Fidelity Freedom Blend 2040 Fund

This fund aims for substantial overall returns until its designated retirement year. After that date, its main objective shifts to generating significant current income, with capital appreciation becoming a secondary focus. The portfolio primarily invests in a diverse array of underlying Fidelity mutual funds, including those concentrated in U.S. stocks, international equities, fixed-income instruments, and short-duration assets. The fund's adviser utilizes a flexible, neutral asset allocation strategy that evolves progressively. This strategy will eventually converge to an asset mix similar to the Fidelity Freedom® Blend Income Fund, a transition expected to occur approximately 10 to 19 years after 2040.