Fidelity Asset Manager 85% Fund
FEYTX
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- Fidelity Advisor Asset Manager 85% Fund (Class M; FEYTX) is an open-end mutual fund managed by Fidelity Investments that seeks to maximize total return over the long term by allocating assets among a diversified mix of approximately 85% equities and 15% fixed income and short-term instruments. The fund invests primarily in underlying Fidelity central funds, including Fidelity U.S. Equity Central Fund (approximately 50%), Fidelity International Equity Central Fund (approximately 24%), Fidelity Emerging Markets Equity Central Fund (approximately 10%), and various bond funds focusing on investment-grade securities, U.S. Treasuries, Treasury Inflation-Protected Securities (TIPS), and short-term instruments; it maintains significant exposure to U.S. stocks (53%), non-U.S. stocks (34%), U.S. bonds (13%), and non-U.S. bonds (1%), with top sectors encompassing technology (21%), financial services (15%), industrials (11%), consumer cyclical (10%), and healthcare (9%). Top individual holdings include Fidelity Enhanced Small Cap ETF, Apple Inc., Fidelity Blue Chip Growth ETF, Microsoft Corp., and NVIDIA Corp., representing about 15% of the portfolio. Launched on October 2, 2006, and domiciled in the United States, the fund is available for sale in the U.S. with a net expense ratio of 1.19%, a front-end load of 3.50%, and total net assets of approximately $4.47 billion as of the latest reporting. Fidelity Investments, the fund's sponsor and manager, maintains headquarters in Boston, Massachusetts, where it was founded in 1946, and oversees a broad range of asset allocation products targeting individual and institutional investors seeking aggressive growth with moderate diversification. The fund operates globally, with regional allocations emphasizing the United States (53%), Eurozone (9%), emerging Asia (5%), United Kingdom (4%), and Japan (4%). Portfolio management is led by Avishek Hazrachoudhury since April 28, 2018, and Katherine Shaw since November 1, 2023, following the departure of Geoff Stein, who transitioned to Chief Investment Officer of Global Asset Allocation; this change reflects ongoing strategic adjustments within Fidelity's asset manager series without impacting Morningstar ratings. In Q2 2024, the fund adjusted its positioning to underweight investment-grade bonds below target levels while retaining modest exposures to long-term U.S. Treasuries for interest-rate sensitivity and volatility buffering, as well as TIPS for inflation protection and credit-sensitive bonds for yield enhancement amid global economic expansion and easing inflation. No major acquisitions, mergers, funding rounds, or product launches specific to FEYTX have been reported in the last 1-2 years.