended August 31, 1992,
and for each of the two years in the period ended October 31, 1991, in
conformity with generally accepted accounting principles.
COOPERS & LYBRAND L.L.P.
Dallas, Texas
September 23, 1994
THIS REPORT AND THE FINANCIAL STATEMENTS CONTAINED HEREIN ARE SUBMITTED FOR
THE GENERAL INFORMATION OF THE
SHAREHOLDERS OF THE FUND. THIS REPORT IS NOT AUTHORIZED FOR DISTRIBUTION TO
PROSPECTIVE INVESTORS IN THE FUND UNLESS
PRECEDED OR ACCOMPANIED BY AN EFFECTIVE PROSPECTUS. MUTUAL FUND SHARES ARE
NOT DEPOSITS OR OBLIGATIONS OF, OR
GUARANTEED BY, ANY DEPOSITORY INSTITUTION. SHARES ARE NOT INSURED BY THE
FDIC, THE FEDERAL RESERVE BOARD OR ANY
OTHER AGENCY, AND ARE SUBJECT TO INVESTMENT RISK, INCLUDING THE POSSIBLE
LOSS OF PRINCIPAL. NEITHER THE FUND NOR
FIDELITY DISTRIBUTORS CORPORATION IS A BANK. FOR MORE INFORMATION ON ANY
FIDELITY FUND INCLUDING CHARGES AND
EXPENSES, CALL 1-800-544-0276 FOR A FREE PROSPECTUS. READ IT CAREFULLY
BEFORE YOU INVEST OR SEND MONEY.
REGIONAL OFFICES
NEW ENGLAND REGION
82 Devonshire Street
Boston, MA 02109
MIDWESTERN REGION
11 South LaSalle Street
Suite 810
Chicago, IL 60603
First Center Office Plaza
26955 Northwestern Highway
Suite 175
Southfield, MI 48037
MID-ATLANTIC REGION
150 East 52nd Street
Suite 2400
New York, NY 10022
One Tower Bridge
100 Front Street
Suite 1050
West Conshohocken, PA 19428
WESTERN REGION
1800 Avenue of the Stars
Suite 130
Los Angeles, CA 90067
455 Market Street
Suite 1420
San Francisco, CA 94105
SOUTHEASTERN REGION
1960 Landings Boulevard
Landings Office Park
Suite D104
Sarasota, FL 34231
1 Atlantic Place
950 East Paces Ferry Road NE
Suite 2915
Atlanta, GA 30326
SOUTHWESTERN REGION
1010 Lamar
Suite 975
Houston, TX 77002
400 East Las Colinas Boulevard
Canal Plaza
Irving, TX 75039
INVESTMENT ADVISER
Fidelity Management & Research Company
Boston, MA
SUB-ADVISER
FMR Texas Inc.
Irving, TX
TRUSTEES
J. Gary Burkhead
Ralph F. Cox
Phyllis Burke Davis
Richard J. Flynn
Edward C. Johnson 3d
E. Bradley Jones
Donald J. Kirk
Peter S. Lynch
Edward H. Malone
Marvin L. Mann
Gerald C. McDonough
Thomas R. Williams
OFFICERS
Edward C. Johnson 3d, PRESIDENT
J. Gary Burkhead, SENIOR VICE PRESIDENT
Fred L. Henning, Jr., VICE PRESIDENT
Leland Barron, VICE PRESIDENT
Thomas D. Maher, ASSISTANT VICE PRESIDENT
Gary L. French, TREASURER
John H. Costello, ASSISTANT TREASURER
Leonard M. Rush, ASSISTANT TREASURER
Arthur S. Loring, SECRETARY
CUSTODIAN
Morgan Guaranty Trust Company of New York
New York, NY
TRANSFER AND
SHAREHOLDER
SERVICING AGENT
Fidelity Investments Institutional
Operations Company
Boston, MA
GENERAL DISTRIBUTOR
Fidelity Distributors Corporation
Boston, MA RGM-10-94A
