FSMD - Fidelity Freedom 2040 Fund Q2 2024 Review
2024-07-31 05:35:00 ET
Summary
- Fidelity Contrafund is a large-cap growth biased equity strategy focused on companies with durable multiyear earnings growth potential.
- Fidelity Freedom Funds are designed so that the target date referenced in the Fund name is the approximate year when investors expect to retire.
- The inflation outlook and its effect on expected Fed rate cuts were important drivers of investor sentiment in Q2.
- Fidelity Series Opportunistic Insights Fund outperformed its benchmark, the Russell 3000 Index.
Investment Approach
- Fidelity Freedom® Funds (the Funds) are designed so that the target date referenced in the Fund name is the approximate year when investors expect to retire.
- Except for Fidelity Freedom® Income Fund, each of the Funds seeks high total return until reaching its respective target retirement date; thereafter, each Fund's objective will be to seek high current income and, as a secondary objective, capital appreciation.
- Except for Fidelity Freedom® Income Fund, each Fund's asset allocation strategy becomes increasingly diversified as it approaches its target date - and beyond. Ultimately, the Funds are expected to merge with Fidelity Freedom Income Fund.
- The Funds employ a disciplined and time-tested investment process focused on helping investors achieve successful retirement outcomes by leveraging the depth and strength of Fidelity's investment research and resources.