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SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
"Rule 24f-2 Notice"
Fidelity Advisor Series V
(Name of Registrant)
File No. 33-9148
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U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 24F-2
Annual Notice of Securities Sold
Pursuant to Rule 24f-2
Read instructions at end of Form Before preparing Form.
Please print or type.
1.
Name and address of issuer: Fidelity Advisor Series V
82 Devonshire Street, Boston, MA, 02109
2.
Name of each series or class of funds for which this notice is filed:
Advisor Natural Resources Portfolio
3.
Investment Company Act File Number: 811-4861
Securities Act File Number: 33-9148
4.
Last day of fiscal year for which this notice is filed: July 31, 1997
5.
Check box if this notice is being filed more than 180 days after
the close of the issuer's fiscal year for purposes of reporting securities
sold after the close of the fiscal year but before termination of
the issuer's 24f-2 declaration:
[ ]
6.
Date of termination of issuer's declaration under rule 24f-2(a)(1),
if applicable (see Instruction A.6):
7.
Number and amount of securities of the same class or series which
had been registered under the Securites Act of 1933 other than pursuant
to rule 24f-2 in a prior fiscal year, but which remained unsold at
the beginning of the fiscal year:
Number of Shares: 0
Aggregate Price: 0
8.
Number and amount of securities registered during the fiscal year
other than pursuant to rule 24f-2:
Number of Shares: 0
Aggregate Price: 0
9.
Number and aggregate sale price of securities sold during the fiscal
year:
Number of Shares: 10,816,120
Aggregate Price: 266,949,876
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10.
Number and aggregate sale price of securities sold during the fiscal
year in reliance upon registration pursuant to rule 24f-2:
Number of Shares: 10,816,120
Aggregate Price: 266,949,876
11.
Number and aggregate sale price of securities issued during the fiscal
year in connection with dividend reinvestment plans, if applicable
(see Instruction B.7):
12.
Calculation of registration fee:
(i)
Aggregate sale price of securities sold during the fiscal
year in reliance on rule 24f-2 (from Item 10): 266,949,876
(ii)
Aggregate price of shares issued in connection with
dividend reinvestment plans (from Item 11, if applicable): 0
(iii)
Aggregate price of shares redeemed or repurchased during
the fiscal year (if applicable): (252,411,718)
(iv)
Aggregate price of shares redeemed or repurchased and previously
applied as a reduction to filing fees pursuant to
rule 24e-2 (if applicable): 0
(v)
Net aggregate price of securities sold and issued during the fiscal
year in reliance on rule 24f-2 [line (i), plus
line (ii), less line (iii), plus line (iv)] (if applicable): 14,538,158
(vi)
Multiplier prescribed by Section 6(b) of the Securities Act of 1933
or other applicable law or regulation (see
Instruction C.6): 1/3300
(vii)
Fee due [line (i) or line (v) muliplied by line (vi)]: 4,405.50
Instruction: Issuers should complete lines (ii), (iii), (iv), and
(v) only if the form is being filed within 60
days after the close of the issuer's fiscal year. See Instruction
C.3.
13.
Check box if fees are being remitted to the Commission's lockbox
depository as described in section 3a of the Commission's Rules of
Informal and Other Procedures (17 CFR 202.3a).
[n]
Date of mailing or wire transfer of filing fees to the Commission's
lockbox depository:
September 18, 1997
SIGNATURES
This report has been signed below by the following persons on behalf
of the issuer and in the capacities and on the dates indicated.
By (Signature and Title)* John H. Costello
Assistant Treasurer
Date September 26, 1997
* Please print the name and title of the signing officer below the
signature.
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September 18, 1997
Mr. John Costello, Assistant Treasurer
Fidelity Advisor Series V (the trust)
Fidelity Advisor Natural Resources Fund (the fund)
82 Devonshire Street
Boston, Massachusetts 02109
Dear Mr. Costello:
Fidelity Advisor Series V (the "Trust") is a Massachusetts business
trust created as Plymouth Investment Tax-Exempt Series, under a
written Declaration of Trust executed and delivered in Boston,
Massachusetts on April 23, 1986. The Trust's name was changed
by majority vote of the Trustees on June 27, 1986 to Plymouth Tax
Free Fund and was again changed to Plymouth Municipal Fund on
February 27, 1987. By majority vote of the Trustees on October
23, 1987, the Trust's name was again changed to Plymouth
Investment Series. On July 18, 1991, by majority vote of the
Trustees, the Trust's name changed again to Fidelity Investment
Series. An amendment to the Declaration of Trust was filed with
the office of the Secretary of the Commonwealth on January 8,
1992. The Trust's name was again changed by a majority vote of
the Board of Trustees to Fidelity Advisor Series V on April 15,
1993, and a supplement to the Declaration of the Trust was
executed on May 3, 1993, and filed with the office of the Secretary
of the Commonwealth on May 5, 1993. An Amended and Restated
Declaration of Trust, dated March 16, 1995 was filed with the
office of the Secretary of the Commonwealth of Massachusetts on
April 12, 1995.
I have conducted such legal and factual inquiry as I have deemed
necessary for the purpose of rendering this opinion.
Capitalized terms used herein, and not otherwise herein defined,
are used as defined in the Declaration of Trust.
Under Article III, Section 1, of the Declaration of Trust, the
beneficial interest in the trust shall be divided into such
transferable Shares of one or more separate and distinct Series as
the trustees shall from time to time create and establish. The
number of Shares is unlimited and each Share shall be without par
value and shall be fully paid and non assessable. The trustees shall
have full power and authority, in their sole discretion and without
obtaining any prior authorization or vote of the Shareholders of the
trust to create and establish (and to change in any manner) Shares
with such preferences, voting powers, rights, and privileges as the
trustees may from time to time determine, to divide or combine the
Shares into a greater or lesser number, to classify or reclassify any
issued Shares into one or more Series of Shares, to abolish any one
or more Series of Shares, and to take such other action with respect
to the Shares as the trustees may deem desirable.
Under Article III, Section 4, the trustees shall accept investments
in the trust from such persons and on such terms as they may from
time to time authorize. Such investments may be in the form of
cash or securities in which the appropriate Series is authorized to
invest, valued as provided in Article X, Section 3. After the date
of the initial contribution of capital, the number of Shares to
represent the initial contribution may in the trustees' discretion be
considered as outstanding and the amount received by the trustees
on account of the contribution shall be treated as an asset of the
trust. Subsequent investments in the trust shall be credited to each
Shareholder's account in the form of full Shares of the trust at the
Net Asset Value per Share next determined after the investment is
received; provided, however, that the trustees may, in their sole
discretion, (a) impose a sales charge upon investments in the trust
and (b) issue fractional Shares.
By a vote adopted on April 24, 1986, and amended on October 29,
1987, the Board of Trustees authorized the issue and sale, from
time to time, of an unlimited number of shares of beneficial
interest of the trust in accordance with the terms included in the
current Registration Statement and subject to the limitations of the
Declaration of Trust and any amendments thereto.
I understand from you that, pursuant to Rule 24f-2 under the
Investment Company Act of 1940, the trust has registered an
indefinite amount of shares of beneficial interest under the
Securities Act of 1933. I further understand that, pursuant to the
provisions of Rule 24f-2, the trust intends to file with the
Securities and Exchange Commission a Notice making definite the
registration of 10,816,120 shares of the trust (the "Shares") sold in
reliance upon Rule 24f-2 during the fiscal year ended July 31,
1997.
I am of the opinion that all necessary trust action precedent to the
issue of Shares has been duly taken, and that all the Shares were
legally and validly issued, and are fully paid and non assessable,
except as described in the funds' Statement of Additional
Information under the heading "Shareholder and Trustee Liability
Massachusetts Trust." In rendering this opinion, I rely on the
representation by the trust that it or its agent received consideration
for the Shares in accordance with the Declaration of Trust and I
express no opinion as to compliance with the Securities Act of
1933, the Investment Company Act of 1940 or applicable state
"Blue Sky" or securities laws in connection with sales of the
Shares.
I hereby consent to the filing of this opinion with the Securities and
Exchange Commission in connection with a Rule 24f-2 Notice
which you are about to file under the 1940 Act with said
commission.
Sincerely,
/s/ Arthur S. Loring
Arthur S. Loring
Vice President- Legal
