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 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 targets a neutral mix of 30% stocks, 50% bonds, and 20% short-term, adjusting gradually within ranges of 20%-40%, 40%-60%, and 0%-50%, respectively. It invests in domestic and foreign issuers and may use Fidelity Central funds and Fidelity exchange-traded funds.