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 high yield or "junk" debt securities, and related funds), and short-term/money market instruments (fixed-income securities maturing in one year or less, and related funds). It maintains a neutral mix of 50% stocks, 40% bonds, and 10% short-term/money market, with gradual shifts within ranges of 30%-70%, 20%-60%, and 0%-50%, respectively. It invests in domestic and foreign issuers and may use Fidelity Central funds and Fidelity exchange-traded funds.