Fund Description

The fund invests primarily in underlying Fidelity U.S. equity, international equity, bond, and short-term funds, allocating assets according to a stable neutral asset allocation strategy that the Adviser may modify in shareholders' interests. The Adviser may transition the fund's neutral asset allocation percentages toward a revised neutral asset allocation strategy. The fund may buy and sell futures contracts, long or short, to manage cash flows efficiently, remain fully invested, or facilitate asset allocation. Under normal market conditions, the Adviser may adjust equity (including commodities), bond, and short-term exposures by up to 10% from neutral and allocate 0% to 10% each (up to 25% total) to other asset classes such as high yield, floating rate, real estate debt, and emerging markets debt.