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Exhibit 77Q1 - Additional Items |
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Item 15 |
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Foreign Sub-Custodian Network for BNY Mellon |
Legacy Mellon |
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Country |
Subcustodian Name Legacy Mellon |
City |
Postal Code |
Argentina |
Citibank, N.A. |
Buenos Aires |
C1036AAJ |
Australia |
National Australia Bank Ltd |
Melbourne |
3000 |
Austria |
Bank Austria, Creditanstalt |
Vienna |
1010 |
Bahrain |
HSBC Bank Middle East, Limited |
Manama |
428 |
Bangladesh |
Standard Chartered Bank |
Dhaka |
1212 |
Belgium |
Citibank International Plc |
Amsterdam |
1118 |
Benin |
Societe Generale de Banques en Cote D'ivoire |
Abidjan |
1355 |
Bermuda |
HSBC Bank Bermuda Limited |
Hamilton |
HM11 |
Botswana |
Stanbic Bank Botswana Limited |
Gaborone |
|
Brazil |
Citibank N.A. |
Sao Paulo |
S.P. 01311 |
Bulgaria |
ING Bank N.V. |
Sofia |
1404 |
Canada |
CIBC Mellon Trust Co |
Toronto |
ON M5L 1G9 |
Cayman Islands |
The Bank of New York Mellon |
New York |
10286 |
Channel Islands |
The Bank of New York Mellon |
London |
|
Chile |
Banco Itau |
Santiago |
755-0611 |
China-Shanghai |
HSBC Bank (China) Company Limited |
Shanghai |
200120 |
China- Shenzhen |
HSBC Bank (China) Company Limited |
Shenzhen |
200120 |
Colombia |
Cititrust Colombia S.A. |
Bogota |
|
Costa Rica |
Banco Nacional de Costa Rica |
San Jose |
|
Croatia |
Privredna Banka Zagreb D.D. |
Zagreb |
10000 |
Cyprus |
BNP Paribas Securities Services, Athens |
Athens |
115 28 |
Czech Republic |
ING Bank N.V. |
150 00 |
|
Denmark |
Skandinaviska Enskilda Banken AB, Copenhagen |
Copenhagen |
1092 |
Ecuador |
Banco de la Produccion S.A. |
Quito |
|
Egypt |
HSBC Bank Egypt SAE |
Cairo |
|
Estonia |
Skandinaviska Enskilda Banken AB |
Tallinn |
15010 |
Euromarkets |
Clearstream Banking Luxembourg |
Brussels |
B-1210 |
Euromarkets |
Euroclear Bank |
Brussels |
B-1210 |
Finland |
Skandinaviska Enskilda Banken AB, Helsinki |
Helsinki |
FI-00100 |
France |
BNP Paribas Securities Services |
Paris |
75008 |
Germany |
The Bank of New York Mellon SA/NV |
Frankfurt am Main |
60487 |
Ghana |
Stanbic Bank Ghana Ltd |
Accra |
|
Greece |
BNP Paribas Securities Services, Athens |
Athens |
115 28 |
Guinea Bissau |
Societe Generale de Banques en Cote D'ivoire |
Abidjan |
01 BP 1355 |
Hong Kong SAR |
HSBC |
Kowloon |
|
Hungary |
ING Bank N.V. |
Budapest |
1068 |
Iceland |
Islandsbanki hf |
Reykjavik |
155 |
India |
Deutsche Bank (DB) Mumbai |
Mumbai |
400 063 |
Indonesia |
HSBC |
Jakarta |
12930 |
Ireland |
The Bank of New York Mellon |
London |
M1 1RN |
Israel |
Bank Hapoalim B.M. |
Tel Aviv |
65546 |
Italy |
Intesa Sanpaolo S.p.A. |
Milan |
20120 |
Ivory Coast |
Société Générale de Banques en Côte d'Ivoire |
Abidjan |
01 BP 1355 |
Japan |
Mizuho Corporate Bank / The Bank of Tokyo - Mitsubishi UFJ Ltd. |
Tokyo |
103-0021 |
Jordan |
HSBC Bank Middle East Limited - Jordan Branch |
Amman |
|
Kazakhstan |
The Hongkong and Shanghai Banking Corporation Limited Bank Kazakhstan |
Almaty |
50010 |
Kenya |
CFC Stanbic Bank Limited |
Nairobi |
00-100 |
Kuwait |
HSBC Bank Middle East Limited - Kuwait Branch |
Safat |
13017 |
Latvia |
Skandinaviska Enskilda Banken AB |
Riga |
1076 |
Lebanon |
HSBC Bank Middle East Limited |
Beirut |
|
Lithuania |
Skandinaviska Enskilda Banken AB |
Vilnius |
1076 |
Luxembourg |
Euroclear |
Brussels |
B-1210 |
Malaysia |
HSBC Bank Malaysia Berhad |
Kuala Lumpur |
50100 |
Mali |
Societe Generale de Banques en Cote D'ivoire |
Abidjan |
01 BP 1355 |
Malta |
HSBC Bank Malta Plc |
Valletta |
QRM 3101 |
Mauritius |
HSBC |
Ebene |
|
Mexico |
Banco Nacional de México S.A. (Banamex S.A.) |
Mexico City |
11700 |
Morocco |
Citibank Maghreb |
Casablanca |
20190 |
Namibia |
Standard Bank Namibia Limited |
Windhoek |
|
Netherlands |
The Bank of New York Mellon SA/NV |
Brussels |
1000 |
New Zealand |
National Australia Bank Ltd |
Auckland |
|
Niger |
Societe Generale de Banques en Cote D'ivoire |
Abidjan |
01 BP 1355 |
Nigeria |
Stanbic IBTC Plc Nigeria |
Victoria Island, Lagos |
|
Norway |
DnB NOR BANK ASA |
Oslo |
00-21 |
Oman |
HSBC |
Ruwi |
111 |
Pakistan |
Deutsche Bank AG |
Karachi |
75330 |
Palestinian Autonomous Area |
HSBC Bank Middle East, Limited |
Ramallah |
West Bank |
Peru |
Citibank del Perú |
Lima |
27 |
Philippines |
The Hongkong and Shanghai Banking Corporation Ltd |
Taguig City |
1634 |
Poland |
ING Bank Slaski S.A., Katowice |
Katowice |
40-086 |
Portugal |
Citibank International Plc, Sucursal em Portugal |
Lisbon |
1269-056 |
Qatar |
HSBC |
Doha |
|
Romania |
ING Bank N.V. |
Bucharest |
11745 |
Russia |
ZAO Citibank Moscow |
Moscow |
125047 |
Saudi Arabia |
HSBC |
Riyadh |
11413 |
Senegal |
Societe Generale de Banques en Cote D'ivoire |
Abidjan |
01 BP 1355 |
Serbia |
Bank Austria, Creditanstalt |
Belgrade |
11000 |
Singapore |
DBS Bank Ltd |
Singapore |
69544 |
Slovak Republic |
ING Bank N.V. |
Bratislava |
811 02 |
Slovenia |
UniCredit Bank |
Ljubljana |
1000 |
South Africa |
Standard Bank of South Africa Limited |
Johannesburg |
2001 |
South Korea |
HSBC |
Seoul |
1-KA |
Spain |
Banco Central Hispanoamericano (BCH) |
Madrid |
28660 |
Sri Lanka |
HSBC |
Colombo |
0-1 |
Swaziland |
Standard Bank Swaziland Limited |
Mbabane |
H101 |
Sweden |
Skandinaviska Enskilda Banken AB |
Stockholm |
106 40 |
Switzerland |
UBS AG |
Zurich |
8098 |
Taiwan |
Standard Chartered Bank |
Taipei |
115 |
Thailand |
HSBC |
Bangkok |
10500 |
Tunisia |
Banque Internationale Arabe de Tunisie |
Tunis |
520 |
Turkey |
Deutsche Bank A.S. |
Istanbul |
34394 |
Ukraine |
ING Bank Ukraine |
Kiev |
4070 |
United Arab Emirates |
HSBC |
Dubai |
Gate District |
United Kingdom |
The Bank of New York Mellon |
London |
M1 1RN |
United States |
The Bank of New York Mellon |
New York |
10286 |
Uruguay |
Banco Itaú Uruguay S.A. |
Montevideo |
11000 |
Venezuela |
Citibank, N.A., Caracas |
Caracas |
1050DC |
Vietnam |
HSBC |
Ho Chi Minh City |
District 1 |
Zambia |
Stanbic Bank Zambia Plc |
Lusaka |
10101 |
Zimbabwe |
Stanbic Bank of Zimbabwe Ltd |
Harare |
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Exhibit 77Q1 - Additional Items |
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Item 15 |
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Country |
Subcustodian Name |
City |
Address |
Argentina |
HSBC Bank Argentina S.A |
Buenos Aires |
HSBC Bank Argentina S.A. |
Australia |
JPMorgan Chase Bank, N.A. |
Sydney |
JPMorgan Chase Bank, N.A.** |
Austria |
UniCredit Bank Austria AG |
Vienna |
UniCredit Bank Austria AG |
Bahrain |
HSBC Bank Middle East Limited |
Manama |
HSBC Bank Middle East Limited |
Bangladesh |
Standard Chartered Bank |
Dhaka |
Standard Chartered Bank |
Belgium |
BNP Paribas Securities Services S.C.A. |
Brussels |
BNP Paribas Securities Services S.C.A. |
Bermuda |
HSBC Bank Bermuda Limited |
Hamilton |
HSBC Bank Bermuda Limited |
Botswana |
Standard Chartered Bank Botswana Limited |
Gaborone |
Standard Chartered Bank Botswana Limited |
Brazil |
J.P. Morgan S.A. DTVM |
Sao Paulo |
J.P. Morgan S.A. DTVM** |
Bulgaria |
ING Bank N.V. |
Sofia |
ING Bank N.V. |
Canada |
Canadian Imperial Bank of Commerce |
Toronto |
Canadian Imperial Bank of Commerce |
Canada |
Royal Bank of Canada |
Toronto |
Royal Bank of Canada |
Chile |
Banco Santander Chile |
Santiago |
Banco Santander Chile |
China (Shanghai) |
HSBC Bank (China) Company Limited |
Shanghai |
HSBC Bank (China) Company Limited |
China (Shenzhen) |
HSBC Bank (China) Company Limited |
Shanghai |
HSBC Bank (China) Company Limited |
Costa Rica* |
Banco BCT, S.A. |
San Jose |
Banco BCT, S.A. |
Colombia |
CorpBanca Investment Trust Colombia S.A. |
Bogota |
CorpBanca Investment Trust Colombia S.A. |
Croatia |
Privredna banka Zagreb d.d. |
Zagreb |
Privredna banka Zagreb d.d. |
Cyprus |
HSBC Bank plc |
Athens |
HSBC Bank plc |
Czech Republic |
UniCredit Bank Czech Republic a.s. |
Prague |
UniCredit Bank Czech Republic a.s. |
Denmark |
Nordea Bank Danmark A/S |
Copenhagen |
Nordea Bank Danmark A/S |
Egypt |
Citibank, N.A. |
Cairo |
Citibank, N.A. |
Estonia |
Swedbank AS |
Tallinn |
Swedbank AS |
Finland |
Nordea Bank Finland Plc |
Helsinki |
Nordea Bank Finland Plc |
France |
BNP Paribas Securities Services S.C.A. |
Paris |
BNP Paribas Securities Services S.C.A. |
France |
Societe Generale |
Paris |
Societe Generale |
Germany |
Deutsche Bank AG |
Frankfurt |
Deutsche Bank AG |
Germany |
J.P. Morgan AG |
Frankfurt |
J.P. Morgan AG#** |
Ghana |
Standard Chartered Bank Ghana Limited |
Accra |
Standard Chartered Bank Ghana Limited |
Greece |
HSBC Bank PLC |
Athens |
HSBC Bank plc |
Hong Kong |
The Hongkong and Shanghai Banking Corporation Limited |
Hong Kong |
The Hongkong and Shanghai Banking |
Hungary |
Deutsche Bank AG |
Budapest |
Deutsche Bank AG |
Iceland* |
Islandsbanki hf. |
Reykjavik |
Islandsbanki hf. |
India |
JPMorgan Chase Bank, N.A. |
Mumbai |
JPMorgan Chase Bank, N.A.** |
Indonesia |
Deutsche Bank AG |
Jakarta |
Deutsche Bank AG |
International Securities Market |
Euroclear Bank |
|
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Ireland |
JPMorgan Chase Bank, N.A. |
London |
JP Morgan Chase Bank, N.A.** |
Israel |
Bank Leumi le-Israel B.M. |
Tel Aviv |
Bank Leumi le-Israel B.M. |
Italy |
BNP Paribas Securities Services S.C.A. |
Milan |
BNP Paribas Securities Services S.C.A. |
Japan |
Mizuho Corporate Bank, Limited |
Tokyo |
Mizuho Corporate Bank, Limited |
Japan |
The Bank of Tokyo-Mitsubishi UFJ Limited, Tokyo |
Tokyo |
The Bank of Tokyo-Mitsubishi UFJ, Limited |
Jordan |
HSBC Bank Middle East Limited |
Amman |
HSBC Bank Middle East Limited |
Kazakhstan |
SB HSBC Bank Kazakhstan JSC |
Almaty |
SB HSBC Bank Kazakhstan JSC |
Kenya |
Standard Chartered Bank Kenya Limited |
Nairobi |
Standard Chartered Bank Kenya Limited |
Kuwait |
HSBC Bank Middle East Limited |
Safat |
HSBC Bank Middle East Limited |
Latvia |
Swedbank AS |
Riga |
Swedbank AS |
Lebanon |
HSBC Bank Middle East Limited |
Ras-Beirut |
HSBC Bank Middle East Limited |
Lithuania |
AB SEB Bankas |
Vilnius |
AB SEB Bankas |
Luxembourg |
BNP Paribas Securities Services S.C.A. |
Luxembourg |
BNP Paribas Securities Services S.C.A. |
Malawi * |
Standard Bank Limited Malawi |
Blantyre |
Standard Bank Limited, Malawi |
Malaysia |
HSBC Bank Malaysia Berhad |
Kuala Lumpur |
HSBC Bank Malaysia Berhad |
Malta |
HSBC Bank Malta p.i.c. |
Valletta |
HSBC Bank Malta p.l.c. |
Mauritius |
The Hongkong and Shanghai Banking Corporation Limited |
Port Louis |
The Hongkong and Shanghai Banking |
Mexico |
Banco Nacional de Mexico, S.A. |
Mexico, D.F. |
Banco Nacional de Mexico, S.A. |
Morocco |
Societe Generale Marocaine de Banques |
Casablanca |
Societe Generale Marocaine de Banques |
Namibia |
Standard Bank Namibia Limited |
Windhoek |
Standard Bank Namibia Limited |
Netherlands |
BNP Paribas Securities Services S.C.A. |
Amsterdam |
BNP Paribas Securities Services S.C.A. |
New Zealand |
JPMorgan Chase Bank, N.A.** |
Auckland |
JPMorgan Chase Bank, N.A.** |
Nigeria |
Stanbic IBTC Bank Plc |
Lagos |
Stanbic IBTC Bank Plc |
Norway |
Nordea Bank Norge ASA |
Oslo |
Nordea Bank Norge ASA |
Oman |
HSBC Bank Middle East Limited |
Ruwi |
HSBC Bank Middle East LimitedOman S.A.O.G. |
Pakistan |
Standard Chartered Bank (Pakistan) Limited |
Karachi |
Standard Chartered Bank (Pakistan) Limited |
Palestine Territories |
HSBC Bank Middle East Limited |
Ramallah |
HSBC Bank Middle East Limited |
Peru |
Citibank del Peru S.A. |
Lima |
Citibank del Peru S.A. |
Philippines |
The Hongkong and Shanghai Banking Corporation Limited |
Manila |
The Hongkong and Shanghai Banking |
Poland |
Bank Handlowy w. Warszawie S.A. |
Warsaw |
Bank Handlowy w. Warszawie S.A. |
Portugal |
BNP Paribas Securities Services S.C.A. |
Lisbon |
BNP Paribas Securities Services S.C.A. |
Qatar |
HSBC Bank Middle East Limited |
Doha |
HSBC Bank Middle East Limited |
Romania |
ING Bank N.V. |
Bucharest |
ING Bank N.V. |
Russia* |
J.P. Morgan Bank International (Limited Liability Company) |
Moscow |
J.P. Morgan Bank International** |
Russia |
ING Bank (Eurasia) ZAO (Closed Joint Stock Company) |
Moscow |
ING Bank (Eurasia) ZAO |
Saudi Arabia |
SABB Securities Limited |
Riyadh |
HSBC Saudi Arabia Limited |
Serbia |
UniCredit Bank Srbija a.d. |
Belgrade |
UniCredit Bank Srbija a.d. |
Singapore |
DBS Bank Ltd., Singapore |
Singapore |
DBS Bank Ltd. |
Slovak Republic |
UniCredit Bank Slovakia a.s. |
Bratislava |
UniCredit Bank Slovakia a.s. |
Slovenia |
UniCredit Banka Slovenija d.d. |
Ljubljana |
UniCredit Banka Slovenija d.d. |
South Africa |
FirstRand Bank Limited |
Johannesburg |
FirstRand Bank Limited |
South Korea |
Standard Chartered Bank Korea Limited |
Seoul |
Standard Chartered Bank Korea Limited |
Spain |
Santander Investment, S.A. |
Madrid |
Santander Investment, S.A. |
Sri Lanka |
The Hongkong and Shanghai Banking Corporation Limited |
Colombo |
The Hongkong and Shanghai Banking |
Sweden |
Nordea Bank AB (publ) |
Stockholm |
Nordea Bank AB (publ) |
Switzerland |
UBS AG |
Zurich |
UBS AG |
Taiwan |
JPMorgan Chase Bank, N.A. |
Taipei |
JPMorgan Chase Bank, N.A.** |
Tanzania* |
Stanbic Bank Tanzania Limited |
Dar es Salaam |
Stanbic Bank Tanzania Limited |
Thailand |
Standard Chartered Bank (Thai) Public Company Limited |
Bangkok |
Standard Chartered Bank (Thai) Public Company
Limited |
Trinidad & Tobago |
Republic Bank Limited |
Port of Spain |
Republic Bank Limited |
Tunisia |
Banque Internationale Arabe de Tunisie, S.A. |
Tunis |
Banque Internationale Arabe de Tunisie, S.A. |
Turkey |
Citibank A.S. |
Istanbul |
Citibank A.S. |
Uganda |
Standard Chartered Bank Uganda Limited |
Kampala |
Standard Chartered Bank Uganda Limited |
Ukraine* |
ING Bank Ukraine |
Kiev |
ING Bank Ukraine |
United Arab Emirates - DFM |
HSBC Bank Middle East Limited |
Dubai |
HSBC Bank Middle East Limited |
United Arab Emirates - NASDAQ Dubai |
HSBC Bank Middle East Limited |
Dubai |
HSBC Bank Middle East Limited |
United Arab Emirates - ADX |
HSBC Bank Middle East Limited |
Dubai |
HSBC Bank Middle East Limited |
United Kingdom |
JPMorgan Chase Bank, N.A. |
London |
JPMorgan Chase Bank, N.A.** |
United Kingdom |
Deutsche Bank AG, London (The Depository and Clearing Centre) |
London |
Deutsche Bank AG |
United States |
JPMorgan Chase Bank, N.A. |
New York |
JPMorgan Chase Bank, N.A.** |
Uruguay |
Banco Itaú Uruguay S.A. |
Montevideo |
Banco Itaú Uruguay S.A. |
Venezuela |
Citibank, N.A. |
Caracas |
Citibank, N.A. |
Vietnam |
HSBC Bank (Vietnam) Ltd. |
Ho Chi Minh City |
HSBC Bank (Vietnam) Ltd. |
WAEMU - Benin, Burkina Faso, Ivory Coast, Guinea-Bissau, Mali, Niger, Senegal, Togo* |
Standard Chartered Bank Cote d'Ivoire SA |
Abidjan |
Standard Chartered Bank Cote d'Ivoire SA |
Zambia |
Standard Chartered Bank Zambia Plc |
Lusaka |
Standard Chartered Bank Zambia Plc |
Zimbabwe* |
Barclays Bank of Zimbabwe Limited |
Harare |
Stanbic Bank Zimbabwe Limited |
*Restricted Service Only |
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
ON INTERNAL CONTROL REQUIRED BY FORM N-SAR
To the Board of Trustees and Shareholders of Fidelity Charles Street Trust:
In planning and performing our audit of the financial statements of Fidelity Charles Street Trust: Fidelity Series Broad Market Opportunities Fund (collectively, the "Trust") as of and for the year ended September 30, 2012, 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 controls over 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. A 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 September 30, 2012.
This report is intended solely for the information and use of management and the Board of Trustees of Fidelity Charles Street Trust 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
November 28, 2012
Boston, MA
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
To the Trustees of Fidelity Charles Street Trust and Shareholders of Fidelity Asset Manager 20%, Fidelity Asset Manager 30%, Fidelity Asset Manager 40%, Fidelity Asset Manager 50%, Fidelity Asset Manager 60%, Fidelity Asset Manager 70%, and Fidelity Asset Manager 85%:
In planning and performing our audits of the financial statements of Fidelity Asset Manager 20%, Fidelity Asset Manager 30%, Fidelity Asset Manager 40%, Fidelity Asset Manager 50%, Fidelity Asset Manager 60%, Fidelity Asset Manager 70%, and Fidelity Asset Manager 85% (the "Funds"), each a fund of Fidelity Charles Street Trust, as of and for the year ending September 30, 2012, in accordance with the standards of the Public Company Accounting Oversight Board (United States), we considered the Funds’ internal control over financial reporting, including controls over 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 Funds’ internal control over financial reporting. Accordingly, we express no such opinion.
The management of the Funds 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 fund’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 fund'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 fund; (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 fund are being made only in accordance with authorizations of management and trustees of the fund; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of a fund's assets that could have a material effect on the financial statements.
Because of its 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. A 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 a fund's annual or interim financial statements will not be prevented or detected on a timely basis.
Our consideration of the Funds’ 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 that might be material weaknesses under standards established by the Public Company Accounting Oversight Board (United States). However, we noted no deficiencies in the Funds’ internal control over financial reporting and their operations, including controls for safeguarding securities, that we consider to be a material weakness, as defined above, as of September 30, 2012.
This report is intended solely for the information and use of management, the Trustees of Fidelity Charles Street Trust, including Fidelity Asset Manager 20%, Fidelity Asset Manager 30%, Fidelity Asset Manager 40%, Fidelity Asset Manager 50%, Fidelity Asset Manager 60%, Fidelity Asset Manager 70%, and Fidelity Asset Manager 85%, and the Securities and Exchange Commission and is not intended to be and should not be used by anyone other than these specified parties.
Boston, Massachusetts
November 19, 2012