Fidelity Advisor Managed Retirement Income Fund - Class A is a mutual fund designed to provide steady income for individuals in or approaching retirement. As a target-date retirement fund, it primarily focuses on preserving capital while generating income through a well-diversified portfolio. The fund allocates assets across a mix of Fidelity U.S. equity funds, international equity funds, bond funds, and short-term investments, following a stable, neutral asset allocation strategy to support systematic withdrawals for retirees. This diversification is intended to balance income generation with risk management, reducing the impact of market fluctuations on retirement savings. Managed by Fidelity, the fund emphasizes high current income with some potential for capital appreciation as a secondary goal. It typically holds a relatively concentrated mix of underlying funds, with the majority of assets in its top ten holdings. The fund distributes income monthly, supporting regular cash flows needed by retirees. With a below-average risk rating relative to its peers and a moderate expense ratio, the fund is tailored to those seeking a managed solution for income in retirement, leveraging Fidelity’s expertise in multi-asset strategies and long-term portfolio construction.
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