Fidelity Freedom Index 2045 Fund - Investor Class
FIOFX
NASDAQ- -
USD
- -
- -
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
FRC
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in mil. unless spec.Quarterly Earnings Per Share
FRC
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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 02210
- IPO Date
- Oct 5, 2009
- CIK
- 0000880195
- Website
- institutional.fidelity.com
- Similar Companies
- Business
- Fidelity Freedom Index 2045 Fund - Investor Class (FIOFX) is a target-date mutual fund that seeks high total return until its target retirement date around 2045, thereafter transitioning to high current income with secondary capital appreciation. The fund, launched in 2009 and domiciled in the United States, invests primarily in a combination of underlying Fidelity domestic equity funds, international equity funds, bond funds, and short-term funds, each tracking specific indexes such as the Dow Jones U.S. Total Stock Market Index, MSCI All Country World ex U.S. Index, Bloomberg U.S. Aggregate Bond Index, and Bloomberg U.S. Long Treasury Bond Index; it allocates assets according to a neutral glide path strategy that gradually shifts toward a more conservative mix similar to the Fidelity Freedom Index Income Fund approximately 10 to 19 years post-target date. Share classes include Investor Class (FIOFX, 0.12% net expense ratio), Institutional Premium Class (FFOLX, 0.08%), Premier Class (FQIPX, 0.05%), and Premier II Class (FAVPX, 0.04%), with portfolio assets exceeding $25 billion as of September 2025 and low turnover of 13%; it targets investors retiring in or near 2045 at around age 65, available through employer-sponsored retirement plans, qualified tuition programs, and Fidelity health savings accounts with no minimum initial investment for the Investor Class. The fund is managed by Fidelity Management & Research Company LLC from headquarters in Smithfield, Rhode Island, with portfolio managers Andrew Dierdorf (since 2009), Brett Sumsion (since 2014), Finola McGuire Foley (since 2018), and Cait Dourney (since 2025). Recent developments include the launch of the Premier II Class (FAVPX) in August 2024 and a revised strategic asset allocation glide path announced in 2025, with transition beginning in Q4 2025 and completion expected by Q1 2027 to incorporate updated index compositions such as the Bloomberg Commodity 3 Month Forward Index; as of September 2025, asset allocation stands at approximately 54% U.S. equities, 36% non-U.S. equities, 10% bonds, and minimal short-term debt and net other assets.