Fidelity Investments will boost equity target allocations in most of the portfolios in its Fidelity Freedom target-date fund strategies, confirmed spokeswoman Nicole Goodnow.
The asset allocation changes announced Thursday come as a result of changes in the glidepath, the result of a new review of the demographics and behavior of participants in Fidelity's record-keeping database, updated capital markets assumptions and a new risk-capacity framework.
The overall changes consist of increasing targets to domestic and international equities, and decreasing targets to fixed income and other short-term funds.
For example, the Fidelity Freedom 2020 fund's targets to domestic equities will increase to 43% from 39% and international equities will increase to 18% from 14%. Targets to fixed-income will decrease to 32% from 39% and short-term funds will decrease to 7% from 8%.
The changes will take effect over the next several months.