Exhibit 77Q1 - Additional Items |
|
|
|
|
|
Because the electronic format for filing Form N-SAR does not provide adequate space for |
||
responding to Item 15, the registrant has included the complete list of foreign sub-custodians below. |
||
|
|
|
Item 15 |
|
|
|
|
|
Brown Brothers Harriman & Co. |
|
|
Global Subcustodian Network |
|
|
January 2011 |
|
|
|
|
|
Market |
Subcustodian |
City / Country |
Australia |
HSBC Bank Australia Limited |
Sydney / Australia |
Austria |
Unicredit Bank Austria AG |
Vienna / Austria |
Bahrain |
HSBC Bank Middle East Limited, Bahrain Branch |
Manama / Bahrain |
Bangladesh |
Standard Chartered Bank, Bangladesh Branch |
Dhaka / Bangladesh |
Belgium |
BNP Paribas Securities Services, Paris Branch |
Brussels / Belgium |
Bermuda |
Bank of Bermuda HSBC |
Hamilton / Bermuda |
Botswana |
Stanbic Bank Botswa N/A Ltd |
Gaborone / Botswana |
Brazil |
Citibank N.A., São Paulo |
Sao Paulo / Brazil |
Bulgaria |
ING Bank, N.V., Sofia Branch |
Sofia / Bulgaria |
Canada |
RBC Dexia Investor Services Trust (RBC Dexia) |
Toronto / Canada |
Chile |
Banco de Chile |
Santiago / Chile |
China |
Standard Chartered Bank (China) Limited |
Shanghai / China |
Colombia |
Cititrust Colombia, S.A. Sociedad Fiduciaria |
Bogota / Colombia |
Cyprus |
BNP Paribas Securities Services, Athens Branch |
Athens / Greece |
Czech Republic |
Citibank Europe plc |
Praha / Czech Republic |
Denmark |
Danske Bank A/S |
Copenhagen / Denmark |
Egypt |
Citibank, N.A., Cairo Branch |
Cairo / Egypt |
Estonia |
Swedbank AS |
Tallinn / Finland |
Finland |
Nordea Bank Finland Plc |
Helsinki / Finland |
France |
BNP Paribas Securities Services S.A., Paris Branch |
Paris / France |
Germany |
Deutsche Bank AG, Frankfurt |
Frankfurt / Germany |
Ghana |
Barclays Bank of Ghana Ltd. |
Accra / Ghana |
Greece |
HSBC Bank Plc, Athens Branch |
Athens / Greece |
Hong Kong |
Hongkong & Shanghai Banking Corporation (HSBC) |
Central / Hong Kong |
Hungary |
UniCredit Bank Hungary ZRT |
Budapest / Hungary |
India |
Citibank, N.A., Mumbai Branch |
Mumbai / India |
|
Hongkong & Shanghai Banking Corporation (HSBC), India Branch |
Mumbai / India |
Indonesia |
Citibank, N.A., Jakarta Branch |
Jakarta / Indonesia |
Ireland |
Citibank N.A., London Branch |
London / UK |
Israel |
Bank Hapoalim BM |
Tel Aviv / Israel |
Italy |
BNP Paribas Securities Services, Milan Branch |
Milan / Italy |
Japan |
Bank of Tokyo-Mitsubishi UFJ Ltd |
Tokyo / Japan |
Jordan |
HSBC Bank Middle East Limited, Jordan Branch |
Western Amman / Jordan |
Kenya |
CfC Stanbic Bank Ltd |
Nairobi / Kenya |
Lebanon |
HSBC Bank Middle East Limited, Lebanon Branch |
Beirut / Lebanon |
Luxembourg |
Kredietbank Luxembourg |
Luxembourg |
Malaysia |
Standard Chartered Bank Malaysia Berhad |
Kuala Lumpur / Malaysia |
Mauritius |
Hongkong & Shanghai Banking Corporation (HSBC), Mauritius Branch |
Port Louis / Mauritius |
Mexico |
Banco Nacional de Mexico, S.A. (Banamex) |
Mexico City / Mexico |
Morocco |
Citibank Maghreb |
Casablanca / Morocco |
Namibia |
Standard Bank Namibia Limited |
Windhoek / Namibia |
Netherlands |
BNP Paribas Securities Services, Paris Branch |
Amsterdam / Netherlands |
New Zealand |
Hongkong & Shanghai Banking Corporation (HSBC), New Zealand Branch |
Auckland / New Zealand |
Norway |
DNB Bank Nor ASA |
Oslo / Norway |
Oman |
HSBC Bank Middle East Limited, Oman Branch |
Ruwi / Oman |
Pakistan |
Standard Chartered Bank (Pakistan) Limited |
Karachi / Pakistan |
Peru |
Citibank del Peru S.A. |
Lima / Peru |
Philippines |
Hongkong & Shanghai Banking Corporation (HSBC), Philippine Branch |
Manila / Philippines |
Poland |
Bank Handlowy w Warszawie SA |
Warsaw / Poland |
|
Bank Polska Kasa Opieki SA |
Warsaw / Poland |
Portugal |
BNP Paribas Securities Services S.A., Paris Branch |
Paris / France |
Romania |
ING Bank N.V., Bucharest Branch |
Bucharest / Romania |
Russia |
ZAO Citibank |
Moscow / Russia |
Singapore |
Standard Chartered Bank, Singapore branch |
Singapore |
Slovakia |
ING Bank NV, Bratislava Branch |
Bratislava / Slovakia |
Slovenia |
UniCredit Banka Slovenija d.d. |
Ljubljana / Slovenia |
South Africa |
Standard Bank of South Africa Limited |
Johannesburg / South Africa |
South Korea |
Citibank Korea Inc. |
Seoul / South Korea |
Spain |
Société Générale Sucursal en España S.A. |
Madrid / Spain |
Sri Lanka |
Hongkong & Shanghai Banking Corporation (HSBC), Sri Lanka Branch |
Colombo / Sri Lanka |
Swaziland |
Standard Bank Swaziland |
Mbabane / Swaziland |
Sweden |
Skandinaviska Enskilda Banken AB (publ) |
Stockholm / Sweden |
Switzerland |
UBS AG |
Zurich / Switzerland |
Taiwan |
Standard Chartered Bank (Taiwan) Ltd. |
Taipei / Taiwan |
Thailand |
Hongkong & Shanghai Banking Corporation (HSBC), Thailand Branch |
Bangkok / Thailand |
Transnational |
Brown Brothers Harriman & Co. |
Boston, MA / New York, NY |
Turkey |
Citibank Anonim Sirkiti |
Istanbul / Turkey |
United Arab Emirates |
HSBC Bank Middle East Limited (DIFC) branch |
Dubai / UAE |
United Kingdom |
HSBC Bank Plc |
London / UK |
Uruguay |
Banco Itaú Uruguay S.A. |
Montevideo / Uruguay |
Venezuela |
Citibank, N.A., Caracas Branch |
Caracas / Venezuela |
Zambia |
Stanbic Bank Zambia Ltd. |
Lusaka / Zambia |
Zimbabwe |
Stanbic Bank Zimbabwe Limited |
Harare / Zimbabwe |
REPORT OF INDEPENDENT REGISTERED ACCOUNTING FIRM
ON INTERNAL CONTROL REQUIRED BY FORM N-SAR
____
To the Board of Trustees and Shareholders of Fidelity Select Portfolios:
In planning and performing our audits of the financial statements Fidelity Select Portfolios: Automotive Portfolio, Construction and Housing Portfolio, Consumer Discretionary Portfolio, Leisure Portfolio, Multimedia Portfolio, Retailing Portfolio, Consumer Staples Portfolio, Energy Portfolio, Energy Service Portfolio, Natural Gas Portfolio, Natural Resources Portfolio, Banking Portfolio, Brokerage and Investment Management Portfolio, Financial Services Portfolio, Consumer Finance Portfolio (f/k/a Home Finance Portfolio), Insurance Portfolio, Biotechnology Portfolio, Health Care Portfolio, Medical Delivery Portfolio, Medical Equipment and Systems Portfolio, Pharmaceuticals Portfolio, Air Transportation Portfolio, Defense and Aerospace Portfolio, Environment and Alternative Energy Portfolio (f/k/a Environmental Portfolio), Industrial Equipment Portfolio, Industrials Portfolio, Transportation Portfolio, Chemicals Portfolio, Gold Portfolio, Materials Portfolio, Communications Equipment Portfolio, Computers Portfolio, Electronics Portfolio, IT Services Portfolio, Software and Computer Services Portfolio, Technology Portfolio, Telecommunications Portfolio, Wireless Portfolio, and Utilities Portfolio (collectively, the "Trust") as of and for the year ended February 28, 2011, in accordance with the standards of the Public Company Accounting Oversight Board (United States), we considered the Trust's internal control over financial reporting, including control activities for safeguarding securities, as a basis for designing our auditing procedures for the purpose of expressing our opinion on the financial statements and to comply with the requirements of Form N-SAR, but not for the purpose of expressing an opinion on the effectiveness of the Trust's internal control over financial reporting. Accordingly, we do not express an opinion on the effectiveness of the Trust's internal control over financial reporting.
The management of the Trust is responsible for establishing and maintaining effective internal control over financial reporting. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of controls. A company's internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A company's internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the Trust are being made only in accordance with authorizations of management and trustees of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of a Trust's assets that could have a material effect on the financial statements.
Because of inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.
A deficiency in internal control over financial reporting exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent or detect misstatements on a timely basis. material weakness is a deficiency, or a combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of the Trust's annual or interim financial statements will not be prevented or detected on a timely basis.
Our consideration of the Trust's internal control over financial reporting was for the limited purpose described in the first paragraph and would not necessarily disclose all deficiencies in internal control over financial reporting that might be material weaknesses under standards established by the Public Company Accounting Oversight Board (United States). However, we noted no deficiencies in the Trust's internal control over financial reporting and its operation, including controls over safeguarding securities, that we consider to be material weaknesses as defined above as of February 28, 2011.
This report is intended solely for the information and use of management and the Board of Trustees of Fidelity Select Portfolios and the Securities and Exchange Commission and is not intended to be and should not be used by anyone other than these specified parties.
PricewaterhouseCoopers LLP
April 20, 2011
A special meeting of Consumer Finance Portfolio (formerly Home Finance Portfolio) shareholders was held on November 16, 2010. The results of votes taken among shareholders on the proposals before them are reported below. Each vote reported represents one dollar of net asset value held on the record date for the meeting.
PROPOSAL 1 | ||
To modify the fund's fundamental "invests primarily" policy (the investment policy concerning the fund's primary investments). | ||
|
# of |
% of |
Affirmative |
51,097,438.76 |
87.062 |
Against |
5,276,040.00 |
8.990 |
Abstain |
2,317,235.90 |
3.948 |
TOTAL |
58,690,714.66 |
100.000 |
PROPOSAL 2 | ||
To modify the fund's fundamental concentration policy. | ||
Affirmative |
51,090,329.99 |
87.050 |
Against |
5,540,574.21 |
9.440 |
Abstain |
2,059,810.46 |
3.510 |
TOTAL |
58,690,714.66 |
100.000 |
PROPOSAL 3 | ||
To change the fund from a diversified fund to a non-diversified fund. | ||
|
# of |
% of |
Affirmative |
48,876,654.50 |
83.278 |
Against |
7,002,852.15 |
11.932 |
Abstain |
2,811,208.01 |
4.790 |
TOTAL |
58,690,714.66 |
100.000 |
The following principal investment strategies for Consumer Finance
Portfolio took effect December 1, 2010:
The fund invests primarily in
companies providing products and services associated with consumer finance. The
fund normally invests at least 80% of its assets in securities of companies
principally engaged in these activities.
These companies include, for example, financial institutions
providing auto loans, credit cards, mortgages, student loans, or services
related to these activities.