U.S. Securities and Exchange Commission
Washington, D.C. 20549
FORM N-17f-2
Certificate of Accounting of Securities and Similar Investments
in the Custody of Management Investment Companies
Pursuant to Rule 17f-2 [17 CFR 270.17f-2]
1. Investment Company Act File Number: Date examination completed:
811-5251 October 31, 1998
2. State Identification Number:
AL AK AZ AR CA CO
CT DE DC FL GA HI
ID IL IN IA KS KY
LA ME MD MA MI MN
MS MO MT NE NV NH
NJ NM NY NC ND OH
OK OR PA RI SC SD
TN TX UT VT VA WA
WV WI WY PUERTO RICO
Other (specify):
3. Exact name of investment company as specified in registration statement:
Fidelity Concord Street Trust: Spartan U.S. Equity Index Fund
4. Address of principal executive office:(number, street, city, state,
zip code)
82 Devonshire Street, Boston, MA 02109
INSTRUCTIONS
This Form must be completed by the investment companies that
have custody of securities or similar investments.
Investment Company
1. All items must be completed by the investment company.
2. Give this Form to the independent public accountant who, in
compliance with Rule 17f-2 under the Act and applicable state law,
examines securities and similar investments in the custody of the
investment company.
Accountant
3. Submit this Form to the Securities and Exchange Commission and
appropriate state securities administrators when filing the certificate
of accounting required by Rule 17f-2 under the Act and applicable
state law. File the original and one copy with the Securities and
Exchange Commission's principal office in Washington, D.C., one
copy with the regional office for the region in which the investment
company's principal business operations are conducted, and one
copy with the appropriate state administrator(s), if applicable.
THIS FORM MUST BE GIVEN TO YOUR INDEPENDENT
PUBLIC ACCOUNTANT
U.S. Securities and Exchange Commission
Washington, D.C. 20549
FORM N-17f-2
Certificate of Accounting of Securities and Similar Investments
in the Custody of Management Investment Companies
Pursuant to Rule 17f-2 [17 CFR 270.17f-2]
1. Investment Company Act File Number: Date examination completed:
811-5251 October 31, 1998
2. State Identification Number:
AL AK AZ AR CA CO
CT DE DC FL GA HI
ID IL IN IA KS KY
LA ME MD MA MI MN
MS MO MT NE NV NH
NJ NM NY NC ND OH
OK OR PA RI SC SD
TN TX UT VT VA WA
WV WI WY PUERTO RICO
Other (specify):
3. Exact name of investment company as specified in registration statement:
Fidelity Concord Street Trust: Spartan Total Market Index Fund
4. Address of principal executive office:(number, street, city, state,
zip code)
82 Devonshire Street, Boston, MA 02109
INSTRUCTIONS
This Form must be completed by the investment companies that
have custody of securities or similar investments.
Investment Company
1. All items must be completed by the investment company.
2. Give this Form to the independent public accountant who, in
compliance with Rule 17f-2 under the Act and applicable state law,
examines securities and similar investments in the custody of the
investment company.
Accountant
3. Submit this Form to the Securities and Exchange Commission and
appropriate state securities administrators when filing the certificate
of accounting required by Rule 17f-2 under the Act and applicable
state law. File the original and one copy with the Securities and
Exchange Commission's principal office in Washington, D.C., one
copy with the regional office for the region in which the investment
company's principal business operations are conducted, and one
copy with the appropriate state administrator(s), if applicable.
THIS FORM MUST BE GIVEN TO YOUR INDEPENDENT
PUBLIC ACCOUNTANT
U.S. Securities and Exchange Commission
Washington, D.C. 20549
FORM N-17f-2
Certificate of Accounting of Securities and Similar Investments
in the Custody of Management Investment Companies
Pursuant to Rule 17f-2 [17 CFR 270.17f-2]
1. Investment Company Act File Number: Date examination completed:
811-5251 October 31, 1998
2. State Identification Number:
AL AK AZ AR CA CO
CT DE DC FL GA HI
ID IL IN IA KS KY
LA ME MD MA MI MN
MS MO MT NE NV NH
NJ NM NY NC ND OH
OK OR PA RI SC SD
TN TX UT VT VA WA
WV WI WY PUERTO RICO
Other (specify):
3. Exact name of investment company as specified in registration statement:
Fidelity Concord Street Trust: Spartan Extended Market Index Fund
4. Address of principal executive office:(number, street, city, state,
zip code)
82 Devonshire Street, Boston, MA 02109
INSTRUCTIONS
This Form must be completed by the investment companies that
have custody of securities or similar investments.
Investment Company
1. All items must be completed by the investment company.
2. Give this Form to the independent public accountant who, in
compliance with Rule 17f-2 under the Act and applicable state law,
examines securities and similar investments in the custody of the
investment company.
Accountant
3. Submit this Form to the Securities and Exchange Commission and
appropriate state securities administrators when filing the certificate
of accounting required by Rule 17f-2 under the Act and applicable
state law. File the original and one copy with the Securities and
Exchange Commission's principal office in Washington, D.C., one
copy with the regional office for the region in which the investment
company's principal business operations are conducted, and one
copy with the appropriate state administrator(s), if applicable.
THIS FORM MUST BE GIVEN TO YOUR INDEPENDENT
PUBLIC ACCOUNTANT
Report of Independent Accountants
To the Board of Trustees of:
Fidelity Concord Street Trust: Spartan U.S. Equity Index Fund
Fidelity Concord Street Trust: Spartan Total Market Index Fund
Fidelity Concord Street Trust: Spartan Extended Market Index Fund
Fidelity Commonwealth Trust: Spartan Market Index Fund
Variable Insurance Products Fund II: Index 500 Portfolio
We have examined management's assertion about Fidelity Concord Street
Trust: Spartan U.S. Equity Index Fund, Fidelity Concord Street Trust:
Spartan Total Market Index Fund, Fidelity Concord Street Trust: Spartan
Extended Market Index Fund, Fidelity Commonwealth Trust: Spartan Market
Index Fund and Variable Insurance Products Fund II: Index 500 Portfolio
(collectively the "Funds") compliance with the requirements of subsections
(b) and (c) of Rule 17f-2 under the Investment Company Act of 1940
("the Act") as of October 30, 1998 included in its representation letter
dated June 25, 1999. Management is responsible for the Funds' compliance
with those requirements. Our responsibility is to express an opinion on
management's assertion about the Funds' compliance based on our examination.
Our examination was made in accordance with standards established by the
American Institute of Certified Public Accountants and, accordingly, included
examining, on a test basis, evidence about the Fund's compliance with those
requirements and performing such other procedures as we considered necessary
in the circumstances. Included among our procedures were the following tests
performed as of October 30, 1998 and with respect to agreement of
security purchases and sales, for the period from July 31, 1998 (the date of
our last examination) through October 30, 1998:
* Count and inspection of all securities located in the vault of Bankers
Trust in New York;
* Confirmation of all securities held by institutions in book entry form-The
Federal Reserve Bank of New York, The Depository Trust Company, CREST and
CHESS;
* Confirmed all securities record-kept at banks with whom the Custodian and
the
Funds have contracted to provide sub-custodian services without prior notice
to management including Citicorp-Florida, Generale Bank Belgium, Creditanstalt
Bankyerein Austria, Barclays Bank London, Royal Bank of Canada, Den Danske
Bank Denmark, Merita Bank Finland, Banque Paribas France, Dresdner Bank
Germany,
National Bank of Greece, Deutsche Bank India, Standard Charter Bank Indonesia,
Allied Irish Bank Ireland, Standard Charter Bank Hong Kong, Citibank Italy,
Sumitomo
Bank Tokyo, Standard Charter Bank Korea, Custodian & Nominees Malaysia,
Bancomer
Mexico, ABN AMRO Netherlands, ANZ Nominees Limited, New Zealand, Euroclear
Belgium, Standard Charter Bank Pakistan, Standard Charter Bank Manila, Banco
Espirito Portugal, United Overseas Bank Singapore, Banco Santander Spain,
Svenska
Handelsbanken Sweden, Swiss Bank Corp Switzerland, Barclays Bank Bostwana,
Standard
Charter Bank Thailand, ABAS Securities, CEDEL, Citibank Poland, and Citibank
Norway;
* Confirmation of all securities hypothecated, pledged, placed in escrow, or
out
for transfer with brokers, pledgees and/or transfer agents;
* Reconciliation of all such securities to the books and records of the Funds
and
the Custodian;
* Confirmation of all repurchase agreements with brokers/banks and agreement
of
underlying collateral with
Bankers Trust records; and
* Agreed selected securities purchased and securities sold or matured since
our last
report from the books
and records of the Funds to broker confirms.
We believe that our examination provides a reasonable basis for our opinion.
Our
examination does not provide a legal determination on the Funds' compliance
with
specified requirements.
In our opinion, management's assertion that the Funds were in compliance with
the
requirements of subsections (b) and (c) of Rule 17f-2 of the Investment
Company Act
of 1940 as of October 30, 1998 with respect to securities reflected in the
investment
accounts of the Funds are fairly stated, in all material respects.
This report is intended solely for the information and use of management
of the Funds
and the Securities and Exchange Commission and should not be used for any
other purpose.
PricewaterhouseCoopers LLP
New York, New York
June 25, 1999
