Fidelity Managed Retirement 2020 Fund Class K6 is a target-date mutual fund designed primarily to meet the needs of investors approaching or in retirement around the year 2020. The fund seeks to provide a combination of capital appreciation and income by dynamically adjusting its asset allocation over time. As the target date passes, the portfolio gradually shifts from a growth-oriented mix—with a higher proportion of equities—to a more conservative stance emphasizing fixed income and capital preservation. This approach aims to reduce overall portfolio risk as investors move closer to, and through, retirement. The fund incorporates a diversified selection of underlying Fidelity funds, spanning U.S. and international stocks, bonds, and short-term instruments. Notably, it serves a critical role in workplace retirement plans and for individuals aiming for a hands-off, professionally managed investment aligned with a specific retirement horizon. The fund is managed to accommodate the evolving needs of retirees, supporting steady income and principal protection in later years, and its performance reflects the changing balance between capital growth and capital preservation typical of target-date strategies.
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