Semi-Annual Report and Accounts - chartbook.fid-intl.com

Fidelity
Funds
France 4.00% 25/04/2055 FR EUR 1,314,953 1,537,871 0.26
Finland 2.75% 04/07/2028 FI EUR 133,160 141,950 0.02
276,076,405 46.34
Securities Admitted to or Dealt on Other Regulated Markets
Industrials
Tyco Flow Control Int’l 3.15% 15/09/2022 144A LU USD 2,563,325 1,975,683 0.33
1,975,683 0.33
Consumer Discretionary
Time Warner Cable 4.50% 15/09/2042 US USD 1,564,627 1,229,418 0.21
1,229,418 0.21
Consumer Staples
Altria Group 4.25% 09/08/2042 US USD 2,063,976 1,606,095 0.27
Pernod-Ricard 4.45% 15/01/2022 144A FR USD 1,331,598 1,147,672 0.19
2,753,767 0.46
Healthcare
Roche Holdings 7.00% 01/03/2039 144A US USD 665,799 793,211 0.13
Watson Pharmaceuticals 4.625% 01/10/2042 US USD 699,089 578,099 0.10
1,371,310 0.23
Financials
European Union 2.75% 21/09/2021 EMTN 99 EUR 6,591,408 7,131,659 1.20
HSBC Bank 3.10% 24/05/2016 144A GB USD 4,094,663 3,312,184 0.56
BBVA 4.25% 30/03/2015 EMTN ES EUR 3,095,965 3,212,702 0.54
Intesa Sanpaolo 4.375% 15/10/2019 EMTN IT EUR 2,929,515 2,876,271 0.48
BNP Paribas 2.375% 14/09/2017 MTN FR USD 3,362,284 2,619,201 0.44
Intesa Sanpaolo 4.00% 08/11/2018 IT EUR 2,530,036 2,472,496 0.41
Eston 2006-1 A1B 0.397% FRN 19/04/2021 GB EUR 2,459,020 2,279,881 0.38
Clock Finance 2007-1 B2 0.515% FRN 25/02/2015 NL EUR 1,864,237 1,852,306 0.31
Real Estate Capital 5 B 0.848% FRN 25/07/2016 GB GBP 1,142,047 1,382,338 0.23
Clock Finance 2007-1 C2 0.695% FRN 25/02/2015 NL EUR 932,118 904,621 0.15
TS Co.mit One E 2.672% FRN 29/06/2013* DE EUR 1,309,191 589,136 0.10
Proud 1 A 0.569% FRN 18/08/2017 FR EUR 246,313 232,409 0.04
European Loan Conduit 23X D 0.755% FRN 15/02/2019* IE EUR 310,805 48,050 0.01
Bavarian Sky 2 A 0.961% FRN 15/01/2018 LU EUR 30,226 30,314 0.01
Lambda Finance 2005-1X A2 0.589% FRN 15/11/2029 NL EUR 4,582 4,588 0.00
28,948,156 4.86
Government
Spain 4.90% 30/07/2040 ES EUR 3,129,254 2,524,615 0.42
France 2.50% 12/01/2014 FR EUR 1,697,787 1,746,713 0.29
US Treasury 1.25% 31/10/2019 US USD 2,197,136 1,705,080 0.29
US Treasury 3.00% 15/05/2042 US USD 1,764,367 1,398,028 0.23
7,374,436 1.24
Open Ended Fund
Fidelity Institutional Liquidity Fund - A-ACC-EUR IE EUR 3,502 49,280,665 8.27
49,280,665 8.27
Unlisted
Financials
Nightingale Finance 2007-11 1 0.983% FRN 07/06/2015* GB USD 5,359,680 41 0.00
Links Finance 0.00% 15/09/2009 EMTN (Defaulted)* KY USD 2,996,095 23 0.00
64 0.00
Fractions (5) (0.00)
Total Investments (Cost EUR 555,341,080) 578,811,390 97.15
Credit Default Swaps
Euro Bond Fund - continued
Schedule of Investments as at 31 October 2012
Ccy Underlying Unrealised % Net
exposure gain / (loss) Assets
EUR
Bought protection on Hammerson 20/12/2016 EUR 2,829,645 12,141 0.00
12,141 0.00
Forward Foreign Exchange Contracts
Country Ccy Shares or Market % Net
Code Nominal Value Assets
EUR
Underlying Unrealised % Net
exposure gain / (loss) Assets
EUR EUR
Bought EUR Sold USD at 0.81250 20/11/2012 24,890,156 1,346,569 0.23
Bought EUR Sold USD at 0.81231 20/11/2012 24,986,637 1,345,584 0.23
223
Bought EUR Sold GBP at 1.26736 20/11/2012 22,181,741 429,800 0.07
Bought EUR Sold SEK at 0.12054 20/11/2012 5,031,648 185,096 0.03
Bought EUR Sold USD at 0.81301 20/11/2012 1,495,462 81,892 0.01
Bought EUR Sold USD at 0.81142 20/11/2012 1,031,017 54,324 0.01
Bought EUR Sold GBP at 1.26346 20/11/2012 2,262,294 36,737 0.01
Bought EUR Sold GBP at 1.27398 20/11/2012 1,341,814 33,135 0.01
Bought EUR Sold USD at 0.77525 20/11/2012 5,708,313 32,969 0.01
Bought EUR Sold USD at 0.78154 20/11/2012 2,252,431 31,362 0.01
Bought EUR Sold GBP at 1.25942 20/11/2012 2,251,533 29,234 0.00
Bought USD Sold EUR at 1.31082 20/11/2012 2,704,203 28,069 0.00
Bought USD Sold EUR at 1.30784 20/11/2012 2,761,265 22,327 0.00
Bought USD Sold EUR at 1.30708 20/11/2012 2,127,166 15,954 0.00
Bought EUR Sold USD at 0.77473 20/11/2012 2,516,728 12,818 0.00
Bought EUR Sold USD at 0.77550 20/11/2012 2,074,351 12,649 0.00
Bought USD Sold EUR at 1.30510 20/11/2012 1,831,444 10,941 0.00
Bought EUR Sold USD at 0.77234 20/11/2012 1,857,267 3,701 0.00
Bought USD Sold EUR at 1.29809 20/11/2012 2,107,528 1,207 0.00
Bought USD Sold EUR at 1.29839 20/11/2012 695,856 555 0.00
Bought USD Sold EUR at 1.29690 20/11/2012 1,479,042 (515) (0.00)
Bought EUR Sold GBP at 1.23740 20/11/2012 1,489,985 (7,036) (0.00)
Bought USD Sold EUR at 1.29165 20/11/2012 1,867,014 (8,207) (0.00)
Bought EUR Sold SEK at 0.11594 20/11/2012 5,783,530 (16,431) (0.00)
Bought GBP Sold EUR at 0.80024 20/11/2012 4,760,722 (24,224) (0.00)
Bought USD Sold EUR at 1.28865 20/11/2012 5,019,906 (33,663) (0.01)
Bought USD Sold EUR at 1.23365 20/11/2012 1,076,160 (52,841) (0.01)
Bought EUR Sold USD at 0.76047 20/11/2012 4,828,690 (64,753) (0.01)
Bought USD Sold EUR at 1.23827 20/11/2012 1,645,849 (74,946) (0.01)
Bought USD Sold EUR at 1.25663 20/11/2012 2,746,635 (86,211) (0.01)
Bought USD Sold EUR at 1.23192 20/11/2012 2,537,984 (128,002) (0.02)
Bought USD Sold EUR at 1.25544 20/11/2012 4,036,877 (130,405) (0.02)
Bought USD Sold EUR at 1.25316 20/11/2012 4,441,092 (151,261) (0.03)
2,936,428 0.49
Futures
Ccy Underlying Unrealised % Net
exposure gain / (loss) Assets
EUR
Long Gilt Future 27/12/2012 GBP (9,598,116) 146,157 0.02
Ultra Long Term US Treasury Bond Future 19/12/2012 USD (6,743,044) 24,561 0.00
US Treasury Note 10 Year Future 19/12/2012 USD (12,211,458) 20,032 0.00
Long Term US Treasury Bond Future 19/12/2012 USD (765,793) 5,760 0.00
US Treasury Note 5 Year Future 19/12/2012 USD (6,697,816) 3,750 0.00
Euro Bobl Future 06/12/2012 EUR 24,714,352 (9,154) (0.00)
Euro Bund Future 06/12/2012 EUR 11,508,306 (23,240) (0.00)
167,866 0.03
Other Assets and Liabilities 13,855,959 2.33
Net Assets 595,783,784 100.00
GEOGRAPHICAL SPLIT
Underlying Unrealised % Net
exposure gain / (loss) Assets
EUR EUR
Country Country Code % Net Assets
Germany DE 20.77
Italy IT 17.40
Spain ES 10.78
Ireland IE 9.33
France FR 9.30
USA US 5.28
UK GB 5.27
Supranational 99 4.18
Netherlands NL 3.92
Sweden SE 2.89
Switzerland CH 1.77
Luxembourg LU 1.45
Mexico MX 1.03
Belgium BE 0.69
Finland FI 0.66
Singapore SG 0.48
Czech Republic CZ 0.42
Curacao CW 0.40
Poland PL 0.39
Japan JP 0.33
Norway NO 0.31
Denmark DK 0.09
Cayman Islands KY 0.00
Cash and other net assets 2.85