<PAGE> 1
N A T I O N W I D E(R)
F I D E L I T Y
A D V I S O R
V A R I A B L E
A C C O U N T
Semi-Annual Report
------------------------------------
F I D E L I T Y
A D V I S O R
A N N U I T I E S
------------------------------------
June 30, 2000
<PAGE> 2
[NATIONWIDE - LOGO]
NATIONWIDE LIFE INSURANCE COMPANY
ONE NATIONWIDE PLAZA, COLUMBUS, OHIO 43215-2220
[PHOTO OF PRESIDENT]
PRESIDENT'S MESSAGE
We at Nationwide Life Insurance Company are pleased to bring you the 2000
semi-annual report of the Nationwide Fidelity Advisor Variable Account.
During the first half of 2000 fixed income and equity markets took a hiatus from
their recent advances. It appears the Federal Reserve's interest rate hikers are
accomplishing the intended purpose. Recent economic statistics show some
moderation in the areas of home and vehicles sales because of the higher
interest costs. And, there are other favorable indications that the Fed may yet
"glide" the economy to a soft landing. Inflation remains low. Sustained
increases in worker productivity continue to dampen pricing pressures of an
increasingly tight labor pool. Corporate profitability growth remains viable. An
improving global economy bodes well for U.S. exporting businesses. While all
this provides a positive backdrop, we expect the markets will continue jittery
and volatile during the second half of the year as uncertainty over further Fed
actions persists. However, we believe patient investors in financial assets will
be amply rewarded when we move beyond this temporary respite.
Nationwide Life was a forerunner in the variable annuity and variable life
insurance business. We continue to develop new and innovative investment
products to better meet your financial planning and retirement needs. And, we
are equally committed to providing you, our valued customer, the exceptional
level of customer service you expect and deserve.
/s/ Joseph J. Gasper
Joseph J. Gasper, President
August 16, 2000
2
<PAGE> 3
HOW TO READ THE SEMI-ANNUAL REPORT
This semi-annual report is a presentation of the variable account as a whole and
only describes the underlying contracts and products of the variable account in
general terms. Please note the variable account may have more than one variable
product available. Such products may have different under- lying mutual funds
available than those available in your contract. Therefore, not all funds listed
in this report may be available in your contract. Please refer to your most
recent account statement for specific information about your investment in the
Nationwide Fidelity Advisor Variable Account. Rules and regulations of the
United States Securities and Exchange Commission and recognized conventions of
Generally Accepted Accounting Principals prescribe the format and content of
this report.
We also invite you to call our service center at 1-800-494-1132 if you have
questions about your account, or you may access your account using our voice
response unit. And, please visit our web-site at www.nwannuities.com/fidelity
for additional information about your contract and to learn more about other
products and services offered by Nationwide Financial.
THE ANNUAL REPORT HAS FOUR MAJOR FINANCIAL SECTIONS:
STATEMENT OF ASSETS, LIABILITIES AND CONTRACT OWNER'S EQUITY
This statement begins on page 4 and lists all of the underlying mutual funds of
the variable account, the number of shares owned, the amount paid for the shares
and their market value as of the close of business on June 30, 2000. The mutual
funds are listed in alphabetical order. The market value of the assets changes
as the underlying mutual funds change in value. As contract owners make exchange
transactions between the funds, the number of shares increases or decreases
accordingly. When money is deposited or withdrawn by a contract owner, shares
are correspondingly purchased or redeemed. The total market value of the funds
is equal to the TOTAL INVESTMENTS of the variable account.
ACCOUNTS RECEIVABLE, if applicable, represents an asset of the variable account
for money market fund shares purchased by contract owners and reinvested
dividend shares added to contract owners' accounts, but not yet added to Total
investments. Total investments plus Accounts receivable equal TOTAL ASSETS of
the variable account.
ACCOUNTS PAYABLE, if applicable, is a liability of the variable account for
money market fund shares redeemed by contract owners' but not yet deducted from
Total investments.
Total assets minus Accounts payable equals CONTRACT OWNERS' EQUITY. A summary of
Contract owners' equity by funds series may be found on page 22. This summary
also includes investment return for the reporting period for each fund series.
STATEMENTS OF OPERATIONS AND STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY
These statements begin on page 6 and present the financial activity of each
underlying mutual fund sub-account of the variable account, for the periods
indicated.
The INVESTMENT ACTIVITY section shows income to the variable account for
reinvested dividends and capital gain distributions paid by the underlying
mutual funds. Also shown are the mortality, expense and administration charges
which are assessed through the daily unit value calculation and which represent
an expense to the variable account and its contract owners. This section also
shows the realized gain or loss as mutual fund shares are sold, and the change
in unrealized gain or loss, which represents the changes in market value of the
underlying fund shares.
The EQUITY TRANSACTIONS section illustrates the receipt of purchase payments, as
new contracts are sold or additional payments made to existing contracts. Also
presented are deductions from the variable account when the contract owners
withdraw money.
The sum of the above two sections represents the NET CHANGE IN CONTRACT OWNERS'
EQUITY which when added to the beginning Contract owners' equity equals Contract
owners' equity at the end of the reporting period.
NOTES TO FINANCIAL STATEMENTS, beginning on page 16, provide further disclosures
about the variable account and its underlying contract provisions.
3
<PAGE> 4
NATIONWIDE FIDELITY ADVISOR VARIABLE ACCOUNT
STATEMENT OF ASSETS, LIABILITIES AND CONTRACT OWNERS' EQUITY
JUNE 30, 2000
(UNAUDITED)
<TABLE>
<CAPTION>
ASSETS:
<S> <C>
Investments at market value:
Fidelity VIP - Equity-Income Portfolio (FidVIPEI)
2,736,522 shares (cost $66,027,610) ................................................................. $ 62,693,713
Fidelity VIP - Growth Portfolio (FidVIPGr)
3,821,534 shares (cost $174,685,944) ................................................................ 196,961,860
Fidelity VIP - High Income Portfolio (FidVIPHI)
11,332,870 shares (cost $128,122,088) ............................................................... 113,782,016
Fidelity VIP - Money Market Portfolio (FidVIPMMkt)
62,617,204 shares (cost $62,617,204) ................................................................ 62,617,204
Fidelity VIP - Overseas Portfolio (FidVIPOv)
4,490,832 shares (cost $92,322,769) ................................................................. 105,354,926
Fidelity VIP-II - Asset Manager Portfolio (FidVIPAM)
1,145,327 shares (cost $19,578,812) ................................................................. 18,943,711
Fidelity VIP-II - Asset Manager: Growth Portfolio (FidVIPAMGr)
954,073 shares (cost $15,324,405) ................................................................... 15,503,689
Fidelity VIP-II - Contrafund Portfolio (FidVIPCon)
5,726,231 shares (cost $127,201,177) ................................................................ 143,671,132
Fidelity VIP-II - Index 500 Portfolio (FidVIPI500)
1,178,235 shares (cost $165,803,345) ................................................................ 193,124,495
Fidelity VIP-II - Investment Grade Bond Portfolio (FidVIPIGBd)
5,436,104 shares (cost $66,581,916) ................................................................. 63,874,224
Fidelity VIP-III - Balanced Portfolio (FidVIPBal)
8,566,251 shares (cost $108,210,861) ................................................................ 129,264,727
Fidelity VIP-III - Growth and Income Portfolio (FidVIPGrIn)
4,316,344 shares (cost $62,148,579) ................................................................. 66,816,999
Fidelity VIP-III - Growth Opportunities Portfolio (FidVIPGrOp)
26,365,899 shares (cost $441,028,372) ............................................................... 543,401,188
Fidelity VIP-III - Mid Cap Portfolio (FidVIPMCap)
103,938 shares (cost $1,836,478) .................................................................... 1,956,120
Fidelity VIP - Equity-Income Portfolio: Service Class (FidVIPEIS)
1,862,417 shares (cost $45,719,276) ................................................................. 42,556,234
Fidelity VIP - Growth Portfolio: Service Class (FidVIPGrS)
2,530,785 shares (cost $117,650,536) ................................................................ 130,057,040
Fidelity VIP - High Income Portfolio: Service Class (FidVIPHIS)
4,107,890 shares (cost $46,376,790) ................................................................. 41,119,982
Fidelity VIP - Overseas Portfolio: Service Class (FidVIPOvS)
1,281,183 shares (cost $29,350,768) ................................................................. 30,005,316
Fidelity VIP-II - Asset Manager Portfolio: Service Class (FidVIPAMS)
740,059 shares (cost $12,704,675) ................................................................... 12,181,375
</TABLE>
4
<PAGE> 5
<TABLE>
<S> <C>
Fidelity VIP-II - Asset Manager: Growth Portfolio: Service Class (FidVIPAMGrS)
595,771 shares (cost $9,736,291) .................................................................... 9,627,657
Fidelity VIP-II - Contrafund Portfolio: Service Class (FidVIPConS)
2,818,559 shares (cost $69,923,976) ................................................................. 70,548,529
Fidelity VIP-III - Balanced Portfolio: Service Class (FidVIPBalS)
1,825,027 shares (cost $28,163,653) ................................................................. 27,430,148
Fidelity VIP-III - Growth and Income Portfolio: Service Class (FidVIPGrInS)
4,266,305 shares (cost $67,273,061) ................................................................. 65,743,753
Fidelity VIP-III - Growth Opportunities Portfolio: Service Class (FidVIPGrOpS)
5,152,266 shares (cost $110,906,958) ................................................................ 106,033,642
Fidelity VIP-III - Mid Cap Portfolio: Service Class (FidVIPMCapS)
1,115,243 shares (cost $19,815,272) ................................................................. 20,955,410
Fidelity VIP - Equity-Income Portfolio: Service Class 2 (FidVIPEI2)
42,524 shares (cost $992,624) ....................................................................... 971,253
Fidelity VIP - Growth Portfolio: Service Class 2 (FidVIPGr2)
120,012 shares (cost $5,876,192) .................................................................... 6,162,615
Fidelity VIP - High Income Portfolio: Service Class 2 (FidVIPHI2)
90,685 shares (cost $902,271) ....................................................................... 906,850
Fidelity VIP - Overseas Portfolio: Service Class 2 (FidVIPOv2)
76,733 shares (cost $1,758,186) ..................................................................... 1,794,790
Fidelity VIP-II - Asset Manager Portfolio: Service Class 2 (FidVIPAM2)
34,762 shares (cost $574,078) ....................................................................... 571,842
Fidelity VIP-II - Asset Manager: Growth Portfolio: Service Class 2 (FidVIPAMGr2)
33,941 shares (cost $530,719) ....................................................................... 548,142
Fidelity VIP-II - Contrafund Portfolio: Service Class 2 (FidVIPCon2)
119,747 shares (cost $2,921,719) .................................................................... 2,996,066
Fidelity VIP-III - Balanced Portfolio: Service Class 2 (FidVIPBal2)
40,391 shares (cost $597,556) ....................................................................... 606,670
Fidelity VIP-III - Growth and Income Portfolio: Service Class 2 (FidVIPGrIn2)
143,852 shares (cost $2,170,392) .................................................................... 2,215,315
Fidelity VIP-III - Growth Opportunities Portfolio: Service Class 2 (FidVIPGrOp2)
128,507 shares (cost $2,558,190) .................................................................... 2,643,396
Fidelity VIP-III - Mid Cap Portfolio: Service Class 2 (FidVIPMCap2)
101,939 shares (cost $1,817,378) .................................................................... 1,914,414
--------------
Total investments ................................................................................ 2,295,556,443
Accounts receivable ....................................................................................... 4,094
--------------
Total assets ..................................................................................... 2,295,560,537
ACCOUNTS PAYABLE ............................................................................................. 164,374
--------------
CONTRACT OWNERS' EQUITY (NOTE 4) ............................................................................. $2,295,396,163
==============
</TABLE>
See accompanying notes to financial statements.
5
<PAGE> 6
NATIONWIDE FIDELITY ADVISOR VARIABLE ACCOUNT
STATEMENTS OF CHANGES IN
CONTRACT OWNERS' EQUITY
-----------------------
STATEMENTS OF OPERATIONS
------------------------
SIX MONTH PERIODS ENDED JUNE 30, 2000 AND 1999
(UNAUDITED)
<TABLE>
<CAPTION>
TOTAL EQUITY-INCOME PORTFOLIO
---------------------------------- ----------------------------------
2000 1999 2000 1999
--------------- --------------- --------------- ---------------
<S> <C> <C> <C> <C>
INVESTMENT ACTIVITY:
Reinvested dividends ........................ $ 41,902,912 37,841,849 1,188,897 993,026
Mortality, expense and administration
charges (note 2) .......................... (14,540,339) (12,931,375) (458,821) (492,742)
--------------- ------------- ---------- ----------
Net investment activity ................... 27,362,573 24,910,474 730,076 500,284
--------------- ------------- ---------- ----------
Proceeds from mutual fund shares sold ....... 348,156,790 156,881,850 10,962,122 3,022,994
Cost of mutual fund shares sold ............. (286,386,553) (128,448,414) (10,346,664) (2,330,165)
--------------- ------------- ---------- ----------
Realized gain (loss) on investments ....... 61,770,237 28,433,436 615,458 692,829
Change in unrealized gain (loss)
on investments ............................ (276,204,110) 32,365,843 (8,486,639) 4,679,420
--------------- ------------- ---------- ----------
Net gain (loss) on investments ............ (214,433,873) 60,799,279 (7,871,181) 5,372,249
--------------- ------------- ---------- ----------
Reinvested capital gains .................... 136,402,272 42,234,533 4,479,099 2,195,110
--------------- ------------- ---------- ----------
Net increase (decrease) in contract
owners equity resulting from
operations ........................... (50,669,028) 127,944,286 (2,662,006) 8,067,643
--------------- ------------- ---------- ----------
EQUITY TRANSACTIONS:
Purchase payments received from
contract owners ........................... 197,657,083 258,770,141 1,651,462 5,970,622
Transfers between funds ..................... - - (6,060,826) (1,239,701)
Redemptions ................................. (169,501,636) (84,999,272) (4,742,153) (2,247,676)
Annuity benefits ............................ (46,102) (35,907) - -
Annual contract maintenance charge (note 2) . (91,326) (82,831) (3,139) (3,102)
Contingent deferred sales charges (note 2) .. (3,418,430) (1,837,836) (110,343) (48,741)
Adjustments to maintain reserves ............ (23,431) (116,920) (13,889) 528
--------------- ------------- ---------- ----------
Net equity transactions ................ 24,576,158 171,697,375 (9,278,888) 2,431,930
--------------- ------------- ---------- ----------
NET CHANGE IN CONTRACT OWNERS' EQUITY ......... (26,092,870) 299,641,661 (11,940,894) 10,499,573
CONTRACT OWNERS' EQUITY BEGINNING OF PERIOD ... 2,321,489,033 1,820,312,727 74,620,680 67,083,656
--------------- ------------- ---------- ----------
CONTRACT OWNERS' EQUITY END OF PERIOD ......... $ 2,295,396,163 2,119,954,388 62,679,786 77,583,229
=============== ============= ========== ==========
<CAPTION>
GROWTH PORTFOLIO HIGH INCOME PORTFOLIO
--------------- --------------- --------------- ---------------
2000 1999 2000 1999
--------------- --------------- --------------- ---------------
<S> <C> <C> <C> <C>
INVESTMENT ACTIVITY:
Reinvested dividends ........................ 162,509 103,367 8,858,707 14,171,585
Mortality, expense and administration
charges (note 2) .......................... (1,199,308) (479,796) (864,065) (1,088,146)
--------------- --------------- --------------- ---------------
Net investment activity ................... (1,036,799) (376,429) 7,994,642 13,083,439
--------------- --------------- --------------- ---------------
Proceeds from mutual fund shares sold ....... 2,308,153 2,551,537 37,195,436 25,556,116
Cost of mutual fund shares sold ............. (1,630,100) (1,771,845) (45,171,203) (27,027,967)
--------------- --------------- --------------- ---------------
Realized gain (loss) on investments ....... 678,053 779,692 (7,975,767) (1,471,851)
Change in unrealized gain (loss)
on investments ............................ (8,735,387) 1,614,312 (7,064,009) (1,067,989)
--------------- --------------- --------------- ---------------
Net gain (loss) on investments ............ (8,057,334) 2,394,004 (15,039,776) (2,539,840)
--------------- --------------- --------------- ---------------
Reinvested capital gains .................... 16,169,656 6,499,195 - 529,779
--------------- --------------- --------------- ---------------
Net increase (decrease) in contract
owners equity resulting from
operations ........................... 7,075,523 8,516,770 (7,045,134) 11,073,378
--------------- --------------- --------------- ---------------
EQUITY TRANSACTIONS:
Purchase payments received from
contract owners ........................... 7,927,021 8,097,385 1,511,869 6,102,703
Transfers between funds ..................... 68,994,686 12,658,401 (10,898,672) (14,555,458)
Redemptions ................................. (13,791,756) (2,172,262) (13,203,934) (6,048,757)
Annuity benefits ............................ - - (1,871) (883)
Annual contract maintenance charge (note 2) . (7,919) (2,798) (4,374) (4,767)
Contingent deferred sales charges (note 2) .. (261,333) (58,417) (286,919) (126,189)
Adjustments to maintain reserves ............ 3,108 803 (28,513) 813
--------------- --------------- --------------- ---------------
Net equity transactions ................ 62,863,807 18,523,112 (22,912,414) (14,632,538)
--------------- --------------- --------------- ---------------
NET CHANGE IN CONTRACT OWNERS' EQUITY ......... 69,939,330 27,039,882 (29,957,548) (3,559,160)
CONTRACT OWNERS' EQUITY BEGINNING OF PERIOD ... 127,025,604 56,063,413 143,714,163 154,419,836
CONTRACT OWNERS' EQUITY END OF PERIOD ......... 196,964,934 83,103,295 113,756,615 150,860,676
=============== ============= =============== ===============
-----
</TABLE>
6
<PAGE> 7
NATIONWIDE FIDELITY ADVISOR VARIABLE ACCOUNT
STATEMENTS OF CHANGES IN
CONTRACT OWNERS' EQUITY, CONTINUED
----------------------------------
STATEMENTS OF OPERATIONS, CONTINUED
-----------------------------------
SIX MONTH PERIODS ENDED JUNE 30, 2000 AND 1999
(UNAUDITED)
<TABLE>
<CAPTION>
Money Market Portfolio Overseas Portfolio
---------------------------- ----------------------------
2000 1999 2000 1999
------------ ------------ ------------ ------------
<S> <C> <C> <C> <C>
INVESTMENT ACTIVITY:
Reinvested dividends ........................ $ 2,047,919 1,589,623 1,465,915 1,213,755
Mortality, expense and administration
charges (note 2) .......................... (456,517) (434,304) (745,539) (547,978)
------------ ------------ ------------ ------------
Net investment activity ................... 1,591,402 1,155,319 720,376 665,777
------------ ------------ ------------ ------------
Proceeds from mutual fund shares sold ....... 68,940,407 38,947,122 7,434,473 9,652,778
Cost of mutual fund shares sold ............. (68,940,407) (38,947,122) (5,608,115) (8,554,116)
------------ ------------ ------------ ------------
Realized gain (loss) on investments ....... - - 1,826,358 1,098,662
Change in unrealized gain (loss)
on investments ............................ - - (18,153,363) 1,852,273
------------ ------------ ------------ ------------
Net gain (loss) on investments ............ - - (16,327,005) 2,950,935
------------ ------------ ------------ ------------
Reinvested capital gains .................... - - 9,231,304 1,957,670
------------ ------------ ------------ ------------
Net increase (decrease) in contract
owners equity resulting from
operations ........................... 1,591,402 1,155,319 (6,375,325) 5,574,382
------------ ------------ ------------ ------------
-----
EQUITY TRANSACTIONS:
Purchase payments received from
contract owners ........................... 8,770,765 15,522,933 2,016,860 1,801,004
Transfers between funds ..................... (11,342,221) 8,597,515 15,116,625 (4,547,450)
Redemptions ................................. (14,752,257) (11,865,901) (8,269,469) (2,946,317)
Annuity benefits ............................ - - - -
Annual contract maintenance charge (note 2) . (1,711) (1,697) (5,183) (4,130)
Contingent deferred sales charges (note 2) .. (337,064) (295,408) (147,909) (57,359)
Adjustments to maintain reserves ............ (3,760) (297) 531 711
------------ ------------ ------------ ------------
Net equity transactions ................ (17,666,248) 11,957,145 8,711,455 (5,753,541)
------------ ------------ ------------ ------------
NET CHANGE IN CONTRACT OWNERS' EQUITY ......... (16,074,846) 13,112,464 2,336,130 (179,159)
CONTRACT OWNERS' EQUITY BEGINNING OF PERIOD ... 78,688,253 63,266,840 103,020,698 79,447,569
------------ ------------ ------------ ------------
CONTRACT OWNERS' EQUITY END OF PERIOD ......... $ 62,613,407 76,379,304 105,356,828 79,268,410
============ ============ ============ ============
-----
<CAPTION>
ASSET MANAGER:
ASSET MANAGER PORTFOLIO GROWTH PORTFOLIO
---------------------------- ----------------------------
2000 1999 2000 1999
------------ ------------ ------------ ------------
<S> <C> <C> <C> <C>
INVESTMENT ACTIVITY:
Reinvested dividends ........................ 628,850 515,103 309,267 330,314
Mortality, expense and administration
charges (note 2) .......................... (136,118) (116,975) (105,761) (99,226)
------------ ------------ ------------ ------------
Net investment activity ................... 492,732 398,128 203,506 231,088
------------ ------------ ------------ ------------
Proceeds from mutual fund shares sold ....... 2,587,982 1,242,306 1,863,731 803,239
Cost of mutual fund shares sold ............. (2,689,171) (1,118,340) (1,667,539) (655,348)
------------ ------------ ------------ ------------
Realized gain (loss) on investments ....... (101,189) 123,966 196,192 147,891
Change in unrealized gain (loss)
on investments ............................ (2,146,421) (400,248) (1,975,585) 34,381
------------ ------------ ------------ ------------
Net gain (loss) on investments ............ (2,247,610) (276,282) (1,779,393) 182,272
------------ ------------ ------------ ------------
Reinvested capital gains .................... 1,481,527 652,464 1,253,786 547,838
------------ ------------ ------------ ------------
Net increase (decrease) in contract
owners equity resulting from
operations ........................... (273,351) 774,310 (322,101) 961,198
------------ ------------ ------------ ------------
-----
EQUITY TRANSACTIONS:
Purchase payments received from
contract owners ........................... 636,072 2,063,557 948,860 1,159,970
Transfers between funds ..................... 292,364 1,031,058 541,330 377,353
Redemptions ................................. (1,445,930) (731,207) (1,375,120) (259,748)
Annuity benefits ............................ (17,727) (16,586) - -
Annual contract maintenance charge (note 2) . (769) (553) (778) (763)
Contingent deferred sales charges (note 2) .. (29,895) (5,058) (37,041) (4,293)
Adjustments to maintain reserves ............ 1,539 (155) 533 (350)
------------ ------------ ------------ ------------
Net equity transactions ................ (564,346) 2,341,056 77,784 1,272,169
------------ ------------ ------------ ------------
NET CHANGE IN CONTRACT OWNERS' EQUITY ......... (837,697) 3,115,366 (244,317) 2,233,367
CONTRACT OWNERS' EQUITY BEGINNING OF PERIOD ... 19,808,954 15,168,982 15,748,525 13,224,069
------------ ------------ ------------ ------------
CONTRACT OWNERS' EQUITY END OF PERIOD ......... 18,971,257 18,284,348 15,504,208 15,457,436
============ ============ ============ ============
-----
</TABLE>
(Continued)
7
<PAGE> 8
NATIONWIDE FIDELITY ADVISOR VARIABLE ACCOUNT
STATEMENTS OF CHANGES IN
CONTRACT OWNERS' EQUITY, CONTINUED
----------------------------------
STATEMENTS OF OPERATIONS, CONTINUED
-----------------------------------
SIX MONTH PERIODS ENDED JUNE 30, 2000 AND 1999
(UNAUDITED)
<TABLE>
<CAPTION>
CONTRAFUND PORTFOLIO INDEX 500 PORTFOLIO
------------------------------ ------------------------------
2000 1999 2000 1999
------------- ------------- ------------- -------------
<S> <C> <C> <C> <C>
INVESTMENT ACTIVITY:
Reinvested dividends ........................ $ 458,572 428,489 1,800,685 795,231
Mortality, expense and administration
charges (note 2) .......................... (971,925) (667,669) (1,088,987) (628,733)
------------- ------------- ------------- -------------
Net investment activity ................... (513,353) (239,180) 711,698 166,498
------------- ------------- ------------- -------------
Proceeds from mutual fund shares sold ....... 2,192,219 2,682,821 9,167,415 1,989,208
Cost of mutual fund shares sold ............. (1,380,435) (1,782,034) (5,860,709) (1,307,502)
------------- ------------- ------------- -------------
Realized gain (loss) on investments ....... 811,784 900,787 3,306,706 681,706
Change in unrealized gain (loss)
on investments ............................ (19,736,794) 5,726,365 (6,478,342) 9,497,967
------------- ------------- ------------- -------------
Net gain (loss) on investments ............ (18,925,010) 6,627,152 (3,171,636) 10,179,673
------------- ------------- ------------- -------------
Reinvested capital gains .................... 16,646,176 3,142,250 787,126 539,621
------------- ------------- ------------- -------------
Net increase (decrease) in contract
owners equity resulting from
operations ........................... (2,792,187) 9,530,222 (1,672,812) 10,885,792
------------- ------------- ------------- -------------
-----
EQUITY TRANSACTIONS:
Purchase payments received from
contract owners ........................... 5,545,529 8,427,939 22,980,304 39,707,010
Transfers between funds ..................... 25,364,791 8,363,187 11,273,905 8,138,091
Redemptions ................................. (9,509,109) (3,358,682) (9,370,813) (3,035,253)
Annuity benefits ............................ - - - -
Annual contract maintenance charge (note 2) . (7,815) (5,240) (5,722) (4,108)
Contingent deferred sales charges (note 2) .. (177,038) (86,254) (192,368) (76,743)
Adjustments to maintain reserves ............ (8,551) 948 3,622 996
------------- ------------- ------------- -------------
Net equity transactions ................ 21,207,807 13,341,898 24,688,928 44,729,993
------------- ------------- ------------- -------------
NET CHANGE IN CONTRACT OWNERS' EQUITY .......... 18,415,620 22,872,120 23,016,116 55,615,785
CONTRACT OWNERS' EQUITY BEGINNING OF PERIOD .... 125,247,172 84,727,181 169,943,912 75,161,985
------------- ------------- ------------- -------------
CONTRACT OWNERS' EQUITY END OF PERIOD .......... $ 143,662,792 107,599,301 192,960,028 130,777,770
============= ============= ============= =============
-----
<CAPTION>
INVESTMENT GRADE
BOND PORTFOLIO BALANCED PORTFOLIO
------------- ------------- ------------- -------------
2000 1999 2000 1999
------------- ------------- ------------- -------------
INVESTMENT ACTIVITY:
Reinvested dividends ........................ 4,438,684 2,225,217 4,428,912 3,795,276
Mortality, expense and administration
charges (note 2) .......................... (398,494) (380,250) (955,509) (1,158,168)
------------- ------------- ------------- -------------
Net investment activity ................... 4,040,190 1,844,967 3,473,403 2,637,108
------------- ------------- ------------- -------------
Proceeds from mutual fund shares sold ....... 10,088,365 6,199,820 24,086,854 9,557,467
Cost of mutual fund shares sold ............. (10,111,928) (5,900,121) (17,888,150) (6,559,792)
------------- ------------- ------------- -------------
Realized gain (loss) on investments ....... (23,563) 299,699 6,198,704 2,997,675
Change in unrealized gain (loss)
on investments ............................ (2,045,004) (4,261,449) (14,973,208) (3,245,262)
------------- ------------- ------------- -------------
Net gain (loss) on investments ............ (2,068,567) (3,961,750) (8,774,504) (247,587)
------------- ------------- ------------- -------------
Reinvested capital gains .................... - 698,107 3,690,760 4,410,726
------------- ------------- ------------- -------------
Net increase (decrease) in contract
owners equity resulting from
operations ........................... 1,971,623 (1,418,676) (1,610,341) 6,800,247
------------- ------------- ------------- -------------
-----
EQUITY TRANSACTIONS:
Purchase payments received from
contract owners ........................... 6,015,239 11,905,540 1,522,391 4,926,780
Transfers between funds ..................... (5,839,818) 479,121 (10,740,769) (4,580,038)
Redemptions ................................. (4,310,769) (2,864,994) (12,991,102) (6,556,773)
Annuity benefits ............................ (14,757) (15,236) (7,141) (674)
Annual contract maintenance charge (note 2) . (1,204) (1,352) (6,959) (7,260)
Contingent deferred sales charges (note 2) .. (77,463) (50,544) (230,546) (106,391)
Adjustments to maintain reserves ............ (12,920) (178) (7,554) (122,010)
------------- ------------- ------------- -------------
Net equity transactions ................ (4,241,692) 9,452,357 (22,461,680) (6,446,366)
------------- ------------- ------------- -------------
NET CHANGE IN CONTRACT OWNERS' EQUITY ......... (2,270,069) 8,033,681 (24,072,021) 353,881
CONTRACT OWNERS' EQUITY BEGINNING OF PERIOD ... 66,131,246 54,123,958 153,329,365 165,682,211
------------- ------------- ------------- -------------
CONTRACT OWNERS' EQUITY END OF PERIOD ......... 63,861,177 62,157,639 129,257,344 166,036,092
============= ============= ============= =============
-----
</TABLE>
8
<PAGE> 9
NATIONWIDE FIDELITY ADVISOR VARIABLE ACCOUNT
STATEMENTS OF CHANGES IN
CONTRACT OWNERS' EQUITY, CONTINUED
----------------------------------
STATEMENTS OF OPERATIONS, CONTINUED
-----------------------------------
SIX MONTH PERIODS ENDED JUNE 30,2000 AND 1999
(UNAUDITED)
<TABLE>
<CAPTION>
GROWTH AND INCOME GROWTH OPPORTUNITIES
PORTFOLIO PORTFOLIO
---------------------------- ----------------------------
2000 1999 2000 1999
------------ ------------ ------------ ------------
<S> <C> <C> <C> <C>
INVESTMENT ACTIVITY:
Reinvested dividends ........................ $ 795,542 372,758 8,086,703 7,748,077
Mortality, expense and administration
charges (note 2) .......................... (476,218) (447,104) (4,123,240) (5,314,911)
------------ ------------ ------------ ------------
Net investment activity ................... 319,324 (74,346) 3,963,463 2,433,166
------------ ------------ ------------ ------------
Proceeds from mutual fund shares sold ....... 9,150,333 1,641,154 137,139,165 46,245,098
Cost of mutual fund shares sold ............. (6,466,462) (1,045,671) (85,222,780) (24,980,851)
------------ ------------ ------------ ------------
Realized gain (loss) on investments ....... 2,683,871 595,483 51,916,385 21,264,247
Change in unrealized gain (loss)
on investments ............................ (10,385,600) 3,221,836 (128,189,990) 4,530,167
------------ ------------ ------------ ------------
Net gain (loss) on investments ............ (7,701,729) 3,817,319 (76,273,605) 25,794,414
------------ ------------ ------------ ------------
Reinvested capital gains .................... 5,191,956 745,516 41,011,135 14,485,535
------------ ------------ ------------ ------------
Net increase (decrease) in contract
owners equity resulting from
operations ........................... (2,190,449) 4,488,489 (31,299,007) 42,713,115
------------ ------------ ------------ ------------
-------
EQUITY TRANSACTIONS:
Purchase payments received from
contract owners ........................... 3,284,756 7,625,864 6,372,150 22,197,646
Transfers between funds ..................... (1,199,992) 3,858,767 (83,894,779) (24,241,258)
Redemptions ................................. (6,207,949) (2,125,680) (54,342,276) (34,580,397)
Annuity benefits ............................ - - (4,606) (2,529)
Annual contract maintenance charge (note 2) . (3,927) (2,390) (40,866) (44,616)
Contingent deferred sales charges (note 2) .. (148,410) (47,147) (1,009,081) (735,912)
Adjustments to maintain reserves ............ 3,671 421 23,010 5,976
------------ ------------ ------------ ------------
Net equity transactions ................ (4,271,851) 9,309,835 (132,896,448) (37,401,090)
------------ ------------ ------------ ------------
NET CHANGE IN CONTRACT OWNERS' EQUITY ......... (6,462,300) 13,798,324 (164,195,455) 5,312,025
CONTRACT OWNERS' EQUITY BEGINNING OF PERIOD ... 73,283,008 57,354,937 707,620,034 775,505,231
------------ ------------ ------------ ------------
CONTRACT OWNERS' EQUITY END OF PERIOD ......... $ 66,820,708 71,153,261 543,424,579 780,817,256
============ ============ ============ ============
-------
<CAPTION>
EQUITY-INCOME PORTFOLIO:
MID CAP PORTFOLIO SERVICE CLASS
---------------------------- ----------------------------
2000 1999 2000 1999
------------ ------------ ------------ ------------
<S> <C> <C> <C> <C>
INVESTMENT ACTIVITY:
Reinvested dividends ........................ - - 673,911 298,320
Mortality, expense and administration
charges (note 2) .......................... (8,136) (134) (199,912) (115,874)
------------ ------------ ------------ ------------
Net investment activity ................... (8,136) (134) 473,999 182,446
------------ ------------ ------------ ------------
Proceeds from mutual fund shares sold ....... 97,553 152 3,687,511 1,257,471
Cost of mutual fund shares sold ............. (60,539) (144) (4,080,761) (1,243,009)
------------ ------------ ------------ ------------
Realized gain (loss) on investments ....... 37,014 8 (393,250) 14,462
Change in unrealized gain (loss)
on investments ............................ 82,405 3,246 (3,989,199) 1,975,147
------------ ------------ ------------ ------------
Net gain (loss) on investments ............ 119,419 3,254 (4,382,449) 1,989,609
------------ ------------ ------------ ------------
Reinvested capital gains .................... 1,834 - 2,599,370 659,443
------------ ------------ ------------ ------------
Net increase (decrease) in contract
owners equity resulting from
operations ........................... 113,117 3,120 (1,309,080) 2,831,498
------------ ------------ ------------ ------------
-------
EQUITY TRANSACTIONS:
Purchase payments received from
contract owners ........................... 171,239 4,224 7,270,725 10,057,970
Transfers between funds ..................... 1,438,814 42,091 (2,567,873) (691,604)
Redemptions ................................. (35,136) - (1,194,318) (627,036)
Annuity benefits ............................ - - - -
Annual contract maintenance charge (note 2) . (960) (54) - -
Contingent deferred sales charges (note 2) .. (605) - (27,016) (12,075)
Adjustments to maintain reserves ............ 191 (6,165) (470) 144
------------ ------------ ------------ ------------
Net equity transactions ................ 1,573,543 40,096 3,481,048 8,727,399
------------ ------------ ------------ ------------
NET CHANGE IN CONTRACT OWNERS' EQUITY ......... 1,686,660 43,216 2,171,968 11,558,897
CONTRACT OWNERS' EQUITY BEGINNING OF PERIOD ... 269,661 - 40,383,800 19,246,515
------------ ------------ ------------ ------------
CONTRACT OWNERS' EQUITY END OF PERIOD ......... 1,956,321 43,216 42,555,768 30,805,412
============ ============ ============ ============
-------
</TABLE>
(Continued)
9
<PAGE> 10
NATIONWIDE FIDELITY ADVISOR VARIABLE ACCOUNT
STATEMENTS OF CHANGES IN
CONTRACT OWNERS' EQUITY, CONTINUED
----------------------------------
STATEMENTS OF OPERATIONS, CONTINUED
-----------------------------------
SIX MONTH PERIODS ENDED JUNE 30, 2000 AND 1999
(UNAUDITED)
<TABLE>
<CAPTION>
GROWTH PORTFOLIO: HIGH INCOME PORTFOLIO:
SERVICE CLASS SERVICE CLASS
------------------------------ ------------------------------
2000 1999 2000 1999
------------- ------------- ------------- -------------
<S> <C> <C> <C> <C>
INVESTMENT ACTIVITY:
Reinvested dividends ........................ $ 92,922 40,526 2,709,270 1,960,183
Mortality, expense and administration
charges (note 2) .......................... (565,536) (150,911) (200,932) (122,211)
------------- ------------- ------------- -------------
Net investment activity ................... (472,614) (110,385) 2,508,338 1,837,972
------------- ------------- ------------- -------------
Proceeds from mutual fund shares sold ....... 973,750 884,056 1,741,387 678,389
Cost of mutual fund shares sold ............. (698,906) (731,234) (2,130,067) (763,425)
------------- ------------- ------------- -------------
Realized gain (loss) on investments ....... 274,844 152,822 (388,680) (85,036)
Change in unrealized gain (loss)
on investments ............................ (5,819,052) 1,363,908 (4,388,415) (193,914)
------------- ------------- ------------- -------------
Net gain (loss) on investments ............ (5,544,208) 1,516,730 (4,777,095) (278,950)
------------- ------------- ------------- -------------
Reinvested capital gains .................... 11,094,915 2,548,095 - 73,278
------------- ------------- ------------- -------------
Net increase (decrease) in contract
owners equity resulting from
operations ........................... 5,078,093 3,954,440 (2,268,757) 1,632,300
------------- ------------- ------------- -------------
EQUITY TRANSACTIONS:
Purchase payments received from
contract owners ........................... 25,896,623 22,553,999 7,206,701 10,488,588
Transfers between funds ..................... 10,099,086 1,401,096 (2,621,409) (350,854)
Redemptions ................................. (3,156,369) (833,019) (1,310,591) (657,423)
Annuity benefits ............................ - - - -
Annual contract maintenance charge (note 2).. - - - -
Contingent deferred sales charges (note 2)... (81,929) (23,264) (31,887) (17,542)
Adjustments to maintain reserves ............ 1,318 244 481 55
------------- ------------- ------------- -------------
Net equity transactions ................ 32,758,729 23,099,056 3,243,295 9,462,824
------------- ------------- ------------- -------------
NET CHANGE IN CONTRACT OWNERS' EQUITY ......... 37,836,822 27,053,496 974,538 11,095,124
CONTRACT OWNERS' EQUITY BEGINNING OF PERIOD ... 92,221,505 19,330,166 40,145,880 19,647,222
------------- ------------- ------------- -------------
CONTRACT OWNERS' EQUITY END OF PERIOD ......... $ 130,058,327 46,383,662 41,120,418 30,742,346
============= ============= ============= =============
<CAPTION>
OVERSEAS PORTFOLIO: ASSET MANAGER PORTFOLIO:
SERVICE CLASS SERVICE CLASS
------------------------------ ------------------------------
2000 1999 2000 1999
------------- ------------- ------------- -------------
<S> <C> <C> <C> <C>
INVESTMENT ACTIVITY:
Reinvested dividends ........................ 305,314 100,837 360,044 134,952
Mortality, expense and administration
charges (note 2) .......................... (129,987) (36,914) (57,666) (26,077)
------------- ------------- ------------- -------------
Net investment activity ................... 175,327 63,923 302,378 108,875
------------- ------------- ------------- -------------
Proceeds from mutual fund shares sold ....... 2,988,041 762,423 983,946 474,680
Cost of mutual fund shares sold ............. (2,500,100) (798,811) (965,528) (470,856)
------------- ------------- ------------- -------------
Realized gain (loss) on investments ....... 487,941 (36,388) 18,418 3,824
Change in unrealized gain (loss)
on investments ............................ (3,999,478) 372,538 (1,317,316) (14,471)
------------- ------------- ------------- -------------
Net gain (loss) on investments ............ (3,511,537) 336,150 (1,298,898) (10,647)
------------- ------------- ------------- -------------
Reinvested capital gains .................... 1,976,060 162,640 862,863 170,940
------------- ------------- ------------- -------------
Net increase (decrease) in contract
owners equity resulting from
operations ........................... (1,360,150) 562,713 (133,657) 269,168
------------- ------------- ------------- -------------
EQUITY TRANSACTIONS:
Purchase payments received from
contract owners ........................... 6,604,117 2,905,135 1,866,022 2,898,292
Transfers between funds ..................... 4,939,211 798,810 (463,165) 866,689
Redemptions ................................. (687,733) (265,144) (373,384) (81,387)
Annuity benefits ............................ - - - -
Annual contract maintenance charge (note 2).. - - - -
Contingent deferred sales charges (note 2)... (14,257) (8,026) (4,664) (538)
Adjustments to maintain reserves ............ (500) 9 62 7
------------- ------------- ------------- -------------
Net equity transactions ................ 10,840,838 3,430,784 1,024,871 3,683,063
------------- ------------- ------------- -------------
NET CHANGE IN CONTRACT OWNERS' EQUITY ......... 9,480,688 3,993,497 891,214 3,952,231
CONTRACT OWNERS' EQUITY BEGINNING OF PERIOD ... 20,524,132 5,864,005 11,290,214 3,718,589
------------- ------------- ------------- -------------
CONTRACT OWNERS' EQUITY END OF PERIOD ......... 30,004,820 9,857,502 12,181,428 7,670,820
============= ============= ============= =============
</TABLE>
10
<PAGE> 11
NATIONWIDE FIDELITY ADVISOR VARIABLE ACCOUNT
STATEMENTS OF CHANGES IN
CONTRACT OWNERS' EQUITY, CONTINUED
----------------------------------
STATEMENTS OF OPERATIONS, CONTINUED
-----------------------------------
SIX MONTH PERIODS ENDED JUNE 30, 2000 AND 1999
(UNAUDITED)
<TABLE>
<CAPTION>
ASSET MANAGER: CONTRAFUND PORTFOLIO:
GROWTH PORTFOLIO:SERVICE CLASS SERVICE CLASS
------------------------------ --------------------------
2000 1999 2000 1999
----------- ----------- ----------- -----------
<S> <C> <C> <C> <C>
INVESTMENT ACTIVITY:
Reinvested dividends ........................ $ 168,731 68,429 207,533 80,508
Mortality, expense and administration
charges (note 2) .......................... (43,712) (18,945) (322,125) (107,934)
----------- ----------- ----------- -----------
Net investment activity ................... 125,019 49,484 (114,592) (27,426)
----------- ----------- ----------- -----------
Proceeds from mutual fund shares sold ....... 623,464 418,362 1,258,775 623,243
Cost of mutual fund shares sold ............. (617,753) (403,042) (1,046,735) (524,615)
----------- ----------- ----------- -----------
Realized gain (loss) on investments ....... 5,711 15,320 212,040 98,628
Change in unrealized gain (loss)
on investments ............................ (960,925) 122,033 (8,797,905) 1,605,371
----------- ----------- ----------- -----------
Net gain (loss) on investments ............ (955,214) 137,353 (8,585,865) 1,703,999
----------- ----------- ----------- -----------
Reinvested capital gains .................... 703,046 113,492 7,533,464 590,393
----------- ----------- ----------- -----------
Net increase (decrease) in contract
owners equity resulting from
operations ........................... (127,149) 300,329 (1,166,993) 2,266,966
----------- ----------- ----------- -----------
EQUITY TRANSACTIONS:
Purchase payments received from
contract owners ........................... 2,028,666 2,697,503 14,325,796 14,224,181
Transfers between funds ..................... 83,269 (28,946) 2,774,209 1,378,103
Redemptions ................................. (386,971) (56,797) (1,612,300) (833,842)
Annuity benefits ............................ - - - -
Annual contract maintenance charge (note 2).. - - - -
Contingent deferred sales charges (note 2)... (8,467) (574) (42,739) (13,674)
Adjustments to maintain reserves ............ 13 20 (315) 110
----------- ----------- ----------- -----------
Net equity transactions ................ 1,716,510 2,611,206 15,444,651 14,754,878
----------- ----------- ----------- -----------
NET CHANGE IN CONTRACT OWNERS' EQUITY ......... 1,589,361 2,911,535 14,277,658 17,021,844
CONTRACT OWNERS' EQUITY BEGINNING OF PERIOD ... 8,038,316 2,498,347 56,270,545 14,829,049
----------- ----------- ----------- -----------
CONTRACT OWNERS' EQUITY END OF PERIOD ......... $ 9,627,677 5,409,882 70,548,203 31,850,893
=========== =========== =========== ===========
<CAPTION>
BALANCED PORTFOLIO: GROWTH AND INCOME PORTFOLIO:
SERVICE CLASS SERVICE CLASS
-------------------------- --------------------------
2000 1999 2000 1999
----------- ----------- ----------- -----------
<S> <C> <C> <C> <C>
INVESTMENT ACTIVITY:
Reinvested dividends ........................ 787,716 260,297 681,847 131,543
Mortality, expense and administration
charges (note 2) .......................... (129,675) (67,345) (307,755) (134,411)
----------- ----------- ----------- -----------
Net investment activity ................... 658,041 192,952 374,092 (2,868)
----------- ----------- ----------- -----------
Proceeds from mutual fund shares sold ....... 1,863,389 71,938 2,022,753 482,397
Cost of mutual fund shares sold ............. (1,879,729) (69,790) (1,841,323) (424,003)
----------- ----------- ----------- -----------
Realized gain (loss) on investments ....... (16,340) 2,148 181,430 58,394
Change in unrealized gain (loss)
on investments ............................ (1,470,060) 107,612 (6,519,503) 1,782,992
----------- ----------- ----------- -----------
Net gain (loss) on investments ............ (1,486,400) 109,760 (6,338,073) 1,841,386
----------- ----------- ----------- -----------
Reinvested capital gains .................... 670,396 302,507 4,449,952 263,087
----------- ----------- ----------- -----------
Net increase (decrease) in contract
owners equity resulting from
operations ........................... (157,963) 605,219 (1,514,029) 2,101,605
----------- ----------- ----------- -----------
EQUITY TRANSACTIONS:
Purchase payments received from
contract owners ........................... 4,938,686 8,481,537 12,974,137 17,947,145
Transfers between funds ..................... (3,038,625) 207,801 (2,719,293) 1,577,617
Redemptions ................................. (909,319) (352,759) (1,989,060) (697,293)
Annuity benefits ............................ - - - -
Annual contract maintenance charge (note 2).. - - - -
Contingent deferred sales charges (note 2)... (19,211) (8,463) (54,388) (11,230)
Adjustments to maintain reserves ............ (162) 6 1,797 124
----------- ----------- ----------- -----------
Net equity transactions ................ 971,369 8,328,122 8,213,193 18,816,363
----------- ----------- ----------- -----------
NET CHANGE IN CONTRACT OWNERS' EQUITY ......... 813,406 8,933,341 6,699,164 20,917,968
CONTRACT OWNERS' EQUITY BEGINNING OF PERIOD ... 26,616,726 9,548,789 59,046,396 18,359,783
----------- ----------- ----------- -----------
CONTRACT OWNERS' EQUITY END OF PERIOD ......... 27,430,132 18,482,130 65,745,560 39,277,751
=========== =========== =========== ===========
</TABLE>
(Continued)
11
<PAGE> 12
NATIONWIDE FIDELITY ADVISOR VARIABLE ACCOUNT
STATEMENTS OF CHANGES IN
CONTRACT OWNERS' EQUITY, CONTINUED
----------------------------------
STATEMENTS OF OPERATIONS, CONTINUED
-----------------------------------
SIX MONTH PERIODS ENDED JUNE 30, 2000 AND 1999
(UNAUDITED)
<TABLE>
<CAPTION>
GROWTH OPPORTUNITIES MID CAP PORTFOLIO:
PORTFOLIO:SERVICE CLASS SERVICE CLASS
------------------------------ ------------------------------
2000 1999 2000 1999
------------- ------------- ------------- -------------
<S> <C> <C> <C> <C>
INVESTMENT ACTIVITY:
Reinvested dividends ........................ $ 1,244,462 484,433 - -
Mortality, expense and administration
charges (note 2) .......................... (505,835) (293,615) (71,896) (1,002)
------------- ------------- ------------- -------------
Net investment activity ................... 738,627 190,818 (71,896) (1,002)
------------- ------------- ------------- -------------
Proceeds from mutual fund shares sold ....... 4,932,313 562,935 3,626,636 574,144
Cost of mutual fund shares sold ............. (4,821,291) (485,335) (2,526,661) (553,276)
------------- ------------- ------------- -------------
Realized gain (loss) on investments ....... 111,022 77,600 1,099,975 20,868
Change in unrealized gain (loss)
on investments ............................ (11,801,353) 3,036,623 514,985 22,985
------------- ------------- ------------- -------------
Net gain (loss) on investments ............ (11,690,331) 3,114,223 1,614,960 43,853
------------- ------------- ------------- -------------
Reinvested capital gains .................... 6,544,946 946,847 22,901 -
------------- ------------- ------------- -------------
Net increase (decrease) in contract
owners equity resulting from
operations ........................... (4,406,758) 4,251,888 1,565,965 42,851
------------- ------------- ------------- -------------
EQUITY TRANSACTIONS:
Purchase payments received from
contract owners ........................... 19,527,570 30,611,275 4,719,600 391,338
Transfers between funds ..................... (10,291,369) 391,438 10,836,766 68,170
Redemptions ................................. (2,931,205) (1,799,178) (445,499) (1,744)
Annuity benefits ............................ - - - -
Annual contract maintenance charge (note 2).. - - - -
Contingent deferred sales charges (note 2)... (76,778) (43,994) (9,369) -
Adjustments to maintain reserves ............ 2,926 330 9,367 (11)
------------- ------------- ------------- -------------
Net equity transactions ................ 6,231,144 29,159,871 15,110,865 457,753
------------- ------------- ------------- -------------
NET CHANGE IN CONTRACT OWNERS' EQUITY ......... 1,824,386 33,411,759 16,676,830 500,604
CONTRACT OWNERS' EQUITY BEGINNING OF PERIOD ... 104,212,302 46,040,394 4,287,942 -
------------- ------------- ------------- -------------
CONTRACT OWNERS' EQUITY END OF PERIOD ......... $ 106,036,688 79,452,153 20,964,772 500,604
============= ============= ============= =============
<CAPTION>
EQUITY-INCOME PORTFOLIO: GROWITH PORTFOLIO:
SERVICE CLASS 2 SERVICE CLASS 2
--------------------- ---------------------
2000 1999 2000 1999
------------- ---- ------------- ----
<S> <C> <C> <C> <C>
INVESTMENT ACTIVITY:
Reinvested dividends ........................ - - - -
Mortality, expense and administration
charges (note 2) .......................... (577) - (4,912) -
------------- ---- ------------- ----
Net investment activity ................... (577) - (4,912) -
------------- ---- ------------- ----
Proceeds from mutual fund shares sold ....... 18 - 3 -
Cost of mutual fund shares sold ............. (18) - (3) -
------------- ---- ------------- ----
Realized gain (loss) on investments ....... - - - -
Change in unrealized gain (loss)
on investments ............................ (21,371) - 286,423 -
------------- ---- ------------- ----
Net gain (loss) on investments ............ (21,371) - 286,423 -
------------- ---- ------------- ----
Reinvested capital gains .................... - - - -
------------- ---- ------------- ----
Net increase (decrease) in contract
owners equity resulting from
operations ........................... (21,948) - 281,511 -
------------- ---- ------------- ----
EQUITY TRANSACTIONS:
Purchase payments received from
contract owners ........................... 993,519 - 5,887,917 -
Transfers between funds ..................... - - 42,870 -
Redemptions ................................. (319) - (47,973) -
Annuity benefits ............................ - - - -
Annual contract maintenance charge (note 2).. - - - -
Contingent deferred sales charges (note 2)... - - (1,710) -
Adjustments to maintain reserves ............ (2) - 23 -
------------- ---- ------------- ----
Net equity transactions ................ 993,198 - 5,881,127 -
------------- ---- ------------- ----
NET CHANGE IN CONTRACT OWNERS' EQUITY ......... 971,250 - 6,162,638 -
CONTRACT OWNERS' EQUITY BEGINNING OF PERIOD ... - - - -
------------- ---- ------------- ----
CONTRACT OWNERS' EQUITY END OF PERIOD ......... 971,250 - 6,162,638 -
============= ==== ============= ====
</TABLE>
12
<PAGE> 13
NATIONWIDE FIDELITY ADVISOR VARIABLE ACCOUNT
STATEMENTS OF CHANGES IN
CONTRACT OWNERS' EQUITY, CONTINUED
--------------------------------------
STATEMENTS OF OPERATIONS, CONTINUED
-----------------------------------
SIX MONTH PERIODS ENDED JUNE 30, 2000 AND 1999
(UNAUDITED)
<TABLE>
<CAPTION>
ASSET MANAGER:
HIGH INCOME OVERSEAS ASSET MANAGER GROWTH
PORTFOLIO: PORTFOLIO: PORTFOLIO: PORTFOLIO:
SERVICE CLASS 2 SERVICE CLASS 2 SERVICE CLASS 2 SERVICE CLASS 2
------------------- ----------------- ---------------- ----------------
2000 1999 2000 1999 2000 1999 2000 1999
---------- ------ --------- ------ ------- ------ ------- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
INVESTMENT ACTIVITY:
Reinvested dividends ........................ $ -- -- -- -- -- -- -- --
Mortality, expense and administration
charges (note 2) .......................... (623) -- (1,544) -- (344) -- (453) --
---------- ------ --------- ------ ------- ------ ------- ------
Net investment activity ................... (623) -- (1,544) -- (344) -- (453) --
---------- ------ --------- ------ ------- ------ ------- ------
Proceeds from mutual fund shares sold ....... 31 -- 36,919 -- 34,311 -- 15,138 --
Cost of mutual fund shares sold ............. (31) -- (36,708) -- (33,126) -- (14,913) --
---------- ------ --------- ------ ------- ------ ------- ------
Realized gain (loss) on investments ....... -- -- 211 -- 1,185 -- 225 --
Change in unrealized gain (loss)
on investments ............................ 4,579 -- 36,604 -- (2,236) -- 17,423 --
---------- ------ --------- ------ ------- ------ ------- ------
Net gain (loss) on investments ............ 4,579 -- 36,815 -- (1,051) -- 17,648 --
---------- ------ --------- ------ ------- ------ ------- ------
Reinvested capital gains .................... -- -- -- -- -- -- -- --
---------- ------ --------- ------ ------- ------ ------- ------
Net increase (decrease) in contract
owners equity resulting from
operations ........................... 3,956 -- 35,271 -- (1,395) -- 17,195 --
---------- ------ --------- ------ ------- ------ ------- ------
EQUITY TRANSACTIONS:
Purchase payments received from
contract owners ........................... 905,070 -- 1,760,432 -- 573,405 -- 531,110 --
Transfers between funds ..................... -- -- 5,898 -- -- -- -- --
Redemptions ................................. (2,176) -- (6,812) -- (168) -- (164) --
Annuity benefits ............................ -- -- -- -- -- -- -- --
Annual contract maintenance charge (note 2).. -- -- -- -- -- -- -- --
Contingent deferred sales charges (note 2)... -- -- -- -- -- -- -- --
Adjustments to maintain reserves ............ (3) -- (1) -- (20) -- 493 --
---------- ------ --------- ------ ------- ------ ------- ------
Net equity transactions ................ 902,891 -- 1,759,517 -- 573,217 -- 531,439 --
---------- ------ --------- ------ ------- ------ ------- ------
NET CHANGE IN CONTRACT OWNERS' EQUITY ......... 906,847 -- 1,794,788 -- 571,822 -- 548,634 --
CONTRACT OWNERS' EQUITY BEGINNING OF PERIOD ... -- -- -- -- -- -- -- --
---------- ------ --------- ------ ------- ------ ------- ------
CONTRACT OWNERS' EQUITY END OF PERIOD ......... $ 906,847 -- 1,794,788 -- 571,822 -- 548,634 --
========== ====== ========= ====== ======= ====== ======= ======
</TABLE>
(Continued)
13
<PAGE> 14
NATIONWIDE FIDELITY ADVISOR VARIABLE ACCOUNT
STATEMENTS OF CHANGES IN
CONTRACT OWNERS'EQUITY, CONTINUED
--------------------------------------
STATEMENTS OF OPERATIONS, CONTINUED
---------------------------------------
SIX MONTH PERIODS ENDED JUNE 30, 2000 AND 1999
(UNAUDITED)
<TABLE>
<CAPTION>
CONTRAFUND GROWTH & INCOME GROWTH
PORTFOLIO: BALANCED PORTFOLIO: PORTFOLIO: OPPORTUNITIES
SERVICE CLASS 2 SERVICE CLASS 2 SERVICE CLASS 2 SERVICE CLASS 2
-------------------- ------------------- ----------------- -------------------
2000 1999 2000 1999 2000 1999 2000 1999
----------- ------ ------- ------ --------- ------ --------- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
INVESTMENT ACTIVITY:
Reinvested dividends ....................... $ -- - -- - -- - -- --
Mortality, expense and administration
charges (note 2) ......................... (2,710) - (467) - (1,883) - (1,820) --
----------- ------ ------- ------ --------- ------ --------- ------
Net investment activity .................. (2,710) - (467) - (1,883) - (1,820) --
----------- ------ ------- ------ --------- ------ --------- ------
Proceeds from mutual fund shares sold ...... 154,070 - 24 - 34 - 59 --
Cost of mutual fund shares sold ............ (148,575) - (23) - (32) - (58) --
----------- ------ ------- ------ --------- ------ --------- ------
Realized gain (loss) on investments ...... 5,495 - 1 - 2 - 1 --
Change in unrealized gain (loss)
on investments ........................... 74,347 - 9,114 - 44,923 - 85,206 --
----------- ------ ------- ------ --------- ------ --------- ------
Net gain (loss) on investments ........... 79,842 - 9,115 - 44,925 - 85,207 --
----------- ------ ------- ------ --------- ------ --------- ------
Reinvested capital gains ................... -- - -- - -- - -- --
----------- ------ ------- ------ --------- ------ --------- ------
Net increase (decrease) in contract
owners equity resulting from
operations .......................... 77,132 - 8,648 - 43,042 - 83,387 --
----------- ------ ------- ------ --------- ------ --------- ------
EQUITY TRANSACTIONS:
Purchase payments received from
contract owners .......................... 3,106,454 - 598,247 - 2,166,757 - 2,563,316 --
Transfers between funds .................... (140,287) - -- - 10,958 - -- --
Redemptions ................................ (47,232) - (224) - (5,442) - (3,308) --
Annuity benefits ........................... -- - -- - -- - -- --
Annual contract maintenance charge (note 2) -- - -- - -- - -- --
Contingent deferred sales charges (note 2).. -- - -- - -- - -- --
Adjustments to maintain reserves ........... 5 - (1) - 3 - 9 --
----------- ------ ------- ------ --------- ------ --------- ------
Net equity transactions ............... 2,918,940 - 598,022 - 2,172,276 - 2,560,017 --
----------- ------ ------- ------ --------- ------ --------- ------
NET CHANGE IN CONTRACT OWNERS' EQUITY ........ 2,996,072 - 606,670 - 2,215,318 - 2,643,404 --
CONTRACT OWNERS'EQUITY BEGINNING OF PERIOD ... -- - -- - -- - -- --
----------- ------ ------- ------ --------- ------ --------- ------
CONTRACT OWNERS' EQUITY END OF PERIOD ........ $ 2,996,072 - 606,670 - 2,215,318 - 2,643,404 --
=========== ====== ======= ====== ========= ====== ========= ======
</TABLE>
14
<PAGE> 15
NATIONWIDE FIDELITY ADVISOR VARIABLE ACCOUNT
STATEMENTS OF CHANGES IN
CONTRACT OWNERS'EQUITY, CONTINUED
-----------------------------------
STATEMENTS OF OPERATIONS, CONTINUED
-----------------------------------
SIX MONTH PERIODS ENDED JUNE 30, 2000 AND 1999
(UNAUDITED)
<TABLE>
<CAPTION>
MID CAP PORTFOLIO:
SERVICE CLASS 2
---------------------
2000 1999
---------- ------
<S> <C> <C>
INVESTMENT ACTIVITY:
Reinvested dividends ............................. $ -- --
Mortality, expense and administration
charges (note 2) ............................... (1,337) --
---------- ------
Net investment activity ........................ (1,337) --
---------- ------
Proceeds from mutual fund shares sold ............ 10 --
Cost of mutual fund shares sold .................. (10) --
---------- ------
Realized gain (loss) on investments ............ -- --
Change in unrealized gain (loss)
on investments ................................. 97,036 --
----------- ------
Net gain (loss) on investments ................. 97,036 --
----------- ------
Reinvested capital gains ......................... -- --
Net increase (decrease) in contract
owners equity resulting from
operations ................................ 95,699 --
----------- ------
EQUITY TRANSACTIONS:
Purchase payments received from
contract owners ................................ 1,857,696 --
Transfers between funds .......................... 4,316 --
Redemptions ...................................... (43,296) --
Annuity benefits ................................. -- --
Annual contract maintenance charge (note 2) ...... -- --
Contingent deferred sales charges (note 2) ....... -- --
Adjustments to maintain reserves ................. 528 --
---------- ------
Net equity transactions ..................... 1,819,244 --
---------- ------
NET CHANGE IN CONTRACT OWNERS' EQUITY .............. 1,914,943 --
CONTRACT OWNERS' EQUITY BEGINNING OF PERIOD ........ -- --
---------- ------
CONTRACT OWNERS' EQUITY END OF PERIOD .............. $1,914,943 --
========== ======
</TABLE>
See accompanying notes to financial statements
15
<PAGE> 16
NATIONWIDE FIDELITY ADVISOR VARIABLE ACCOUNT
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2000 AND 1999
(UNAUDITED)
(1) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
(a) Organization and Nature of Operations
Nationwide Fidelity Advisor Variable Account (the Account) was
established pursuant to a resolution of the Board of Directors of
Nationwide Life Insurance Company (the Company) on July 22, 1994. The
Account has been registered as a unit investment trust under the
Investment Company Act of 1940.
The Company offers tax qualified and non-tax qualified Individual
Deferred Variable Annuity Contracts, and Individual Modified Single
Premium Deferred Variable Annuity Contracts through the Account. The
primary distribution for the contracts is through Fidelity
Investments(R).
(b) The Contracts
Only contracts without a front-end sales charge, but with a contingent
deferred sales charge and certain other fees, are offered for purchase.
See note 2 for a discussion of contract expenses.
With certain exceptions, contract owners in either the accumulation or
the payout phase may invest in any of the following:
Funds available in the Fidelity Advisor Classic and Select
Products:
Portfolios of the Fidelity Variable Insurance Products Fund
(Fidelity VIP);
Fidelity VIP - Equity-Income Portfolio (FidVIPEI)
Fidelity VIP - Growth Portfolio (FidVIPGr)
Fidelity VIP - High Income Portfolio (FidVIPHI)
Fidelity VIP - Money Market Portfolio (FidVIPMMkt)
(also available in the Fidelity Advisor Generations product)
Fidelity VIP - Overseas Portfolio (FidVIPOv)
Portfolios of the Fidelity Variable Insurance Products Fund
II(Fidelity VIP-II);
Fidelity VIP-II - Asset Manager Portfolio (FidVIPAM)
Fidelity VIP-II - Asset Manager: Growth Portfolio (FidVIPAMGr)
Fidelity VIP-II - Contrafund Portfolio (FidVIPCon)
Fidelity VIP-II - Index 500 Portfolio (FidVIPI500)
(also available in the Fidelity Advisor Generations product)
Fidelity VIP-II - Investment Grade Bond Portfolio (FidVIPIGBd)
(also available in the Fidelity Advisor Generations Annuity
product)
Portfolios of the Fidelity Variable Insurance Products Fund
III(Fidelity VIP-III);
Fidelity VIP-III - Balanced Portfolio (FidVIPBal)
Fidelity VIP-III - Growth and Income Portfolio (FidVIPGrIn)
Fidelity VIP-III - Growth Opportunities Portfolio (FidVIPGrOp)
Fidelity VIP-III - Mid Cap Portfolio (FidVIPMCap)
Funds available in the Fidelity Advisor Generations product:
Portfolios of the Fidelity Variable Insurance Products Fund
(Fidelity VIP);
Fidelity VIP - Equity-Income Portfolio: Service Class
(FidVIPEIS)
Fidelity VIP - Growth Portfolio: Service Class (FidVIPGrS)
Fidelity VIP - High Income Portfolio: Service Class
(FidVIPHIS)
Fidelity VIP - Overseas Portfolio: Service Class (FidVIPOvS)
Portfolios of the Fidelity Variable Insurance Products Fund II
(Fidelity VIP-II);
Fidelity VIP-II - Asset Manager Portfolio: Service Class
(FidVIPAMS)
Fidelity VIP-II - Asset Manager: Growth Portfolio: Service
Class (FidVIPAMGrS)
Fidelity VIP-II - Contrafund Portfolio: Service Class
(FidVIPConS)
16
<PAGE> 17
Portfolios of the Fidelity Variable Insurance Products Fund III
(Fidelity VIP-III);
Fidelity VIP-III - Balanced Portfolio: Service Class
(FidVIPBalS)
Fidelity VIP-III - Growth and Income Portfolio: Service Class
(FidVIPGrInS)
Fidelity VIP-III - Growth Opportunities Portfolio: Service
Class (FidVIPGrOpS)
Fidelity VIP-III - Mid Cap Portfolio: Service Class
(FidVIPMCapS)
Portfolios of the Fidelity Variable Insurance Products Fund
(Fidelity VIP);
Fidelity VIP - Equity-Income Portfolio: Service Class 2
(FidVIPEI2)
Fidelity VIP - Growth Portfolio: Service Class 2 (FidVIPGr2)
Fidelity VIP - High Income Portfolio: Service Class 2
(FidVIPHI2)
Fidelity VIP - Overseas Portfolio: Service Class 2 (FidVIPOv2)
Portfolios of the Fidelity Variable Insurance Products Fund II
(Fidelity VIP-II);
Fidelity VIP-II - Asset Manager Portfolio: Service Class 2
(FidVIPAM2)
Fidelity VIP-II - Asset Manager: Growth Portfolio: Service
Class 2 (FidVIPAMGr2)
Fidelity VIP-II - Contrafund Portfolio: Service Class 2
(FidVIPCon2)
Portfolios of the Fidelity Variable Insurance Products Fund III
(Fidelity VIP-III);
Fidelity VIP-III - Balanced Portfolio: Service Class 2
(FidVIPBal2)
Fidelity VIP-III - Growth and Income Portfolio: Service Class
2 (FidVIPGrIn2)
Fidelity VIP-III - Growth Opportunities Portfolio: Service
Class 2 (FidVIPGrOp2)
Fidelity VIP-III - Mid Cap Portfolio: Service Class 2
(FidVIPMCap2)
At June 30, 2000, contract owners have invested in all of the above
funds. The contract owners' equity is affected by the investment
results of each fund, equity transactions by contract owners and
certain contract expenses (see note 2). The accompanying financial
statements include only contract owners' purchase payments pertaining
to the variable portions of their contracts and exclude any purchase
payments for fixed dollar benefits, the latter being included in the
accounts of the Company.
A contract owner may choose from among a number of different underlying
mutual fund options. The underlying mutual fund options are not
available to the general public directly. The underlying mutual funds
are available as investment options in variable life insurance policies
or variable annuity contracts issued by life insurance companies or, in
some cases, through participation in certain qualified pension or
retirement plans.
Some of the underlying mutual funds have been established by investment
advisers which manage publicly traded mutual funds having similar names
and investment objectives. While some of the underlying mutual funds
may be similar to, and may in fact be modeled after, publicly traded
mutual funds, the underlying mutual funds are not otherwise directly
related to any publicly traded mutual fund. Consequently, the
investment performance of publicly traded mutual funds and any
corresponding underlying mutual funds may differ substantially.
(c) Security Valuation, Transactions and Related Investment Income
The market value of the underlying mutual funds is based on the closing
net asset value per share at June 30, 2000. The cost of investments
sold is determined on a specific identification basis. Investment
transactions are accounted for on the trade date (date the order to buy
or sell is executed) and dividend income is recorded on the ex-dividend
date.
(d) Federal Income Taxes
Operations of the Account form a part of, and are taxed with,
operations of the Company which is taxed as a life insurance company
under the Internal Revenue Code.
The Company does not provide for income taxes within the Account. Taxes
are the responsibility of the contract owner upon termination or
withdrawal.
(Continued)
17
<PAGE> 18
NATIONWIDE FIDELITY ADVISOR VARIABLE ACCOUNT
NOTES TO FINANCIAL STATEMENTS, CONTINUED
(e) Use of Estimates in the Preparation of Financial Statements
The preparation of financial statements in conformity with generally
accepted accounting principles may require management to make estimates
and assumptions that affect the reported amounts of assets and
liabilities and disclosure of contingent assets and liabilities, if
any, at the date of the financial statements and the reported amounts
of revenues and expenses during the reporting period. Actual results
could differ from those estimates.
(f) Calculation of Annuity Reserves
Annuity reserves are computed for contracts in the variable payout
stage according to industry standard mortality tables. The assumed
investment return is 3.5 percent unless the annuitant elects otherwise,
in which case the rate may vary from 3.5 percent to 7 percent, as
regulated by the laws of the respective states. The mortality risk is
fully borne by the Company and may result in additional amounts being
transferred into the Account by the Company to cover greater longevity
of annuitants than expected. Conversely, if reserves exceed amounts
required, transfers may be made to the Company.
(2) EXPENSES
The Company does not deduct a sales charge from purchase payments received
from the contract owners. However, if any part of the contract value of
such contracts is surrendered, the Company will, with certain exceptions,
deduct from a contract owner's contract value a contingent deferred sales
charge, not to exceed 7% of the lesser of purchase payments or the amount
surrendered, such charge declining 1% per year, to 0%, after the purchase
payment has been held in the contract for 84 months. No sales charges are
deducted on redemptions used to purchase units in the fixed investment
options of the Company.
The following contract charges are deducted by the Company:
For Fidelity Advisor Generations Annuity contracts a mortality and expense
risk charge assessed through the daily unit value calculation that ranges
from an annual rate of .95% to a maximum of 2.20% if all permissible rider
options are utilized. For this contract, the rider options include: (a)
reduced purchase payment; (b) five year CDSC; (c) CDSC waiver; (d) death
benefit and (e) guaranteed minimum income benefit.
For Fidelity Advisor Annuity Select contracts a mortality risk, expense
risk and administration charge assessed through the daily unit value
calculation that ranges from an annual rate of 1.40% to a maximum of 1.55%
if the death benefit option is utilized.
For Fidelity Advisor Annuity Classic contracts a mortality risk, expense
risk and administration charge assessed through the daily unit value
calculation equal to an annual rate of 1.30%. Additionally, a contract
maintenance charge of up to $30, dependent upon contract type and issue
date, is satisfied by surrendering units.
The following table provides mortality, expense and administration charges
by asset fee rate for the six month period ended June 30, 2000:
18
<PAGE> 19
<TABLE>
<CAPTION>
Total FidVIPEI FidVIPGr FidVIPHI FidMMkt
------------ ------------ ------------ ------------ ------------
<S> <C> <C> <C> <C> <C>
0.95% .............. $ 1,155,978 - - - 70
1.00% .............. 1,004,881 - - - -
1.05% .............. 283,120 - - - 8,649
1.10% .............. 11,369 - - - 7
1.15% .............. 12,370 - - - -
1.20% .............. 3,549 - - - -
1.25% .............. 2,002 - - - -
1.30% .............. 903,164 26,180 90,217 50,327 23,287
1.35% .............. 35 - - - -
1.40% .............. 10,837,133 410,590 1,038,733 795,045 415,354
1.45% .............. 256,900 16,899 59,751 14,138 5,769
1.50% .............. 64,711 5,152 10,607 4,555 3,295
1.55% .............. 661 - - - 9
1.60% .............. 3,708 - - - 77
1.65% .............. 321 - - - -
1.70% .............. 124 - - - -
1.75% .............. 259 - - - -
1.80% .............. 4 - - - -
1.85% .............. 49 - - - -
1.90% .............. 1 - - - -
------------ ------------ ------------ ------------ ------------
Total .......... $ 14,540,339 458,821 1,199,308 864,065 456,517
============ ============ ============ ============ ============
<CAPTION>
FidVIPOv FidVIPAM FidVIPAMGr FidVIPCon FidVIPI500
------------ ------------ ------------ ------------ ------------
<S> <C> <C> <C> <C> <C>
0.95% .............. $ - - - - 232,374
1.00% .............. - - - - 141,755
1.05% .............. - - - - 30,144
1.10% .............. - - - - 1,887
1.15% .............. - - - - 562
1.20% .............. - - - - 860
1.25% .............. - - - - 142
1.30% .............. 61,359 6,170 5,909 73,083 55,543
1.35% .............. - - - - 13
1.40% .............. 673,826 123,269 96,785 866,828 589,053
1.45% .............. 8,297 5,169 2,117 27,435 28,209
1.50% .............. 2,057 1,510 950 4,579 7,868
1.55% .............. - - - - 54
1.60% .............. - - - - 346
1.65% .............. - - - - 85
1.75% .............. - - - - 65
1.80% .............. - - - - 3
1.85% .............. - - - - 24
------------ ------------ ------------ ------------ ------------
Total .......... $ 745,539 136,118 105,761 971,925 1,088,987
============ ============ ============ ============ ============
<CAPTION>
FidVIPIGBd FidVIPBal FidVIPGrin FidVIPGrOp FidVIPMCap
------------ ------------ ------------ ------------ ------------
<S> <C> <C> <C> <C> <C>
0.95% .............. $ 82 - - - -
1.00% .............. 93 - - - -
1.05% .............. 15,581 - - - -
1.10% .............. 21 - - - -
1.15% .............. 5 - - - -
1.20% .............. 1 - - - -
1.30% .............. 7,997 86,724 30,238 382,444 3,219
1.35% .............. - - - - -
1.40% .............. 368,795 858,164 425,277 3,688,038 4,917
</TABLE>
(Continued)
19
<PAGE> 20
NATIONWIDE FIDELITY ADVISOR VARIABLE ACCOUNT
NOTES TO FINANCIAL STATEMENTS, CONTINUED
<TABLE>
<CAPTION>
Continued FidVIPIGBd FidVIPBal FidVIPGrin FidVIPGrOp FidVIPMCap
------------ ------------ ------------ ------------ ------------
<S> <C> <C> <C> <C> <C>
1.45% .............. 4,266 8,479 16,553 37,561 -
1.50% .............. 1,631 2,142 4,150 15,197 -
1.55% .............. 21 - - - -
1.80% .............. 1 - - - -
------------ ------------ ------------ ------------ ------------
Total .......... $ 398,494 955,509 476,218 4,123,240 8,136
============ ============ ============ ============ ============
<CAPTION>
FidVIPEIS FidVIPGRS FidVIPHIS FidVIPOvS FidVIPAMS
------------ ------------ ------------ ------------ ------------
<S> <C> <C> <C> <C> <C>
0.95% .............. $ 95,812 248,350 107,074 61,046 -
1.00% .............. 78,385 249,546 70,217 51,524 -
1.05% .............. 21,731 49,166 19,524 11,461 6,173
1.10% .............. 1,106 2,494 984 660 -
1.15% .............. 230 4,594 449 166 -
1.20% .............. 190 848 163 198 -
1.25% .............. 90 584 167 137 -
1.30% .............. 30 173 - 10 -
1.35% .............. - 12 - - -
1.40% .............. 366 2,056 582 1,168 51,493
1.45% .............. 1,926 5,988 1,727 2,414 -
1.50% .............. 46 336 31 77 -
1.55% .............. - 106 - 81 -
1.60% .............. - 1,089 - 974 -
1.65% .............. - 90 14 9 -
1.70% .............. - 41 - - -
1.75% .............. - 63 - 62 -
------------ ------------ ------------ ------------ ------------
Total .......... $ 199,912 565,536 200,932 129,987 57,666
============ ============ ============ ============ ============
<CAPTION>
FidVIPAMGrS FidVIPConS FidVIPBalS FidVIPGrIns FidVIPGrOpS
------------ ------------ ------------ ------------ ------------
<S> <C> <C> <C> <C> <C>
0.95% .............. $ 16,403 139,012 - - 230,198
1.00% .............. 19,975 140,075 - - 218,286
1.05% .............. 6,687 30,990 7,595 22,707 44,844
1.10% .............. 290 1,167 - - 2,477
1.15% .............. - 3,506 - - 2,713
1.20% .............. 60 455 - - 687
1.25% .............. 37 383 - - 292
1.30% .............. 90 98 - - 63
1.35% .............. - 9 - - -
1.40% .............. 132 999 122,080 285,048 2,871
1.45% .............. - 4,148 - - 3,058
1.50% .............. 33 277 - - 103
1.55% .............. - 108 - - 42
1.60% .............. - 764 - - 150
1.65% .............. 6 107 - - 10
1.70% .............. - 2 - - 41
1.85% .............. - 25 - - -
------------ ------------ ------------ ------------ ------------
Total .......... $ 43,712 322,125 129,675 307,755 505,835
============ ============ ============ ============ ============
</TABLE>
20
<PAGE> 21
<TABLE>
FidVIPMCapS FidVIPEI2 FidVIPGr2 FidVIPHI2 FidVIPOV2
------------ ------------ ------------ ------------ ------------
<S> <C> <C> <C> <C> <C>
0.95% .............. $ 25,377 - - - -
1.00% .............. 34,704 - - - -
1.05% .............. 7,860 - - - -
1.10% .............. 235 - - - -
1.15% .............. 109 - - - -
1.20% .............. 86 - - - -
1.25% .............. 169 - - - -
1.40% .............. 246 577 4,912 623 1,544
1.45% .............. 2,445 - - - -
1.50% .............. 115 - - - -
1.55% .............. 162 - - - -
1.60% .............. 283 - - - -
1.70% .............. 40 - - - -
1.75% .............. 65 - - - -
------------ ------------ ------------ ------------ ------------
Total .......... $ 71,896 577 4,912 623 1,544
============ ============ ============ ============ ============
FidVIPAM2 FidVIPAMGr2 FidVIPCon2 FidVIPBal2 FidVIPGrIn2
------------ ------------ ------------ ------------ ------------
1.40% .............. $ 344 453 2,710 467 1,883
------------ ------------ ------------ ------------ ------------
Total .......... $ 344 453 2,710 467 1,883
============ ============ ============ ============ ============
<CAPTION>
FidVIPGrOp2 FidVIPMCap2
------------ ------------
<S> <C> <C>
0.95% .............. $ - 180
1.00% .............. - 321
1.05% .............. - 8
1.10% .............. - 41
1.15% .............. - 6
1.20% .............. - 1
1.25% .............. - 1
1.30% .............. - 3
1.35% .............. - 1
1.40% .............. 1,820 86
1.45% .............. - 551
1.55% .............. - 78
1.60% .............. - 25
1.75% .............. - 4
1.90% - 1
------------ ------------
Total .......... $ 1,820 1,337
============ ============
</TABLE>
(3) RELATED PARTY TRANSACTIONS
The Company performs various services on behalf of the Mutual Fund
Companies in which the Account invests and may receive fees for the
services performed. These services include, among other things, shareholder
communications, preparation, postage, fund transfer agency and various
other record keeping and customer service functions. These fees are paid to
an affiliate of the Company.
(Continued)
21
<PAGE> 22
(4) COMPONENTS OF CONTRACT OWNERS' EQUITY
The following is a summary of contract owners' equity at June 30, 2000, for
each series, in both the accumulation and payout phases.
<TABLE>
<CAPTION>
ASSET PERIOD
Contract owners' equity represented by: CHARGE UNITS UNIT VALUE AMOUNT RETURN*
------- ---------- ---------- ------------ --------
<S> <C> <C> <C> <C> <C>
Fidelity VIP - Equity-Income Portfolio:
Tax and non-tax qualified .................. 1.30% 284,779 13.704856 $ 3,902,855 (3)%
1.40% 4,082,947 13.657129 55,761,334 (3)%
1.45% 200,411 11.511236 2,306,978 (3)%
1.50% 58,822 11.495743 676,203 (3)%
Fidelity VIP - Growth Portfolio:
Tax and non-tax qualified ................ 1.30% 741,223 22.666277 16,800,766 4%
1.40% 7,482,805 22.587393 169,017,057 4%
1.45% 495,237 19.479185 9,646,813 4%
1.50% 77,124 19.452989 1,500,292 4%
Fidelity VIP - High Income Portfolio:
Tax and non-tax qualified ................ 1.30% 616,365 11.314644 6,973,951 (5)%
1.40% 9,257,129 11.272741 104,353,218 (6)%
1.45% 191,149 9.612869 1,837,490 (6)%
1.50% 61,042 9.599915 585,998 (6)%
Fidelity VIP - Money Market Portfolio:
Tax and non-tax qualified ................ 0.95% 509,920 11.110432 5,665,431 2%
1.00% 761,867 11.096891 8,454,355 2%
1.05% 196,041 11.083365 2,172,794 2%
1.10% 7,174 10.520450 75,474 2%
1.15% 57,242 10.514234 601,856 2%
1.30% 267,956 11.582415 3,103,578 2%
1.40% 3,546,155 11.539511 40,920,895 2%
1.45% 57,448 11.085399 636,834 2%
1.50% 58,047 11.070419 642,605 2%
1.55% 2,544 10.464537 26,622 2%
1.60% 29,927 10.458326 312,986 2%
Fidelity VIP - Overseas Portfolio:
Tax and non-tax qualified ................ 1.30% 558,100 17.115366 9,552,086 (6)%
1.40% 5,529,948 17.052005 94,296,701 (6)%
1.45% 82,645 14.564432 1,203,677 (6)%
1.50% 20,926 14.544825 304,365 (6)%
Fidelity VIP II -
Asset Manager Portfolio:
Tax and non-tax qualified ................ 1.30% 63,717 14.327334 912,895 (1)%
1.40% 1,196,405 14.277457 17,081,621 (1)%
1.45% 56,928 12.495048 711,318 (1)%
1.50% 16,109 12.478214 201,012 (1)%
Fidelity VIP II -
Asset Manager: Growth Portfolio:
Tax and non-tax qualified ................ 1.30% 56,720 15.472307 877,589 (2)%
1.40% 922,559 15.418459 14,224,438 (2)%
1.45% 20,909 13.205720 276,118 (2)%
1.50% 9,559 13.187925 126,063 (2)%
Fidelity VIP II - Contrafund Portfolio:
Tax and non-tax qualified ................ 1.30% 659,696 18.116482 11,951,371 (2)%
1.40% 7,033,401 18.053403 126,976,823 (2)%
1.45% 263,929 15.293849 4,036,490 (2)%
1.50% 43,214 15.273267 660,019 (2)%
</TABLE>
22
<PAGE> 23
<TABLE>
<CAPTION>
ASSET PERIOD
CHARGE UNITS UNIT VALUE AMOUNT RETURN*
------- ---------- ---------- ------------ --------
<S> <C> <C> <C> <C> <C>
Fidelity VIP-II - Index 500 Portfolio:
Tax and non-tax qualified ................ 0.95% 3,643,195 14.414298 52,514,098 (1)%
1.00% 2,101,626 14.396924 30,256,950 (1)%
1.05% 411,539 14.379590 5,917,762 (1)%
1.10% 46,762 10.716334 501,117 (1)%
1.15% 20,791 10.710034 222,672 (1)%
1.20% 31,162 10.703750 333,550 (1)%
1.25% 3,214 10.697480 34,382 (1)%
1.30% 493,555 18.610026 9,185,071 (1)%
1.35% 721 10.684904 7,704 (1)%
1.40% 4,723,833 18.545254 87,604,683 (1)%
1.45% 326,755 15.314740 5,004,168 (1)%
1.50% 75,928 15.294135 1,161,253 (1)%
1.55% 5,138 10.659779 54,770 (1)%
1.60% 7,967 10.653500 84,876 (1)%
1.65% 1,625 10.647231 17,302 (1)%
1.70% 82 10.640941 873 (1)%
1.75% 3,446 10.634682 36,647 (1)%
1.80% 262 10.628400 2,785 (1)%
1.85% 253 10.622113 2,687 (2)%
Fidelity VIP-II -
Investment Grade Bond Portfolio:
Tax and non-tax qualified ................ 0.95% 1,172,784 10.824651 12,694,977 3%
1.00% 755,921 10.811592 8,172,709 3%
1.05% 353,832 10.798568 3,820,879 3%
1.10% 52,056 10.130859 527,372 3%
1.15% 11,600 10.124921 117,449 3%
1.20% 1,208 10.118978 12,224 3%
1.25% 6,312 10.113042 63,834 3%
1.30% 234,041 11.717942 2,742,479 3%
1.40% 2,973,300 11.674542 34,711,916 3%
1.45% 62,002 10.936979 678,115 3%
1.50% 21,150 10.922252 231,006 3%
1.55% 952 10.077384 9,594 3%
1.70% 35 10.059584 352 3%
1.80% 107 10.047705 1,075 3%
Fidelity VIP III - Balanced Portfolio:
Tax and non-tax qualified ................ 1.30% 725,851 17.511827 12,710,977 (1)%
1.40% 6,606,379 17.414740 115,048,373 (1)%
1.45% 86,933 12.174773 1,058,390 (1)%
1.50% 24,165 12.158379 293,807 (1)%
Fidelity VIP Fund III -
Growth and Income Portfolio:
Tax and non-tax qualified ................ 1.30% 282,480 16.550260 4,675,117 (3)%
1.40% 3,603,843 16.492630 59,436,849 (3)%
1.45% 154,837 13.876008 2,148,519 (3)%
1.50% 39,742 13.857326 550,718 (3)%
Fidelity VIP III -
Growth Opportunities Portfolio:
Tax and non-tax qualified ................ 1.30% 2,298,918 23.733020 54,560,267 (4)%
1.40% 20,421,593 23.601408 481,978,348 (4)%
1.45% 382,189 12.544540 4,794,385 (4)%
1.50% 161,660 12.527641 2,025,218 (4)%
</TABLE>
(Continued)
23
<PAGE> 24
NATIONWIDE FIDELITY ADVISOR VARIABLE ACCOUNT
NOTES TO FINANCIAL STATEMENTS, CONTINUED
<TABLE>
<CAPTION>
CONTRACT OWNER'S EQUITY ASSET PERIOD
(Continued) CHARGE UNITS UNIT VALUE AMOUNT RETURN*
------- ---------- ---------- ------------ --------
<S> <C> <C> <C> <C> <C>
Fidelity VIP Fund III -
Mid Cap Portfolio:
Tax and non-tax qualified ................ 1.30% 108,936 17.958421 1,956,319 23%
Fidelity VIP - Equity-Income Portfolio:
Service Class:
Tax and non-tax qualified ................ 0.95% 1,912,943 10.958239 20,962,487 (3)%
1.00% 1,496,237 10.945046 16,376,383 (3)%
1.05% 391,872 10.931880 4,283,898 (3)%
1.10% 36,548 9.039747 330,385 (3)%
1.15% 6,003 9.034438 54,234 (3)%
1.20% 4,442 9.029142 40,107 (3)%
1.25% 1,741 9.023847 15,711 (3)%
1.30% 706 9.018536 6,367 (3)%
1.40% 11,719 9.007929 105,564 (3)%
1.45% 41,383 9.002627 372,556 (3)%
1.50% 899 8.997324 8,089 (3)%
Fidelity VIP - Growth Portfolio:
Service Class:
Tax and non-tax qualified ................ 0.95% 3,138,834 18.863256 59,208,629 5%
1.00% 2,947,905 18.840552 55,540,157 5%
1.05% 552,273 18.817857 10,392,594 5%
1.10% 67,297 12.927249 869,965 4%
1.15% 73,269 12.919667 946,611 4%
1.20% 17,043 12.912090 220,061 4%
1.25% 12,219 12.904511 157,680 4%
1.30% 2,904 12.896935 37,453 4%
1.35% 397 12.889357 5,117 4%
1.40% 44,025 12.881782 567,120 4%
1.45% 134,673 12.874202 1,733,807 4%
1.50% 5,226 12.866639 67,241 4%
1.55% 2,741 12.859065 35,247 4%
1.60% 15,394 12.851482 197,836 4%
1.65% 2,508 12.843917 32,213 4%
1.70% 1,158 12.836343 14,864 4%
1.75% 2,472 12.828774 31,713 4%
Fidelity VIP - High Income Portfolio:
Service Class:
Tax and non-tax qualified ................ 0.95% 2,438,127 9.335271 22,760,576 (5)%
1.00% 1,482,997 9.324015 13,827,486 (5)%
1.05% 377,997 9.312786 3,520,205 (5)%
1.10% 24,326 9.180249 223,319 (5)%
1.15% 11,886 9.174859 109,052 (5)%
1.20% 4,160 9.169466 38,145 (6)%
1.25% 3,176 9.164090 29,105 (6)%
1.40% 22,031 9.147926 201,538 (6)%
1.45% 43,984 9.142555 402,126 (6)%
1.50% 970 9.137164 8,863 (6)%
Fidelity VIP - Overseas Portfolio:
Service Class:
Tax and non-tax qualified ................ 0.95% 1,035,367 14.118645 14,617,979 (5)%
1.00% 800,084 14.101657 11,282,510 (6)%
1.05% 173,944 14.084666 2,449,943 (6)%
</TABLE>
24
<PAGE> 25
<TABLE>
<CAPTION>
ASSET PERIOD
CHARGE UNITS UNIT VALUE AMOUNT RETURN*
------- ---------- ---------- ------------ --------
<S> <C> <C> <C> <C> <C>
1.10% 20,694 12.382327 256,240 (6)%
1.15% 4,555 12.375048 56,368 (6)%
1.20% 4,977 12.367813 61,555 (6)%
1.25% 4,118 12.360542 50,901 (6)%
1.30% 280 12.353286 3,459 (6)%
1.40% 19,918 12.338777 245,764 (6)%
1.45% 59,457 12.331528 733,196 (6)%
1.50% 1,080 12.324264 13,310 (6)%
1.55% 2,229 12.317017 27,455 (6)%
1.60% 14,208 12.309770 174,897 (6)%
1.75% 2,545 12.288006 31,273 (6)%
Fidelity VIP Fund II - Asset Manager
Portfolio: Service Class:
Tax and non-tax qualified ................ 0.95% 450,012 12.055970 5,425,331 (1)%
1.00% 410,953 12.041440 4,948,466 (1)%
1.05% 123,186 12.026924 1,481,549 (1)%
1.15% 4,745 10.457122 49,619 (1)%
1.20% 592 10.450983 6,187 (1)%
1.25% 2,846 10.444846 29,726 (1)%
1.40% 1,775 10.426438 18,507 (1)%
1.45% 20,843 10.420314 217,191 (1)%
1.50% 468 10.414179 4,874 (1)%
Fidelity VIP II - Asset Manager:
Growth Portfolio: Service Class:
Tax and non-tax qualified ................ 0.95% 304,500 12.634938 3,847,339 (2)%
1.00% 344,998 12.619747 4,353,787 (2)%
1.05% 99,614 12.604529 1,255,588 (2)%
1.10% 5,439 10.646796 57,908 (2)%
1.20% 2,260 10.634314 24,034 (2)%
1.25% 390 10.628065 4,145 (2)%
1.30% 1,409 10.621828 14,966 (2)%
1.40% 5,454 10.609335 57,863 (2)%
1.50% 457 10.596854 4,843 (2)%
1.65% 680 10.578142 7,193 (2)%
Fidelity VIP II - Contrafund Portfolio:
Service Class:
Tax and non-tax qualified ................ 0.95% 2,096,481 15.138411 31,737,391 (2)%
1.00% 1,962,693 15.120188 29,676,287 (2)%
1.05% 414,989 15.101952 6,267,144 (2)%
1.10% 32,837 11.109227 364,794 (2)%
1.15% 56,226 11.102710 624,261 (2)%
1.20% 10,979 11.096181 121,825 (2)%
1.25% 6,645 11.089687 73,691 (2)%
1.30% 2,135 11.083160 23,663 (2)%
1.35% 332 11.076650 3,677 (2)%
1.40% 25,482 11.070132 282,089 (2)%
1.45% 101,297 11.063616 1,120,711 (2)%
1.50% 5,061 11.057108 55,960 (2)%
1.55% 3,410 11.050589 37,683 (2)%
1.60% 11,896 11.044088 131,380 (2)%
1.65% 2,254 11.037577 24,879 (2)%
1.85% 253 11.011537 2,786 (2)%
</TABLE>
(Continued)
25
<PAGE> 26
NATIONWIDE FIDELITY ADVISOR VARIABLE ACCOUNT
NOTES TO FINANCIAL STATEMENTS, CONTINUED
<TABLE>
<CAPTION>
CONTACT OWNERS' EQUITY ASSET PERIOD
(Continued) CHARGE UNITS UNIT VALUE AMOUNT RETURN*
------- ---------- ---------- ------------ --------
<S> <C> <C> <C> <C> <C>
Fidelity VIP III - Balanced Portfolio:
Service Class:
Tax and non-tax qualified ................ 0.95% 1,108,752 11.659794 12,927,820 (1)%
1.00% 1,000,026 11.645744 11,646,047 (1)%
1.05% 192,451 11.631711 2,238,534 (1)%
1.10% 28,058 9.707181 272,364 (1)%
1.15% 10,689 9.701482 103,699 (1)%
1.20% 651 9.695788 6,312 (1)%
1.25% 1,506 9.690092 14,593 (1)%
1.40% 14,202 9.673013 137,376 (1)%
1.45% 6,097 9.667325 58,942 (1)%
1.50% 2,529 9.661640 24,434 (1)%
Fidelity VIP Fund III - Growth and
Income Portfolio: Service Class:
Tax and non-tax qualified ................ 0.95% 2,080,236 13.017658 27,079,801 (3)%
1.00% 2,337,510 13.001962 30,392,216 (3)%
1.05% 469,148 12.986306 6,092,499 (3)%
1.10% 44,686 9.775941 436,848 (3)%
1.15% 47,501 9.770212 464,095 (3)%
1.20% 13,008 9.764484 127,016 (3)%
1.25% 5,715 9.758746 55,771 (3)%
1.30% 817 9.753002 7,968 (3)%
1.40% 38,627 9.741542 376,287 (3)%
1.45% 72,268 9.735803 703,587 (3)%
1.50% 974 9.730074 9,477 (3)%
Fidelity VIP III - Growth Opportunities
Portfolio: Service Class:
Tax and non-tax qualified ................ 0.95% 4,242,797 11.805110 50,086,685 (4)%
1.00% 3,756,922 11.790881 44,297,420 (4)%
1.05% 718,646 11.776671 8,463,258 (4)%
1.10% 87,969 9.490602 834,879 (4)%
1.15% 62,706 9.485029 594,768 (4)%
1.20% 15,732 9.479472 149,131 (4)%
1.25% 8,206 9.473891 77,743 (4)%
1.30% 1,500 9.468320 14,202 (4)%
1.40% 75,626 9.457181 715,209 (4)%
1.45% 75,897 9.451625 717,350 (4)%
1.50% 2,212 9.446049 20,895 (4)%
1.55% 1,399 9.440496 13,207 (4)%
1.60% 3,273 9.434930 30,881 (4)%
1.65% 679 9.429348 6,403 (4)%
1.70% 1,555 9.423798 14,654 (5)%
Fidelity VIP III - Mid Cap Portfolio:
Service Class:
Tax and non-tax qualified ................ 0.95% 433,828 18.023211 7,818,974 23%
1.00% 545,070 18.009881 9,816,646 23%
1.05% 112,948 17.996543 2,032,674 23%
1.10% 9,119 16.605793 151,428 23%
1.15% 2,444 16.596054 40,561 23%
1.20% 1,443 16.586326 23,934 23%
1.25% 3,597 16.576596 59,626 23%
1.30% 183 16.566861 3,032 23%
</TABLE>
26
<PAGE> 27
<TABLE>
<CAPTION>
ASSET PERIOD
CHARGE UNITS UNIT VALUE AMOUNT RETURN*
------- ---------- ---------- ------------ --------
<S> <C> <C> <C> <C> <C>
1.40% 6,728 16.547400 111,331 23%
1.45% 43,778 16.537686 723,987 23%
1.50% 1,416 16.527955 23,404 23%
1.55% 3,356 16.518237 55,435 23%
1.60% 3,355 16.508491 55,386 23%
1.70% 938 16.489053 15,467 23%
1.75% 1,996 16.479331 32,893 23%
Fidelity VIP - Equity-Income Portfolio:
Service Class 2:
Tax and non-tax qualified ................ 0.95% 25,523 9.820992 250,661 (2)%
1.00% 24,621 9.820183 241,783 (2)%
1.10% 9,451 9.818557 92,795 (2)%
1.25% 306 9.816113 3,004 (2)%
1.40% 9,329 9.813677 91,552 (2)%
1.45% 9,644 9.812861 94,635 (2)%
1.50% 9,083 9.812046 89,123 (2)%
1.55% 10,114 9.811233 99,231 (2)%
1.60% 519 9.810414 5,092 (2)%
1.70% 35 9.808787 343 (2)%
1.80% 104 9.807149 1,020 (2)%
1.90% 207 9.805513 2,030 (2)%
Fidelity VIP - Growth Portfolio:
Service Class 2:
Tax and non-tax qualified ................ 0.95% 123,501 10.072674 1,243,985 1%
1.00% 131,266 10.071839 1,322,090 1%
1.05% 7,963 10.071009 80,195 1%
1.10% 35,298 10.070176 355,457 1%
1.15% 22,799 10.069339 229,571 1%
1.20% 3,602 10.068507 36,267 1%
1.25% 3,236 10.067677 32,579 1%
1.30% 1,062 10.066842 10,691 1%
1.35% 268 10.066010 2,698 1%
1.40% 44,075 10.065170 443,622 1%
1.45% 157,370 10.064338 1,583,825 1%
1.50% 10,284 10.063503 103,493 1%
1.55% 29,405 10.062667 295,893 1%
1.60% 30,262 10.061828 304,491 1%
1.65% 390 10.060994 3,924 1%
1.70% 1,417 10.060161 14,255 1%
1.75% 630 10.059321 6,337 1%
1.80% 415 10.058487 4,174 1%
1.90% 4,044 10.056808 40,670 1%
1.95% 4,816 10.055969 48,430 1%
Fidelity VIP - High Income Portfolio:
Service Class 2:
Tax and non-tax qualified ................ 0.95% 26,114 9.944587 259,693 (1)%
1.00% 21,848 9.943765 217,251 (1)%
1.05% 805 9.942942 8,004 (1)%
1.10% 10,524 9.942114 104,631 (1)%
1.15% 4,312 9.941292 42,867 (1)%
1.20% 140 9.940466 1,392 (1)%
1.25% 647 9.939642 6,431 (1)%
1.35% 138 9.937992 1,371 (1)%
1.40% 4,282 9.937167 42,551 (1)%
</TABLE>
(Continued)
27
<PAGE> 28
NATIONWIDE FIDELITY ADVISOR VARIABLE ACCOUNT
NOTES TO FINANCIAL STATEMENTS, CONTINUED
<TABLE>
<CAPTION>
CONTRACT OWNERS' EQUITY ASSET PERIOD
(Continued) CHARGE UNITS UNIT VALUE AMOUNT RETURN*
------- ---------- ---------- ------------ --------
<S> <C> <C> <C> <C> <C>
1.45% 15,553 9.936341 154,540 (1)%
1.55% 6,748 9.934685 67,039 (1)%
1.80% 108 9.930545 1,072 (1)%
Fidelity VIP - Overseas Portfolio:
Service Class 2:
Tax and non-tax qualified ................ 0.95% 32,029 9.920756 317,752 (1)%
1.00% 31,532 9.919936 312,795 (1)%
1.05% 4,120 9.919116 40,867 (1)%
1.10% 10,679 9.918293 105,917 (1)%
1.15% 666 9.917473 6,605 (1)%
1.20% 450 9.916652 4,462 (1)%
1.25% 447 9.915828 4,432 (1)%
1.30% 246 9.915004 2,439 (1)%
1.35% 56 9.914186 555 (1)%
1.40% 17,424 9.913359 172,730 (1)%
1.45% 66,687 9.912534 661,037 (1)%
1.55% 10,763 9.910890 106,671 (1)%
1.60% 2,479 9.910067 24,567 (1)%
1.70% 69 9.908413 684 (1)%
1.75% 632 9.907587 6,262 (1)%
1.80% 313 9.906762 3,101 (1)%
1.90% 2,414 9.905106 23,911 (1)%
Fidelity VIP II - Asset Manager
Portfolio: Service Class 2:
Tax and non-tax qualified ................ 0.95% 19,802 9.864448 195,336 (1)%
1.00% 2,912 9.863631 28,723 (1)%
1.15% 367 9.861182 3,619 (1)%
1.20% 1,157 9.860362 11,408 (1)%
1.30% 706 9.858728 6,960 (1)%
1.40% 3,926 9.857092 38,699 (1)%
1.45% 25,214 9.856275 248,516 (1)%
1.55% 1,856 9.854639 18,290 (1)%
1.95% 2,058 9.848068 20,267 (2)%
Fidelity VIP II - Asset Manager:
Growth Portfolio: Service Class 2:
Tax and non-tax qualified ................ 0.95% 23,213 9.898579 229,776 (1)%
1.00% 7,045 9.897761 69,730 (1)%
1.05% 1,742 9.896941 17,240 (1)%
1.10% 204 9.896122 2,019 (1)%
1.20% 2,991 9.894485 29,594 (1)%
1.40% 5,134 9.891204 50,781 (1)%
1.45% 3,674 9.890383 36,337 (1)%
1.50% 9,913 9.889560 98,035 (1)%
1.55% 1,529 9.888735 15,120 (1)%
Fidelity VIP II - Contrafund Portfolio:
Service Class 2:
Tax and non-tax qualified ................ 0.95% 56,134 9.838890 552,296 (2)%
1.00% 81,905 9.838080 805,788 (2)%
1.05% 3,571 9.837265 35,129 (2)%
1.10% 8,235 9.836447 81,003 (2)%
1.15% 7,663 9.835635 75,370 (2)%
1.20% 4,346 9.834822 42,742 (2)%
1.25% 2,176 9.834010 21,399 (2)%
</TABLE>
28
<PAGE> 29
<TABLE>
<CAPTION>
ASSET PERIOD
CHARGE UNITS UNIT VALUE AMOUNT RETURN*
------- ---------- ---------- ------------ --------
<S> <C> <C> <C> <C> <C>
1.30% 244 9.833189 2,399 (2)%
1.35% 209 9.832377 2,055 (2)%
1.40% 35,377 9.831562 347,811 (2)%
1.45% 79,317 9.830745 779,745 (2)%
1.50% 9,974 9.829927 98,044 (2)%
1.55% 9,609 9.829115 94,448 (2)%
1.60% 4,730 9.828294 46,488 (2)%
1.65% 399 9.827476 3,921 (2)%
1.70% 388 9.826659 3,813 (2)%
1.80% 214 9.825021 2,103 (2)%
1.90% 155 9.823382 1,523 (2)%
Fidelity VIP III - Balanced Portfolio:
Service Class 2:
Tax and non-tax qualified ................ 0.95% 15,380 10.091898 155,213 1%
1.00% 13,002 10.091065 131,204 1%
1.05% 1,827 10.090227 18,435 1%
1.10% 4,295 10.089391 43,334 1%
1.15% 1,307 10.088564 13,186 1%
1.20% 1,361 10.087726 13,729 1%
1.35% 56 10.085220 565 1%
1.40% 5,303 10.084383 53,477 1%
1.45% 9,439 10.083548 95,179 1%
1.55% 4,364 10.081870 43,997 1%
1.60% 166 10.081032 1,673 1%
1.90% 3,641 10.075997 36,687 1%
Fidelity VIP III - Growth and
Income Portfolio: Service Class 2:
Tax and non-tax qualified ................ 0.95% 20,879 10.023454 209,280 0%
1.00% 78,986 10.022630 791,647 0%
1.05% 2,805 10.021798 28,111 0%
1.10% 9,461 10.020971 94,808 0%
1.15% 5,645 10.020139 56,564 0%
1.20% 2,905 10.019314 29,106 0%
1.25% 1,875 10.018485 18,785 0%
1.30% 693 10.017655 6,942 0%
1.35% 327 10.016826 3,276 0%
1.40% 19,347 10.015993 193,779 0%
1.45% 64,546 10.015164 646,439 0%
1.55% 7,929 10.013502 79,397 0%
1.60% 208 10.012672 2,083 0%
1.70% 135 10.011008 1,351 0%
1.90% 5,370 10.007668 53,741 0%
Fidelity VIP III - Growth Opportunities
Portfolio: Service Class 2:
Tax and non-tax qualified ................ 0.95% 76,291 9.945724 758,769 (1)%
1.00% 86,978 9.944903 864,988 (1)%
1.05% 2,560 9.944079 25,457 (1)%
1.10% 23,728 9.943260 235,934 (1)%
1.15% 8,374 9.942439 83,258 (1)%
1.20% 523 9.941611 5,199 (1)%
1.25% 1,332 9.940795 13,241 (1)%
1.40% 22,436 9.938318 222,976 (1)%
1.45% 34,380 9.937498 341,651 (1)%
1.55% 8,931 9.935846 88,737 (1)%
1.70% 321 9.933371 3,189 (1)%
</TABLE>
(Continued)
29
<PAGE> 30
NATIONWIDE FIDELITY ADVISOR VARIABLE ACCOUNT
NOTES TO FINANCIAL STATEMENTS, CONTINUED
<TABLE>
<CAPTION>
CONTRACT OWNERS' EQUITY ASSET PERIOD
(Continued) CHARGE UNITS UNIT VALUE AMOUNT RETURN*
------- ---------- ---------- ------------ --------
<S> <C> <C> <C> <C> <C>
Fidelity VIP III - Mid Cap Portfolio:
Service Class 2:
Tax and non-tax qualified ................ 0.95% 38,626 10.411291 402,147 4%
1.00% 45,310 10.410433 471,697 4%
1.05% 1,767 10.409574 18,394 4%
1.10% 6,275 10.408714 65,315 4%
1.15% 5,632 10.407857 58,617 4%
1.20% 350 10.406994 3,642 4%
1.25% 506 10.406133 5,266 4%
1.30% 347 10.405275 3,611 4%
1.35% 140 10.404414 1,457 4%
1.40% 11,151 10.403548 116,010 4%
1.45% 54,925 10.402690 571,368 4%
1.55% 14,935 10.400959 155,338 4%
1.60% 2,969 10.400103 30,878 4%
1.70% 17 10.398372 177 4%
1.75% 618 10.397506 6,426 4%
1.80% 200 10.396640 2,079 4%
1.90% 244 10.394913 2,536 4%
========= =========
Reserves for annuity contracts in payout phase:
Tax qualified ....................................................................... 97,402
Non-tax qualified ................................................................... 358,906
---------------
Total Contract Owners' Equity ..................................................... $ 2,295,396,163
===============
</TABLE>
* The period return does not include contract charges satisfied by surrendering
units.
30
<PAGE> 31
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31
<PAGE> 32
[FIDELITY INVESTMENTS - LOGO]
Nationwide Life Insurance Company. Home Office: Columbus, Ohio
Before investing, understand that variable annuities are not insured by the FDIC
or any other government agency, are not bank deposits, and are not the
obligation of, or guaranteed by, the financial institution where they are
offered.
Variable annuities involve investment risk, including the possible loss of
principal.
Nationwide(R) is a registered federal service mark of Nationwide Mutual
Insurance Company.
APO 2929-K (06/00)
