Fidelity Advisor Freedom 2015 Fund - Class M is a target-date mutual fund designed primarily for investors nearing or in retirement who anticipated retiring around the year 2015. As a target-date portfolio, its asset allocation has gradually shifted from higher growth investments like equities to a higher proportion of more conservative holdings such as bonds and short-term instruments as it approached and passed its target date. The fund pursues a high total return with a secondary focus on principal preservation as the retirement target year approaches and beyond. Its investment strategy leverages an actively managed allocation among various asset classes, with the manager having flexibility to adjust allocations by up to 10 percentage points for equities, bonds, and short-term funds based on an intermediate-term market outlook. Over time, the portfolio becomes increasingly conservative to suit investors in retirement, and it is planned to eventually merge with the Fidelity Freedom Income Fund. This structure supports diversification and risk reduction, making the fund significant for those seeking managed, age-based retirement solutions in the mutual fund marketplace.
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