Description

This investment vehicle's primary goal is to achieve substantial total returns until its designated retirement year. Following this date, its objective transitions to seeking a high level of current income, with capital appreciation becoming a secondary focus. The fund predominantly allocates its assets across various underlying Fidelity funds, encompassing U.S. and international equities, fixed-income instruments, and short-term investments. The fund's manager implements a dynamic asset allocation strategy that progressively adjusts over time. This strategy is designed to eventually mirror the asset mix of the Fidelity Freedom® Blend Income Fund, with this alignment anticipated approximately 10 to 19 years after 2025.