Post Effective Amendment to Registration Statement Form POS AMI

245 Summer Street, Boston, MA 02210

Contents

Fund Summary	Fidelity® International Equity Central Fund
Fund Basics	Investment Details
Valuing Shares
Shareholder Information	Additional Information about the Purchase and Sale of Shares
Account Policies
Dividends and Capital Gain Distributions
Tax Consequences
Fund Services	Fund Management

• All of your cash purchases must be made by federal funds wire; checks and Automated Clearing House System (ACH) payments will not be accepted.
• All wires must be received in proper form by Fidelity at the fund's designated wire bank before the close of the Federal Reserve Wire System on the day of purchase or you could be liable for any losses or fees the fund or Fidelity has incurred or for interest and penalties.
• Investments in the fund may be made in cash or by contributing securities that are acceptable to the fund and the Adviser and that are consistent with the fund's investment objective and policies.

• Under applicable anti-money laundering rules and other regulations, purchase orders may be suspended, restricted, or canceled and the monies may be withheld.

• Redemptions may be suspended or payment dates postponed when the NYSE is closed (other than weekends or holidays), when trading on the NYSE is restricted, or as permitted by the SEC.
• Redemption proceeds may be paid in securities or other property rather than in cash if the Adviser determines it is in the best interests of the fund. The securities the fund distributes in kind may not be representative of the fund as a whole and may include those that the Adviser believes are least disruptive from a tax perspective.
• Under applicable anti-money laundering rules and other regulations, redemption requests may be suspended, restricted, canceled, or processed and the proceeds may be withheld.

Fund Name		Dividends Paid
Fidelity® International Equity Central Fund		March, June, September, December

Fund Name		Capital Gains Paid
Fidelity® International Equity Central Fund		December

FIA may provide investment research and advice on issuers based outside the United States and may also provide investment advisory services for the fund.

FIA(UK) may provide investment research and advice on issuers based outside the United States and may also provide investment advisory services for the fund.

IMPORTANT INFORMATION ABOUT OPENING A NEW ACCOUNT

To help the government fight the funding of terrorism and money laundering activities, the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001 (USA PATRIOT ACT), requires all financial institutions to obtain, verify, and record information that identifies each person or entity that opens an account. For investors other than individuals: When you open an account, you will be asked for the name of the entity, its principal place of business and taxpayer identification number (TIN). You will be asked to provide information about the entity's control person and beneficial owners, and person(s) with authority over the account, including name, address, date of birth and social security number. You may also be asked to provide documents, such as drivers' licenses, articles of incorporation, trust instruments or partnership agreements and other information that will help Fidelity identify the entity.

1.859191.122

INTCEN-PRO-1124

245 Summer Street, Boston, MA 02210

Contents

Fund Summary	Fidelity® Real Estate Equity Central Fund
Fund Basics	Investment Details
Valuing Shares
Shareholder Information	Additional Information about the Purchase and Sale of Shares
Account Policies
Dividends and Capital Gain Distributions
Tax Consequences
Fund Services	Fund Management

• All of your cash purchases must be made by federal funds wire; checks and Automated Clearing House System (ACH) payments will not be accepted.
• All wires must be received in proper form by Fidelity at the fund's designated wire bank before the close of the Federal Reserve Wire System on the day of purchase or you could be liable for any losses or fees the fund or Fidelity has incurred or for interest and penalties.
• Investments in the fund may be made in cash or by contributing securities that are acceptable to the fund and the Adviser and that are consistent with the fund's investment objective and policies.

• Under applicable anti-money laundering rules and other regulations, purchase orders may be suspended, restricted, or canceled and the monies may be withheld.

• Redemptions may be suspended or payment dates postponed when the NYSE is closed (other than weekends or holidays), when trading on the NYSE is restricted, or as permitted by the SEC.
• Redemption proceeds may be paid in securities or other property rather than in cash if the Adviser determines it is in the best interests of the fund. The securities the fund distributes in kind may not be representative of the fund as a whole and may include those that the Adviser believes are least disruptive from a tax perspective.
• Under applicable anti-money laundering rules and other regulations, redemption requests may be suspended, restricted, canceled, or processed and the proceeds may be withheld.

Fund Name		Dividends Paid
Fidelity® Real Estate Equity Central Fund		March, June, September, December

Fund Name		Capital Gains Paid
Fidelity® Real Estate Equity Central Fund		December

IMPORTANT INFORMATION ABOUT OPENING A NEW ACCOUNT

To help the government fight the funding of terrorism and money laundering activities, the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001 (USA PATRIOT ACT), requires all financial institutions to obtain, verify, and record information that identifies each person or entity that opens an account. For investors other than individuals: When you open an account, you will be asked for the name of the entity, its principal place of business and taxpayer identification number (TIN). You will be asked to provide information about the entity's control person and beneficial owners, and person(s) with authority over the account, including name, address, date of birth and social security number. You may also be asked to provide documents, such as drivers' licenses, articles of incorporation, trust instruments or partnership agreements and other information that will help Fidelity identify the entity.

1.831577.124

ESCIP-PRO-1124

245 Summer Street, Boston, MA 02210

Contents

Fund Summary	Fidelity® Floating Rate Central Fund
Fund Basics	Investment Details
Valuing Shares
Shareholder Information	Additional Information about the Purchase and Sale of Shares
Account Policies
Dividends and Capital Gain Distributions
Tax Consequences
Fund Services	Fund Management

• All of your cash purchases must be made by federal funds wire; checks and Automated Clearing House System (ACH) payments will not be accepted.
• All wires must be received in proper form by Fidelity at the fund's designated wire bank before the close of the Federal Reserve Wire System on the day of purchase or you could be liable for any losses or fees the fund or Fidelity has incurred or for interest and penalties.
• Investments in the fund may be made in cash or by contributing securities that are acceptable to the fund and the Adviser and that are consistent with the fund's investment objective and policies.

• Under applicable anti-money laundering rules and other regulations, purchase orders may be suspended, restricted, or canceled and the monies may be withheld.

• Redemptions may be suspended or payment dates postponed when the NYSE is closed (other than weekends or holidays), when trading on the NYSE is restricted, or as permitted by the SEC.
• Redemption proceeds may be paid in securities or other property rather than in cash if the Adviser determines it is in the best interests of the fund. The securities the fund distributes in kind may not be representative of the fund as a whole and may include those that the Adviser believes are least disruptive from a tax perspective.
• Under applicable anti-money laundering rules and other regulations, redemption requests may be suspended, restricted, canceled, or processed and the proceeds may be withheld.

Fund Name		Dividends Paid
Fidelity® Floating Rate Central Fund		Declares daily and pays monthly

Fund Name		Capital Gains Paid
Fidelity® Floating Rate Central Fund		December

IMPORTANT INFORMATION ABOUT OPENING A NEW ACCOUNT

To help the government fight the funding of terrorism and money laundering activities, the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001 (USA PATRIOT ACT), requires all financial institutions to obtain, verify, and record information that identifies each person or entity that opens an account. For investors other than individuals: When you open an account, you will be asked for the name of the entity, its principal place of business and taxpayer identification number (TIN). You will be asked to provide information about the entity's control person and beneficial owners, and person(s) with authority over the account, including name, address, date of birth and social security number. You may also be asked to provide documents, such as drivers' licenses, articles of incorporation, trust instruments or partnership agreements and other information that will help Fidelity identify the entity.

1.837317.123

CFC-PRO-1124

245 Summer Street, Boston, MA 02210

Contents

Fund Summary	Fidelity® Emerging Markets Equity Central Fund
Fund Basics	Investment Details
Valuing Shares
Shareholder Information	Additional Information about the Purchase and Sale of Shares
Account Policies
Dividends and Capital Gain Distributions
Tax Consequences
Fund Services	Fund Management

• All of your cash purchases must be made by federal funds wire; checks and Automated Clearing House System (ACH) payments will not be accepted.
• All wires must be received in proper form by Fidelity at the fund's designated wire bank before the close of the Federal Reserve Wire System on the day of purchase or you could be liable for any losses or fees the fund or Fidelity has incurred or for interest and penalties.
• Investments in the fund may be made in cash or by contributing securities that are acceptable to the fund and the Adviser and that are consistent with the fund's investment objective and policies.

• Under applicable anti-money laundering rules and other regulations, purchase orders may be suspended, restricted, or canceled and the monies may be withheld.

• Redemptions may be suspended or payment dates postponed when the NYSE is closed (other than weekends or holidays), when trading on the NYSE is restricted, or as permitted by the SEC.
• Redemption proceeds may be paid in securities or other property rather than in cash if the Adviser determines it is in the best interests of the fund. The securities the fund distributes in kind may not be representative of the fund as a whole and may include those that the Adviser believes are least disruptive from a tax perspective.
• Under applicable anti-money laundering rules and other regulations, redemption requests may be suspended, restricted, canceled, or processed and the proceeds may be withheld.

Fund Name		Dividends Paid
Fidelity® Emerging Markets Equity Central Fund		March, June, September, December

Fund Name		Capital Gains Paid
Fidelity® Emerging Markets Equity Central Fund		December

FIA may provide investment research and advice on issuers based outside the United States and may also provide investment advisory services for the fund.

FIA(UK) may provide investment research and advice on issuers based outside the United States and may also provide investment advisory services for the fund.

IMPORTANT INFORMATION ABOUT OPENING A NEW ACCOUNT

To help the government fight the funding of terrorism and money laundering activities, the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001 (USA PATRIOT ACT), requires all financial institutions to obtain, verify, and record information that identifies each person or entity that opens an account. For investors other than individuals: When you open an account, you will be asked for the name of the entity, its principal place of business and taxpayer identification number (TIN). You will be asked to provide information about the entity's control person and beneficial owners, and person(s) with authority over the account, including name, address, date of birth and social security number. You may also be asked to provide documents, such as drivers' licenses, articles of incorporation, trust instruments or partnership agreements and other information that will help Fidelity identify the entity.

1.876924.119

EMQ-PRO-1124

Fidelity® International Equity Central Fund

TABLE OF CONTENTS

INVESTMENT POLICIES AND LIMITATIONS

SPECIAL GEOGRAPHIC CONSIDERATIONS

PORTFOLIO TRANSACTIONS

VALUATION

BUYING AND SELLING INFORMATION

DISTRIBUTIONS AND TAXES

DIRECTORS AND OFFICERS (TRUSTEES AND OFFICERS)

CONTROL OF INVESTMENT ADVISERS

MANAGEMENT CONTRACT

PROXY VOTING GUIDELINES

TRANSFER AND SERVICE AGENT SERVICES

SECURITIES LENDING

DESCRIPTION OF THE COMPANY

FUND HOLDINGS INFORMATION

FINANCIAL STATEMENTS

APPENDIX

Turnover Rates	2024	2023
Fidelity® International Equity Central Fund	35%	40%

Fund	Regular Broker or Dealer		Aggregate Value of Securities Held
Fidelity® International Equity Central Fund	Royal Bank of Canada	$	42,473,023
	UBS AG	$	29,517,526

Fund	Fiscal Year Ended		Dollar Amount	Percentage of Average Net Assets
Fidelity® International Equity Central Fund	2024	$	3,129,721	0.06%
	2023	$	3,372,588	0.07%
	2022	$	2,708,928	0.07%

Fund(s)	Fiscal Year Ended	Broker	Affiliated With	C	ommissions	Percentage of Aggregate Brokerage Commissions	Percentage of Aggregate Dollar Amount of Brokerage Transactions
Fidelity® International Equity Central Fund	2024	FCM	FMR LLC	$	2,027	0.06%	0.58%
	2024	Kezar Trading	FMR LLC	$	70	0.00%	0.03%
	2023	FCM	FMR LLC	$	1,949
	2023	Kezar Trading	FMR LLC	$	2,941
	2022	FCM	FMR LLC	$	2,142
	2022	Kezar Trading	FMR LLC	$	111

Fund	Fiscal Year Ended		$ Amount of Commissions Paid to Firms for Providing Research or Brokerage Services		$ Amount of Brokerage Transactions Involved
Fidelity® International Equity Central Fund	2024	$	2,768,819	$	2,920,281,256

Fund	Twelve Month Period Ended		$ Amount of Commissions Allocated for Research or Brokerage Services
Fidelity® International Equity Central Fund	June 30, 2024	$	1,272,113

Fund		Capital Loss Carryforward (CLC)
Fidelity® International Equity Central Fund	$	33,774,131

COMMITTEE	NUMBER OF MEETINGS HELD
Operations Committee	10
Fair Value Oversight Committee	5
Equity I Committee	6
Equity II Committee	6
Shareholder, Distribution, Brokerage, and Proxy Voting Committee	7
Audit Committee	4
Governance and Nominating Committee	10
Compliance Committee	5
Research Committee	6

DOLLAR RANGE OF FUND SHARES	BETTINA DOULTON	ROBERT A LAWRENCE
Fidelity® International Equity Central Fund	none	none
AGGREGATE DOLLAR RANGE OF FUND SHARES IN ALL FUNDS OVERSEEN WITHIN FUND FAMILY	over $100,000	over $100,000

DOLLAR RANGE OF FUND SHARES	VIJAY ADVANI	THOMAS P BOSTICK	DONALD F DONAHUE	VICKI L FULLER
Fidelity® International Equity Central Fund	none	none	none	none
AGGREGATE DOLLAR RANGE OF FUND SHARES IN ALL FUNDS OVERSEEN WITHIN FUND FAMILY	over $100,000	over $100,000	over $100,000	over $100,000

DOLLAR RANGE OF FUND SHARES	PATRICIA L KAMPLING	THOMAS A KENNEDY	OSCAR MUNOZ	KAREN PEETZ
Fidelity® International Equity Central Fund	none	none	none	none
AGGREGATE DOLLAR RANGE OF FUND SHARES IN ALL FUNDS OVERSEEN WITHIN FUND FAMILY	over $100,000	over $100,000	none	over $100,000

DOLLAR RANGE OF FUND SHARES	DAVID M THOMAS	SUSAN TOMASKY	MICHAEL E WILEY
Fidelity® International Equity Central Fund	none	none	none
AGGREGATE DOLLAR RANGE OF FUND SHARES IN ALL FUNDS OVERSEEN WITHIN FUND FAMILY	over $100,000	over $100,000	over $100,000

			AGGREGATE COMPENSATION FROM A FUND		ACCRUED VOLUNTARY DEFERRED COMPENSATION FROM A FUND
Fidelity® International Equity Central Fund	VIJAY ADVANI(B)	$	1,329	$	0
	THOMAS P BOSTICK	$	1,354	$	0
	DONALD F DONAHUE	$	1,456	$	0
	VICKI L FULLER	$	1,354	$	0
	PATRICIA L KAMPLING	$	1,354	$	0
	THOMAS A KENNEDY	$	1,354	$	0
	OSCAR MUNOZ	$	1,329	$	0
	KAREN PEETZ(C)	$	1,329	$	0
	DAVID M THOMAS	$	1,584	$	0
	SUSAN TOMASKY	$	1,354	$	0
	MICHAEL E WILEY	$	1,431	$	0

(A) Bettina Doulton, Robert A. Lawrence, and Peter S. Lynch are interested persons and are compensated by Fidelity.

(B) Mr. Advani serves as a Trustee of Fidelity Central Investment Portfolios LLC effective August 1, 2023.

(C) Ms. Peetz served as a Member of the Advisory Board of Fidelity Central Investment Portfolios LLC from August 1, 2023 through July 15, 2024. Ms. Peetz serves as a Trustee of Fidelity Central Investment Portfolios LLC effective July 16, 2024.

			TOTAL COMPENSATION FROM THE FUND COMPLEX(A)		VOLUNTARY DEFERRED COMPENSATION FROM THE FUND COMPLEX
	VIJAY ADVANI	$	216,667	$	128,708
	THOMAS P BOSTICK	$	530,000	$	120,000
	DONALD F DONAHUE	$	570,000	$	336,252
	VICKI L FULLER	$	530,000	$	150,000
	PATRICIA L KAMPLING	$	530,000	$	0
	THOMAS A KENNEDY	$	530,000	$	156,083
	OSCAR MUNOZ	$	520,000	$	0
	KAREN PEETZ	$	216,667	$	128,708
	DAVID M THOMAS	$	620,000	$	0
	SUSAN TOMASKY	$	530,000	$	180,000
	MICHAEL E WILEY	$	560,000	$	0

(A) Reflects compensation received for the calendar year ended December 31, 2023, for 322 funds of 30 trusts (including Fidelity Central Investment Portfolios LLC). Compensation figures include cash and may include amounts elected to be deferred.

	Registered Investment Companies*		Other Pooled Investment Vehicles		Other Accounts
Number of Accounts Managed	1		none		none
Number of Accounts Managed with Performance-Based Advisory Fees	none		none		none
Assets Managed (in millions)	$329		none		none
Assets Managed with Performance-Based Advisory Fees (in millions)	none		none		none

	Registered Investment Companies*		Other Pooled Investment Vehicles		Other Accounts
Number of Accounts Managed	3		3		none
Number of Accounts Managed with Performance-Based Advisory Fees	none		none		none
Assets Managed (in millions)	$6,172		$1,869		none
Assets Managed with Performance-Based Advisory Fees (in millions)	none		none		none

	Registered Investment Companies*		Other Pooled Investment Vehicles		Other Accounts
Number of Accounts Managed	2		3		none
Number of Accounts Managed with Performance-Based Advisory Fees	none		none		none
Assets Managed (in millions)	$430		$205		none
Assets Managed with Performance-Based Advisory Fees (in millions)	none		none		none

	Registered Investment Companies*		Other Pooled Investment Vehicles		Other Accounts
Number of Accounts Managed	14		17		1
Number of Accounts Managed with Performance-Based Advisory Fees	1		none		none
Assets Managed (in millions)	$10,249		$2,021		$71
Assets Managed with Performance-Based Advisory Fees (in millions)	$289		none		none

	Registered Investment Companies*		Other Pooled Investment Vehicles		Other Accounts
Number of Accounts Managed	1		none		none
Number of Accounts Managed with Performance-Based Advisory Fees	none		none		none
Assets Managed (in millions)	$489		none		none
Assets Managed with Performance-Based Advisory Fees (in millions)	none		none		none

	Registered Investment Companies*		Other Pooled Investment Vehicles		Other Accounts
Number of Accounts Managed	3		none		none
Number of Accounts Managed with Performance-Based Advisory Fees	1		none		none
Assets Managed (in millions)	$1,207		none		none
Assets Managed with Performance-Based Advisory Fees (in millions)	$621		none		none

	Registered Investment Companies*		Other Pooled Investment Vehicles		Other Accounts
Number of Accounts Managed	4		none		none
Number of Accounts Managed with Performance-Based Advisory Fees	none		none		none
Assets Managed (in millions)	$321		none		none
Assets Managed with Performance-Based Advisory Fees (in millions)	none		none		none

	Registered Investment Companies*		Other Pooled Investment Vehicles		Other Accounts
Number of Accounts Managed	7		3		none
Number of Accounts Managed with Performance-Based Advisory Fees	2		none		none
Assets Managed (in millions)	$33,274		$7,341		none
Assets Managed with Performance-Based Advisory Fees (in millions)	$7,137		none		none

	Registered Investment Companies*		Other Pooled Investment Vehicles		Other Accounts
Number of Accounts Managed	1		none		none
Number of Accounts Managed with Performance-Based Advisory Fees	none		none		none
Assets Managed (in millions)	$115		none		none
Assets Managed with Performance-Based Advisory Fees (in millions)	none		none		none

	Registered Investment Companies*		Other Pooled Investment Vehicles		Other Accounts
Number of Accounts Managed	1		3		none
Number of Accounts Managed with Performance-Based Advisory Fees	none		none		none
Assets Managed (in millions)	$429		$423		none
Assets Managed with Performance-Based Advisory Fees (in millions)	none		none		none

	Registered Investment Companies*		Other Pooled Investment Vehicles		Other Accounts
Number of Accounts Managed	1		none		none
Number of Accounts Managed with Performance-Based Advisory Fees	none		none		none
Assets Managed (in millions)	$249		none		none
Assets Managed with Performance-Based Advisory Fees (in millions)	none		none		none

	Registered Investment Companies*		Other Pooled Investment Vehicles		Other Accounts
Number of Accounts Managed	3		none		none
Number of Accounts Managed with Performance-Based Advisory Fees	1		none		none
Assets Managed (in millions)	$1,281		none		none
Assets Managed with Performance-Based Advisory Fees (in millions)	$621		none		none

	Registered Investment Companies*		Other Pooled Investment Vehicles		Other Accounts
Number of Accounts Managed	3		3		none
Number of Accounts Managed with Performance-Based Advisory Fees	none		none		none
Assets Managed (in millions)	$6,491		$1,899		none
Assets Managed with Performance-Based Advisory Fees (in millions)	none		none		none

Fidelity Proxy Voting Guidelines

I. Introduction These guidelines are intended to help Fidelity's customers and the companies in which Fidelity invests understand how Fidelity votes proxies to further the values that have sustained Fidelity for over 75 years. Our core principles sit at the heart of our voting philosophy; putting our customers' and fund shareholders' long-term interests first and investing in companies that share our approach to creating value over the long-term guides everything we do. Fidelity generally adheres to these guidelines in voting proxies and our Stewardship Principles serve as the foundation for these guidelines. Our evaluation of proxies reflects information from many sources, including management or shareholders of a company presenting a proposal and proxy voting advisory firms. Fidelity maintains the flexibility to vote individual proxies based on our assessment of each situation. In evaluating proxies, Fidelity considers factors that are financially material to individual companies and investing funds' investment objectives and strategies in support of maximizing long-term shareholder value. This includes considering the company's approach to financial and operational, human, and natural capital and the impact of that approach on the potential future value of the business. Fidelity will vote on proposals not specifically addressed by these guidelines based on an evaluation of a proposal's likelihood to enhance the long-term economic returns or profitability of the company or to maximize long-term shareholder value. Fidelity will not be influenced by business relationships or outside perspectives that may conflict with the interests of the funds and their shareholders. II. Board of Directors and Corporate Governance Directors of public companies play a critical role in ensuring that a company and its management team serve the interests of its shareholders. Fidelity believes that through proxy voting, it can help ensure accountability of management teams and boards of directors, align management and shareholder interests, and monitor and assess the degree of transparency and disclosure with respect to executive compensation and board actions affecting shareholders' rights. The following general guidelines are intended to reflect these proxy voting principles. A. Election of Directors Fidelity will generally support director nominees in elections where all directors are unopposed (uncontested elections), except where board composition raises concerns, and/or where a director clearly appears to have failed to exercise reasonable judgment or otherwise failed to sufficiently protect the interests of shareholders. Fidelity will evaluate board composition and generally will oppose the election of certain or all directors if, by way of example: 1. The board is not composed of a majority of independent directors. 2. The board's audit, compensation, and nominating/governance committees or their equivalents are not sufficiently independent. 3. There is no gender diversity on the board, or if a board of ten or more members has fewer than two gender diverse directors. 4. There are no racially or ethnically diverse directors on the board. 5. The director is a public company CEO who sits on more than two unaffiliated public company boards. 6. The director, other than a CEO, sits on more than five unaffiliated public company boards. 7. The director attended fewer than 75% of the total number of meetings of the board and its committees on which the director served during the company's prior fiscal year, absent extenuating circumstances. While Fidelity generally considers the requirements of the relevant listing standards in determining director, board, and committee independence, we may apply more stringent independence criteria and adapt such criteria for certain foreign markets, taking into consideration listing requirements as well as differing laws, regulation, and/or practices in the relevant market. For example, Fidelity generally will find non-independent 1. Former CEOs. 2. Company founders. 3. Directors or director family members that were employed as senior executives by the company within the past five years. Fidelity also may evaluate financial relationships, equity ownership, and voting rights in assessing the independence of director nominees. In addition, Fidelity will evaluate board actions and generally will oppose the election of certain or all directors if, by way of example: 1. The company made a commitment to modify a proposal or practice to conform to these guidelines, and failed to act on that commitment. 2. For reasons described below under the sections entitled Compensation and Anti-Takeover Provisions and Director Elections. B. Contested Director Elections On occasion, directors are forced to compete for election against outside director nominees (contested elections). Fidelity believes that strong management creates long-term shareholder value. As a result, Fidelity generally will vote in support of management of companies in which the funds' assets are invested. Fidelity will vote its proxy on a case-by-case basis in a contested election, taking into consideration a number of factors, amongst others: 1. Management's track record and strategic plan for enhancing shareholder value; 2. The long-term performance of the company compared to its industry peers; and 3. The qualifications of the shareholder's and management's nominees. Fidelity will vote for the outcome it believes has the best prospects for maximizing shareholder value over the long-term. C. Cumulative Voting Rights Under cumulative voting, each shareholder may exercise the number of votes equal to the number of shares owned multiplied by the number of directors up for election. Shareholders may cast all of their votes for a single nominee (or multiple nominees in varying amounts). With regular (non-cumulative) voting, by contrast, shareholders cannot allocate more than one vote per share to any one director nominee. Fidelity believes that cumulative voting can be detrimental to the overall strength of a board. Generally, therefore, Fidelity will oppose the introduction of, and support the elimination of, cumulative voting rights. D. Classified Boards A classified board is one that elects only a percentage of its members each year (usually one-third of directors are elected to serve a three-year term). This means that at each annual meeting only a subset of directors is up for re-election. Fidelity believes that, in general, classified boards are not as accountable to shareholders as declassified boards. For this and other reasons, Fidelity generally will oppose a board's adoption of a classified board structure and support declassification of existing boards. E. Independent Chairperson In general, Fidelity believes that boards should have a process and criteria for selecting the board chair, and will oppose shareholder proposals calling for, or recommending the appointment of, a non-executive or independent chairperson. If, however, based on particular facts and circumstances, Fidelity believes that appointment of a non-executive or independent chairperson appears likely to further the interests of shareholders and promote effective oversight of management by the board of directors, Fidelity will consider voting to support a proposal for an independent chairperson under such circumstances. F. Majority Voting in Director Elections In general, Fidelity supports proposals calling for directors to be elected by a majority of votes cast if the proposal permits election by a plurality in the case of contested elections (where, for example, there are more nominees than board seats). Fidelity may oppose a majority voting shareholder proposal where a company's board has adopted a policy requiring the resignation of an incumbent director who fails to receive the support of a majority of the votes cast in an uncontested election. G. Proxy Access Proxy access proposals generally require a company to amend its by-laws to allow a qualifying shareholder or group of shareholders to nominate directors on a company's proxy ballot. Fidelity believes that certain safeguards as to ownership threshold and duration of ownership are important to assure that proxy access is not misused by those without a significant economic interest in the company or those driven by short term goals. Fidelity will evaluate proxy access proposals on a case-by-case basis, but generally will support proposals that include ownership of at least 3% (5% in the case of small-cap companies) of the company's shares outstanding for at least three years; limit the number of directors that eligible shareholders may nominate to 20% of the board; and limit to 20 the number of shareholders that may form a nominating group. H. Indemnification of Directors and Officers In many instances there are sound reasons to indemnify officers and directors, so that they may perform their duties without the distraction of unwarranted litigation or other legal process. Fidelity generally supports charter and by-law amendments expanding the indemnification of officers or directors, or limiting their liability for breaches of care unless Fidelity is dissatisfied with their performance or the proposal is accompanied by anti-takeover provisions (see Anti-Takeover Provisions and Shareholders Rights Plans below). III. Compensation Incentive compensation plans can be complicated and many factors are considered when evaluating such plans. Fidelity evaluates such plans based on protecting shareholder interests and our historical knowledge of the company and its management. A. Equity Compensation Plans Fidelity encourages the use of reasonably designed equity compensation plans that align the interest of management with those of shareholders by providing officers and employees with incentives to increase long-term shareholder value. Fidelity considers whether such plans are too dilutive to existing shareholders because dilution reduces the voting power or economic interest of existing shareholders as a result of an increase in shares available for distribution to employees in lieu of cash compensation. Fidelity will generally oppose equity compensation plans or amendments to authorize additional shares under such plans if: 1. The company grants stock options and equity awards in a given year at a rate higher than a benchmark rate ("burn rate") considered appropriate by Fidelity and there were no circumstances specific to the company or the compensation plans that leads Fidelity to conclude that the rate of awards is otherwise acceptable. 2. The plan includes an evergreen provision, which is a feature that provides for an automatic increase in the shares available for grant under an equity compensation plan on a regular basis. 3. The plan provides for the acceleration of vesting of equity compensation even though an actual change in control may not occur. As to stock option plans, considerations include the following: 1. Pricing: We believe that options should be priced at 100% of fair market value on the date they are granted. We generally oppose options priced at a discount to the market, although the price may be as low as 85% of fair market value if the discount is expressly granted in lieu of salary or cash bonus. 2. Re-pricing: An "out-of-the-money" (or underwater) option has an exercise price that is higher than the current price of the stock. We generally oppose the re-pricing of underwater options because it is not consistent with a policy of offering options as a form of long-term compensation. Fidelity also generally opposes a stock option plan if the board or compensation committee has re-priced options outstanding in the past two years without shareholder approval. Fidelity generally will support a management proposal to exchange, re-price or tender for cash, outstanding options if the proposed exchange, re-pricing, or tender offer is consistent with the interests of shareholders, taking into account a variety of factors such as: 1. Whether the proposal excludes senior management and directors; 2. Whether the exchange or re-pricing proposal is value neutral to shareholders based upon an acceptable pricing model; 3. The company's relative performance compared to other companies within the relevant industry or industries; 4. Economic and other conditions affecting the relevant industry or industries in which the company competes; and 5. Any other facts or circumstances relevant to determining whether an exchange or re-pricing proposal is consistent with the interests of shareholders. B. Employee Stock Purchase Plans These plans are designed to allow employees to purchase company stock at a discounted price and receive favorable tax treatment when the stock is sold. Fidelity generally will support employee stock purchase plans if the minimum stock purchase price is equal to or greater than 85% (or at least 75% in the case of non-U.S. companies where a lower minimum stock purchase price is equal to the prevailing "best practices" in that market) of the stock's fair market value and the plan constitutes a reasonable effort to encourage broad based participation in the company's stock. IV. Advisory Vote on Executive Compensation (Say on Pay) and Frequency of Say on Pay Vote Current law requires companies to allow shareholders to cast non-binding votes on the compensation for named executive officers, as well as the frequency of such votes. Fidelity generally will support proposals to ratify executive compensation unless the compensation appears misaligned with shareholder interests or is otherwise problematic, taking into account: - The actions taken by the board or compensation committee in the previous year, including whether the company re-priced or exchanged outstanding stock options without shareholder approval; adopted or extended a golden parachute without shareholder approval; or adequately addressed concerns communicated by Fidelity in the process of discussing executive compensation; - The alignment of executive compensation and company performance relative to peers; and - The structure of the compensation program, including factors such as whether incentive plan metrics are appropriate, rigorous and transparent; whether the long-term element of the compensation program is evaluated over at least a three-year period; the sensitivity of pay to below median performance; the amount and nature of non-performance-based compensation; the justification and rationale behind paying discretionary bonuses; the use of stock ownership guidelines and amount of executive stock ownership; and how well elements of compensation are disclosed. When presented with a frequency of Say on Pay vote, Fidelity generally will support holding an annual advisory vote on Say on Pay. A. Compensation Committee Directors serving on the compensation committee of the Board have a special responsibility to ensure that management is appropriately compensated and that compensation, among other things, fairly reflects the performance of the company. Fidelity believes that compensation should align with company performance as measured by key business metrics. Compensation policies should align the interests of executives with those of shareholders. Further, the compensation program should be disclosed in a transparent and timely manner. Fidelity will oppose the election of directors on the compensation committee if: 1.The compensation appears misaligned with shareholder interests or is otherwise problematic and results in concerns with: a)The alignment of executive compensation and company performance relative to peers; and b)The structure of the compensation program, including factors outlined above under the section entitled Advisory Vote on Executive Compensation (Say on Pay) and Frequency of Say on Pay Vote. 2. The company has not adequately addressed concerns communicated by Fidelity in the process of discussing executive compensation. 3. Within the last year, and without shareholder approval, a company's board of directors or compensation committee has either: a) Re-priced outstanding options, exchanged outstanding options for equity, or tendered cash for outstanding options; or b) Adopted or extended a golden parachute. B. Executive Severance Agreements Executive severance compensation and benefit arrangements resulting from a termination following a change in control are known as "golden parachutes." Fidelity generally will oppose proposals to ratify golden parachutes where the arrangement includes an excise tax gross-up provision; single trigger for cash incentives; or may result in a lump sum payment of cash and acceleration of equity that may total more than three times annual compensation (salary and bonus) in the event of a termination following a change in control. V. Natural and Human Capital Issues As part of our efforts to maximize long-term shareholder value, we incorporate consideration of human and natural capital issues into our evaluation of a company if our research has demonstrated an issue is financially material to that company and the investing funds' investment objectives and strategies. Fidelity generally considers management's recommendation and current practice when voting on shareholder proposals concerning human and natural capital issues because it generally believes that management and the board are in the best position to determine how to address these matters. Fidelity, however, also believes that transparency is critical to sound corporate governance. Fidelity evaluates shareholder proposals concerning natural and human capital topics. To engage and vote more effectively on the growing number of submitted proposals on these topics, we developed a four-point decision-making framework. In general, Fidelity will more likely support proposals that: •Address a topic that our research has identified as financially material; •Provide disclosure of new or additional information to investors without being overly prescriptive; •Provide valuable information to the business or investors by improving the landscape of investment-decision relevant information or contributing to our understanding of a company's processes and governance of the topic in question; and •Are realistic or practical for the company to comply with. VI. Anti-Takeover Provisions and Shareholders Rights Plans Fidelity generally will oppose a proposal to adopt an anti-takeover provision. Anti-takeover provisions include: - classified boards; - "blank check" preferred stock (whose terms and conditions may be expressly determined by the company's board, for example, with differential voting rights); - golden parachutes; - supermajority provisions (that require a large majority (generally between 67-90%) of shareholders to approve corporate changes as compared to a majority provision that simply requires more than 50% of shareholders to approve those changes); - poison pills; - provisions restricting the right to call special meetings; - provisions restricting the right of shareholders to set board size; and - any other provision that eliminates or limits shareholder rights. A. Shareholders Rights Plans ("poison pills") Poison pills allow shareholders opposed to a takeover offer to purchase stock at discounted prices under certain circumstances and effectively give boards veto power over any takeover offer. While there are advantages and disadvantages to poison pills, they can be detrimental to the creation of shareholder value and can help entrench management by deterring acquisition offers not favored by the board, but that may, in fact, be beneficial to shareholders. Fidelity generally will support a proposal to adopt or extend a poison pill if the proposal: 1. Includes a condition in the charter or plan that specifies an expiration date (sunset provision) of no greater than five years; 2. Is integral to a business strategy that is expected to result in greater value for the shareholders; 3. Requires shareholder approval to be reinstated upon expiration or if amended; 4. Contains a mechanism to allow shareholders to consider a bona fide takeover offer for all outstanding shares without triggering the poison pill; and 5. Allows the Fidelity funds to hold an aggregate position of up to 20% of a company's total voting securities, where permissible. Fidelity generally also will support a proposal that is crafted only for the purpose of protecting a specific tax benefit if it also believes the proposal is likely to enhance long-term economic returns or maximize long-term shareholder value. B. Shareholder Ability to Call a Special Meeting Fidelity generally will support shareholder proposals regarding shareholders' right to call special meetings if the threshold required to call the special meeting is no less than 25% of the outstanding stock. C. Shareholder Ability to Act by Written Consent Fidelity generally will support proposals regarding shareholders' right to act by written consent if the proposals include appropriate mechanisms for implementation. This means that proposals must include record date requests from at least 25% of the outstanding stockholders and consents must be solicited from all shareholders. D. Supermajority Shareholder Vote Requirement Fidelity generally will support proposals regarding supermajority provisions if Fidelity believes that the provisions protect minority shareholder interests in companies where there is a substantial or dominant shareholder. VII. Anti-Takeover Provisions and Director Elections Fidelity will oppose the election of all directors or directors on responsible committees if the board adopted or extended an anti-takeover provision without shareholder approval. Fidelity will consider supporting the election of directors with respect to poison pills if: - All of the poison pill's features outlined under the Anti-Takeover Provisions and Shareholders Rights section above are met when a poison pill is adopted or extended. - A board is willing to consider seeking shareholder ratification of, or adding the features outlined under the Anti-Takeover Provisions and Shareholders Rights Plans section above to, an existing poison pill. If, however, the company does not take appropriate action prior to the next annual shareholder meeting, Fidelity will oppose the election of all directors at that meeting. - It determines that the poison pill was narrowly tailored to protect a specific tax benefit, and subject to an evaluation of its likelihood to enhance long-term economic returns or maximize long-term shareholder value. VIII. Capital Structure and Incorporation These guidelines are designed to protect shareholders' value in the companies in which the Fidelity funds invest. To the extent a company's management is committed and incentivized to maximize shareholder value, Fidelity generally votes in favor of management proposals; Fidelity may vote contrary to management where a proposal is overly dilutive to shareholders and/or compromises shareholder value or other interests. The guidelines that follow are meant to protect shareholders in these respects. A. Increases in Common Stock Fidelity may support reasonable increases in authorized shares for a specific purpose (a stock split or re-capitalization, for example). Fidelity generally will oppose a provision to increase a company's authorized common stock if such increase will result in a total number of authorized shares greater than three times the current number of outstanding and scheduled to be issued shares, including stock options. In the case of real estate investment trusts (REITs), however, Fidelity will oppose a provision to increase the REIT's authorized common stock if the increase will result in a total number of authorized shares greater than five times the current number of outstanding and scheduled to be issued shares. B. Multi-Class Share Structures Fidelity generally will support proposals to recapitalize multi-class share structures into structures that provide equal voting rights for all shareholders, and generally will oppose proposals to introduce or increase classes of stock with differential voting rights. However, Fidelity will evaluate all such proposals in the context of their likelihood to enhance long-term economic returns or maximize long-term shareholder value. C. Incorporation or Reincorporation in another State or Country Fidelity generally will support management proposals calling for, or recommending that, a company reincorporate in another state or country if, on balance, the economic and corporate governance factors in the proposed jurisdiction appear reasonably likely to be better aligned with shareholder interests, taking into account the corporate laws of the current and proposed jurisdictions and any changes to the company's current and proposed governing documents. Fidelity will consider supporting these shareholder proposals in limited cases if, based upon particular facts and circumstances, remaining incorporated in the current jurisdiction appears misaligned with shareholder interests. IX. Shares of Fidelity Funds or other non-Fidelity Funds When a Fidelity fund invests in an underlying Fidelity fund with public shareholders or a non-Fidelity investment company or business development company, Fidelity will generally vote in the same proportion as all other voting shareholders of the underlying fund (this is known as "echo voting"). Fidelity may not vote if "echo voting" is not operationally practical or not permitted under applicable laws and regulations. For Fidelity fund investments in a Fidelity Series Fund, Fidelity generally will vote in a manner consistent with the recommendation of the Fidelity Series Fund's Board of Trustees on all proposals, except where not permitted under applicable laws and regulations. X. Foreign Markets Many Fidelity funds invest in voting securities issued by companies that are domiciled outside the United States and are not listed on a U.S. securities exchange. Corporate governance standards, legal or regulatory requirements and disclosure practices in foreign countries can differ from those in the United States. When voting proxies relating to non-U.S. securities, Fidelity generally will evaluate proposals under these guidelines and where applicable and feasible, take into consideration differing laws, regulations and practices in the relevant foreign market in determining how to vote shares. In certain non-U.S. jurisdictions, shareholders voting shares of a company may be restricted from trading the shares for a period of time around the shareholder meeting date. Because these trading restrictions can hinder portfolio management and could result in a loss of liquidity for a fund, Fidelity generally will not vote proxies in circumstances where such restrictions apply. In addition, certain non-U.S. jurisdictions require voting shareholders to disclose current share ownership on a fund-by-fund basis. When such disclosure requirements apply, Fidelity generally will not vote proxies in order to safeguard fund holdings information. XI. Securities on Loan Securities on loan as of a record date cannot be voted. In certain circumstances, Fidelity may recall a security on loan before record date (for example, in a particular contested director election or a noteworthy merger or acquisition). Generally, however, securities out on loan remain on loan and are not voted because, for example, the income a fund derives from the loan outweighs the benefit the fund receives from voting the security. In addition, Fidelity may not be able to recall and vote loaned securities if Fidelity is unaware of relevant information before record date, or is otherwise unable to timely recall securities on loan. XII. Compliance with Legal Obligations and Avoiding Conflicts of Interest Voting of shares is conducted in a manner consistent with Fidelity's fiduciary obligations to the funds and all applicable laws and regulations. In other words, Fidelity votes in a manner consistent with these guidelines and in the best interests of the funds and their shareholders, and without regard to any other Fidelity companies' business relationships. Fidelity takes its responsibility to vote shares in the best interests of the funds seriously and has implemented policies and procedures to address actual and potential conflicts of interest. XIII. Conclusion Since its founding more than 75 years ago, Fidelity has been driven by two fundamental values: 1) putting the long-term interests of our customers and fund shareholders first; and 2) investing in companies that share our approach to creating value over the long-term. With these fundamental principles as guideposts, the funds are managed to provide the greatest possible return to shareholders consistent with governing laws and the investment guidelines and objectives of each fund. Fidelity believes that there is a strong correlation between sound corporate governance and enhancing shareholder value. Fidelity, through the implementation of these guidelines, puts this belief into action through consistent engagement with portfolio companies on matters contained in these guidelines, and, ultimately, through the exercise of voting rights by the funds. Glossary Burn rate means the total number of stock option and full value equity awards granted as compensation in a given year divided by the weighted average common stock outstanding for that same year. - For a large-capitalization company, burn rate higher than 1.5%. - For a small-capitalization company, burn rate higher than 2.5%. - For a micro-capitalization company, burn rate higher than 3.5%. Golden parachute means employment contracts, agreements, or policies that include an excise tax gross-up provision; single trigger for cash incentives; or may result in a lump sum payment of cash and acceleration of equity that may total more than three times annual compensation (salary and bonus) in the event of a termination following a change in control. Large-capitalization company means a company included in the Russell 1000® Index or the Russell Global ex-U.S. Large Cap Index. Micro-capitalization company means a company with market capitalization under US $300 million. Poison pill refers to a strategy employed by a potential takeover / target company to make its stock less attractive to an acquirer. Poison pills are generally designed to dilute the acquirer's ownership and value in the event of a takeover. Small-capitalization company means a company not included in the Russell 1000® Index or the Russell Global ex-U.S. Large Cap Index that is not a Micro-Capitalization Company.

To view a fund's proxy voting record for the most recent 12-month period ended June 30, if applicable, visit www.fidelity.com/proxyvotingresults or visit the SEC's web site at www.sec.gov. To request a free copy of a fund's proxy voting record, please call Fidelity at the telephone number listed on the front cover page of this SAI.

Security Lending Activities		Fund(s)
		Fidelity® International Equity Central Fund
Gross income from securities lending activities	$	640,571
Fees paid to securities lending agent from a revenue split	$	0
Administrative fees	$	0
Rebate (paid to borrower)	$	423,295
Other fees not included in the revenue split (lending agent fees to NFS)	$	20,891
Aggregate fees/compensation for securities lending activities	$	444,185
Net income from securities lending activities	$	196,386

Fidelity® Emerging Markets Equity Central Fund

TABLE OF CONTENTS

INVESTMENT POLICIES AND LIMITATIONS

SPECIAL GEOGRAPHIC CONSIDERATIONS

PORTFOLIO TRANSACTIONS

VALUATION

BUYING AND SELLING INFORMATION

DISTRIBUTIONS AND TAXES

DIRECTORS AND OFFICERS (TRUSTEES AND OFFICERS)

CONTROL OF INVESTMENT ADVISERS

MANAGEMENT CONTRACT

PROXY VOTING GUIDELINES

TRANSFER AND SERVICE AGENT SERVICES

SECURITIES LENDING

DESCRIPTION OF THE COMPANY

FUND HOLDINGS INFORMATION

FINANCIAL STATEMENTS

APPENDIX

Turnover Rates	2024	2023
Fidelity® Emerging Markets Equity Central Fund	42%	50%

Fund	Fiscal Year Ended		Dollar Amount	Percentage of Average Net Assets
Fidelity® Emerging Markets Equity Central Fund	2024	$	2,449,736	0.11%
	2023	$	2,329,448	0.11%
	2022	$	2,476,215	0.13%

Fund(s)	Fiscal Year Ended	Broker	Affiliated With	C	ommissions	Percentage of Aggregate Brokerage Commissions	Percentage of Aggregate Dollar Amount of Brokerage Transactions
Fidelity® Emerging Markets Equity Central Fund	2024	FCM	FMR LLC	$	2,576	0.11%	0.90%
	2024	Kezar Trading	FMR LLC	$	452	0.02%	0.23%
	2023	FCM	FMR LLC	$	6,992
	2023	Kezar Trading	FMR LLC	$	1,349
	2022	FCM	FMR LLC	$	10,814
	2022	Kezar Trading	FMR LLC	$	1,162

Fund	Fiscal Year Ended		$ Amount of Commissions Paid to Firms for Providing Research or Brokerage Services		$ Amount of Brokerage Transactions Involved
Fidelity® Emerging Markets Equity Central Fund	2024	$	2,228,628	$	1,785,959,647

Fund	Twelve Month Period Ended		$ Amount of Commissions Allocated for Research or Brokerage Services
Fidelity® Emerging Markets Equity Central Fund	June 30, 2024	$	630,599

Fund		Capital Loss Carryforward (CLC)
Fidelity® Emerging Markets Equity Central Fund	$	236,343,024

COMMITTEE	NUMBER OF MEETINGS HELD
Operations Committee	10
Fair Value Oversight Committee	5
Equity I Committee	6
Equity II Committee	6
Shareholder, Distribution, Brokerage, and Proxy Voting Committee	7
Audit Committee	4
Governance and Nominating Committee	10
Compliance Committee	5
Research Committee	6

DOLLAR RANGE OF FUND SHARES	BETTINA DOULTON	ROBERT A LAWRENCE
Fidelity® Emerging Markets Equity Central Fund	none	none
AGGREGATE DOLLAR RANGE OF FUND SHARES IN ALL FUNDS OVERSEEN WITHIN FUND FAMILY	over $100,000	over $100,000

DOLLAR RANGE OF FUND SHARES	VIJAY ADVANI	THOMAS P BOSTICK	DONALD F DONAHUE	VICKI L FULLER
Fidelity® Emerging Markets Equity Central Fund	none	none	none	none
AGGREGATE DOLLAR RANGE OF FUND SHARES IN ALL FUNDS OVERSEEN WITHIN FUND FAMILY	over $100,000	over $100,000	over $100,000	over $100,000

DOLLAR RANGE OF FUND SHARES	PATRICIA L KAMPLING	THOMAS A KENNEDY	OSCAR MUNOZ	KAREN PEETZ
Fidelity® Emerging Markets Equity Central Fund	none	none	none	none
AGGREGATE DOLLAR RANGE OF FUND SHARES IN ALL FUNDS OVERSEEN WITHIN FUND FAMILY	over $100,000	over $100,000	none	over $100,000

DOLLAR RANGE OF FUND SHARES	DAVID M THOMAS	SUSAN TOMASKY	MICHAEL E WILEY
Fidelity® Emerging Markets Equity Central Fund	none	none	none
AGGREGATE DOLLAR RANGE OF FUND SHARES IN ALL FUNDS OVERSEEN WITHIN FUND FAMILY	over $100,000	over $100,000	over $100,000

			AGGREGATE COMPENSATION FROM A FUND		ACCRUED VOLUNTARY DEFERRED COMPENSATION FROM A FUND
Fidelity® Emerging Markets Equity Central Fund	VIJAY ADVANI(B)	$	591	$	0
	THOMAS P BOSTICK	$	602	$	0
	DONALD F DONAHUE	$	648	$	0
	VICKI L FULLER	$	602	$	0
	PATRICIA L KAMPLING	$	602	$	0
	THOMAS A KENNEDY	$	602	$	0
	OSCAR MUNOZ	$	591	$	0
	KAREN PEETZ(C)	$	591	$	0
	DAVID M THOMAS	$	705	$	0
	SUSAN TOMASKY	$	602	$	0
	MICHAEL E WILEY	$	636	$	0

(A) Bettina Doulton, Robert A. Lawrence, and Peter S. Lynch are interested persons and are compensated by Fidelity.

(B) Mr. Advani serves as a Trustee of Fidelity Central Investment Portfolios LLC effective August 1, 2023.

(C) Ms. Peetz served as a Member of the Advisory Board of Fidelity Central Investment Portfolios LLC from August 1, 2023 through July 15, 2024. Ms. Peetz serves as a Trustee of Fidelity Central Investment Portfolios LLC effective July 16, 2024.

			TOTAL COMPENSATION FROM THE FUND COMPLEX(A)		VOLUNTARY DEFERRED COMPENSATION FROM THE FUND COMPLEX
	VIJAY ADVANI	$	216,667	$	128,708
	THOMAS P BOSTICK	$	530,000	$	120,000
	DONALD F DONAHUE	$	570,000	$	336,252
	VICKI L FULLER	$	530,000	$	150,000
	PATRICIA L KAMPLING	$	530,000	$	0
	THOMAS A KENNEDY	$	530,000	$	156,083
	OSCAR MUNOZ	$	520,000	$	0
	KAREN PEETZ	$	216,667	$	128,708
	DAVID M THOMAS	$	620,000	$	0
	SUSAN TOMASKY	$	530,000	$	180,000
	MICHAEL E WILEY	$	560,000	$	0

(A) Reflects compensation received for the calendar year ended December 31, 2023, for 322 funds of 30 trusts (including Fidelity Central Investment Portfolios LLC). Compensation figures include cash and may include amounts elected to be deferred.

	Registered Investment Companies*		Other Pooled Investment Vehicles		Other Accounts
Number of Accounts Managed	12		3		1
Number of Accounts Managed with Performance-Based Advisory Fees	1		none		none
Assets Managed (in millions)	$36,376		$1,899		$396
Assets Managed with Performance-Based Advisory Fees (in millions)	$412		none		none

	Registered Investment Companies*		Other Pooled Investment Vehicles		Other Accounts
Number of Accounts Managed	3		3		none
Number of Accounts Managed with Performance-Based Advisory Fees	none		none		none
Assets Managed (in millions)	$6,172		$1,869		none
Assets Managed with Performance-Based Advisory Fees (in millions)	none		none		none

	Registered Investment Companies*		Other Pooled Investment Vehicles		Other Accounts
Number of Accounts Managed	2		3		none
Number of Accounts Managed with Performance-Based Advisory Fees	none		none		none
Assets Managed (in millions)	$4,108		$1,229		none
Assets Managed with Performance-Based Advisory Fees (in millions)	none		none		none

	Registered Investment Companies*		Other Pooled Investment Vehicles		Other Accounts
Number of Accounts Managed	2		3		none
Number of Accounts Managed with Performance-Based Advisory Fees	none		none		none
Assets Managed (in millions)	$439		$133		none
Assets Managed with Performance-Based Advisory Fees (in millions)	none		none		none

	Registered Investment Companies*		Other Pooled Investment Vehicles		Other Accounts
Number of Accounts Managed	3		11		none
Number of Accounts Managed with Performance-Based Advisory Fees	none		none		none
Assets Managed (in millions)	$5,350		$3,017		none
Assets Managed with Performance-Based Advisory Fees (in millions)	none		none		none

	Registered Investment Companies*		Other Pooled Investment Vehicles		Other Accounts
Number of Accounts Managed	2		3		none
Number of Accounts Managed with Performance-Based Advisory Fees	none		none		none
Assets Managed (in millions)	$884		$294		none
Assets Managed with Performance-Based Advisory Fees (in millions)	none		none		none

	Registered Investment Companies*		Other Pooled Investment Vehicles		Other Accounts
Number of Accounts Managed	7		11		2
Number of Accounts Managed with Performance-Based Advisory Fees	1		none		none
Assets Managed (in millions)	$14,786		$5,907		$364
Assets Managed with Performance-Based Advisory Fees (in millions)	$110		none		none

	Registered Investment Companies*		Other Pooled Investment Vehicles		Other Accounts
Number of Accounts Managed	2		3		none
Number of Accounts Managed with Performance-Based Advisory Fees	none		none		none
Assets Managed (in millions)	$5,974		$1,869		none
Assets Managed with Performance-Based Advisory Fees (in millions)	none		none		none

	Registered Investment Companies*		Other Pooled Investment Vehicles		Other Accounts
Number of Accounts Managed	3		3		none
Number of Accounts Managed with Performance-Based Advisory Fees	none		none		none
Assets Managed (in millions)	$6,491		$1,899		none
Assets Managed with Performance-Based Advisory Fees (in millions)	none		none		none

	Registered Investment Companies*		Other Pooled Investment Vehicles		Other Accounts
Number of Accounts Managed	4		5		none
Number of Accounts Managed with Performance-Based Advisory Fees	1		none		none
Assets Managed (in millions)	$4,371		$1,165		none
Assets Managed with Performance-Based Advisory Fees (in millions)	$1,046		none		none

Fidelity Proxy Voting Guidelines

I. Introduction These guidelines are intended to help Fidelity's customers and the companies in which Fidelity invests understand how Fidelity votes proxies to further the values that have sustained Fidelity for over 75 years. Our core principles sit at the heart of our voting philosophy; putting our customers' and fund shareholders' long-term interests first and investing in companies that share our approach to creating value over the long-term guides everything we do. Fidelity generally adheres to these guidelines in voting proxies and our Stewardship Principles serve as the foundation for these guidelines. Our evaluation of proxies reflects information from many sources, including management or shareholders of a company presenting a proposal and proxy voting advisory firms. Fidelity maintains the flexibility to vote individual proxies based on our assessment of each situation. In evaluating proxies, Fidelity considers factors that are financially material to individual companies and investing funds' investment objectives and strategies in support of maximizing long-term shareholder value. This includes considering the company's approach to financial and operational, human, and natural capital and the impact of that approach on the potential future value of the business. Fidelity will vote on proposals not specifically addressed by these guidelines based on an evaluation of a proposal's likelihood to enhance the long-term economic returns or profitability of the company or to maximize long-term shareholder value. Fidelity will not be influenced by business relationships or outside perspectives that may conflict with the interests of the funds and their shareholders. II. Board of Directors and Corporate Governance Directors of public companies play a critical role in ensuring that a company and its management team serve the interests of its shareholders. Fidelity believes that through proxy voting, it can help ensure accountability of management teams and boards of directors, align management and shareholder interests, and monitor and assess the degree of transparency and disclosure with respect to executive compensation and board actions affecting shareholders' rights. The following general guidelines are intended to reflect these proxy voting principles. A. Election of Directors Fidelity will generally support director nominees in elections where all directors are unopposed (uncontested elections), except where board composition raises concerns, and/or where a director clearly appears to have failed to exercise reasonable judgment or otherwise failed to sufficiently protect the interests of shareholders. Fidelity will evaluate board composition and generally will oppose the election of certain or all directors if, by way of example: 1. The board is not composed of a majority of independent directors. 2. The board's audit, compensation, and nominating/governance committees or their equivalents are not sufficiently independent. 3. There is no gender diversity on the board, or if a board of ten or more members has fewer than two gender diverse directors. 4. There are no racially or ethnically diverse directors on the board. 5. The director is a public company CEO who sits on more than two unaffiliated public company boards. 6. The director, other than a CEO, sits on more than five unaffiliated public company boards. 7. The director attended fewer than 75% of the total number of meetings of the board and its committees on which the director served during the company's prior fiscal year, absent extenuating circumstances. While Fidelity generally considers the requirements of the relevant listing standards in determining director, board, and committee independence, we may apply more stringent independence criteria and adapt such criteria for certain foreign markets, taking into consideration listing requirements as well as differing laws, regulation, and/or practices in the relevant market. For example, Fidelity generally will find non-independent 1. Former CEOs. 2. Company founders. 3. Directors or director family members that were employed as senior executives by the company within the past five years. Fidelity also may evaluate financial relationships, equity ownership, and voting rights in assessing the independence of director nominees. In addition, Fidelity will evaluate board actions and generally will oppose the election of certain or all directors if, by way of example: 1. The company made a commitment to modify a proposal or practice to conform to these guidelines, and failed to act on that commitment. 2. For reasons described below under the sections entitled Compensation and Anti-Takeover Provisions and Director Elections. B. Contested Director Elections On occasion, directors are forced to compete for election against outside director nominees (contested elections). Fidelity believes that strong management creates long-term shareholder value. As a result, Fidelity generally will vote in support of management of companies in which the funds' assets are invested. Fidelity will vote its proxy on a case-by-case basis in a contested election, taking into consideration a number of factors, amongst others: 1. Management's track record and strategic plan for enhancing shareholder value; 2. The long-term performance of the company compared to its industry peers; and 3. The qualifications of the shareholder's and management's nominees. Fidelity will vote for the outcome it believes has the best prospects for maximizing shareholder value over the long-term. C. Cumulative Voting Rights Under cumulative voting, each shareholder may exercise the number of votes equal to the number of shares owned multiplied by the number of directors up for election. Shareholders may cast all of their votes for a single nominee (or multiple nominees in varying amounts). With regular (non-cumulative) voting, by contrast, shareholders cannot allocate more than one vote per share to any one director nominee. Fidelity believes that cumulative voting can be detrimental to the overall strength of a board. Generally, therefore, Fidelity will oppose the introduction of, and support the elimination of, cumulative voting rights. D. Classified Boards A classified board is one that elects only a percentage of its members each year (usually one-third of directors are elected to serve a three-year term). This means that at each annual meeting only a subset of directors is up for re-election. Fidelity believes that, in general, classified boards are not as accountable to shareholders as declassified boards. For this and other reasons, Fidelity generally will oppose a board's adoption of a classified board structure and support declassification of existing boards. E. Independent Chairperson In general, Fidelity believes that boards should have a process and criteria for selecting the board chair, and will oppose shareholder proposals calling for, or recommending the appointment of, a non-executive or independent chairperson. If, however, based on particular facts and circumstances, Fidelity believes that appointment of a non-executive or independent chairperson appears likely to further the interests of shareholders and promote effective oversight of management by the board of directors, Fidelity will consider voting to support a proposal for an independent chairperson under such circumstances. F. Majority Voting in Director Elections In general, Fidelity supports proposals calling for directors to be elected by a majority of votes cast if the proposal permits election by a plurality in the case of contested elections (where, for example, there are more nominees than board seats). Fidelity may oppose a majority voting shareholder proposal where a company's board has adopted a policy requiring the resignation of an incumbent director who fails to receive the support of a majority of the votes cast in an uncontested election. G. Proxy Access Proxy access proposals generally require a company to amend its by-laws to allow a qualifying shareholder or group of shareholders to nominate directors on a company's proxy ballot. Fidelity believes that certain safeguards as to ownership threshold and duration of ownership are important to assure that proxy access is not misused by those without a significant economic interest in the company or those driven by short term goals. Fidelity will evaluate proxy access proposals on a case-by-case basis, but generally will support proposals that include ownership of at least 3% (5% in the case of small-cap companies) of the company's shares outstanding for at least three years; limit the number of directors that eligible shareholders may nominate to 20% of the board; and limit to 20 the number of shareholders that may form a nominating group. H. Indemnification of Directors and Officers In many instances there are sound reasons to indemnify officers and directors, so that they may perform their duties without the distraction of unwarranted litigation or other legal process. Fidelity generally supports charter and by-law amendments expanding the indemnification of officers or directors, or limiting their liability for breaches of care unless Fidelity is dissatisfied with their performance or the proposal is accompanied by anti-takeover provisions (see Anti-Takeover Provisions and Shareholders Rights Plans below). III. Compensation Incentive compensation plans can be complicated and many factors are considered when evaluating such plans. Fidelity evaluates such plans based on protecting shareholder interests and our historical knowledge of the company and its management. A. Equity Compensation Plans Fidelity encourages the use of reasonably designed equity compensation plans that align the interest of management with those of shareholders by providing officers and employees with incentives to increase long-term shareholder value. Fidelity considers whether such plans are too dilutive to existing shareholders because dilution reduces the voting power or economic interest of existing shareholders as a result of an increase in shares available for distribution to employees in lieu of cash compensation. Fidelity will generally oppose equity compensation plans or amendments to authorize additional shares under such plans if: 1. The company grants stock options and equity awards in a given year at a rate higher than a benchmark rate ("burn rate") considered appropriate by Fidelity and there were no circumstances specific to the company or the compensation plans that leads Fidelity to conclude that the rate of awards is otherwise acceptable. 2. The plan includes an evergreen provision, which is a feature that provides for an automatic increase in the shares available for grant under an equity compensation plan on a regular basis. 3. The plan provides for the acceleration of vesting of equity compensation even though an actual change in control may not occur. As to stock option plans, considerations include the following: 1. Pricing: We believe that options should be priced at 100% of fair market value on the date they are granted. We generally oppose options priced at a discount to the market, although the price may be as low as 85% of fair market value if the discount is expressly granted in lieu of salary or cash bonus. 2. Re-pricing: An "out-of-the-money" (or underwater) option has an exercise price that is higher than the current price of the stock. We generally oppose the re-pricing of underwater options because it is not consistent with a policy of offering options as a form of long-term compensation. Fidelity also generally opposes a stock option plan if the board or compensation committee has re-priced options outstanding in the past two years without shareholder approval. Fidelity generally will support a management proposal to exchange, re-price or tender for cash, outstanding options if the proposed exchange, re-pricing, or tender offer is consistent with the interests of shareholders, taking into account a variety of factors such as: 1. Whether the proposal excludes senior management and directors; 2. Whether the exchange or re-pricing proposal is value neutral to shareholders based upon an acceptable pricing model; 3. The company's relative performance compared to other companies within the relevant industry or industries; 4. Economic and other conditions affecting the relevant industry or industries in which the company competes; and 5. Any other facts or circumstances relevant to determining whether an exchange or re-pricing proposal is consistent with the interests of shareholders. B. Employee Stock Purchase Plans These plans are designed to allow employees to purchase company stock at a discounted price and receive favorable tax treatment when the stock is sold. Fidelity generally will support employee stock purchase plans if the minimum stock purchase price is equal to or greater than 85% (or at least 75% in the case of non-U.S. companies where a lower minimum stock purchase price is equal to the prevailing "best practices" in that market) of the stock's fair market value and the plan constitutes a reasonable effort to encourage broad based participation in the company's stock. IV. Advisory Vote on Executive Compensation (Say on Pay) and Frequency of Say on Pay Vote Current law requires companies to allow shareholders to cast non-binding votes on the compensation for named executive officers, as well as the frequency of such votes. Fidelity generally will support proposals to ratify executive compensation unless the compensation appears misaligned with shareholder interests or is otherwise problematic, taking into account: - The actions taken by the board or compensation committee in the previous year, including whether the company re-priced or exchanged outstanding stock options without shareholder approval; adopted or extended a golden parachute without shareholder approval; or adequately addressed concerns communicated by Fidelity in the process of discussing executive compensation; - The alignment of executive compensation and company performance relative to peers; and - The structure of the compensation program, including factors such as whether incentive plan metrics are appropriate, rigorous and transparent; whether the long-term element of the compensation program is evaluated over at least a three-year period; the sensitivity of pay to below median performance; the amount and nature of non-performance-based compensation; the justification and rationale behind paying discretionary bonuses; the use of stock ownership guidelines and amount of executive stock ownership; and how well elements of compensation are disclosed. When presented with a frequency of Say on Pay vote, Fidelity generally will support holding an annual advisory vote on Say on Pay. A. Compensation Committee Directors serving on the compensation committee of the Board have a special responsibility to ensure that management is appropriately compensated and that compensation, among other things, fairly reflects the performance of the company. Fidelity believes that compensation should align with company performance as measured by key business metrics. Compensation policies should align the interests of executives with those of shareholders. Further, the compensation program should be disclosed in a transparent and timely manner. Fidelity will oppose the election of directors on the compensation committee if: 1.The compensation appears misaligned with shareholder interests or is otherwise problematic and results in concerns with: a)The alignment of executive compensation and company performance relative to peers; and b)The structure of the compensation program, including factors outlined above under the section entitled Advisory Vote on Executive Compensation (Say on Pay) and Frequency of Say on Pay Vote. 2. The company has not adequately addressed concerns communicated by Fidelity in the process of discussing executive compensation. 3. Within the last year, and without shareholder approval, a company's board of directors or compensation committee has either: a) Re-priced outstanding options, exchanged outstanding options for equity, or tendered cash for outstanding options; or b) Adopted or extended a golden parachute. B. Executive Severance Agreements Executive severance compensation and benefit arrangements resulting from a termination following a change in control are known as "golden parachutes." Fidelity generally will oppose proposals to ratify golden parachutes where the arrangement includes an excise tax gross-up provision; single trigger for cash incentives; or may result in a lump sum payment of cash and acceleration of equity that may total more than three times annual compensation (salary and bonus) in the event of a termination following a change in control. V. Natural and Human Capital Issues As part of our efforts to maximize long-term shareholder value, we incorporate consideration of human and natural capital issues into our evaluation of a company if our research has demonstrated an issue is financially material to that company and the investing funds' investment objectives and strategies. Fidelity generally considers management's recommendation and current practice when voting on shareholder proposals concerning human and natural capital issues because it generally believes that management and the board are in the best position to determine how to address these matters. Fidelity, however, also believes that transparency is critical to sound corporate governance. Fidelity evaluates shareholder proposals concerning natural and human capital topics. To engage and vote more effectively on the growing number of submitted proposals on these topics, we developed a four-point decision-making framework. In general, Fidelity will more likely support proposals that: •Address a topic that our research has identified as financially material; •Provide disclosure of new or additional information to investors without being overly prescriptive; •Provide valuable information to the business or investors by improving the landscape of investment-decision relevant information or contributing to our understanding of a company's processes and governance of the topic in question; and •Are realistic or practical for the company to comply with. VI. Anti-Takeover Provisions and Shareholders Rights Plans Fidelity generally will oppose a proposal to adopt an anti-takeover provision. Anti-takeover provisions include: - classified boards; - "blank check" preferred stock (whose terms and conditions may be expressly determined by the company's board, for example, with differential voting rights); - golden parachutes; - supermajority provisions (that require a large majority (generally between 67-90%) of shareholders to approve corporate changes as compared to a majority provision that simply requires more than 50% of shareholders to approve those changes); - poison pills; - provisions restricting the right to call special meetings; - provisions restricting the right of shareholders to set board size; and - any other provision that eliminates or limits shareholder rights. A. Shareholders Rights Plans ("poison pills") Poison pills allow shareholders opposed to a takeover offer to purchase stock at discounted prices under certain circumstances and effectively give boards veto power over any takeover offer. While there are advantages and disadvantages to poison pills, they can be detrimental to the creation of shareholder value and can help entrench management by deterring acquisition offers not favored by the board, but that may, in fact, be beneficial to shareholders. Fidelity generally will support a proposal to adopt or extend a poison pill if the proposal: 1. Includes a condition in the charter or plan that specifies an expiration date (sunset provision) of no greater than five years; 2. Is integral to a business strategy that is expected to result in greater value for the shareholders; 3. Requires shareholder approval to be reinstated upon expiration or if amended; 4. Contains a mechanism to allow shareholders to consider a bona fide takeover offer for all outstanding shares without triggering the poison pill; and 5. Allows the Fidelity funds to hold an aggregate position of up to 20% of a company's total voting securities, where permissible. Fidelity generally also will support a proposal that is crafted only for the purpose of protecting a specific tax benefit if it also believes the proposal is likely to enhance long-term economic returns or maximize long-term shareholder value. B. Shareholder Ability to Call a Special Meeting Fidelity generally will support shareholder proposals regarding shareholders' right to call special meetings if the threshold required to call the special meeting is no less than 25% of the outstanding stock. C. Shareholder Ability to Act by Written Consent Fidelity generally will support proposals regarding shareholders' right to act by written consent if the proposals include appropriate mechanisms for implementation. This means that proposals must include record date requests from at least 25% of the outstanding stockholders and consents must be solicited from all shareholders. D. Supermajority Shareholder Vote Requirement Fidelity generally will support proposals regarding supermajority provisions if Fidelity believes that the provisions protect minority shareholder interests in companies where there is a substantial or dominant shareholder. VII. Anti-Takeover Provisions and Director Elections Fidelity will oppose the election of all directors or directors on responsible committees if the board adopted or extended an anti-takeover provision without shareholder approval. Fidelity will consider supporting the election of directors with respect to poison pills if: - All of the poison pill's features outlined under the Anti-Takeover Provisions and Shareholders Rights section above are met when a poison pill is adopted or extended. - A board is willing to consider seeking shareholder ratification of, or adding the features outlined under the Anti-Takeover Provisions and Shareholders Rights Plans section above to, an existing poison pill. If, however, the company does not take appropriate action prior to the next annual shareholder meeting, Fidelity will oppose the election of all directors at that meeting. - It determines that the poison pill was narrowly tailored to protect a specific tax benefit, and subject to an evaluation of its likelihood to enhance long-term economic returns or maximize long-term shareholder value. VIII. Capital Structure and Incorporation These guidelines are designed to protect shareholders' value in the companies in which the Fidelity funds invest. To the extent a company's management is committed and incentivized to maximize shareholder value, Fidelity generally votes in favor of management proposals; Fidelity may vote contrary to management where a proposal is overly dilutive to shareholders and/or compromises shareholder value or other interests. The guidelines that follow are meant to protect shareholders in these respects. A. Increases in Common Stock Fidelity may support reasonable increases in authorized shares for a specific purpose (a stock split or re-capitalization, for example). Fidelity generally will oppose a provision to increase a company's authorized common stock if such increase will result in a total number of authorized shares greater than three times the current number of outstanding and scheduled to be issued shares, including stock options. In the case of real estate investment trusts (REITs), however, Fidelity will oppose a provision to increase the REIT's authorized common stock if the increase will result in a total number of authorized shares greater than five times the current number of outstanding and scheduled to be issued shares. B. Multi-Class Share Structures Fidelity generally will support proposals to recapitalize multi-class share structures into structures that provide equal voting rights for all shareholders, and generally will oppose proposals to introduce or increase classes of stock with differential voting rights. However, Fidelity will evaluate all such proposals in the context of their likelihood to enhance long-term economic returns or maximize long-term shareholder value. C. Incorporation or Reincorporation in another State or Country Fidelity generally will support management proposals calling for, or recommending that, a company reincorporate in another state or country if, on balance, the economic and corporate governance factors in the proposed jurisdiction appear reasonably likely to be better aligned with shareholder interests, taking into account the corporate laws of the current and proposed jurisdictions and any changes to the company's current and proposed governing documents. Fidelity will consider supporting these shareholder proposals in limited cases if, based upon particular facts and circumstances, remaining incorporated in the current jurisdiction appears misaligned with shareholder interests. IX. Shares of Fidelity Funds or other non-Fidelity Funds When a Fidelity fund invests in an underlying Fidelity fund with public shareholders or a non-Fidelity investment company or business development company, Fidelity will generally vote in the same proportion as all other voting shareholders of the underlying fund (this is known as "echo voting"). Fidelity may not vote if "echo voting" is not operationally practical or not permitted under applicable laws and regulations. For Fidelity fund investments in a Fidelity Series Fund, Fidelity generally will vote in a manner consistent with the recommendation of the Fidelity Series Fund's Board of Trustees on all proposals, except where not permitted under applicable laws and regulations. X. Foreign Markets Many Fidelity funds invest in voting securities issued by companies that are domiciled outside the United States and are not listed on a U.S. securities exchange. Corporate governance standards, legal or regulatory requirements and disclosure practices in foreign countries can differ from those in the United States. When voting proxies relating to non-U.S. securities, Fidelity generally will evaluate proposals under these guidelines and where applicable and feasible, take into consideration differing laws, regulations and practices in the relevant foreign market in determining how to vote shares. In certain non-U.S. jurisdictions, shareholders voting shares of a company may be restricted from trading the shares for a period of time around the shareholder meeting date. Because these trading restrictions can hinder portfolio management and could result in a loss of liquidity for a fund, Fidelity generally will not vote proxies in circumstances where such restrictions apply. In addition, certain non-U.S. jurisdictions require voting shareholders to disclose current share ownership on a fund-by-fund basis. When such disclosure requirements apply, Fidelity generally will not vote proxies in order to safeguard fund holdings information. XI. Securities on Loan Securities on loan as of a record date cannot be voted. In certain circumstances, Fidelity may recall a security on loan before record date (for example, in a particular contested director election or a noteworthy merger or acquisition). Generally, however, securities out on loan remain on loan and are not voted because, for example, the income a fund derives from the loan outweighs the benefit the fund receives from voting the security. In addition, Fidelity may not be able to recall and vote loaned securities if Fidelity is unaware of relevant information before record date, or is otherwise unable to timely recall securities on loan. XII. Compliance with Legal Obligations and Avoiding Conflicts of Interest Voting of shares is conducted in a manner consistent with Fidelity's fiduciary obligations to the funds and all applicable laws and regulations. In other words, Fidelity votes in a manner consistent with these guidelines and in the best interests of the funds and their shareholders, and without regard to any other Fidelity companies' business relationships. Fidelity takes its responsibility to vote shares in the best interests of the funds seriously and has implemented policies and procedures to address actual and potential conflicts of interest. XIII. Conclusion Since its founding more than 75 years ago, Fidelity has been driven by two fundamental values: 1) putting the long-term interests of our customers and fund shareholders first; and 2) investing in companies that share our approach to creating value over the long-term. With these fundamental principles as guideposts, the funds are managed to provide the greatest possible return to shareholders consistent with governing laws and the investment guidelines and objectives of each fund. Fidelity believes that there is a strong correlation between sound corporate governance and enhancing shareholder value. Fidelity, through the implementation of these guidelines, puts this belief into action through consistent engagement with portfolio companies on matters contained in these guidelines, and, ultimately, through the exercise of voting rights by the funds. Glossary Burn rate means the total number of stock option and full value equity awards granted as compensation in a given year divided by the weighted average common stock outstanding for that same year. - For a large-capitalization company, burn rate higher than 1.5%. - For a small-capitalization company, burn rate higher than 2.5%. - For a micro-capitalization company, burn rate higher than 3.5%. Golden parachute means employment contracts, agreements, or policies that include an excise tax gross-up provision; single trigger for cash incentives; or may result in a lump sum payment of cash and acceleration of equity that may total more than three times annual compensation (salary and bonus) in the event of a termination following a change in control. Large-capitalization company means a company included in the Russell 1000® Index or the Russell Global ex-U.S. Large Cap Index. Micro-capitalization company means a company with market capitalization under US $300 million. Poison pill refers to a strategy employed by a potential takeover / target company to make its stock less attractive to an acquirer. Poison pills are generally designed to dilute the acquirer's ownership and value in the event of a takeover. Small-capitalization company means a company not included in the Russell 1000® Index or the Russell Global ex-U.S. Large Cap Index that is not a Micro-Capitalization Company.

To view a fund's proxy voting record for the most recent 12-month period ended June 30, if applicable, visit www.fidelity.com/proxyvotingresults or visit the SEC's web site at www.sec.gov. To request a free copy of a fund's proxy voting record, please call Fidelity at the telephone number listed on the front cover page of this SAI.

Security Lending Activities		Fund(s)
		Fidelity® Emerging Markets Equity Central Fund
Gross income from securities lending activities	$	758,781
Fees paid to securities lending agent from a revenue split	$	0
Administrative fees	$	0
Rebate (paid to borrower)	$	579,994
Other fees not included in the revenue split (lending agent fees to NFS)	$	17,105
Aggregate fees/compensation for securities lending activities	$	597,099
Net income from securities lending activities	$	161,682

Fidelity® Floating Rate Central Fund

TABLE OF CONTENTS

INVESTMENT POLICIES AND LIMITATIONS

PORTFOLIO TRANSACTIONS

VALUATION

BUYING AND SELLING INFORMATION

DISTRIBUTIONS AND TAXES

DIRECTORS AND OFFICERS (TRUSTEES AND OFFICERS)

CONTROL OF INVESTMENT ADVISERS

MANAGEMENT CONTRACT

PROXY VOTING GUIDELINES

TRANSFER AND SERVICE AGENT SERVICES

SECURITIES LENDING

DESCRIPTION OF THE COMPANY

FUND HOLDINGS INFORMATION

FINANCIAL STATEMENTS

APPENDIX

Turnover Rates	2024	2023
Fidelity® Floating Rate Central Fund	50%	24%

Fund	Regular Broker or Dealer		Aggregate Value of Securities Held
Fidelity® Floating Rate Central Fund	JP Morgan Securities	$	1,164,465

Fund	Fiscal Year Ended		Dollar Amount	Percentage of Average Net Assets
Fidelity® Floating Rate Central Fund	2024	$	668	0.00%
	2023	$	3,033	0.00%
	2022	$	737	0.00%

Fund(s)	Fiscal Year Ended	Broker	Affiliated With	C	ommissions	Percentage of Aggregate Brokerage Commissions	Percentage of Aggregate Dollar Amount of Brokerage Transactions
Fidelity® Floating Rate Central Fund	2024	FCM	FMR LLC	$	1	0.15%	0.25%
	2024	Kezar Trading	FMR LLC	$	0	0.00%	0.00%
	2023	FCM	FMR LLC	$	19
	2023	Kezar Trading	FMR LLC	$	0
	2022	FCM	FMR LLC	$	133
	2022	Kezar Trading	FMR LLC	$	0

Fund	Fiscal Year Ended		$ Amount of Commissions Paid to Firms for Providing Research or Brokerage Services		$ Amount of Brokerage Transactions Involved
Fidelity® Floating Rate Central Fund	2024	$	648	$	1,936,310

Fund	Twelve Month Period Ended		$ Amount of Commissions Allocated for Research or Brokerage Services
Fidelity® Floating Rate Central Fund	June 30, 2024	$	285

Fund		Capital Loss Carryforward (CLC)
Fidelity® Floating Rate Central Fund	$	122,201,450

COMMITTEE	NUMBER OF MEETINGS HELD
Operations Committee	10
Fair Value Oversight Committee	5
Equity I Committee	6
Equity II Committee	6
Shareholder, Distribution, Brokerage, and Proxy Voting Committee	7
Audit Committee	4
Governance and Nominating Committee	10
Compliance Committee	5
Research Committee	6

DOLLAR RANGE OF FUND SHARES	BETTINA DOULTON	ROBERT A LAWRENCE
Fidelity® Floating Rate Central Fund	none	none
AGGREGATE DOLLAR RANGE OF FUND SHARES IN ALL FUNDS OVERSEEN WITHIN FUND FAMILY	over $100,000	over $100,000

DOLLAR RANGE OF FUND SHARES	VIJAY ADVANI	THOMAS P BOSTICK	DONALD F DONAHUE	VICKI L FULLER
Fidelity® Floating Rate Central Fund	none	none	none	none
AGGREGATE DOLLAR RANGE OF FUND SHARES IN ALL FUNDS OVERSEEN WITHIN FUND FAMILY	over $100,000	over $100,000	over $100,000	over $100,000

DOLLAR RANGE OF FUND SHARES	PATRICIA L KAMPLING	THOMAS A KENNEDY	OSCAR MUNOZ	KAREN PEETZ
Fidelity® Floating Rate Central Fund	none	none	none	none
AGGREGATE DOLLAR RANGE OF FUND SHARES IN ALL FUNDS OVERSEEN WITHIN FUND FAMILY	over $100,000	over $100,000	none	over $100,000

DOLLAR RANGE OF FUND SHARES	DAVID M THOMAS	SUSAN TOMASKY	MICHAEL E WILEY
Fidelity® Floating Rate Central Fund	none	none	none
AGGREGATE DOLLAR RANGE OF FUND SHARES IN ALL FUNDS OVERSEEN WITHIN FUND FAMILY	over $100,000	over $100,000	over $100,000

			AGGREGATE COMPENSATION FROM A FUND		ACCRUED VOLUNTARY DEFERRED COMPENSATION FROM A FUND
Fidelity® Floating Rate Central Fund	VIJAY ADVANI(B)	$	381	$	0
	THOMAS P BOSTICK	$	388	$	0
	DONALD F DONAHUE	$	417	$	0
	VICKI L FULLER	$	388	$	0
	PATRICIA L KAMPLING	$	388	$	0
	THOMAS A KENNEDY	$	388	$	0
	OSCAR MUNOZ	$	381	$	0
	KAREN PEETZ(C)	$	381	$	0
	DAVID M THOMAS	$	454	$	0
	SUSAN TOMASKY	$	388	$	0
	MICHAEL E WILEY	$	410	$	0

(A) Bettina Doulton, Robert A. Lawrence, and Peter S. Lynch are interested persons and are compensated by Fidelity.

(B) Mr. Advani serves as a Trustee of Fidelity Central Investment Portfolios LLC effective August 1, 2023.

(C) Ms. Peetz served as a Member of the Advisory Board of Fidelity Central Investment Portfolios LLC from August 1, 2023 through July 15, 2024. Ms. Peetz serves as a Trustee of Fidelity Central Investment Portfolios LLC effective July 16, 2024.

			TOTAL COMPENSATION FROM THE FUND COMPLEX(A)		VOLUNTARY DEFERRED COMPENSATION FROM THE FUND COMPLEX
	VIJAY ADVANI	$	216,667	$	128,708
	THOMAS P BOSTICK	$	530,000	$	120,000
	DONALD F DONAHUE	$	570,000	$	336,252
	VICKI L FULLER	$	530,000	$	150,000
	PATRICIA L KAMPLING	$	530,000	$	0
	THOMAS A KENNEDY	$	530,000	$	156,083
	OSCAR MUNOZ	$	520,000	$	0
	KAREN PEETZ	$	216,667	$	128,708
	DAVID M THOMAS	$	620,000	$	0
	SUSAN TOMASKY	$	530,000	$	180,000
	MICHAEL E WILEY	$	560,000	$	0

(A) Reflects compensation received for the calendar year ended December 31, 2023, for 322 funds of 30 trusts (including Fidelity Central Investment Portfolios LLC). Compensation figures include cash and may include amounts elected to be deferred.

	Registered Investment Companies*		Other Pooled Investment Vehicles		Other Accounts
Number of Accounts Managed	14		6		25
Number of Accounts Managed with Performance-Based Advisory Fees	none		none		none
Assets Managed (in millions)	$20,620		$2,380		$10,105
Assets Managed with Performance-Based Advisory Fees (in millions)	none		none		none

	Registered Investment Companies*		Other Pooled Investment Vehicles		Other Accounts
Number of Accounts Managed	13		6		25
Number of Accounts Managed with Performance-Based Advisory Fees	none		none		none
Assets Managed (in millions)	$20,373		$2,560		$10,105
Assets Managed with Performance-Based Advisory Fees (in millions)	none		none		none

	Registered Investment Companies*		Other Pooled Investment Vehicles		Other Accounts
Number of Accounts Managed	13		8		25
Number of Accounts Managed with Performance-Based Advisory Fees	none		none		none
Assets Managed (in millions)	$20,374		$2,590		$10,105
Assets Managed with Performance-Based Advisory Fees (in millions)	none		none		none

Fidelity Proxy Voting Guidelines

I. Introduction These guidelines are intended to help Fidelity's customers and the companies in which Fidelity invests understand how Fidelity votes proxies to further the values that have sustained Fidelity for over 75 years. Our core principles sit at the heart of our voting philosophy; putting our customers' and fund shareholders' long-term interests first and investing in companies that share our approach to creating value over the long-term guides everything we do. Fidelity generally adheres to these guidelines in voting proxies and our Stewardship Principles serve as the foundation for these guidelines. Our evaluation of proxies reflects information from many sources, including management or shareholders of a company presenting a proposal and proxy voting advisory firms. Fidelity maintains the flexibility to vote individual proxies based on our assessment of each situation. In evaluating proxies, Fidelity considers factors that are financially material to individual companies and investing funds' investment objectives and strategies in support of maximizing long-term shareholder value. This includes considering the company's approach to financial and operational, human, and natural capital and the impact of that approach on the potential future value of the business. Fidelity will vote on proposals not specifically addressed by these guidelines based on an evaluation of a proposal's likelihood to enhance the long-term economic returns or profitability of the company or to maximize long-term shareholder value. Fidelity will not be influenced by business relationships or outside perspectives that may conflict with the interests of the funds and their shareholders. II. Board of Directors and Corporate Governance Directors of public companies play a critical role in ensuring that a company and its management team serve the interests of its shareholders. Fidelity believes that through proxy voting, it can help ensure accountability of management teams and boards of directors, align management and shareholder interests, and monitor and assess the degree of transparency and disclosure with respect to executive compensation and board actions affecting shareholders' rights. The following general guidelines are intended to reflect these proxy voting principles. A. Election of Directors Fidelity will generally support director nominees in elections where all directors are unopposed (uncontested elections), except where board composition raises concerns, and/or where a director clearly appears to have failed to exercise reasonable judgment or otherwise failed to sufficiently protect the interests of shareholders. Fidelity will evaluate board composition and generally will oppose the election of certain or all directors if, by way of example: 1. The board is not composed of a majority of independent directors. 2. The board's audit, compensation, and nominating/governance committees or their equivalents are not sufficiently independent. 3. There is no gender diversity on the board, or if a board of ten or more members has fewer than two gender diverse directors. 4. There are no racially or ethnically diverse directors on the board. 5. The director is a public company CEO who sits on more than two unaffiliated public company boards. 6. The director, other than a CEO, sits on more than five unaffiliated public company boards. 7. The director attended fewer than 75% of the total number of meetings of the board and its committees on which the director served during the company's prior fiscal year, absent extenuating circumstances. While Fidelity generally considers the requirements of the relevant listing standards in determining director, board, and committee independence, we may apply more stringent independence criteria and adapt such criteria for certain foreign markets, taking into consideration listing requirements as well as differing laws, regulation, and/or practices in the relevant market. For example, Fidelity generally will find non-independent 1. Former CEOs. 2. Company founders. 3. Directors or director family members that were employed as senior executives by the company within the past five years. Fidelity also may evaluate financial relationships, equity ownership, and voting rights in assessing the independence of director nominees. In addition, Fidelity will evaluate board actions and generally will oppose the election of certain or all directors if, by way of example: 1. The company made a commitment to modify a proposal or practice to conform to these guidelines, and failed to act on that commitment. 2. For reasons described below under the sections entitled Compensation and Anti-Takeover Provisions and Director Elections. B. Contested Director Elections On occasion, directors are forced to compete for election against outside director nominees (contested elections). Fidelity believes that strong management creates long-term shareholder value. As a result, Fidelity generally will vote in support of management of companies in which the funds' assets are invested. Fidelity will vote its proxy on a case-by-case basis in a contested election, taking into consideration a number of factors, amongst others: 1. Management's track record and strategic plan for enhancing shareholder value; 2. The long-term performance of the company compared to its industry peers; and 3. The qualifications of the shareholder's and management's nominees. Fidelity will vote for the outcome it believes has the best prospects for maximizing shareholder value over the long-term. C. Cumulative Voting Rights Under cumulative voting, each shareholder may exercise the number of votes equal to the number of shares owned multiplied by the number of directors up for election. Shareholders may cast all of their votes for a single nominee (or multiple nominees in varying amounts). With regular (non-cumulative) voting, by contrast, shareholders cannot allocate more than one vote per share to any one director nominee. Fidelity believes that cumulative voting can be detrimental to the overall strength of a board. Generally, therefore, Fidelity will oppose the introduction of, and support the elimination of, cumulative voting rights. D. Classified Boards A classified board is one that elects only a percentage of its members each year (usually one-third of directors are elected to serve a three-year term). This means that at each annual meeting only a subset of directors is up for re-election. Fidelity believes that, in general, classified boards are not as accountable to shareholders as declassified boards. For this and other reasons, Fidelity generally will oppose a board's adoption of a classified board structure and support declassification of existing boards. E. Independent Chairperson In general, Fidelity believes that boards should have a process and criteria for selecting the board chair, and will oppose shareholder proposals calling for, or recommending the appointment of, a non-executive or independent chairperson. If, however, based on particular facts and circumstances, Fidelity believes that appointment of a non-executive or independent chairperson appears likely to further the interests of shareholders and promote effective oversight of management by the board of directors, Fidelity will consider voting to support a proposal for an independent chairperson under such circumstances. F. Majority Voting in Director Elections In general, Fidelity supports proposals calling for directors to be elected by a majority of votes cast if the proposal permits election by a plurality in the case of contested elections (where, for example, there are more nominees than board seats). Fidelity may oppose a majority voting shareholder proposal where a company's board has adopted a policy requiring the resignation of an incumbent director who fails to receive the support of a majority of the votes cast in an uncontested election. G. Proxy Access Proxy access proposals generally require a company to amend its by-laws to allow a qualifying shareholder or group of shareholders to nominate directors on a company's proxy ballot. Fidelity believes that certain safeguards as to ownership threshold and duration of ownership are important to assure that proxy access is not misused by those without a significant economic interest in the company or those driven by short term goals. Fidelity will evaluate proxy access proposals on a case-by-case basis, but generally will support proposals that include ownership of at least 3% (5% in the case of small-cap companies) of the company's shares outstanding for at least three years; limit the number of directors that eligible shareholders may nominate to 20% of the board; and limit to 20 the number of shareholders that may form a nominating group. H. Indemnification of Directors and Officers In many instances there are sound reasons to indemnify officers and directors, so that they may perform their duties without the distraction of unwarranted litigation or other legal process. Fidelity generally supports charter and by-law amendments expanding the indemnification of officers or directors, or limiting their liability for breaches of care unless Fidelity is dissatisfied with their performance or the proposal is accompanied by anti-takeover provisions (see Anti-Takeover Provisions and Shareholders Rights Plans below). III. Compensation Incentive compensation plans can be complicated and many factors are considered when evaluating such plans. Fidelity evaluates such plans based on protecting shareholder interests and our historical knowledge of the company and its management. A. Equity Compensation Plans Fidelity encourages the use of reasonably designed equity compensation plans that align the interest of management with those of shareholders by providing officers and employees with incentives to increase long-term shareholder value. Fidelity considers whether such plans are too dilutive to existing shareholders because dilution reduces the voting power or economic interest of existing shareholders as a result of an increase in shares available for distribution to employees in lieu of cash compensation. Fidelity will generally oppose equity compensation plans or amendments to authorize additional shares under such plans if: 1. The company grants stock options and equity awards in a given year at a rate higher than a benchmark rate ("burn rate") considered appropriate by Fidelity and there were no circumstances specific to the company or the compensation plans that leads Fidelity to conclude that the rate of awards is otherwise acceptable. 2. The plan includes an evergreen provision, which is a feature that provides for an automatic increase in the shares available for grant under an equity compensation plan on a regular basis. 3. The plan provides for the acceleration of vesting of equity compensation even though an actual change in control may not occur. As to stock option plans, considerations include the following: 1. Pricing: We believe that options should be priced at 100% of fair market value on the date they are granted. We generally oppose options priced at a discount to the market, although the price may be as low as 85% of fair market value if the discount is expressly granted in lieu of salary or cash bonus. 2. Re-pricing: An "out-of-the-money" (or underwater) option has an exercise price that is higher than the current price of the stock. We generally oppose the re-pricing of underwater options because it is not consistent with a policy of offering options as a form of long-term compensation. Fidelity also generally opposes a stock option plan if the board or compensation committee has re-priced options outstanding in the past two years without shareholder approval. Fidelity generally will support a management proposal to exchange, re-price or tender for cash, outstanding options if the proposed exchange, re-pricing, or tender offer is consistent with the interests of shareholders, taking into account a variety of factors such as: 1. Whether the proposal excludes senior management and directors; 2. Whether the exchange or re-pricing proposal is value neutral to shareholders based upon an acceptable pricing model; 3. The company's relative performance compared to other companies within the relevant industry or industries; 4. Economic and other conditions affecting the relevant industry or industries in which the company competes; and 5. Any other facts or circumstances relevant to determining whether an exchange or re-pricing proposal is consistent with the interests of shareholders. B. Employee Stock Purchase Plans These plans are designed to allow employees to purchase company stock at a discounted price and receive favorable tax treatment when the stock is sold. Fidelity generally will support employee stock purchase plans if the minimum stock purchase price is equal to or greater than 85% (or at least 75% in the case of non-U.S. companies where a lower minimum stock purchase price is equal to the prevailing "best practices" in that market) of the stock's fair market value and the plan constitutes a reasonable effort to encourage broad based participation in the company's stock. IV. Advisory Vote on Executive Compensation (Say on Pay) and Frequency of Say on Pay Vote Current law requires companies to allow shareholders to cast non-binding votes on the compensation for named executive officers, as well as the frequency of such votes. Fidelity generally will support proposals to ratify executive compensation unless the compensation appears misaligned with shareholder interests or is otherwise problematic, taking into account: - The actions taken by the board or compensation committee in the previous year, including whether the company re-priced or exchanged outstanding stock options without shareholder approval; adopted or extended a golden parachute without shareholder approval; or adequately addressed concerns communicated by Fidelity in the process of discussing executive compensation; - The alignment of executive compensation and company performance relative to peers; and - The structure of the compensation program, including factors such as whether incentive plan metrics are appropriate, rigorous and transparent; whether the long-term element of the compensation program is evaluated over at least a three-year period; the sensitivity of pay to below median performance; the amount and nature of non-performance-based compensation; the justification and rationale behind paying discretionary bonuses; the use of stock ownership guidelines and amount of executive stock ownership; and how well elements of compensation are disclosed. When presented with a frequency of Say on Pay vote, Fidelity generally will support holding an annual advisory vote on Say on Pay. A. Compensation Committee Directors serving on the compensation committee of the Board have a special responsibility to ensure that management is appropriately compensated and that compensation, among other things, fairly reflects the performance of the company. Fidelity believes that compensation should align with company performance as measured by key business metrics. Compensation policies should align the interests of executives with those of shareholders. Further, the compensation program should be disclosed in a transparent and timely manner. Fidelity will oppose the election of directors on the compensation committee if: 1.The compensation appears misaligned with shareholder interests or is otherwise problematic and results in concerns with: a)The alignment of executive compensation and company performance relative to peers; and b)The structure of the compensation program, including factors outlined above under the section entitled Advisory Vote on Executive Compensation (Say on Pay) and Frequency of Say on Pay Vote. 2. The company has not adequately addressed concerns communicated by Fidelity in the process of discussing executive compensation. 3. Within the last year, and without shareholder approval, a company's board of directors or compensation committee has either: a) Re-priced outstanding options, exchanged outstanding options for equity, or tendered cash for outstanding options; or b) Adopted or extended a golden parachute. B. Executive Severance Agreements Executive severance compensation and benefit arrangements resulting from a termination following a change in control are known as "golden parachutes." Fidelity generally will oppose proposals to ratify golden parachutes where the arrangement includes an excise tax gross-up provision; single trigger for cash incentives; or may result in a lump sum payment of cash and acceleration of equity that may total more than three times annual compensation (salary and bonus) in the event of a termination following a change in control. V. Natural and Human Capital Issues As part of our efforts to maximize long-term shareholder value, we incorporate consideration of human and natural capital issues into our evaluation of a company if our research has demonstrated an issue is financially material to that company and the investing funds' investment objectives and strategies. Fidelity generally considers management's recommendation and current practice when voting on shareholder proposals concerning human and natural capital issues because it generally believes that management and the board are in the best position to determine how to address these matters. Fidelity, however, also believes that transparency is critical to sound corporate governance. Fidelity evaluates shareholder proposals concerning natural and human capital topics. To engage and vote more effectively on the growing number of submitted proposals on these topics, we developed a four-point decision-making framework. In general, Fidelity will more likely support proposals that: •Address a topic that our research has identified as financially material; •Provide disclosure of new or additional information to investors without being overly prescriptive; •Provide valuable information to the business or investors by improving the landscape of investment-decision relevant information or contributing to our understanding of a company's processes and governance of the topic in question; and •Are realistic or practical for the company to comply with. VI. Anti-Takeover Provisions and Shareholders Rights Plans Fidelity generally will oppose a proposal to adopt an anti-takeover provision. Anti-takeover provisions include: - classified boards; - "blank check" preferred stock (whose terms and conditions may be expressly determined by the company's board, for example, with differential voting rights); - golden parachutes; - supermajority provisions (that require a large majority (generally between 67-90%) of shareholders to approve corporate changes as compared to a majority provision that simply requires more than 50% of shareholders to approve those changes); - poison pills; - provisions restricting the right to call special meetings; - provisions restricting the right of shareholders to set board size; and - any other provision that eliminates or limits shareholder rights. A. Shareholders Rights Plans ("poison pills") Poison pills allow shareholders opposed to a takeover offer to purchase stock at discounted prices under certain circumstances and effectively give boards veto power over any takeover offer. While there are advantages and disadvantages to poison pills, they can be detrimental to the creation of shareholder value and can help entrench management by deterring acquisition offers not favored by the board, but that may, in fact, be beneficial to shareholders. Fidelity generally will support a proposal to adopt or extend a poison pill if the proposal: 1. Includes a condition in the charter or plan that specifies an expiration date (sunset provision) of no greater than five years; 2. Is integral to a business strategy that is expected to result in greater value for the shareholders; 3. Requires shareholder approval to be reinstated upon expiration or if amended; 4. Contains a mechanism to allow shareholders to consider a bona fide takeover offer for all outstanding shares without triggering the poison pill; and 5. Allows the Fidelity funds to hold an aggregate position of up to 20% of a company's total voting securities, where permissible. Fidelity generally also will support a proposal that is crafted only for the purpose of protecting a specific tax benefit if it also believes the proposal is likely to enhance long-term economic returns or maximize long-term shareholder value. B. Shareholder Ability to Call a Special Meeting Fidelity generally will support shareholder proposals regarding shareholders' right to call special meetings if the threshold required to call the special meeting is no less than 25% of the outstanding stock. C. Shareholder Ability to Act by Written Consent Fidelity generally will support proposals regarding shareholders' right to act by written consent if the proposals include appropriate mechanisms for implementation. This means that proposals must include record date requests from at least 25% of the outstanding stockholders and consents must be solicited from all shareholders. D. Supermajority Shareholder Vote Requirement Fidelity generally will support proposals regarding supermajority provisions if Fidelity believes that the provisions protect minority shareholder interests in companies where there is a substantial or dominant shareholder. VII. Anti-Takeover Provisions and Director Elections Fidelity will oppose the election of all directors or directors on responsible committees if the board adopted or extended an anti-takeover provision without shareholder approval. Fidelity will consider supporting the election of directors with respect to poison pills if: - All of the poison pill's features outlined under the Anti-Takeover Provisions and Shareholders Rights section above are met when a poison pill is adopted or extended. - A board is willing to consider seeking shareholder ratification of, or adding the features outlined under the Anti-Takeover Provisions and Shareholders Rights Plans section above to, an existing poison pill. If, however, the company does not take appropriate action prior to the next annual shareholder meeting, Fidelity will oppose the election of all directors at that meeting. - It determines that the poison pill was narrowly tailored to protect a specific tax benefit, and subject to an evaluation of its likelihood to enhance long-term economic returns or maximize long-term shareholder value. VIII. Capital Structure and Incorporation These guidelines are designed to protect shareholders' value in the companies in which the Fidelity funds invest. To the extent a company's management is committed and incentivized to maximize shareholder value, Fidelity generally votes in favor of management proposals; Fidelity may vote contrary to management where a proposal is overly dilutive to shareholders and/or compromises shareholder value or other interests. The guidelines that follow are meant to protect shareholders in these respects. A. Increases in Common Stock Fidelity may support reasonable increases in authorized shares for a specific purpose (a stock split or re-capitalization, for example). Fidelity generally will oppose a provision to increase a company's authorized common stock if such increase will result in a total number of authorized shares greater than three times the current number of outstanding and scheduled to be issued shares, including stock options. In the case of real estate investment trusts (REITs), however, Fidelity will oppose a provision to increase the REIT's authorized common stock if the increase will result in a total number of authorized shares greater than five times the current number of outstanding and scheduled to be issued shares. B. Multi-Class Share Structures Fidelity generally will support proposals to recapitalize multi-class share structures into structures that provide equal voting rights for all shareholders, and generally will oppose proposals to introduce or increase classes of stock with differential voting rights. However, Fidelity will evaluate all such proposals in the context of their likelihood to enhance long-term economic returns or maximize long-term shareholder value. C. Incorporation or Reincorporation in another State or Country Fidelity generally will support management proposals calling for, or recommending that, a company reincorporate in another state or country if, on balance, the economic and corporate governance factors in the proposed jurisdiction appear reasonably likely to be better aligned with shareholder interests, taking into account the corporate laws of the current and proposed jurisdictions and any changes to the company's current and proposed governing documents. Fidelity will consider supporting these shareholder proposals in limited cases if, based upon particular facts and circumstances, remaining incorporated in the current jurisdiction appears misaligned with shareholder interests. IX. Shares of Fidelity Funds or other non-Fidelity Funds When a Fidelity fund invests in an underlying Fidelity fund with public shareholders or a non-Fidelity investment company or business development company, Fidelity will generally vote in the same proportion as all other voting shareholders of the underlying fund (this is known as "echo voting"). Fidelity may not vote if "echo voting" is not operationally practical or not permitted under applicable laws and regulations. For Fidelity fund investments in a Fidelity Series Fund, Fidelity generally will vote in a manner consistent with the recommendation of the Fidelity Series Fund's Board of Trustees on all proposals, except where not permitted under applicable laws and regulations. X. Foreign Markets Many Fidelity funds invest in voting securities issued by companies that are domiciled outside the United States and are not listed on a U.S. securities exchange. Corporate governance standards, legal or regulatory requirements and disclosure practices in foreign countries can differ from those in the United States. When voting proxies relating to non-U.S. securities, Fidelity generally will evaluate proposals under these guidelines and where applicable and feasible, take into consideration differing laws, regulations and practices in the relevant foreign market in determining how to vote shares. In certain non-U.S. jurisdictions, shareholders voting shares of a company may be restricted from trading the shares for a period of time around the shareholder meeting date. Because these trading restrictions can hinder portfolio management and could result in a loss of liquidity for a fund, Fidelity generally will not vote proxies in circumstances where such restrictions apply. In addition, certain non-U.S. jurisdictions require voting shareholders to disclose current share ownership on a fund-by-fund basis. When such disclosure requirements apply, Fidelity generally will not vote proxies in order to safeguard fund holdings information. XI. Securities on Loan Securities on loan as of a record date cannot be voted. In certain circumstances, Fidelity may recall a security on loan before record date (for example, in a particular contested director election or a noteworthy merger or acquisition). Generally, however, securities out on loan remain on loan and are not voted because, for example, the income a fund derives from the loan outweighs the benefit the fund receives from voting the security. In addition, Fidelity may not be able to recall and vote loaned securities if Fidelity is unaware of relevant information before record date, or is otherwise unable to timely recall securities on loan. XII. Compliance with Legal Obligations and Avoiding Conflicts of Interest Voting of shares is conducted in a manner consistent with Fidelity's fiduciary obligations to the funds and all applicable laws and regulations. In other words, Fidelity votes in a manner consistent with these guidelines and in the best interests of the funds and their shareholders, and without regard to any other Fidelity companies' business relationships. Fidelity takes its responsibility to vote shares in the best interests of the funds seriously and has implemented policies and procedures to address actual and potential conflicts of interest. XIII. Conclusion Since its founding more than 75 years ago, Fidelity has been driven by two fundamental values: 1) putting the long-term interests of our customers and fund shareholders first; and 2) investing in companies that share our approach to creating value over the long-term. With these fundamental principles as guideposts, the funds are managed to provide the greatest possible return to shareholders consistent with governing laws and the investment guidelines and objectives of each fund. Fidelity believes that there is a strong correlation between sound corporate governance and enhancing shareholder value. Fidelity, through the implementation of these guidelines, puts this belief into action through consistent engagement with portfolio companies on matters contained in these guidelines, and, ultimately, through the exercise of voting rights by the funds. Glossary Burn rate means the total number of stock option and full value equity awards granted as compensation in a given year divided by the weighted average common stock outstanding for that same year. - For a large-capitalization company, burn rate higher than 1.5%. - For a small-capitalization company, burn rate higher than 2.5%. - For a micro-capitalization company, burn rate higher than 3.5%. Golden parachute means employment contracts, agreements, or policies that include an excise tax gross-up provision; single trigger for cash incentives; or may result in a lump sum payment of cash and acceleration of equity that may total more than three times annual compensation (salary and bonus) in the event of a termination following a change in control. Large-capitalization company means a company included in the Russell 1000® Index or the Russell Global ex-U.S. Large Cap Index. Micro-capitalization company means a company with market capitalization under US $300 million. Poison pill refers to a strategy employed by a potential takeover / target company to make its stock less attractive to an acquirer. Poison pills are generally designed to dilute the acquirer's ownership and value in the event of a takeover. Small-capitalization company means a company not included in the Russell 1000® Index or the Russell Global ex-U.S. Large Cap Index that is not a Micro-Capitalization Company.

To view a fund's proxy voting record for the most recent 12-month period ended June 30, if applicable, visit www.fidelity.com/proxyvotingresults or visit the SEC's web site at www.sec.gov. To request a free copy of a fund's proxy voting record, please call Fidelity at the telephone number listed on the front cover page of this SAI.

Security Lending Activities		Fund(s)
		Fidelity® Floating Rate Central Fund
Gross income from securities lending activities	$	315,964
Fees paid to securities lending agent from a revenue split	$	0
Administrative fees	$	0
Rebate (paid to borrower)	$	304,836
Other fees not included in the revenue split (lending agent fees to NFS)	$	1,049
Aggregate fees/compensation for securities lending activities	$	305,886
Net income from securities lending activities	$	10,078

Fidelity® Real Estate Equity Central Fund

TABLE OF CONTENTS

INVESTMENT POLICIES AND LIMITATIONS

PORTFOLIO TRANSACTIONS

VALUATION

BUYING AND SELLING INFORMATION

DISTRIBUTIONS AND TAXES

DIRECTORS AND OFFICERS (TRUSTEES AND OFFICERS)

CONTROL OF INVESTMENT ADVISERS

MANAGEMENT CONTRACT

PROXY VOTING GUIDELINES

TRANSFER AND SERVICE AGENT SERVICES

SECURITIES LENDING

DESCRIPTION OF THE COMPANY

FUND HOLDINGS INFORMATION

FINANCIAL STATEMENTS

APPENDIX

Turnover Rates	2024	2023
Fidelity® Real Estate Equity Central Fund	39%	44%

Fund	Fiscal Year Ended		Dollar Amount	Percentage of Average Net Assets
Fidelity® Real Estate Equity Central Fund	2024	$	236,740	0.02%
	2023	$	387,388	0.04%
	2022	$	725,240	0.05%

Fund(s)	Fiscal Year Ended	Broker	Affiliated With	C	ommissions	Percentage of Aggregate Brokerage Commissions	Percentage of Aggregate Dollar Amount of Brokerage Transactions
Fidelity® Real Estate Equity Central Fund	2024	FCM(A)	FMR LLC	$	5,353	2.26%	6.25%
	2024	Kezar Trading	FMR LLC	$	1,207	0.51%	1.07%
	2023	FCM	FMR LLC	$	6,195
	2023	Kezar Trading	FMR LLC	$	2,204
	2022	FCM	FMR LLC	$	11,877
	2022	Kezar Trading	FMR LLC	$	2,977

Fund	Fiscal Year Ended		$ Amount of Commissions Paid to Firms for Providing Research or Brokerage Services		$ Amount of Brokerage Transactions Involved
Fidelity® Real Estate Equity Central Fund	2024	$	170,244	$	560,762,715

Fund	Twelve Month Period Ended		$ Amount of Commissions Allocated for Research or Brokerage Services
Fidelity® Real Estate Equity Central Fund	June 30, 2024	$	36,438

Fund		Capital Loss Carryforward (CLC)
Fidelity® Real Estate Equity Central Fund	$	81,668,825

COMMITTEE	NUMBER OF MEETINGS HELD
Operations Committee	10
Fair Value Oversight Committee	5
Equity I Committee	6
Equity II Committee	6
Shareholder, Distribution, Brokerage, and Proxy Voting Committee	7
Audit Committee	4
Governance and Nominating Committee	10
Compliance Committee	5
Research Committee	6

DOLLAR RANGE OF FUND SHARES	BETTINA DOULTON	ROBERT A LAWRENCE
Fidelity® Real Estate Equity Central Fund	none	none
AGGREGATE DOLLAR RANGE OF FUND SHARES IN ALL FUNDS OVERSEEN WITHIN FUND FAMILY	over $100,000	over $100,000

DOLLAR RANGE OF FUND SHARES	VIJAY ADVANI	THOMAS P BOSTICK	DONALD F DONAHUE	VICKI L FULLER
Fidelity® Real Estate Equity Central Fund	none	none	none	none
AGGREGATE DOLLAR RANGE OF FUND SHARES IN ALL FUNDS OVERSEEN WITHIN FUND FAMILY	over $100,000	over $100,000	over $100,000	over $100,000

DOLLAR RANGE OF FUND SHARES	PATRICIA L KAMPLING	THOMAS A KENNEDY	OSCAR MUNOZ	KAREN PEETZ
Fidelity® Real Estate Equity Central Fund	none	none	none	none
AGGREGATE DOLLAR RANGE OF FUND SHARES IN ALL FUNDS OVERSEEN WITHIN FUND FAMILY	over $100,000	over $100,000	none	over $100,000

DOLLAR RANGE OF FUND SHARES	DAVID M THOMAS	SUSAN TOMASKY	MICHAEL E WILEY
Fidelity® Real Estate Equity Central Fund	none	none	none
AGGREGATE DOLLAR RANGE OF FUND SHARES IN ALL FUNDS OVERSEEN WITHIN FUND FAMILY	over $100,000	over $100,000	over $100,000

			AGGREGATE COMPENSATION FROM A FUND		ACCRUED VOLUNTARY DEFERRED COMPENSATION FROM A FUND
Fidelity® Real Estate Equity Central Fund	VIJAY ADVANI(B)	$	247	$	0
	THOMAS P BOSTICK	$	251	$	0
	DONALD F DONAHUE	$	270	$	0
	VICKI L FULLER	$	251	$	0
	PATRICIA L KAMPLING	$	251	$	0
	THOMAS A KENNEDY	$	251	$	0
	OSCAR MUNOZ	$	247	$	0
	KAREN PEETZ(C)	$	247	$	0
	DAVID M THOMAS	$	294	$	0
	SUSAN TOMASKY	$	251	$	0
	MICHAEL E WILEY	$	265	$	0

(A) Bettina Doulton, Robert A. Lawrence, and Peter S. Lynch are interested persons and are compensated by Fidelity.

(B) Mr. Advani serves as a Trustee of Fidelity Central Investment Portfolios LLC effective August 1, 2023.

(C) Ms. Peetz served as a Member of the Advisory Board of Fidelity Central Investment Portfolios LLC from August 1, 2023 through July 15, 2024. Ms. Peetz serves as a Trustee of Fidelity Central Investment Portfolios LLC effective July 16, 2024.

			TOTAL COMPENSATION FROM THE FUND COMPLEX(A)		VOLUNTARY DEFERRED COMPENSATION FROM THE FUND COMPLEX
	VIJAY ADVANI	$	216,667	$	128,708
	THOMAS P BOSTICK	$	530,000	$	120,000
	DONALD F DONAHUE	$	570,000	$	336,252
	VICKI L FULLER	$	530,000	$	150,000
	PATRICIA L KAMPLING	$	530,000	$	0
	THOMAS A KENNEDY	$	530,000	$	156,083
	OSCAR MUNOZ	$	520,000	$	0
	KAREN PEETZ	$	216,667	$	128,708
	DAVID M THOMAS	$	620,000	$	0
	SUSAN TOMASKY	$	530,000	$	180,000
	MICHAEL E WILEY	$	560,000	$	0

(A) Reflects compensation received for the calendar year ended December 31, 2023, for 322 funds of 30 trusts (including Fidelity Central Investment Portfolios LLC). Compensation figures include cash and may include amounts elected to be deferred.

	Registered Investment Companies*		Other Pooled Investment Vehicles		Other Accounts
Number of Accounts Managed	7		11		3
Number of Accounts Managed with Performance-Based Advisory Fees	2		none		none
Assets Managed (in millions)	$5,169		$1,832		$650
Assets Managed with Performance-Based Advisory Fees (in millions)	$336		none		none

Fidelity Proxy Voting Guidelines

I. Introduction These guidelines are intended to help Fidelity's customers and the companies in which Fidelity invests understand how Fidelity votes proxies to further the values that have sustained Fidelity for over 75 years. Our core principles sit at the heart of our voting philosophy; putting our customers' and fund shareholders' long-term interests first and investing in companies that share our approach to creating value over the long-term guides everything we do. Fidelity generally adheres to these guidelines in voting proxies and our Stewardship Principles serve as the foundation for these guidelines. Our evaluation of proxies reflects information from many sources, including management or shareholders of a company presenting a proposal and proxy voting advisory firms. Fidelity maintains the flexibility to vote individual proxies based on our assessment of each situation. In evaluating proxies, Fidelity considers factors that are financially material to individual companies and investing funds' investment objectives and strategies in support of maximizing long-term shareholder value. This includes considering the company's approach to financial and operational, human, and natural capital and the impact of that approach on the potential future value of the business. Fidelity will vote on proposals not specifically addressed by these guidelines based on an evaluation of a proposal's likelihood to enhance the long-term economic returns or profitability of the company or to maximize long-term shareholder value. Fidelity will not be influenced by business relationships or outside perspectives that may conflict with the interests of the funds and their shareholders. II. Board of Directors and Corporate Governance Directors of public companies play a critical role in ensuring that a company and its management team serve the interests of its shareholders. Fidelity believes that through proxy voting, it can help ensure accountability of management teams and boards of directors, align management and shareholder interests, and monitor and assess the degree of transparency and disclosure with respect to executive compensation and board actions affecting shareholders' rights. The following general guidelines are intended to reflect these proxy voting principles. A. Election of Directors Fidelity will generally support director nominees in elections where all directors are unopposed (uncontested elections), except where board composition raises concerns, and/or where a director clearly appears to have failed to exercise reasonable judgment or otherwise failed to sufficiently protect the interests of shareholders. Fidelity will evaluate board composition and generally will oppose the election of certain or all directors if, by way of example: 1. The board is not composed of a majority of independent directors. 2. The board's audit, compensation, and nominating/governance committees or their equivalents are not sufficiently independent. 3. There is no gender diversity on the board, or if a board of ten or more members has fewer than two gender diverse directors. 4. There are no racially or ethnically diverse directors on the board. 5. The director is a public company CEO who sits on more than two unaffiliated public company boards. 6. The director, other than a CEO, sits on more than five unaffiliated public company boards. 7. The director attended fewer than 75% of the total number of meetings of the board and its committees on which the director served during the company's prior fiscal year, absent extenuating circumstances. While Fidelity generally considers the requirements of the relevant listing standards in determining director, board, and committee independence, we may apply more stringent independence criteria and adapt such criteria for certain foreign markets, taking into consideration listing requirements as well as differing laws, regulation, and/or practices in the relevant market. For example, Fidelity generally will find non-independent 1. Former CEOs. 2. Company founders. 3. Directors or director family members that were employed as senior executives by the company within the past five years. Fidelity also may evaluate financial relationships, equity ownership, and voting rights in assessing the independence of director nominees. In addition, Fidelity will evaluate board actions and generally will oppose the election of certain or all directors if, by way of example: 1. The company made a commitment to modify a proposal or practice to conform to these guidelines, and failed to act on that commitment. 2. For reasons described below under the sections entitled Compensation and Anti-Takeover Provisions and Director Elections. B. Contested Director Elections On occasion, directors are forced to compete for election against outside director nominees (contested elections). Fidelity believes that strong management creates long-term shareholder value. As a result, Fidelity generally will vote in support of management of companies in which the funds' assets are invested. Fidelity will vote its proxy on a case-by-case basis in a contested election, taking into consideration a number of factors, amongst others: 1. Management's track record and strategic plan for enhancing shareholder value; 2. The long-term performance of the company compared to its industry peers; and 3. The qualifications of the shareholder's and management's nominees. Fidelity will vote for the outcome it believes has the best prospects for maximizing shareholder value over the long-term. C. Cumulative Voting Rights Under cumulative voting, each shareholder may exercise the number of votes equal to the number of shares owned multiplied by the number of directors up for election. Shareholders may cast all of their votes for a single nominee (or multiple nominees in varying amounts). With regular (non-cumulative) voting, by contrast, shareholders cannot allocate more than one vote per share to any one director nominee. Fidelity believes that cumulative voting can be detrimental to the overall strength of a board. Generally, therefore, Fidelity will oppose the introduction of, and support the elimination of, cumulative voting rights. D. Classified Boards A classified board is one that elects only a percentage of its members each year (usually one-third of directors are elected to serve a three-year term). This means that at each annual meeting only a subset of directors is up for re-election. Fidelity believes that, in general, classified boards are not as accountable to shareholders as declassified boards. For this and other reasons, Fidelity generally will oppose a board's adoption of a classified board structure and support declassification of existing boards. E. Independent Chairperson In general, Fidelity believes that boards should have a process and criteria for selecting the board chair, and will oppose shareholder proposals calling for, or recommending the appointment of, a non-executive or independent chairperson. If, however, based on particular facts and circumstances, Fidelity believes that appointment of a non-executive or independent chairperson appears likely to further the interests of shareholders and promote effective oversight of management by the board of directors, Fidelity will consider voting to support a proposal for an independent chairperson under such circumstances. F. Majority Voting in Director Elections In general, Fidelity supports proposals calling for directors to be elected by a majority of votes cast if the proposal permits election by a plurality in the case of contested elections (where, for example, there are more nominees than board seats). Fidelity may oppose a majority voting shareholder proposal where a company's board has adopted a policy requiring the resignation of an incumbent director who fails to receive the support of a majority of the votes cast in an uncontested election. G. Proxy Access Proxy access proposals generally require a company to amend its by-laws to allow a qualifying shareholder or group of shareholders to nominate directors on a company's proxy ballot. Fidelity believes that certain safeguards as to ownership threshold and duration of ownership are important to assure that proxy access is not misused by those without a significant economic interest in the company or those driven by short term goals. Fidelity will evaluate proxy access proposals on a case-by-case basis, but generally will support proposals that include ownership of at least 3% (5% in the case of small-cap companies) of the company's shares outstanding for at least three years; limit the number of directors that eligible shareholders may nominate to 20% of the board; and limit to 20 the number of shareholders that may form a nominating group. H. Indemnification of Directors and Officers In many instances there are sound reasons to indemnify officers and directors, so that they may perform their duties without the distraction of unwarranted litigation or other legal process. Fidelity generally supports charter and by-law amendments expanding the indemnification of officers or directors, or limiting their liability for breaches of care unless Fidelity is dissatisfied with their performance or the proposal is accompanied by anti-takeover provisions (see Anti-Takeover Provisions and Shareholders Rights Plans below). III. Compensation Incentive compensation plans can be complicated and many factors are considered when evaluating such plans. Fidelity evaluates such plans based on protecting shareholder interests and our historical knowledge of the company and its management. A. Equity Compensation Plans Fidelity encourages the use of reasonably designed equity compensation plans that align the interest of management with those of shareholders by providing officers and employees with incentives to increase long-term shareholder value. Fidelity considers whether such plans are too dilutive to existing shareholders because dilution reduces the voting power or economic interest of existing shareholders as a result of an increase in shares available for distribution to employees in lieu of cash compensation. Fidelity will generally oppose equity compensation plans or amendments to authorize additional shares under such plans if: 1. The company grants stock options and equity awards in a given year at a rate higher than a benchmark rate ("burn rate") considered appropriate by Fidelity and there were no circumstances specific to the company or the compensation plans that leads Fidelity to conclude that the rate of awards is otherwise acceptable. 2. The plan includes an evergreen provision, which is a feature that provides for an automatic increase in the shares available for grant under an equity compensation plan on a regular basis. 3. The plan provides for the acceleration of vesting of equity compensation even though an actual change in control may not occur. As to stock option plans, considerations include the following: 1. Pricing: We believe that options should be priced at 100% of fair market value on the date they are granted. We generally oppose options priced at a discount to the market, although the price may be as low as 85% of fair market value if the discount is expressly granted in lieu of salary or cash bonus. 2. Re-pricing: An "out-of-the-money" (or underwater) option has an exercise price that is higher than the current price of the stock. We generally oppose the re-pricing of underwater options because it is not consistent with a policy of offering options as a form of long-term compensation. Fidelity also generally opposes a stock option plan if the board or compensation committee has re-priced options outstanding in the past two years without shareholder approval. Fidelity generally will support a management proposal to exchange, re-price or tender for cash, outstanding options if the proposed exchange, re-pricing, or tender offer is consistent with the interests of shareholders, taking into account a variety of factors such as: 1. Whether the proposal excludes senior management and directors; 2. Whether the exchange or re-pricing proposal is value neutral to shareholders based upon an acceptable pricing model; 3. The company's relative performance compared to other companies within the relevant industry or industries; 4. Economic and other conditions affecting the relevant industry or industries in which the company competes; and 5. Any other facts or circumstances relevant to determining whether an exchange or re-pricing proposal is consistent with the interests of shareholders. B. Employee Stock Purchase Plans These plans are designed to allow employees to purchase company stock at a discounted price and receive favorable tax treatment when the stock is sold. Fidelity generally will support employee stock purchase plans if the minimum stock purchase price is equal to or greater than 85% (or at least 75% in the case of non-U.S. companies where a lower minimum stock purchase price is equal to the prevailing "best practices" in that market) of the stock's fair market value and the plan constitutes a reasonable effort to encourage broad based participation in the company's stock. IV. Advisory Vote on Executive Compensation (Say on Pay) and Frequency of Say on Pay Vote Current law requires companies to allow shareholders to cast non-binding votes on the compensation for named executive officers, as well as the frequency of such votes. Fidelity generally will support proposals to ratify executive compensation unless the compensation appears misaligned with shareholder interests or is otherwise problematic, taking into account: - The actions taken by the board or compensation committee in the previous year, including whether the company re-priced or exchanged outstanding stock options without shareholder approval; adopted or extended a golden parachute without shareholder approval; or adequately addressed concerns communicated by Fidelity in the process of discussing executive compensation; - The alignment of executive compensation and company performance relative to peers; and - The structure of the compensation program, including factors such as whether incentive plan metrics are appropriate, rigorous and transparent; whether the long-term element of the compensation program is evaluated over at least a three-year period; the sensitivity of pay to below median performance; the amount and nature of non-performance-based compensation; the justification and rationale behind paying discretionary bonuses; the use of stock ownership guidelines and amount of executive stock ownership; and how well elements of compensation are disclosed. When presented with a frequency of Say on Pay vote, Fidelity generally will support holding an annual advisory vote on Say on Pay. A. Compensation Committee Directors serving on the compensation committee of the Board have a special responsibility to ensure that management is appropriately compensated and that compensation, among other things, fairly reflects the performance of the company. Fidelity believes that compensation should align with company performance as measured by key business metrics. Compensation policies should align the interests of executives with those of shareholders. Further, the compensation program should be disclosed in a transparent and timely manner. Fidelity will oppose the election of directors on the compensation committee if: 1.The compensation appears misaligned with shareholder interests or is otherwise problematic and results in concerns with: a)The alignment of executive compensation and company performance relative to peers; and b)The structure of the compensation program, including factors outlined above under the section entitled Advisory Vote on Executive Compensation (Say on Pay) and Frequency of Say on Pay Vote. 2. The company has not adequately addressed concerns communicated by Fidelity in the process of discussing executive compensation. 3. Within the last year, and without shareholder approval, a company's board of directors or compensation committee has either: a) Re-priced outstanding options, exchanged outstanding options for equity, or tendered cash for outstanding options; or b) Adopted or extended a golden parachute. B. Executive Severance Agreements Executive severance compensation and benefit arrangements resulting from a termination following a change in control are known as "golden parachutes." Fidelity generally will oppose proposals to ratify golden parachutes where the arrangement includes an excise tax gross-up provision; single trigger for cash incentives; or may result in a lump sum payment of cash and acceleration of equity that may total more than three times annual compensation (salary and bonus) in the event of a termination following a change in control. V. Natural and Human Capital Issues As part of our efforts to maximize long-term shareholder value, we incorporate consideration of human and natural capital issues into our evaluation of a company if our research has demonstrated an issue is financially material to that company and the investing funds' investment objectives and strategies. Fidelity generally considers management's recommendation and current practice when voting on shareholder proposals concerning human and natural capital issues because it generally believes that management and the board are in the best position to determine how to address these matters. Fidelity, however, also believes that transparency is critical to sound corporate governance. Fidelity evaluates shareholder proposals concerning natural and human capital topics. To engage and vote more effectively on the growing number of submitted proposals on these topics, we developed a four-point decision-making framework. In general, Fidelity will more likely support proposals that: •Address a topic that our research has identified as financially material; •Provide disclosure of new or additional information to investors without being overly prescriptive; •Provide valuable information to the business or investors by improving the landscape of investment-decision relevant information or contributing to our understanding of a company's processes and governance of the topic in question; and •Are realistic or practical for the company to comply with. VI. Anti-Takeover Provisions and Shareholders Rights Plans Fidelity generally will oppose a proposal to adopt an anti-takeover provision. Anti-takeover provisions include: - classified boards; - "blank check" preferred stock (whose terms and conditions may be expressly determined by the company's board, for example, with differential voting rights); - golden parachutes; - supermajority provisions (that require a large majority (generally between 67-90%) of shareholders to approve corporate changes as compared to a majority provision that simply requires more than 50% of shareholders to approve those changes); - poison pills; - provisions restricting the right to call special meetings; - provisions restricting the right of shareholders to set board size; and - any other provision that eliminates or limits shareholder rights. A. Shareholders Rights Plans ("poison pills") Poison pills allow shareholders opposed to a takeover offer to purchase stock at discounted prices under certain circumstances and effectively give boards veto power over any takeover offer. While there are advantages and disadvantages to poison pills, they can be detrimental to the creation of shareholder value and can help entrench management by deterring acquisition offers not favored by the board, but that may, in fact, be beneficial to shareholders. Fidelity generally will support a proposal to adopt or extend a poison pill if the proposal: 1. Includes a condition in the charter or plan that specifies an expiration date (sunset provision) of no greater than five years; 2. Is integral to a business strategy that is expected to result in greater value for the shareholders; 3. Requires shareholder approval to be reinstated upon expiration or if amended; 4. Contains a mechanism to allow shareholders to consider a bona fide takeover offer for all outstanding shares without triggering the poison pill; and 5. Allows the Fidelity funds to hold an aggregate position of up to 20% of a company's total voting securities, where permissible. Fidelity generally also will support a proposal that is crafted only for the purpose of protecting a specific tax benefit if it also believes the proposal is likely to enhance long-term economic returns or maximize long-term shareholder value. B. Shareholder Ability to Call a Special Meeting Fidelity generally will support shareholder proposals regarding shareholders' right to call special meetings if the threshold required to call the special meeting is no less than 25% of the outstanding stock. C. Shareholder Ability to Act by Written Consent Fidelity generally will support proposals regarding shareholders' right to act by written consent if the proposals include appropriate mechanisms for implementation. This means that proposals must include record date requests from at least 25% of the outstanding stockholders and consents must be solicited from all shareholders. D. Supermajority Shareholder Vote Requirement Fidelity generally will support proposals regarding supermajority provisions if Fidelity believes that the provisions protect minority shareholder interests in companies where there is a substantial or dominant shareholder. VII. Anti-Takeover Provisions and Director Elections Fidelity will oppose the election of all directors or directors on responsible committees if the board adopted or extended an anti-takeover provision without shareholder approval. Fidelity will consider supporting the election of directors with respect to poison pills if: - All of the poison pill's features outlined under the Anti-Takeover Provisions and Shareholders Rights section above are met when a poison pill is adopted or extended. - A board is willing to consider seeking shareholder ratification of, or adding the features outlined under the Anti-Takeover Provisions and Shareholders Rights Plans section above to, an existing poison pill. If, however, the company does not take appropriate action prior to the next annual shareholder meeting, Fidelity will oppose the election of all directors at that meeting. - It determines that the poison pill was narrowly tailored to protect a specific tax benefit, and subject to an evaluation of its likelihood to enhance long-term economic returns or maximize long-term shareholder value. VIII. Capital Structure and Incorporation These guidelines are designed to protect shareholders' value in the companies in which the Fidelity funds invest. To the extent a company's management is committed and incentivized to maximize shareholder value, Fidelity generally votes in favor of management proposals; Fidelity may vote contrary to management where a proposal is overly dilutive to shareholders and/or compromises shareholder value or other interests. The guidelines that follow are meant to protect shareholders in these respects. A. Increases in Common Stock Fidelity may support reasonable increases in authorized shares for a specific purpose (a stock split or re-capitalization, for example). Fidelity generally will oppose a provision to increase a company's authorized common stock if such increase will result in a total number of authorized shares greater than three times the current number of outstanding and scheduled to be issued shares, including stock options. In the case of real estate investment trusts (REITs), however, Fidelity will oppose a provision to increase the REIT's authorized common stock if the increase will result in a total number of authorized shares greater than five times the current number of outstanding and scheduled to be issued shares. B. Multi-Class Share Structures Fidelity generally will support proposals to recapitalize multi-class share structures into structures that provide equal voting rights for all shareholders, and generally will oppose proposals to introduce or increase classes of stock with differential voting rights. However, Fidelity will evaluate all such proposals in the context of their likelihood to enhance long-term economic returns or maximize long-term shareholder value. C. Incorporation or Reincorporation in another State or Country Fidelity generally will support management proposals calling for, or recommending that, a company reincorporate in another state or country if, on balance, the economic and corporate governance factors in the proposed jurisdiction appear reasonably likely to be better aligned with shareholder interests, taking into account the corporate laws of the current and proposed jurisdictions and any changes to the company's current and proposed governing documents. Fidelity will consider supporting these shareholder proposals in limited cases if, based upon particular facts and circumstances, remaining incorporated in the current jurisdiction appears misaligned with shareholder interests. IX. Shares of Fidelity Funds or other non-Fidelity Funds When a Fidelity fund invests in an underlying Fidelity fund with public shareholders or a non-Fidelity investment company or business development company, Fidelity will generally vote in the same proportion as all other voting shareholders of the underlying fund (this is known as "echo voting"). Fidelity may not vote if "echo voting" is not operationally practical or not permitted under applicable laws and regulations. For Fidelity fund investments in a Fidelity Series Fund, Fidelity generally will vote in a manner consistent with the recommendation of the Fidelity Series Fund's Board of Trustees on all proposals, except where not permitted under applicable laws and regulations. X. Foreign Markets Many Fidelity funds invest in voting securities issued by companies that are domiciled outside the United States and are not listed on a U.S. securities exchange. Corporate governance standards, legal or regulatory requirements and disclosure practices in foreign countries can differ from those in the United States. When voting proxies relating to non-U.S. securities, Fidelity generally will evaluate proposals under these guidelines and where applicable and feasible, take into consideration differing laws, regulations and practices in the relevant foreign market in determining how to vote shares. In certain non-U.S. jurisdictions, shareholders voting shares of a company may be restricted from trading the shares for a period of time around the shareholder meeting date. Because these trading restrictions can hinder portfolio management and could result in a loss of liquidity for a fund, Fidelity generally will not vote proxies in circumstances where such restrictions apply. In addition, certain non-U.S. jurisdictions require voting shareholders to disclose current share ownership on a fund-by-fund basis. When such disclosure requirements apply, Fidelity generally will not vote proxies in order to safeguard fund holdings information. XI. Securities on Loan Securities on loan as of a record date cannot be voted. In certain circumstances, Fidelity may recall a security on loan before record date (for example, in a particular contested director election or a noteworthy merger or acquisition). Generally, however, securities out on loan remain on loan and are not voted because, for example, the income a fund derives from the loan outweighs the benefit the fund receives from voting the security. In addition, Fidelity may not be able to recall and vote loaned securities if Fidelity is unaware of relevant information before record date, or is otherwise unable to timely recall securities on loan. XII. Compliance with Legal Obligations and Avoiding Conflicts of Interest Voting of shares is conducted in a manner consistent with Fidelity's fiduciary obligations to the funds and all applicable laws and regulations. In other words, Fidelity votes in a manner consistent with these guidelines and in the best interests of the funds and their shareholders, and without regard to any other Fidelity companies' business relationships. Fidelity takes its responsibility to vote shares in the best interests of the funds seriously and has implemented policies and procedures to address actual and potential conflicts of interest. XIII. Conclusion Since its founding more than 75 years ago, Fidelity has been driven by two fundamental values: 1) putting the long-term interests of our customers and fund shareholders first; and 2) investing in companies that share our approach to creating value over the long-term. With these fundamental principles as guideposts, the funds are managed to provide the greatest possible return to shareholders consistent with governing laws and the investment guidelines and objectives of each fund. Fidelity believes that there is a strong correlation between sound corporate governance and enhancing shareholder value. Fidelity, through the implementation of these guidelines, puts this belief into action through consistent engagement with portfolio companies on matters contained in these guidelines, and, ultimately, through the exercise of voting rights by the funds. Glossary Burn rate means the total number of stock option and full value equity awards granted as compensation in a given year divided by the weighted average common stock outstanding for that same year. - For a large-capitalization company, burn rate higher than 1.5%. - For a small-capitalization company, burn rate higher than 2.5%. - For a micro-capitalization company, burn rate higher than 3.5%. Golden parachute means employment contracts, agreements, or policies that include an excise tax gross-up provision; single trigger for cash incentives; or may result in a lump sum payment of cash and acceleration of equity that may total more than three times annual compensation (salary and bonus) in the event of a termination following a change in control. Large-capitalization company means a company included in the Russell 1000® Index or the Russell Global ex-U.S. Large Cap Index. Micro-capitalization company means a company with market capitalization under US $300 million. Poison pill refers to a strategy employed by a potential takeover / target company to make its stock less attractive to an acquirer. Poison pills are generally designed to dilute the acquirer's ownership and value in the event of a takeover. Small-capitalization company means a company not included in the Russell 1000® Index or the Russell Global ex-U.S. Large Cap Index that is not a Micro-Capitalization Company.

To view a fund's proxy voting record for the most recent 12-month period ended June 30, if applicable, visit www.fidelity.com/proxyvotingresults or visit the SEC's web site at www.sec.gov. To request a free copy of a fund's proxy voting record, please call Fidelity at the telephone number listed on the front cover page of this SAI.

Security Lending Activities		Fund(s)
		Fidelity® Real Estate Equity Central Fund
Gross income from securities lending activities	$	978,008
Fees paid to securities lending agent from a revenue split	$	0
Administrative fees	$	0
Rebate (paid to borrower)	$	943,993
Other fees not included in the revenue split (lending agent fees to NFS)	$	3,310
Aggregate fees/compensation for securities lending activities	$	947,304
Net income from securities lending activities	$	30,704