Fidelity Freedom 2070 Fund Class K6
FRBHX
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
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.- CEO
- Brett Sumsion
- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 245 Summer Street Boston MA United States of America 02210
- IPO Date
- Jul 3, 2024
- Website
- fundresearch.fidelity.com
- Similar Companies
- Business
- Fidelity Freedom 2070 Fund Class K6 (FRBHX) is a target-date mutual fund managed by Fidelity Investments that seeks high total return until its target date near 2070, after which it transitions toward current income and capital preservation through a glide path that gradually reduces equity exposure and increases fixed income allocations. The fund primarily invests in a diversified portfolio of underlying Fidelity funds, including Fidelity Series Emerging Markets Opportunities Fund (approximately 10.71%), Fidelity Series Large Cap Stock Fund (9.19%), Fidelity Series Growth Company Fund (8.99%), Fidelity Series International Value Fund (8.66%), Fidelity Series Overseas Fund (8.37%), Fidelity Series International Growth Fund (8.11%), Fidelity Series Long-Term Treasury Bond Index Fund (7.02%), Fidelity Series Stock Selector Large Cap Value Fund (6.33%), Fidelity Series Value Discovery Fund (5.87%), and Fidelity Series Opportunistic Insights Fund (5.49%); its asset allocation emphasizes U.S. stocks (around 48-50%), non-U.S. stocks (41-40%), U.S. bonds (5-6%), cash (4%), and minimal non-U.S. bonds. Launched on June 28, 2024, the fund is domiciled in the United States, available primarily to U.S. investors through retirement plans and institutional channels, with a net expense ratio of 0.45%, no front-end or deferred loads, and total net assets of approximately $90.63 million. The fund is managed by a team from Fidelity's Global Asset Allocation group, including Andrew Dierdorf and Brett Sumsion (since June 28, 2024) and newer additions Finola McGuire Foley and Cait Dourney (since May 30, 2025). Fidelity Investments, headquartered in Boston, Massachusetts and founded in 1946, serves as the parent company and investment manager, leveraging its extensive research capabilities for active management across domestic and international equities, emerging markets opportunities, value and growth strategies, large-cap stocks, and fixed income securities. Geographically, the fund provides exposure to U.S. and global markets, targeting long-term investors such as those planning retirement around 2070, with allocations spanning North America, Europe, Asia-Pacific, and emerging regions. In recent developments, the Class K6 share class (FRBHX) was introduced on June 28, 2024, as part of Fidelity's expansion of its Freedom target-date series to support investors with extended time horizons amid longer life expectancies; this launch coincided with related classes like Class K (FRBEX) and Advisor Class K6 (FRBPX). Portfolio manager changes occurred in May 2025 with the addition of Finola McGuire Foley and Cait Dourney, enhancing the team's expertise in multi-asset strategies. A revised neutral asset allocation strategy for the broader Fidelity Freedom series, including this fund, is scheduled to take effect by the end of the first quarter of 2027, reflecting ongoing adjustments to market conditions and retirement outcome goals. No major acquisitions, funding rounds, or partnerships specific to FRBHX were reported in the last 1-2 years, though Fidelity continues to utilize its proprietary series funds for underlying investments.