Mutual Fund Summary Prospectus (497k)
2014年4月1日 - 12:30AM
Edgar (US Regulatory)
Fidelity Freedom
®
Funds
Fund
/Ticker
Fidelity Freedom 2010 Fund
/FFFCX
Summary Prospectus
May 30, 2013
As Revised March 31, 2014
Fund Summary
Fund:
Fidelity Freedom
®
2010 Fund
Investment Objective
The fund seeks high total return until its target retirement date. Thereafter the fund's objective will be to seek high current income and, as a
secondary objective, capital appreciation.
Fee Table
The following table describes the fees and expenses that may be incurred when you buy and hold shares of the fund.
Shareholder fees
(fees paid directly from your investment)
|
None
|
Annual fund operating expenses
(expenses that you pay each year as a % of the value of your investment)
Management fee
|
None
|
Distribution and/or Service (12b-1) fees
|
None
|
Other expenses
|
0.00%
|
Acquired fund fees and expenses
A
|
0.62%
|
Total annual fund operating expenses
B
|
0.62%
|
A
Adjusted to reflect current fees.
B
Differs from the ratios of expenses to average net assets in the Financial Highlights section of the prospectus because of acquired fund fees and expenses.
This
example
helps compare the cost of investing in the fund with the cost of investing in other mutual funds.
Let's say, hypothetically, that the annual return for shares of the fund is 5% and that your shareholder fees and the annual operating expenses for
shares of the fund are exactly as described in the fee table. This example illustrates the effect of fees and expenses, but is not meant to suggest
actual or expected fees and expenses or returns, all of which may vary. For every $10,000 you invested, here's how much you would pay in total expenses if you sell all of your shares at the end of each time period indicated:
1 year
|
$ 63
|
3 years
|
$ 199
|
5 years
|
$ 346
|
10 years
|
$ 774
|
Summary Prospectus
Portfolio Turnover
The fund will not incur transaction costs, such as commissions, when it buys and sells shares of underlying Fidelity funds (or "turns over" its portfolio), but it could incur transaction costs if it were to buy and sell other types of securities directly. If the fund were to buy and sell other types of
securities directly, a higher portfolio turnover rate could indicate higher transaction costs and could result in higher taxes when fund shares are
held in a taxable account. Such costs, if incurred, would not be reflected in annual operating expenses or in the example and would affect the
fund's performance. During the most recent fiscal year, the fund's portfolio turnover rate was 19% of the average value of its portfolio.
Principal Investment Strategies
-
Strategic Advisers may continue to seek high total return for several years beyond the fund's target retirement date in an effort to achieve the
fund's overall investment objective.
-
Investing in a combination of underlying Fidelity domestic equity funds, international equity funds, bond funds, and short-term funds.
-
Allocating assets among underlying Fidelity funds according to an asset allocation strategy that becomes increasingly conservative until it
reaches approximately 17% in domestic equity funds, 7% in international equity funds, 46% in bond funds, and 30% in short-term funds (approximately 10 to 19 years after the year 2010).
-
Using an asset allocation among underlying Fidelity funds as of March 31, 2013, of approximately:
Principal Investment Risks
-
Investing in Other Funds.
The fund bears all risks of investment strategies employed by the underlying funds, including the risk that the
underlying funds will not meet their investment objectives.
-
Stock Market Volatility.
Stock markets are volatile and can decline significantly in response to adverse issuer, political, regulatory, market, or
economic developments. Different parts of the market and different types of securities can react differently to these developments.
-
Interest Rate Changes.
Interest rate increases can cause the price of a debt or money market security to decrease.
-
Foreign Exposure.
Foreign markets, particularly emerging markets, can be more volatile than the U.S. market due to increased risks of adverse issuer, political, regulatory, market, or economic developments and can perform differently from the U.S. market. Emerging markets can
be subject to greater social, economic, regulatory, and political uncertainties and can be extremely volatile. Foreign exchange rates also can be
extremely volatile.
Summary Prospectus
Fund Summary - continued
-
Industry Exposure.
Market conditions, interest rates, and economic, regulatory, or financial developments could significantly affect a single
industry or group of related industries.
-
Prepayment.
The ability of an issuer of a debt security to repay principal prior to a security's maturity can cause greater price volatility if
interest rates change.
-
Issuer-Specific Changes.
The value of an individual security or particular type of security can be more volatile than, and can perform differently from, the market as a whole. A decline in the credit quality of an issuer or a provider of credit support or a maturity-shortening structure for a
security can cause the price of a security to decrease. Lower-quality debt securities (those of less than investment-grade quality, also referred to as
high yield debt securities) and certain types of other securities involve greater risk of default or price changes due to changes in the credit quality
of the issuer. The value of lower-quality debt securities and certain types of other securities can be more volatile due to increased sensitivity to
adverse issuer, political, regulatory, market, or economic developments.
-
Correlation to Index.
The performance of an underlying index fund and its index may vary somewhat due to factors such as transaction
costs, sample selection, and timing differences associated with additions to and deletions from the index.
-
Leverage Risk.
Leverage can increase market exposure, magnify investment risks, and cause losses to be realized more quickly.
-
"Growth" Investing.
"Growth" stocks can perform differently from the market as a whole and other types of stocks and can be more volatile
than other types of stocks.
-
"Value" Investing.
"Value" stocks can perform differently from the market as a whole and other types of stocks and can continue to be undervalued by the market for long periods of time.
-
Inflation-Protected Debt Exposure.
Increases in real interest rates can cause the price of inflation-protected debt securities to decrease.
Interest payments on inflation-protected debt securities can be unpredictable.
-
Commodity-Linked Investing.
Commodity-linked investments may be more volatile and less liquid than the underlying commodity, instruments, or measures and their value may be affected by the performance of the overall commodities markets as well as weather, political, tax,
and other regulatory and market developments.
An investment in the fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other
government agency. You could lose money by investing in the fund.
Summary Prospectus
Performance
The following information is intended to help you understand the risks of investing in the fund. The information illustrates the changes in the
performance of the fund's shares from year to year and compares the performance of the fund's shares to the performance of a securities market
index and a hypothetical composite of market indexes over various periods of time. The indexes have characteristics relevant to the fund's investment strategies. Index descriptions appear in the Additional Information about the Indexes section of the prospectus. Past performance
(before and after taxes) is not an indication of future performance.
Visit www.fidelity.com for updated return information.
Year-by-Year Returns
Calendar Years
|
2003
|
2004
|
2005
|
2006
|
2007
|
2008
|
2009
|
2010
|
2011
|
2012
|
|
17.13%
|
7.24%
|
5.92%
|
9.46%
|
7.43%
|
-25.32%
|
24.82%
|
11.65%
|
-0.28%
|
10.43%
|
During the periods shown in the chart:
|
Returns
|
Quarter ended
|
Highest Quarter Return
|
13.09%
|
June 30, 2009
|
Lowest Quarter Return
|
-14.15%
|
December 31, 2008
|
Year-to-Date Return
|
3.90%
|
March 31, 2013
|
Average Annual Returns
After-tax returns are calculated using the historical highest individual federal marginal income tax rates, but do not reflect the impact of state or
local taxes. Actual after-tax returns may differ depending on your individual circumstances. The after-tax returns shown are not relevant if you hold
your shares in a retirement account or in another tax-deferred arrangement. Return After Taxes on Distributions and Sale of Fund Shares may be
higher than other returns for the same period due to a tax benefit of realizing a capital loss upon the sale of fund shares.
Summary Prospectus
Fund Summary - continued
For the periods ended
December 31, 2012
|
Past 1
year
|
Past 5
years
|
Past 10
years
|
Fidelity Freedom
®
2010 Fund
|
|
|
|
Return Before Taxes
|
10.43%
|
2.76%
|
6.01%
|
Return After Taxes on Distributions
|
9.63%
|
1.67%
|
4.92%
|
Return After Taxes on Distributions and Sale of Fund Shares
|
6.90%
|
1.77%
|
4.68%
|
Barclays
®
U.S. Aggregate Bond Index
(reflects no deduction for fees, expenses, or taxes)
|
4.21%
|
5.95%
|
5.18%
|
Fidelity Freedom 2010 Composite Index
SM
(reflects no deduction for fees, expenses, or taxes)
|
9.86%
|
3.29%
|
6.37%
|
Investment Adviser
Strategic Advisers, Inc. (Strategic Advisers), an affiliate of Fidelity Management & Research Company (FMR), is the fund's manager.
Portfolio Manager(s)
Andrew Dierdorf (co-manager) has managed the fund since June 2011.
Brett Sumsion (co-manager) has managed the fund since January 2014.
Purchase and Sale of Shares
You may buy or sell shares of the fund through a Fidelity brokerage or mutual fund account, through a retirement account, or through an investment professional. You may buy or sell shares in various ways:
Internet
www.fidelity.com
|
Phone
Fidelity Automated Service Telephone (FAST
®
) 1-800-544-5555
To reach a Fidelity representative 1-800-544-6666
|
Mail
|
Additional purchases:
Fidelity Investments
P.O. Box 770001
Cincinnati, OH 45277-0003
|
Redemptions:
Fidelity Investments
P.O. Box 770001
Cincinnati, OH 45277-0035
|
TDD - Service for the Deaf and Hearing Impaired
1-800-544-0118
|
The price to buy one share of the fund is its net asset value per share (NAV). Your shares will be bought at the NAV next calculated after your
investment is received in proper form.
The price to sell one share of the fund is its NAV. Your shares will be sold at the NAV next calculated after your order is received in proper form.
The fund is open for business each day the New York Stock Exchange (NYSE) is open.
Summary Prospectus
Initial Purchase Minimum
|
$2,500
|
For Fidelity Simplified Employee Pension-IRA and Keogh accounts, and Non-Fidelity Prototype Retirement accounts
|
$500
|
Through regular investment plans in Fidelity Traditional IRAs, Roth IRAs, and Rollover IRAs (requires monthly purchases of $200 until fund balance is $2,500)
|
$200
|
The fund may waive or lower purchase minimums in other circumstances.
Tax Information
Distributions you receive from the fund are subject to federal income tax and generally will be taxed as ordinary income or capital gains, and may
also be subject to state or local taxes, unless you are investing through a tax-advantaged retirement account (in which case you may be taxed later,
upon withdrawal of your investment from such account).
Payments to Financial Intermediaries
The fund, Strategic Advisers, FMR, Fidelity Distributors Corporation (FDC), and/or their affiliates may pay intermediaries, including retirement
plan sponsors, administrators, or service-providers (who may be affiliated with Strategic Advisers, FMR, or FDC), for the sale of fund shares and
related services. These payments may create a conflict of interest by influencing your intermediary and your investment professional to recommend
the fund over another investment. Ask your investment professional or visit your intermediary's web site for more information.
Summary Prospectus
Current regulations allow Fidelity to send a single copy of shareholder documents for Fidelity funds, such as prospectuses, annual and semiannual reports, and proxy materials, to certain
mutual fund customers whom we believe are members of the same family who share the same address. We will not send multiple copies of these documents to you and members of your
family who share the same address. Instead, we will send only a single copy of these documents. This will continue for as long as you are a shareholder, unless you notify us otherwise. If
at any time you choose to receive individual copies of any documents, please call 1-800-544-8544. We will begin sending individual copies to you within 30 days of receiving your call.
FDC is a member of the Securities Investor Protection Corporation (SIPC). You may obtain information about SIPC, including the SIPC brochure, by visiting www.sipc.org or calling SIPC at
202-371-8300.
Fidelity Freedom, Fidelity Investments & Pyramid Design, and FAST are registered service marks of FMR LLC. © 2014 FMR LLC. All rights reserved.
Fidelity Freedom 2010 Composite Index is a service mark of FMR LLC.
The third-party marks appearing above are the marks of their respective owners.
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