This Fund targets an average annual return of 4% after the deduction of ongoing fund charges, over a typical market cycle of 5-7 years. The return target assumes the deduction of the ongoing charges figure (OCF) on the W share class. There is no guarantee that the target will be achieved by the Fund. The Fund provides global exposure to a diversified range of assets by investing at least 70% into funds (including those operated by Fidelity).The Fund has a large exposure to lower risk investments with the aim of mitigating the risk of capital losses, however, an investor may not get back the full amount invested. Asset allocation exposure of the Fund will be actively managed subject to it remaining within the following parameters in all market conditions: 0-35% equity, 15-100% debt instruments, 0-20% commodities, 0-30% cash and 0-30% alternatives (such as infrastructure securities and Real Estate Investment Trusts).