Fidelity Freedom Index 2040 Fund - Investor Class
FBIFX
NASDAQ- -
USD
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- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 245 Summer Street Boston MA United States of America 2210
- IPO Date
- Oct 5, 2009
- CIK
- 0000880195
- Website
- fundresearch.fidelity.com
- Similar Companies
- Business
- Fidelity Freedom Index 2040 Fund - Investor Class (FBIFX) is a target-date mutual fund offered by Fidelity Investments that seeks high total return until its target retirement date around 2040, after which it aims for high current income and secondary capital appreciation. The fund invests primarily in a combination of underlying Fidelity domestic equity funds, international equity funds, bond funds, and short-term funds, including Fidelity Series Total Market Index Fund (approximately 48-49%), Fidelity Series Global ex U.S. Index Fund (approximately 32-33%), Fidelity Series Bond Index Fund (approximately 10-11%), Fidelity Series Long-Term Treasury Bond Index Fund (approximately 5%), and Fidelity Series International Developed Markets Bond Index Fund (approximately 2%); it employs a neutral asset allocation strategy that becomes increasingly conservative over time, adjusting monthly until approximating the allocation of the Fidelity Freedom Index Retirement Fund 10 to 19 years post-target date, with the potential to merge into it. Share classes include Investor Class (FBIFX, net expense ratio 0.12%), Institutional Premium Class (FFIZX, 0.08%), Premier Class (FPIPX, 0.05%), and Premier II Class (FAVOX, 0.04%), with total net assets exceeding $28 billion as of September 30, 2025. Launched on October 2, 2009, and managed by Fidelity Management & Research Company LLC from headquarters in Smithfield, Rhode Island, the fund targets investors anticipating retirement in or around 2040 at approximately age 65, serving primarily U.S. individual and workplace retirement plan participants. It operates within the target-date 2040 category, with a portfolio turnover rate of 13% and geographic focus on U.S. and global markets through its underlying index-tracking funds. In recent developments, Fidelity renamed Fidelity Freedom Index Income Fund to Fidelity Freedom Index Retirement Fund on September 9, 2025, and initiated a transition to an updated glide path and strategic asset allocation starting October 1, 2025, featuring increased equity exposure for early-career and retirement-stage investors, refined allocations for late-career investors with reduced U.S. nominal bonds and added inflation-sensitive assets like inflation-protected bonds and the Bloomberg Commodity 3 Month Forward Index (TR) in its composite benchmark, with completion expected by Q1 2027. The fund utilizes futures contracts for efficient cash flow management, full investment maintenance, and asset allocation facilitation, maintaining a diversified asset mix of roughly 49% U.S. equities, 33% non-U.S. equities, 18% bonds, and minimal short-term debt/net other assets as of late 2025. Earlier, in 2021, Fidelity lowered the Institutional Premium Class minimum investment from $100 million to $5 million to enhance access.