Fidelity maintains a permanent in-house team of governance specialists who work closely with the investment team and who are responsible for conducting our voting activities. Securities of portfolio companies generally are voted in a manner consistent with Fidelity's Proxy Voting Guidelines and consistent with the investment objectives of each fund and account. In evaluating proposals, Fidelity considers information from several sources, including management or shareholders of a company presenting a proposal and proxy voting advisory firms, and uses all this information as an input within the larger mix of information to which the Guidelines are applied. Fidelity's voting instructions are generally processed electronically via our proxy voting agent, Institutional Shareholder Services (ISS). Our proxy voting agent provides general meeting notifications, processes our voting instructions and records this activity for subsequent reporting purposes. Additionally, we subscribe to several corporate governance and voting advisory services, including products supported by ISS, Glass Lewis and Equilar.