Fund Description

The fund allocates assets among three main asset classes: stocks (equity securities of all types, including funds that invest in such securities), bonds (fixed-income securities of all types maturing in more than one year, including lower-quality debt securities sometimes referred to as high yield or junk bonds, and funds that invest in such securities), and short-term/money market instruments (fixed-income securities of all types maturing in one year or less, including funds that invest in such securities). It maintains a neutral mix of 70% stocks, 25% bonds, and 5% short-term, adjusting gradually within ranges of 50%-100% stocks, 0%-50% bonds, and 0%-50% short-term. It invests in domestic and foreign issuers and may use Fidelity Central funds and Fidelity exchange-traded funds.