Fidelity Advisor Freedom 2020 Fund Class K6 is a target-date mutual fund designed to help investors prepare for retirement around the year 2020. The fund's primary purpose is to seek high total return while also focusing on principal preservation as participants reach and move beyond the target retirement date. It accomplishes this by investing in a diversified mix of underlying Fidelity funds, which span domestic and international equities, various bond sectors, and short-term instruments. The asset allocation follows a "glide path" strategy: as the target date approaches and passes, the portfolio gradually shifts from higher-risk growth assets toward more conservative, income-oriented holdings, reflecting the evolving needs of retirees. This fund provides broad diversification, leveraging Fidelity’s research and investment expertise, and aims to offer stability and income in post-retirement years. The Class K6 share class is available to certain eligible investors, typically through institutional or workplace retirement plans. It plays an important role in the retirement ecosystem, serving investors seeking a managed, age-appropriate portfolio solution as they transition from accumulating assets to drawing income in retirement.
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