Description

This fund aims for substantial overall returns until its designated retirement year. After that date, its main objective shifts to generating significant current income, with capital appreciation becoming a secondary focus. The portfolio primarily invests in a diverse array of underlying Fidelity mutual funds, including those concentrated in U.S. stocks, international equities, fixed-income instruments, and short-duration assets. The fund's adviser utilizes a flexible, neutral asset allocation strategy that evolves progressively. This strategy will eventually converge to an asset mix similar to the Fidelity Freedom® Blend Income Fund, a transition expected to occur approximately 10 to 19 years after 2040.