Fidelity Advisor Managed Retirement 2020 Fund - Class I is a target-date mutual fund designed for investors approaching or entering retirement around the year 2020. Its primary function is to provide a diversified investment solution that gradually transitions from growth-oriented assets to more conservative, income-focused holdings as the target retirement date approaches. The fund invests primarily in a blend of underlying Fidelity-managed U.S. equity funds, international equity funds, bond funds, and short-term instruments, aiming to balance growth and capital preservation needs as investors age. This multi-asset approach impacts sectors ranging from domestic and global equities to various fixed-income markets. Within the financial market, this fund plays a significant role for retirement savers seeking an automated solution to asset allocation and risk management, adapting its portfolio mix over time to reduce exposure to equities and increase fixed-income and cash holdings as participants near and move through retirement. The "Class I" share class typically attracts institutional or large-scale investors due to its competitive expense structure and access to Fidelity’s management expertise.
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