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
February 26, 1999
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
February 26, 1999
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
February 26, 1999
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 February 26, 1999 included in its representation letter
dated
August 23, 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 February 26, 1999 and
with
respect to agreement of security purchases and sales, for the period from
October 30,
1998 (the date of our last examination) through February 26, 1999:
* 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 February 26, 1999 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
August 23, 1999
