N-CSR 1 main.htm

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED

MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number 811-6440

Fidelity Aberdeen Street Trust
(Exact name of registrant as specified in charter)

82 Devonshire St., Boston, Massachusetts 02109
(Address of principal executive offices) (Zip code)

Scott C. Goebel, Secretary

82 Devonshire St.

Boston, Massachusetts 02109
(Name and address of agent for service)

Registrant's telephone number, including area code: 617-563-7000

Date of fiscal year end:	March 31

Date of reporting period:	March 31, 2010

Item 1. Reports to Stockholders

Fidelity Advisor Freedom Funds®-
Income, 2005, 2010, 2015, 2020, 2025, 2030,
2035, 2040, 2045, 2050 - Class A, Class T, Class B and Class C

Annual Report

March 31, 2010

(2_fidelity_logos) (Registered_Trademark)

Chairman's Message	<Click Here>	The Chairman's message to shareholders.
Performance	<Click Here>	How the fund has done over time.
Management's Discussion	<Click Here>	The manager's review of fund performance, strategy and outlook.
Shareholder Expense Example	<Click Here>	An example of shareholder expenses.
Fidelity Advisor Freedom Income Fund	<Click Here> <Click Here> <Click Here>	Investment Changes Investments Financial Statements
Fidelity Advisor Freedom 2005 Fund	<Click Here> <Click Here> <Click Here>	Investment Changes Investments Financial Statements
Fidelity Advisor Freedom 2010 Fund	<Click Here> <Click Here> <Click Here>	Investment Changes Investments Financial Statements
Fidelity Advisor Freedom 2015 Fund	<Click Here> <Click Here> <Click Here>	Investment Changes Investments Financial Statements
Fidelity Advisor Freedom 2020 Fund	<Click Here> <Click Here> <Click Here>	Investment Changes Investments Financial Statements
Fidelity Advisor Freedom 2025 Fund	<Click Here> <Click Here> <Click Here>	Investment Changes Investments Financial Statements
Fidelity Advisor Freedom 2030 Fund	<Click Here> <Click Here> <Click Here>	Investment Changes Investments Financial Statements
Fidelity Advisor Freedom 2035 Fund	<Click Here> <Click Here> <Click Here>	Investment Changes Investments Financial Statements
Fidelity Advisor Freedom 2040 Fund	<Click Here> <Click Here> <Click Here>	Investment Changes Investments Financial Statements
Fidelity Advisor Freedom 2045 Fund	<Click Here> <Click Here> <Click Here>	Investment Changes Investments Financial Statements
Fidelity Advisor Freedom 2050 Fund	<Click Here> <Click Here> <Click Here>	Investment Changes Investments Financial Statements
Notes	<Click Here>	Notes to the financial statements.
Report of Independent Registered Public Accounting Firm	<Click Here>
Trustees and Officers	<Click Here>
Distributions	<Click Here>
Proxy Voting Results	<Click Here>

Annual Report

To view a fund's proxy voting guidelines and proxy voting record for the 12-month period ended June 30, visit http://www.fidelity.com/proxyvotingresults or visit the Securities and Exchange Commission's (SEC) web site at http://www.sec.gov. You may also call 1-877-208-0098 to request a free copy of the proxy voting guidelines.

Standard & Poor's, S&P and S&P 500 are registered service marks of The McGraw-Hill Companies, Inc. and have been licensed for use by Fidelity Distributors Corporation.

Other third party marks appearing herein are the property of their respective owners.

All other marks appearing herein are registered or unregistered trademarks or service marks of FMR LLC or an affiliated company.

This report and the financial statements contained herein are submitted for the general information of the shareholders of the funds. This report is not authorized for distribution to prospective investors in the funds unless preceded or accompanied by an effective prospectus.

A fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-Q. Forms N-Q are available on the SEC's web site at http://www.sec.gov. A fund's Forms N-Q may be reviewed and copied at the SEC's Public Reference Room in Washington, DC. Information regarding the operation of the SEC's Public Reference Room may be obtained by calling 1-800-SEC-0330. For a complete list of a fund's portfolio holdings, view the most recent holdings listing, semiannual report, or annual report on Fidelity's web site at http://www.fidelity.com or http://www.advisor.fidelity.com, as applicable.

NOT FDIC INSURED • MAY LOSE VALUE • NO BANK GUARANTEE

Neither the funds nor Fidelity Distributors Corporation is a bank.

Annual Report

Chairman's Message

(photo_of_Abigail_P_Johnson)

Dear Shareholder:

Global capital markets have been positive thus far in 2010, overcoming some early volatility to continue the upward trend that began in March 2009. Year to date, U.S. stocks have seen the biggest gains, outpacing the performance of foreign equities, which has been hampered by a rebounding dollar. Financial markets are always unpredictable, of course, but there also are several time-tested investment principles that can help put the odds in your favor.

One of the basic tenets is to invest for the long term. Over time, riding out the markets' inevitable ups and downs has proven much more effective than selling into panic or chasing the hottest trend. Even missing only a few of the markets' best days can significantly diminish investor returns. Patience also affords the benefits of compounding - of earning interest on additional income or reinvested dividends and capital gains. There can be tax advantages and cost benefits to consider as well. While staying the course doesn't eliminate risk, it can considerably lessen the effect of short-term declines.

You can further manage your investing risk through diversification. And today, more than ever, geographic diversification should be taken into account. Studies indicate that asset allocation is the single most important determinant of a portfolio's long-term success. The right mix of stocks, bonds and cash - aligned to your particular risk tolerance and investment objective - is very important. Age-appropriate rebalancing is also an essential aspect of asset allocation. For younger investors, an emphasis on equities - which historically have been the best-performing asset class over time - is encouraged. As investors near their specific goal, such as retirement or sending a child to college, consideration may be given to replacing volatile assets (e.g. common stocks) with more-stable fixed investments (bonds or savings plans).

A third principle - investing regularly - can help lower the average cost of your purchases. Investing a certain amount of money each month or quarter helps ensure you won't pay for all your shares at market highs. This strategy - known as dollar cost averaging - also reduces "emotion" from investing, helping shareholders avoid selling weak performers just prior to an upswing, or chasing a hot performer just before a correction.

We invite you to contact us via the Internet, through our Investor Centers or by phone. It is our privilege to provide you the information you need to make the investments that are right for you.

Sincerely,

(The chairman's signature appears here.)

Abigail P. Johnson

Annual Report

Fidelity Advisor Freedom Income Fund® - Class A, T, B, and C

Performance: The Bottom Line

Average annual total return reflects the change in the value of an investment, assuming reinvestment of the class' dividend income and capital gains (the profits earned upon the sale of securities that have grown in value, if any) and assuming a constant rate of performance each year. The $10,000 table and the fund's returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. During periods of reimbursement by Fidelity, a fund's total return will be greater than it would be had the reimbursement not occurred. How a fund did yesterday is no guarantee of how it will do tomorrow.

Average Annual Total Returns

Periods ended March 31, 2010	Past 1 year	Past 5 years	Life of fund^A
Class A (incl. 5.75% sales charge)	14.74%	2.63%	2.85%
Class T (incl. 3.50% sales charge)	17.21%	2.84%	2.95%
Class B (incl. contingent deferred sales charge)^B	15.86%	2.69%	2.97%
Class C (incl. contingent deferred sales charge)^C	19.83%	3.06%	2.98%

^AFrom July 24, 2003.

^BClass B shares' contingent deferred sales charges included in the past one year, past five years, and life of fund total return figures are 5%, 2%, and 0%, respectively.

^CClass C shares' contingent deferred sales charges included in the past one year, past five years, and life of fund total return figures are 1%, 0%, and 0%, respectively.

$10,000 Over Life of Fund

Let's say hypothetically that $10,000 was invested in Fidelity Advisor Freedom Income Fund® - Class A on July 24, 2003, when the fund started, and the current 5.75% sales charge was paid. The chart shows how the value of your investment would have changed, and also shows how the Barclays Capital U.S. Aggregate Bond Index performed over the same period.

fid84

Annual Report

Fidelity Advisor Freedom 2005 Fund ®- Class A, T, B, and C

Performance: The Bottom Line

Average Annual Total Returns

Periods ended March 31, 2010	Past 1 year	Past 5 years	Life of fund^A
Class A (incl. 5.75% sales charge)	26.21%	2.28%	3.01%
Class T (incl. 3.50% sales charge)	28.93%	2.51%	3.13%
Class B (incl. contingent deferred sales charge)^B	27.90%	2.36%	3.20%
Class C (incl. contingent deferred sales charge)^C	31.90%	2.72%	3.21%

^AFrom November 6, 2003.

^BClass B shares' contingent deferred sales charges included in the past one year, past five years, and life of fund total return figures are 5%, 2%, and 0%, respectively.

^CClass C shares' contingent deferred sales charges included in the past one year, past five years, and life of fund total return figures are 1%, 0%, and 0%, respectively.

$10,000 Over Life of Fund

Let's say hypothetically that $10,000 was invested in Fidelity Advisor Freedom 2005 Fund® - Class A on November 6, 2003, when the fund started, and the current 5.75% sales charge was paid. The chart shows how the value of your investment would have changed, and also shows how the Barclays Capital U.S. Aggregate Bond Index performed over the same period.

fid86

Annual Report

Fidelity Advisor Freedom 2010 Fund ®- Class A, T, B, and C

Performance: The Bottom Line

Average Annual Total Returns

Periods ended March 31, 2010	Past 1 year	Past 5 years	Life of fund^A
Class A (incl. 5.75% sales charge)	28.66%	2.32%	3.55%
Class T (incl. 3.50% sales charge)	31.42%	2.55%	3.66%
Class B (incl. contingent deferred sales charge)^B	30.54%	2.42%	3.70%
Class C (incl. contingent deferred sales charge)^C	34.45%	2.77%	3.70%

^AFrom July 24, 2003.

^BClass B shares' contingent deferred sales charges included in the past one year, past five years, and life of fund total return figures are 5%, 2%, and 0%, respectively.

^CClass C shares' contingent deferred sales charges included in the past one year, past five years, and life of fund total return figures are 1%, 0%, and 0%, respectively.

$10,000 Over Life of Fund

Let's say hypothetically that $10,000 was invested in Fidelity Advisor Freedom 2010 Fund® - Class A on July 24, 2003, when the fund started, and the current 5.75% sales charge was paid. The chart shows how the value of your investment would have changed, and also shows how the Barclays Capital U.S. Aggregate Bond Index performed over the same period.

fid88

Annual Report

Fidelity Advisor Freedom 2015 Fund®- Class A, T, B, and C

Performance: The Bottom Line

Average Annual Total Returns

Periods ended March 31, 2010	Past 1 year	Past 5 years	Life of fund^A
Class A (incl. 5.75% sales charge)	30.02%	2.53%	3.46%
Class T (incl. 3.50% sales charge)	32.72%	2.74%	3.59%
Class B (incl. contingent deferred sales charge) ^B	31.85%	2.61%	3.67%
Class C (incl. contingent deferred sales charge) ^C	35.97%	2.97%	3.66%

^AFrom November 6, 2003.

^BClass B shares' contingent deferred sales charges included in the past one year, past five years, and life of fund total return figures are 5%, 2%, and 0%, respectively.

^CClass C shares' contingent deferred sales charges included in the past one year, past five years, and life of fund total return figures are 1%, 0%, and 0%, respectively.

$10,000 Over Life of Fund

Let's say hypothetically that $10,000 was invested in Fidelity Advisor Freedom 2015 Fund® - Class A on November 6, 2003, when the fund started, and the current 5.75% sales charge was paid. The chart shows how the value of your investment would have changed, and also shows how the S&P 500® Index performed over the same period.

fid90

Annual Report

Fidelity Advisor Freedom 2020 Fund®- Class A, T, B, and C

Performance: The Bottom Line

Average Annual Total Returns

Periods ended March 31, 2010	Past 1 year	Past 5 years	Life of fund^A
Class A (incl. 5.75% sales charge)	36.02%	2.01%	4.04%
Class T (incl. 3.50% sales charge)	38.97%	2.23%	4.17%
Class B (incl. contingent deferred sales charge) ^B	38.34%	2.10%	4.21%
Class C (incl. contingent deferred sales charge) ^C	42.38%	2.44%	4.21%

^AFrom July 24, 2003.

^BClass B shares' contingent deferred sales charges included in the past one year, past five years, and life of fund total return figures are 5%, 2%, and 0%, respectively.

^CClass C shares' contingent deferred sales charges included in the past one year, past five years, and life of fund total return figures are 1%, 0%, and 0%, respectively.

$10,000 Over Life of Fund

Let's say hypothetically that $10,000 was invested in Fidelity Advisor Freedom 2020 Fund® - Class A on July 24, 2003, when the fund started, and the current 5.75% sales charge was paid. The chart shows how the value of your investment would have changed, and also shows how the S&P 500 Index performed over the same period.

fid92

Annual Report

Fidelity Advisor Freedom 2025 Fund®- Class A, T, B, and C

Performance: The Bottom Line

Average Annual Total Returns

Periods ended March 31, 2010	Past 1 year	Past 5 years	Life of fund^A
Class A (incl. 5.75% sales charge)	38.42%	1.93%	3.26%
Class T (incl. 3.50% sales charge)	41.47%	2.17%	3.44%
Class B (incl. contingent deferred sales charge) ^B	40.83%	2.03%	3.46%
Class C (incl. contingent deferred sales charge) ^C	44.83%	2.39%	3.45%

^AFrom November 6, 2003.

^BClass B shares' contingent deferred sales charges included in the past one year, past five years, and life of fund total return figures are 5%, 2%, and 0%, respectively.

^CClass C shares' contingent deferred sales charges included in the past one year, past five years, and life of fund total return figures are 1%, 0%, and 0%, respectively.

$10,000 Over Life of Fund

Let's say hypothetically that $10,000 was invested in Fidelity Advisor Freedom 2025 Fund® - Class A on November 6, 2003, when the fund started, and the current 5.75% sales charge was paid. The chart shows how the value of your investment would have changed, and also shows how the S&P 500 Index performed over the same period.

fid94

Annual Report

Fidelity Advisor Freedom 2030 Fund®- Class A, T, B, and C

Performance: The Bottom Line

Average Annual Total Returns

Periods ended March 31, 2010	Past 1 year	Past 5 years	Life of fund^A
Class A (incl. 5.75% sales charge)	41.54%	1.40%	3.90%
Class T (incl. 3.50% sales charge)	44.48%	1.61%	4.01%
Class B (incl. contingent deferred sales charge)^B	44.07%	1.48%	4.05%
Class C (incl. contingent deferred sales charge)^C	48.06%	1.84%	4.05%

^AFrom July 24, 2003.

^BClass B shares' contingent deferred sales charges included in the past one year, past five years, and life of fund total return figures are 5%, 2%, and 0%, respectively.

^CClass C shares' contingent deferred sales charges included in the past one year, past five years, and life of fund total return figures are 1%, 0%, and 0%, respectively.

$10,000 Over Life of Fund

Let's say hypothetically that $10,000 was invested in Fidelity Advisor Freedom 2030 Fund® - Class A on July 24, 2003, when the fund started, and the current 5.75% sales charge was paid. The chart shows how the value of your investment would have changed, and also shows how the S&P 500 Index performed over the same period.

fid96

Annual Report

Fidelity Advisor Freedom 2035 Fund®- Class A, T, B, and C

Performance: The Bottom Line

Average Annual Total Returns

Periods ended March 31, 2010	Past 1 year	Past 5 years	Life of fund^A
Class A (incl. 5.75% sales charge)	42.88%	1.32%	2.98%
Class T (incl. 3.50% sales charge)	45.88%	1.54%	3.07%
Class B (incl. contingent deferred sales charge)^B	45.43%	1.39%	3.12%
Class C (incl. contingent deferred sales charge)^C	49.28%	1.75%	3.14%

^AFrom November 6, 2003.

^BClass B shares' contingent deferred sales charges included in the past one year, past five years, and life of fund total return figures are 5%, 2%, and 0%, respectively.

^CClass C shares' contingent deferred sales charges included in the past one year, past five years, and life of fund total return figures are 1%, 0%, and 0%, respectively.

$10,000 Over Life of Fund

Let's say hypothetically that $10,000 was invested in Fidelity Advisor Freedom 2035 Fund® - Class A on November 6, 2003, when the fund started, and the current 5.75% sales charge was paid. The chart shows how the value of your investment would have changed, and also shows how the S&P 500 Index performed over the same period.

fid98

Annual Report

Fidelity Advisor Freedom 2040 Fund®- Class A, T, B, and C

Performance: The Bottom Line

Average Annual Total Returns

Periods ended March 31, 2010	Past 1 year	Past 5 years	Life of fund^A
Class A (incl. 5.75% sales charge)	44.35%	1.20%	4.05%
Class T (incl. 3.50% sales charge)	47.48%	1.43%	4.15%
Class B (incl. contingent deferred sales charge) ^B	47.08%	1.30%	4.20%
Class C (incl. contingent deferred sales charge) ^C	51.18%	1.65%	4.19%

^AFrom July 24, 2003.

^BClass B shares' contingent deferred sales charges included in the past one year, past five years, and life of fund total return figures are 5%, 2%, and 0%, respectively.

^CClass C shares' contingent deferred sales charges included in the past one year, past five years, and life of fund total return figures are 1%, 0%, and 0%, respectively.

$10,000 Over Life of Fund

Let's say hypothetically that $10,000 was invested in Fidelity Advisor Freedom 2040 Fund® - Class A on July 24, 2003, when the fund started, and the current 5.75% sales charge was paid. The chart shows how the value of your investment would have changed, and also shows how the S&P 500 Index performed over the same period.

fid100

Annual Report

Fidelity Advisor Freedom 2045 Fund®- Class A, T, B, and C

Performance: The Bottom Line

Average Annual Total Returns

Periods ended March 31, 2010	Past 1 year	Life of fund^A
Class A (incl. 5.75% sales charge)	44.97%	-2.17%
Class T (incl. 3.50% sales charge)	48.15%	-1.81%
Class B (incl. contingent deferred sales charge) ^B	47.74%	-2.10%
Class C (incl. contingent deferred sales charge) ^C	51.90%	-1.37%

^AFrom June 1, 2006.

^BClass B shares' contingent deferred sales charges included in the past one year and life of fund total return figures are 5%, and 3%, respectively.

^CClass C shares' contingent deferred sales charges included in the past one year and life of fund total return figures are 1% and 0%, respectively.

$10,000 Over Life of Fund

Let's say hypothetically that $10,000 was invested in Fidelity Advisor Freedom 2045 Fund® - Class A on June 1, 2006, when the fund started, and the current 5.75% sales charge was paid. The chart shows how the value of your investment would have changed, and also shows how the S&P 500 Index performed over the same period.

fid102

Annual Report

Fidelity Advisor Freedom 2050 Fund®- Class A, T, B, and C

Performance: The Bottom Line

Average Annual Total Returns

Periods ended March 31, 2010	Past 1 year	Life of fund^A
Class A (incl. 5.75% sales charge)	46.97%	-2.47%
Class T (incl. 3.50% sales charge)	50.12%	-2.09%
Class B (incl. contingent deferred sales charge) ^B	49.72%	-2.37%
Class C (incl. contingent deferred sales charge) ^C	54.15%	-1.63%

^AFrom June 1, 2006.

^BClass B shares' contingent deferred sales charges included in the past one year and life of fund total return figures are 5% and 3%, respectively.

^CClass C shares' contingent deferred sales charges included in the past one year and life of fund total return figures are 1% and 0%, respectively.

$10,000 Over Life of Fund

Let's say hypothetically that $10,000 was invested in Fidelity Advisor Freedom 2050 Fund® - Class A on June 1, 2006, when the fund started, and the current 5.75% sales charge was paid. The chart shows how the value of your investment would have changed, and also shows how the S&P 500 Index performed over the same period.

fid104

Annual Report

Management's Discussion of Fund Performance

Market Recap: Blistering stock market declines sustained during the global economic crisis dramatically reversed during the 12-month period ending March 31, 2010, as extraordinary government stimulus took hold, corporate cost cutting paved the way for encouraging earnings reports, credit conditions improved and consumer fears began to ease. After hitting woeful lows in March 2009, stock markets began a steady ascent that coincided with the near culmination of the Great Recession that began in late 2007. Although a weak labor market still lingered, in March 2010 the prices of many individual stocks reached a 52-week high, lifting the blue-chip Dow Jones Industrial Average^SM to a 17-month peak, and a 46.93% gain for the annual period. Impressive returns were widespread, with the S&P 500® Index rising 49.77% - its third-largest 12-month increase in more than two decades - and the technology-laden Nasdaq Composite® Index rising 58.32% for the period. Strong performance also echoed across global markets, with the MSCI® EAFE® (Europe, Australasia, Far East) Index rising 54.63%. In the fixed-income arena, as credit conditions improved, investors who shifted into higher-risk vehicles were generally rewarded with strong returns. High-yield bonds were standouts, with The BofA Merrill Lynch US High Yield Constrained Index^SM posting a 56.95% gain during the period, far outpacing the 7.69% rise in Barclays Capital U.S. Aggregate Bond Index - a broad measure of the domestic investment-grade universe - which was weighed down by the weak performance of ultra-safe U.S. Treasury securities.

Comments from Jonathan Shelon and Christopher Sharpe, Co-Portfolio Managers of Fidelity Advisor Freedom Funds®: The Fidelity Advisor Freedom Funds experienced a period of solid performance for the year. In absolute terms, all of the Advisor Freedom Funds posted exceptional double-digit gains during the 12-month period. (For specific Fund results, please refer to the performance section of this report.) The longer-dated and more-equity-oriented Funds advanced the most, compared with results for the shorter-dated and more-conservatively positioned Funds. In relative terms, all of the Funds outpaced their composite indexes, driven by strong outperformance within almost every asset class during the period. Our underlying investment-grade holdings strongly outpaced the Barclays Capital U.S. Aggregate Bond Index. Fueling our success within the investment-grade category was Fidelity® Series Investment Grade Bond Fund, which benefited from its positioning in more credit-sensitive, higher-yielding issues. Our out-of-benchmark allocation to high-yield securities - an asset class that turned in remarkable results - also added meaningfully to performance, led by our sole investment in the category, Fidelity Advisor High Income Advantage Fund. Lastly, within the short-term asset class, our underlying funds handily topped the Barclays Capital U.S. 3 Month Treasury Bellwether Index, which rose 0.19%. Shifting to the equity category, our domestic equities outperformed the Dow Jones U.S. Total Stock Market Index^SM, which advanced 52.62% during the past 12 months. Four of the nine underlying funds in the domestic equity class beat their respective benchmarks, with Fidelity Series Small Cap Opportunities Fund and Fidelity Advisor Large Cap Fund contributing meaningfully, bolstered by solid stock selection. Developed foreign equities, as measured by the MSCI EAFE, pushed higher than domestic equities. However, nearly all of our underlying funds underperformed their respective benchmark indexes. The performance for our international funds was hurt by an emphasis on higher-quality securities, which didn't keep pace with the riskier stocks investors favored during the period.

The views expressed above reflect those of the portfolio manager(s) only through the end of the period as stated on the cover of this report and do not necessarily represent the views of Fidelity or any other person in the Fidelity organization. Any such views are subject to change at any time based upon market or other conditions and Fidelity disclaims any responsibility to update such views. These views may not be relied on as investment advice and, because investment decisions for a Fidelity fund are based on numerous factors, may not be relied on as an indication of trading intent on behalf of any Fidelity fund.

Annual Report

Shareholder Expense Example

As a shareholder of a Fund, you incur two types of costs: (1) transaction costs, including sales charges (loads) on purchase payments or redemption proceeds, and (2) ongoing costs, including distribution and/or service (12b-1) fees and other Fund expenses. This Example is intended to help you understand your ongoing costs (in dollars) of investing in the Funds and to compare these costs with the ongoing costs of investing in other mutual funds.

The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (October 1, 2009 to March 31, 2010).

Actual Expenses

The first line of the accompanying table for each class of each fund provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000.00 (for example, an $8,600 account value divided by $1,000.00 = 8.6), then multiply the result by the number in the first line for a class of the fund under the heading entitled "Expenses Paid During Period" to estimate the expenses you paid on your account during this period. In addition, each Fund, as a shareholder in underlying Fidelity Funds, will indirectly bear its pro-rata share of the fees and expenses incurred by the underlying Fidelity Funds. These fees and expenses are not included in each Fund's annualized expense ratio used to calculate the expense estimates in the table below.

Hypothetical Example for Comparison Purposes

The second line of the accompanying table for each class of each fund provides information about hypothetical account values and hypothetical expenses based on a Class' actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Class' actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds. In addition, each Fund, as a shareholder in underlying Fidelity Funds, will indirectly bear its pro-rata share of the fees and expenses incurred by the underlying Fidelity Funds. These fees and expenses are not included in each Fund's annualized expense ratio used to calculate the expense estimates in the table below.

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transaction costs. Therefore, the second line of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.

	Annualized Expense Ratio	Beginning Account Value October 1, 2009	Ending Account Value March 31, 2010	Expenses Paid During Period* October 1, 2009 to March 31, 2010
Advisor Freedom Income
Class A	.25%
Actual		$ 1,000.00	$ 1,044.30	$ 1.27
Hypothetical ^A		$ 1,000.00	$ 1,023.68	$ 1.26
Class T	.50%
Actual		$ 1,000.00	$ 1,043.00	$ 2.55
Hypothetical ^A		$ 1,000.00	$ 1,022.44	$ 2.52
Class B	1.00%
Actual		$ 1,000.00	$ 1,039.30	$ 5.08
Hypothetical ^A		$ 1,000.00	$ 1,019.95	$ 5.04
Class C	1.00%
Actual		$ 1,000.00	$ 1,039.30	$ 5.08
Hypothetical ^A		$ 1,000.00	$ 1,019.95	$ 5.04
Institutional Class	.00%
Actual		$ 1,000.00	$ 1,045.60	$ .00
Hypothetical ^A		$ 1,000.00	$ 1,024.93	$ .00
Advisor Freedom 2005
Class A	.25%
Actual		$ 1,000.00	$ 1,061.40	$ 1.28
Hypothetical ^A		$ 1,000.00	$ 1,023.68	$ 1.26
Class T	.50%
Actual		$ 1,000.00	$ 1,060.60	$ 2.57
Hypothetical ^A		$ 1,000.00	$ 1,022.44	$ 2.52
	Annualized Expense Ratio	Beginning Account Value October 1, 2009	Ending Account Value March 31, 2010	Expenses Paid During Period* October 1, 2009 to March 31, 2010
Class B	1.00%
Actual		$ 1,000.00	$ 1,058.30	$ 5.13
Hypothetical ^A		$ 1,000.00	$ 1,019.95	$ 5.04
Class C	1.00%
Actual		$ 1,000.00	$ 1,057.90	$ 5.13
Hypothetical ^A		$ 1,000.00	$ 1,019.95	$ 5.04
Institutional Class	.00%
Actual		$ 1,000.00	$ 1,063.70	$ .00
Hypothetical ^A		$ 1,000.00	$ 1,024.93	$ .00
Advisor Freedom 2010
Class A	.25%
Actual		$ 1,000.00	$ 1,066.70	$ 1.29
Hypothetical ^A		$ 1,000.00	$ 1,023.68	$ 1.26
Class T	.50%
Actual		$ 1,000.00	$ 1,065.00	$ 2.57
Hypothetical ^A		$ 1,000.00	$ 1,022.44	$ 2.52
Class B	1.00%
Actual		$ 1,000.00	$ 1,063.10	$ 5.14
Hypothetical ^A		$ 1,000.00	$ 1,019.95	$ 5.04
Class C	1.00%
Actual		$ 1,000.00	$ 1,062.60	$ 5.14
Hypothetical ^A		$ 1,000.00	$ 1,019.95	$ 5.04
Institutional Class	.00%
Actual		$ 1,000.00	$ 1,068.20	$ .00
Hypothetical ^A		$ 1,000.00	$ 1,024.93	$ .00
Advisor Freedom 2015
Class A	.25%
Actual		$ 1,000.00	$ 1,067.90	$ 1.29
Hypothetical ^A		$ 1,000.00	$ 1,023.68	$ 1.26
Class T	.50%
Actual		$ 1,000.00	$ 1,067.00	$ 2.58
Hypothetical ^A		$ 1,000.00	$ 1,022.44	$ 2.52
Class B	1.00%
Actual		$ 1,000.00	$ 1,064.60	$ 5.15
Hypothetical ^A		$ 1,000.00	$ 1,019.95	$ 5.04
Class C	1.00%
Actual		$ 1,000.00	$ 1,064.80	$ 5.15
Hypothetical ^A		$ 1,000.00	$ 1,019.95	$ 5.04
Institutional Class	.00%
Actual		$ 1,000.00	$ 1,069.20	$ .00
Hypothetical ^A		$ 1,000.00	$ 1,024.93	$ .00
Advisor Freedom 2020
Class A	.25%
Actual		$ 1,000.00	$ 1,077.70	$ 1.30
Hypothetical ^A		$ 1,000.00	$ 1,023.68	$ 1.26
Class T	.50%
Actual		$ 1,000.00	$ 1,075.70	$ 2.59
Hypothetical ^A		$ 1,000.00	$ 1,022.44	$ 2.52
	Annualized Expense Ratio	Beginning Account Value October 1, 2009	Ending Account Value March 31, 2010	Expenses Paid During Period* October 1, 2009 to March 31, 2010
Class B	1.00%
Actual		$ 1,000.00	$ 1,074.30	$ 5.17
Hypothetical ^A		$ 1,000.00	$ 1,019.95	$ 5.04
Class C	1.00%
Actual		$ 1,000.00	$ 1,073.90	$ 5.17
Hypothetical ^A		$ 1,000.00	$ 1,019.95	$ 5.04
Institutional Class	.00%
Actual		$ 1,000.00	$ 1,079.00	$ .00
Hypothetical ^A		$ 1,000.00	$ 1,024.93	$ .00
Advisor Freedom 2025
Class A	.25%
Actual		$ 1,000.00	$ 1,082.50	$ 1.30
Hypothetical ^A		$ 1,000.00	$ 1,023.68	$ 1.26
Class T	.50%
Actual		$ 1,000.00	$ 1,081.40	$ 2.59
Hypothetical ^A		$ 1,000.00	$ 1,022.44	$ 2.52
Class B	1.00%
Actual		$ 1,000.00	$ 1,079.40	$ 5.18
Hypothetical ^A		$ 1,000.00	$ 1,019.95	$ 5.04
Class C	1.00%
Actual		$ 1,000.00	$ 1,078.90	$ 5.18
Hypothetical ^A		$ 1,000.00	$ 1,019.95	$ 5.04
Institutional Class	.00%
Actual		$ 1,000.00	$ 1,084.60	$ .00
Hypothetical ^A		$ 1,000.00	$ 1,024.93	$ .00
Advisor Freedom 2030
Class A	.25%
Actual		$ 1,000.00	$ 1,087.10	$ 1.30
Hypothetical ^A		$ 1,000.00	$ 1,023.68	$ 1.26
Class T	.50%
Actual		$ 1,000.00	$ 1,085.50	$ 2.60
Hypothetical ^A		$ 1,000.00	$ 1,022.44	$ 2.52
Class B	1.00%
Actual		$ 1,000.00	$ 1,083.10	$ 5.19
Hypothetical ^A		$ 1,000.00	$ 1,019.95	$ 5.04
Class C	1.00%
Actual		$ 1,000.00	$ 1,082.50	$ 5.19
Hypothetical ^A		$ 1,000.00	$ 1,019.95	$ 5.04
Institutional Class	.00%
Actual		$ 1,000.00	$ 1,088.40	$ .00
Hypothetical ^A		$ 1,000.00	$ 1,024.93	$ .00
Advisor Freedom 2035
Class A	.25%
Actual		$ 1,000.00	$ 1,090.50	$ 1.30
Hypothetical ^A		$ 1,000.00	$ 1,023.68	$ 1.26
Class T	.50%
Actual		$ 1,000.00	$ 1,089.10	$ 2.60
Hypothetical ^A		$ 1,000.00	$ 1,022.44	$ 2.52
	Annualized Expense Ratio	Beginning Account Value October 1, 2009	Ending Account Value March 31, 2010	Expenses Paid During Period* October 1, 2009 to March 31, 2010
Class B	1.00%
Actual		$ 1,000.00	$ 1,086.10	$ 5.20
Hypothetical ^A		$ 1,000.00	$ 1,019.95	$ 5.04
Class C	1.00%
Actual		$ 1,000.00	$ 1,085.30	$ 5.20
Hypothetical ^A		$ 1,000.00	$ 1,019.95	$ 5.04
Institutional Class	.00%
Actual		$ 1,000.00	$ 1,091.70	$ .00
Hypothetical ^A		$ 1,000.00	$ 1,024.93	$ .00
Advisor Freedom 2040
Class A	.25%
Actual		$ 1,000.00	$ 1,091.30	$ 1.30
Hypothetical ^A		$ 1,000.00	$ 1,023.68	$ 1.26
Class T	.50%
Actual		$ 1,000.00	$ 1,090.70	$ 2.61
Hypothetical ^A		$ 1,000.00	$ 1,022.44	$ 2.52
Class B	1.00%
Actual		$ 1,000.00	$ 1,087.60	$ 5.20
Hypothetical ^A		$ 1,000.00	$ 1,019.95	$ 5.04
Class C	1.00%
Actual		$ 1,000.00	$ 1,087.90	$ 5.21
Hypothetical ^A		$ 1,000.00	$ 1,019.95	$ 5.04
Institutional Class	.00%
Actual		$ 1,000.00	$ 1,093.50	$ .00
Hypothetical ^A		$ 1,000.00	$ 1,024.93	$ .00
Advisor Freedom 2045
Class A	.25%
Actual		$ 1,000.00	$ 1,092.90	$ 1.30
Hypothetical ^A		$ 1,000.00	$ 1,023.68	$ 1.26
Class T	.50%
Actual		$ 1,000.00	$ 1,091.50	$ 2.61
Hypothetical ^A		$ 1,000.00	$ 1,022.44	$ 2.52
Class B	1.00%
Actual		$ 1,000.00	$ 1,089.40	$ 5.21
Hypothetical ^A		$ 1,000.00	$ 1,019.95	$ 5.04
Class C	1.00%
Actual		$ 1,000.00	$ 1,088.60	$ 5.21
Hypothetical ^A		$ 1,000.00	$ 1,019.95	$ 5.04
Institutional Class	.00%
Actual		$ 1,000.00	$ 1,095.40	$ .00
Hypothetical ^A		$ 1,000.00	$ 1,024.93	$ .00
Advisor Freedom 2050
Class A	.25%
Actual		$ 1,000.00	$ 1,093.90	$ 1.31
Hypothetical ^A		$ 1,000.00	$ 1,023.68	$ 1.26
Class T	.50%
Actual		$ 1,000.00	$ 1,092.60	$ 2.61
Hypothetical ^A		$ 1,000.00	$ 1,022.44	$ 2.52
	Annualized Expense Ratio	Beginning Account Value October 1, 2009	Ending Account Value March 31, 2010	Expenses Paid During Period* October 1, 2009 to March 31, 2010
Class B	1.00%
Actual		$ 1,000.00	$ 1,090.80	$ 5.21
Hypothetical ^A		$ 1,000.00	$ 1,019.95	$ 5.04
Class C	1.00%
Actual		$ 1,000.00	$ 1,090.50	$ 5.21
Hypothetical ^A		$ 1,000.00	$ 1,019.95	$ 5.04
Institutional Class	.00%
Actual		$ 1,000.00	$ 1,096.40	$ .00
Hypothetical ^A		$ 1,000.00	$ 1,024.93	$ .00

^A 5% return per year before expenses

* Expenses are equal to each Class' annualized expense ratio, multiplied by the average account value over the period, multiplied by 182/ 365 (to reflect the one-half year period). The fees and expenses of the underlying Fidelity Funds in which the Fund invests are not included in each class' annualized expense ratio.

Annual Report

Fidelity Advisor Freedom Income Fund

Investment Changes (Unaudited)

Fund Holdings as of March 31, 2010
	% of fund's net assets	% of fund's net assets 6 months ago
Commodity Funds
Fidelity Series Commodity Strategy Fund	0.7	0.0
Domestic Equity Funds
Fidelity Advisor Equity Growth Fund Institutional Class	1.8	2.1
Fidelity Advisor Equity Income Fund Institutional Class	1.5	2.7
Fidelity Advisor Growth & Income Fund Institutional Class	2.7	3.3
Fidelity Advisor Large Cap Fund Institutional Class	2.5	3.0
Fidelity Advisor Small Cap Fund Institutional Class	0.8	1.0
Fidelity Series 100 Index Fund	1.7	1.6
Fidelity Series All-Sector Equity Fund	3.5	4.1
Fidelity Series Large Cap Value Fund	2.1	1.7
Fidelity Series Small Cap Opportunities Fund	0.9	1.0
	17.5	20.5
Developed International Equity Funds
Fidelity Advisor Diversified International Fund Institutional Class	0.8	0.0
Fidelity Advisor Overseas Fund Institutional Class	0.8	0.0
Fidelity Series International Growth Fund	0.2	0.0
Fidelity Series International Small Cap Fund	0.0*	0.0
Fidelity Series International Value Fund	0.2	0.0
	2.0	0.0
Emerging Markets Equity Funds
Fidelity Series Emerging Markets Fund	0.2	0.0
High Yield Bond Funds
Fidelity Advisor High Income Advantage Fund Institutional Class	5.1	5.4
Inflation-Protected Bond Funds
Fidelity Series Inflation-Protected Bond Index Fund	4.8	0.5
Investment Grade Bond Funds
Fidelity Advisor Strategic Real Return Fund Institutional Class	5.4	6.8
Fidelity Advisor Total Bond Fund Institutional Class	2.2	7.6
Fidelity Series Investment Grade Bond Fund	22.5	22.1
	30.1	36.5
Short-Term Funds
Fidelity Advisor Short Fixed-Income Fund Institutional Class	19.8	18.8
Fidelity Institutional Money Market Portfolio Institutional Class	19.8	18.3
	39.6	37.1
	100.0	100.0

* Amount represents less than 0.1%

Asset Allocation (% of fund's net assets)
Current
	Commodity Funds	0.7%
	Domestic Equity Funds	17.5%
	Developed International Equity Funds	2.0%
	Emerging Markets Equity Funds	0.2%
	High Yield Bond Funds	5.1%
	Inflation-Protected Bond Funds	4.8%
	Investment Grade Bond Funds	30.1%
	Short-Term Funds	39.6%

fid122

Six months ago
	Domestic Equity Funds	20.5%
	High Yield Bond Funds	5.4%
	Inflation-Protected Bond Funds	0.5%
	Investment Grade Bond Funds	36.5%
	Short-Term Funds	37.1%

fid129

Expected
	Commodity Funds	1.7%
	Domestic Equity Funds	13.7%
	Developed International Equity Funds	4.0%
	Emerging Markets Equity Funds	0.6%
	High Yield Bond Funds	5.0%
	Inflation-Protected Bond Funds	10.3%
	Investment Grade Bond Funds	24.7%
	Short-Term Funds	40.0%

fid139

The six months ago allocation is based on the fund's holdings as of September 30, 2009. The current allocation is based on the fund's holdings as of March 31, 2010. The expected allocation represents the fund's anticipated allocation at September 30, 2010.

Annual Report

Fidelity Advisor Freedom Income Fund

Investments March 31, 2010

Showing Percentage of Net Assets

Domestic Equity Funds - 18.2%
	Shares		Value
Commodity Funds - 0.7%
Fidelity Series Commodity Strategy Fund	158,891		$ 1,665,180
Domestic Equity Funds - 17.5%
Fidelity Advisor Equity Growth Fund Institutional Class (a)	83,809		4,151,918
Fidelity Advisor Equity Income Fund Institutional Class	153,018		3,413,829
Fidelity Advisor Growth & Income Fund Institutional Class	391,142		6,223,070
Fidelity Advisor Large Cap Fund Institutional Class	346,587		5,975,157
Fidelity Advisor Small Cap Fund Institutional Class (a)	79,730		1,896,779
Fidelity Series 100 Index Fund	468,327		3,882,430
Fidelity Series All-Sector Equity Fund	677,608		8,144,854
Fidelity Series Large Cap Value Fund	418,950		4,972,936
Fidelity Series Small Cap Opportunities Fund (a)	230,639		2,057,302
TOTAL DOMESTIC EQUITY FUNDS			40,718,275
TOTAL DOMESTIC EQUITY FUNDS (Cost $40,066,032)		42,383,455
International Equity Funds - 2.2%

Developed International Equity Funds - 2.0%
Fidelity Advisor Diversified International Fund Institutional Class	119,316		1,806,445
Fidelity Advisor Overseas Fund Institutional Class	108,045		1,812,993
Fidelity Series International Growth Fund	44,179		439,141
Fidelity Series International Small Cap Fund	9,519		97,383
Fidelity Series International Value Fund	45,361		438,189
TOTAL DEVELOPED INTERNATIONAL EQUITY FUNDS			4,594,151
Emerging Markets Equity Funds - 0.2%
Fidelity Series Emerging Markets Fund	36,862		617,809
TOTAL INTERNATIONAL EQUITY FUNDS (Cost $5,006,075)		5,211,960
Bond Funds - 40.0%
	Shares		Value
High Yield Bond Funds - 5.1%
Fidelity Advisor High Income Advantage Fund Institutional Class	1,320,969		$ 11,862,298
Inflation-Protected Bond Funds - 4.8%
Fidelity Series Inflation-Protected Bond Index Fund	1,079,910		11,079,874
Investment Grade Bond Funds - 30.1%
Fidelity Advisor Strategic Real Return Fund Institutional Class	1,453,432		12,572,188
Fidelity Advisor Total Bond Fund Institutional Class	475,233		5,051,730
Fidelity Series Investment Grade Bond Fund	4,588,207		52,489,084
TOTAL INVESTMENT GRADE BOND FUNDS			70,113,002
TOTAL BOND FUNDS (Cost $90,353,320)		93,055,174
Short-Term Funds - 39.6%

Fidelity Advisor Short Fixed-Income Fund Institutional Class	5,064,579		46,188,960
Fidelity Institutional Money Market Portfolio Institutional Class	46,112,457		46,112,457
TOTAL SHORT-TERM FUNDS (Cost $92,775,876)		92,301,417
TOTAL INVESTMENT PORTFOLIO - 100.0% (Cost $228,201,303)			232,952,006
NET OTHER ASSETS - 0.0%			(59,659)
NET ASSETS - 100%		$ 232,892,347

Legend

(a) Non-income producing

Other Information

All investments are categorized as Level 1 under the Fair Value Hierarchy. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, please refer to the Security Valuation section in the accompanying Notes to Financial Statements.

Income Tax Information

At March 31, 2010, the fund had a capital loss carryforward of approximately $2,021,981 all of which will expire on March 31, 2017.

See accompanying notes which are an integral part of the financial statements.

Annual Report

Fidelity Advisor Freedom Income Fund

Financial Statements

Statement of Assets and Liabilities

	March 31, 2010
Assets
Investment in securities, at value (cost $228,201,303) - See accompanying schedule		$ 232,952,006
Receivable for investments sold		307,439
Receivable for fund shares sold		396,564
Total assets		233,656,009

Liabilities
Payable for investments purchased	$ 36,405
Payable for fund shares redeemed	659,195
Distribution fees payable	68,062
Total liabilities		763,662

Net Assets		$ 232,892,347
Net Assets consist of:
Paid in capital		$ 232,879,862
Undistributed net investment income		298,355
Accumulated undistributed net realized gain (loss) on investments		(5,036,573)
Net unrealized appreciation (depreciation) on investments		4,750,703
Net Assets		$ 232,892,347

Calculation of Maximum Offering Price Class A: Net Asset Value and redemption price per share ($142,691,335 ÷ 13,789,793 shares)		$ 10.35

Maximum offering price per share (100/94.25 of $10.35)		$ 10.98
Class T: Net Asset Value and redemption price per share ($52,046,674 ÷ 5,033,292 shares)		$ 10.34

Maximum offering price per share (100/96.50 of $10.34)		$ 10.72
Class B: Net Asset Value and offering price per share ($5,319,345 ÷ 514,746 shares)^A		$ 10.33

Class C: Net Asset Value and offering price per share ($14,697,499 ÷ 1,422,415 shares)^A		$ 10.33

Institutional Class: Net Asset Value, offering price and redemption price per share ($18,137,494 ÷ 1,749,577 shares)		$ 10.37

^A Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge.

Statement of Operations

	Year ended March 31, 2010
Investment Income
Income distributions from underlying funds		$ 4,900,431

Expenses
Distribution fees	$ 727,017
Independent trustees' compensation	665
Total expenses before reductions	727,682
Expense reductions	(665)	727,017
Net investment income (loss)		4,173,414
Realized and Unrealized Gain (Loss) Realized gain (loss) on sale of underlying fund shares	884,619
Capital gain distributions from underlying funds	1,510,363	2,394,982
Change in net unrealized appreciation (depreciation) on underlying funds		30,437,609
Net gain (loss)		32,832,591
Net increase (decrease) in net assets resulting from operations		$ 37,006,005

See accompanying notes which are an integral part of the financial statements.

Annual Report

Statement of Changes in Net Assets

	Year ended March 31, 2010	Year ended March 31, 2009
Increase (Decrease) in Net Assets
Operations
Net investment income (loss)	$ 4,173,414	$ 4,836,274
Net realized gain (loss)	2,394,982	(4,563,832)
Change in net unrealized appreciation (depreciation)	30,437,609	(24,059,265)
Net increase (decrease) in net assets resulting from operations	37,006,005	(23,786,823)
Distributions to shareholders from net investment income	(4,185,152)	(4,951,780)
Distributions to shareholders from net realized gain	(1,201,062)	(1,910,005)
Total distributions	(5,386,214)	(6,861,785)
Share transactions - net increase (decrease)	40,627,765	29,566,421
Total increase (decrease) in net assets	72,247,556	(1,082,187)

Net Assets
Beginning of period	160,644,791	161,726,978
End of period (including undistributed net investment income of $298,355 and undistributed net investment income of $310,093, respectively)	$ 232,892,347	$ 160,644,791

Financial Highlights - Class A

Years ended March 31,	2010	2009	2008	2007	2006
Selected Per-Share Data
Net asset value, beginning of period	$ 8.74	$ 10.46	$ 10.74	$ 10.52	$ 10.30
Income from Investment Operations
Net investment income (loss) ^C	.22	.29	.40	.36	.29
Net realized and unrealized gain (loss)	1.66	(1.60)	(.21)	.29	.23
Total from investment operations	1.88	(1.31)	.19	.65	.52
Distributions from net investment income	(.22)	(.30)	(.40)	(.35)	(.27)
Distributions from net realized gain	(.06)	(.11)	(.07)	(.08)	(.04)
Total distributions	(.27)^H	(.41)	(.47)^G	(.43)	(.30)^F
Net asset value, end of period	$ 10.35	$ 8.74	$ 10.46	$ 10.74	$ 10.52
Total Return^A,B	21.74%	(12.78)%	1.73%	6.38%	5.12%
Ratios to Average Net Assets^D,E
Expenses before reductions	.25%	.25%	.25%	.25%	.26%
Expenses net of fee waivers, if any	.25%	.25%	.25%	.25%	.26%
Expenses net of all reductions	.25%	.25%	.25%	.25%	.26%
Net investment income (loss)	2.19%	3.03%	3.77%	3.46%	2.83%
Supplemental Data
Net assets, end of period (000 omitted)	$ 142,691	$ 93,865	$ 87,469	$ 49,721	$ 18,524
Portfolio turnover rate	31%	44%	56%	38%	21%

^A Total returns would have been lower had certain expenses not been reduced during the periods shown.

^B Total returns do not include the effect of the sales charges.

^C Calculated based on average shares outstanding during the period.

^D Amounts do not include the activity of the underlying funds.

^E Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the investment companies in which the Fund invests.

^F Total distributions of $.30 per share is comprised of distributions from net investment income of $.265 and distributions from net realized gain of $.035 per share.

^G Total distributions of $.47 per share is comprised of distributions from net investment income of $.403 and distributions from net realized gain of $.066 per share.

^H Total distributions of $.27 per share is comprised of distributions from net investment income of $.217 and distributions from net realized gain of $.056 per share.

See accompanying notes which are an integral part of the financial statements.

Annual Report

Financial Highlights - Class T

Years ended March 31,	2010	2009	2008	2007	2006
Selected Per-Share Data
Net asset value, beginning of period	$ 8.73	$ 10.45	$ 10.73	$ 10.51	$ 10.30
Income from Investment Operations
Net investment income (loss) ^C	.19	.27	.38	.34	.27
Net realized and unrealized gain (loss)	1.67	(1.61)	(.22)	.29	.22
Total from investment operations	1.86	(1.34)	.16	.63	.49
Distributions from net investment income	(.19)	(.27)	(.38)	(.33)	(.24)
Distributions from net realized gain	(.06)	(.11)	(.07)	(.08)	(.04)
Total distributions	(.25) ^G	(.38)	(.44) ^F	(.41)	(.28)
Net asset value, end of period	$ 10.34	$ 8.73	$ 10.45	$ 10.73	$ 10.51
Total Return^A,B	21.47%	(13.03)%	1.48%	6.11%	4.78%
Ratios to Average Net Assets^D,E
Expenses before reductions	.50%	.50%	.50%	.50%	.51%
Expenses net of fee waivers, if any	.50%	.50%	.50%	.50%	.51%
Expenses net of all reductions	.50%	.50%	.50%	.50%	.51%
Net investment income (loss)	1.94%	2.78%	3.52%	3.21%	2.58%
Supplemental Data
Net assets, end of period (000 omitted)	$ 52,047	$ 42,675	$ 44,882	$ 39,739	$ 32,469
Portfolio turnover rate	31%	44%	56%	38%	21%

^A Total returns would have been lower had certain expenses not been reduced during the periods shown.

^B Total returns do not include the effect of the sales charges.

^C Calculated based on average shares outstanding during the period.

^D Amounts do not include the activity of the underlying funds.

^F Total distributions of $.44 per share is comprised of distributions from net investment income of $.377 and distributions from net realized gain of $.066 per share.

^G Total distributions of $.25 per share is comprised of distributions from net investment income of $.193 and distributions from net realized gain of $.056 per share.

Financial Highlights - Class B

Years ended March 31,	2010	2009	2008	2007	2006
Selected Per-Share Data
Net asset value, beginning of period	$ 8.72	$ 10.44	$ 10.72	$ 10.50	$ 10.29
Income from Investment Operations
Net investment income (loss) ^C	.14	.22	.32	.29	.22
Net realized and unrealized gain (loss)	1.67	(1.60)	(.21)	.28	.21
Total from investment operations	1.81	(1.38)	.11	.57	.43
Distributions from net investment income	(.14)	(.23)	(.32)	(.27)	(.19)
Distributions from net realized gain	(.06)	(.11)	(.07)	(.08)	(.04)
Total distributions	(.20)^H	(.34)	(.39)^G	(.35)	(.22)^F
Net asset value, end of period	$ 10.33	$ 8.72	$ 10.44	$ 10.72	$ 10.50
Total Return^A,B	20.86%	(13.48)%	.97%	5.57%	4.27%
Ratios to Average Net Assets^D,E
Expenses before reductions	1.00%	1.00%	1.00%	1.00%	1.01%
Expenses net of fee waivers, if any	1.00%	1.00%	1.00%	1.00%	1.01%
Expenses net of all reductions	1.00%	1.00%	1.00%	1.00%	1.01%
Net investment income (loss)	1.44%	2.28%	3.02%	2.71%	2.08%
Supplemental Data
Net assets, end of period (000 omitted)	$ 5,319	$ 4,282	$ 5,539	$ 4,993	$ 4,873
Portfolio turnover rate	31%	44%	56%	38%	21%

^A Total returns would have been lower had certain expenses not been reduced during the periods shown.

^B Total returns do not include the effect of the contingent deferred sales charge.

^C Calculated based on average shares outstanding during the period.

^D Amounts do not include the activity of the underlying funds.

^F Total distributions of $.22 per share is comprised of distributions from net investment income of $.189 and distributions from net realized gain of $.035 per share.

^G Total distributions of $.39 per share is comprised of distributions from net investment income of $.322 and distributions from net realized gain of $.066 per share.

^H Total distributions of $.20 per share is comprised of distributions from net investment income of $.142 and distributions from net realized gain of $.056 per share.

See accompanying notes which are an integral part of the financial statements.

Annual Report

Financial Highlights - Class C

Years ended March 31,	2010	2009	2008	2007	2006
Selected Per-Share Data
Net asset value, beginning of period	$ 8.72	$ 10.43	$ 10.71	$ 10.50	$ 10.28
Income from Investment Operations
Net investment income (loss) ^C	.14	.22	.32	.29	.22
Net realized and unrealized gain (loss)	1.67	(1.60)	(.21)	.27	.22
Total from investment operations	1.81	(1.38)	.11	.56	.44
Distributions from net investment income	(.14)	(.22)	(.32)	(.27)	(.19)
Distributions from net realized gain	(.06)	(.11)	(.07)	(.08)	(.04)
Total distributions	(.20) ^H	(.33)	(.39) ^G	(.35)	(.22)^F
Net asset value, end of period	$ 10.33	$ 8.72	$ 10.43	$ 10.71	$ 10.50
Total Return^A,B	20.83%	(13.41)%	.97%	5.48%	4.37%
Ratios to Average Net Assets^D,E
Expenses before reductions	1.00%	1.00%	1.00%	1.00%	1.01%
Expenses net of fee waivers, if any	1.00%	1.00%	1.00%	1.00%	1.01%
Expenses net of all reductions	1.00%	1.00%	1.00%	1.00%	1.01%
Net investment income (loss)	1.44%	2.28%	3.02%	2.71%	2.08%
Supplemental Data
Net assets, end of period (000 omitted)	$ 14,697	$ 11,362	$ 14,718	$ 13,279	$ 13,678
Portfolio turnover rate	31%	44%	56%	38%	21%

^A Total returns would have been lower had certain expenses not been reduced during the periods shown.

^B Total returns do not include the effect of the contingent deferred sales charge.

^C Calculated based on average shares outstanding during the period.

^D Amounts do not include the activity of the underlying funds.

^F Total distributions of $.22 per share is comprised of distributions from net investment income of $.189 and distributions from net realized gain of $.035 per share.

^G Total distributions of $.39 per share is comprised of distributions from net investment income of $.323 and distributions from net realized gain of $.066 per share.

^H Total distributions of $.20 per share is comprised of distributions from net investment income of $.140 and distributions from net realized gain of $.056 per share.

Financial Highlights - Institutional Class

Years ended March 31,	2010	2009	2008	2007	2006
Selected Per-Share Data
Net asset value, beginning of period	$ 8.75	$ 10.48	$ 10.76	$ 10.53	$ 10.31
Income from Investment Operations
Net investment income (loss) ^B	.24	.31	.43	.39	.32
Net realized and unrealized gain (loss)	1.68	(1.61)	(.21)	.30	.23
Total from investment operations	1.92	(1.30)	.22	.69	.55
Distributions from net investment income	(.24)	(.32)	(.43)	(.38)	(.29)
Distributions from net realized gain	(.06)	(.11)	(.07)	(.08)	(.04)
Total distributions	(.30)^G	(.43)	(.50)^F	(.46)	(.33)
Net asset value, end of period	$ 10.37	$ 8.75	$ 10.48	$ 10.76	$ 10.53
Total Return^A	22.16%	(12.63)%	2.00%	6.72%	5.39%
Ratios to Average Net Assets^C,E
Expenses before reductions	.00% ^D	.00% ^D	.00% ^D	.00% ^D	.01%
Expenses net of fee waivers, if any	.00%	.00%	.00%	.00%	.01%
Expenses net of all reductions	.00%	.00%	.00%	.00%	.01%
Net investment income (loss)	2.44%	3.28%	4.02%	3.71%	3.08%
Supplemental Data
Net assets, end of period (000 omitted)	$ 18,137	$ 8,461	$ 9,119	$ 2,800	$ 1,134
Portfolio turnover rate	31%	44%	56%	38%	21%

^A Total returns would have been lower had certain expenses not been reduced during the periods shown.

^B Calculated based on average shares outstanding during the period.

^C Amounts do not include the activity of the underlying funds.

^D Amount represents less than .01%.

^F Total distributions of $.50 per share is comprised of distributions from net investment income of $.432 and distributions from net realized gain of $.066 per share.

^G Total distributions of $.30 per share is comprised of distributions from net investment income of $.243 and distributions from net realized gain of $.056 per share.

See accompanying notes which are an integral part of the financial statements.

Annual Report

Fidelity Advisor Freedom 2005 Fund

Investment Changes (Unaudited)

Fund Holdings as of March 31, 2010
	% of fund's net assets	% of fund's net assets 6 months ago
Commodity Funds
Fidelity Series Commodity Strategy Fund	1.9	0.0
Domestic Equity Funds
Fidelity Advisor Equity Growth Fund Institutional Class	3.5	3.8
Fidelity Advisor Equity Income Fund Institutional Class	2.8	5.0
Fidelity Advisor Growth & Income Fund Institutional Class	5.2	6.1
Fidelity Advisor Large Cap Fund Institutional Class	5.0	5.3
Fidelity Advisor Small Cap Fund Institutional Class	1.6	1.8
Fidelity Series 100 Index Fund	3.2	3.1
Fidelity Series All-Sector Equity Fund	6.8	7.7
Fidelity Series Large Cap Value Fund	4.1	3.1
Fidelity Series Small Cap Opportunities Fund	1.7	1.9
	33.9	37.8
Developed International Equity Funds
Fidelity Advisor Diversified International Fund Institutional Class	3.2	3.6
Fidelity Advisor Overseas Fund Institutional Class	3.2	3.5
Fidelity Series International Growth Fund	0.8	0.0
Fidelity Series International Small Cap Fund	0.1	0.0
Fidelity Series International Value Fund	0.7	0.0
	8.0	7.1
Emerging Markets Equity Funds
Fidelity Series Emerging Markets Fund	1.1	0.7
High Yield Bond Funds
Fidelity Advisor High Income Advantage Fund Institutional Class	5.1	5.3
Inflation-Protected Bond Funds
Fidelity Series Inflation-Protected Bond Index Fund	4.0	0.4
Investment Grade Bond Funds
Fidelity Advisor Strategic Real Return Fund Institutional Class	4.9	6.2
Fidelity Advisor Total Bond Fund Institutional Class	2.0	6.8
Fidelity Series Investment Grade Bond Fund	20.7	20.4
	27.6	33.4
Short-Term Funds
Fidelity Advisor Short Fixed-Income Fund Institutional Class	9.2	7.7
Fidelity Institutional Money Market Portfolio Institutional Class	9.2	7.6
	18.4	15.3
	100.0	100.0

Asset Allocation (% of fund's net assets)
Current
	Commodity Funds	1.9%
	Domestic Equity Funds	33.9%
	Developed International Equity Funds	8.0%
	Emerging Markets Equity Funds	1.1%
	High Yield Bond Funds	5.1%
	Inflation-Protected Bond Funds	4.0%
	Investment Grade Bond Funds	27.6%
	Short-Term Funds	18.4%

fid149

Six months ago
	Domestic Equity Funds	37.8%
	Developed International Equity Funds	7.1%
	Emerging Markets Equity Funds	0.7%
	High Yield Bond Funds	5.3%
	Inflation-Protected Bond Funds	0.4%
	Investment Grade Bond Funds	33.4%
	Short-Term Funds	15.3%

fid158

Expected
	Commodity Funds	4.0%
	Domestic Equity Funds	28.0%
	Developed International Equity Funds	9.2%
	Emerging Markets Equity Funds	1.5%
	High Yield Bond Funds	5.0%
	Inflation-Protected Bond Funds	8.7%
	Investment Grade Bond Funds	22.8%
	Short-Term Funds	20.8%

fid168

The fund invests according to an asset allocation strategy that becomes increasingly conservative over time. The six months ago allocation is based on the fund's holdings as of September 30, 2009. The current allocation is based on the fund's holdings as of March 31, 2010. The expected allocation represents the fund's anticipated allocation at September 30, 2010.

Annual Report

Fidelity Advisor Freedom 2005 Fund

Investments March 31, 2010

Showing Percentage of Net Assets

Domestic Equity Funds - 35.8%
	Shares		Value
Commodity Funds - 1.9%
Fidelity Series Commodity Strategy Fund	380,638		$ 3,989,088
Domestic Equity Funds - 33.9%
Fidelity Advisor Equity Growth Fund Institutional Class (a)	146,568		7,260,966
Fidelity Advisor Equity Income Fund Institutional Class	266,442		5,944,313
Fidelity Advisor Growth & Income Fund Institutional Class	684,080		10,883,709
Fidelity Advisor Large Cap Fund Institutional Class	605,222		10,434,021
Fidelity Advisor Small Cap Fund Institutional Class (a)	140,008		3,330,800
Fidelity Series 100 Index Fund	817,836		6,779,858
Fidelity Series All-Sector Equity Fund	1,180,974		14,195,310
Fidelity Series Large Cap Value Fund	730,005		8,665,161
Fidelity Series Small Cap Opportunities Fund (a)	403,263		3,597,110
TOTAL DOMESTIC EQUITY FUNDS			71,091,248
TOTAL DOMESTIC EQUITY FUNDS (Cost $72,991,542)		75,080,336
International Equity Funds - 9.1%

Developed International Equity Funds - 8.0%
Fidelity Advisor Diversified International Fund Institutional Class	442,001		6,691,901
Fidelity Advisor Overseas Fund Institutional Class	401,560		6,738,182
Fidelity Series International Growth Fund	159,415		1,584,584
Fidelity Series International Small Cap Fund	31,465		321,883
Fidelity Series International Value Fund	163,641		1,580,772
TOTAL DEVELOPED INTERNATIONAL EQUITY FUNDS			16,917,322
Emerging Markets Equity Funds - 1.1%
Fidelity Series Emerging Markets Fund	134,274		2,250,434
TOTAL INTERNATIONAL EQUITY FUNDS (Cost $21,692,753)		19,167,756
Bond Funds - 36.7%
	Shares		Value
High Yield Bond Funds - 5.1%
Fidelity Advisor High Income Advantage Fund Institutional Class	1,180,221		$ 10,598,381
Inflation-Protected Bond Funds - 4.0%
Fidelity Series Inflation-Protected Bond Index Fund	823,644		8,450,590
Investment Grade Bond Funds - 27.6%
Fidelity Advisor Strategic Real Return Fund Institutional Class	1,201,883		10,396,292
Fidelity Advisor Total Bond Fund Institutional Class	391,554		4,162,217
Fidelity Series Investment Grade Bond Fund	3,787,493		43,328,918
TOTAL INVESTMENT GRADE BOND FUNDS			57,887,427
TOTAL BOND FUNDS (Cost $75,350,982)		76,936,398
Short-Term Funds - 18.4%

Fidelity Advisor Short Fixed-Income Fund Institutional Class	2,119,062		19,325,844
Fidelity Institutional Money Market Portfolio Institutional Class	19,275,175		19,275,175
TOTAL SHORT-TERM FUNDS (Cost $38,622,224)		38,601,019
TOTAL INVESTMENT PORTFOLIO - 100.0% (Cost $208,657,501)			209,785,509
NET OTHER ASSETS - 0.0%			(52,667)
NET ASSETS - 100%		$ 209,732,842

Legend

(a) Non-income producing

Other Information

Income Tax Information

At March 31, 2010, the fund had a capital loss carryforward of approximately $5,987,852 all of which will expire on March 31, 2017.

See accompanying notes which are an integral part of the financial statements.

Annual Report

Fidelity Advisor Freedom 2005 Fund

Financial Statements

Statement of Assets and Liabilities

	March 31, 2010
Assets
Investment in securities, at value (cost $208,657,501) - See accompanying schedule		$ 209,785,509
Cash		10
Receivable for investments sold		6,321
Receivable for fund shares sold		227,776
Total assets		210,019,616

Liabilities
Payable for investments purchased	$ 41,912
Payable for fund shares redeemed	192,335
Distribution fees payable	52,527
Total liabilities		286,774

Net Assets		$ 209,732,842
Net Assets consist of:
Paid in capital		$ 219,040,792
Undistributed net investment income		513,327
Accumulated undistributed net realized gain (loss) on investments		(10,949,285)
Net unrealized appreciation (depreciation) on investments		1,128,008
Net Assets		$ 209,732,842

Calculation of Maximum Offering Price Class A: Net Asset Value and redemption price per share ($155,481,721 ÷ 14,702,949 shares)		$ 10.57

Maximum offering price per share (100/94.25 of $10.57)		$ 11.21
Class T: Net Asset Value and redemption price per share ($23,112,592 ÷ 2,186,103 shares)		$ 10.57

Maximum offering price per share (100/96.50 of $10.57)		$ 10.95
Class B: Net Asset Value and offering price per share ($2,986,180 ÷ 282,651 shares)^A		$ 10.56

Class C: Net Asset Value and offering price per share ($9,377,389 ÷ 889,670 shares)^A		$ 10.54

Institutional Class: Net Asset Value, offering price and redemption price per share ($18,774,960 ÷ 1,766,069 shares)		$ 10.63

^A Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge.

Statement of Operations

	Year ended March 31, 2010
Investment Income
Income distributions from underlying funds		$ 3,816,442

Expenses
Distribution fees	$ 520,023
Independent trustees' compensation	551
Total expenses before reductions	520,574
Expense reductions	(551)	520,023
Net investment income (loss)		3,296,419
Realized and Unrealized Gain (Loss) Realized gain (loss) on sale of underlying fund shares	(157,614)
Capital gain distributions from underlying funds	1,953,135	1,795,521
Change in net unrealized appreciation (depreciation) on underlying funds		39,634,422
Net gain (loss)		41,429,943
Net increase (decrease) in net assets resulting from operations		$ 44,726,362

See accompanying notes which are an integral part of the financial statements.

Annual Report

Statement of Changes in Net Assets

	Year ended March 31, 2010	Year ended March 31, 2009
Increase (Decrease) in Net Assets
Operations
Net investment income (loss)	$ 3,296,419	$ 3,702,207
Net realized gain (loss)	1,795,521	(9,761,617)
Change in net unrealized appreciation (depreciation)	39,634,422	(34,653,868)
Net increase (decrease) in net assets resulting from operations	44,726,362	(40,713,278)
Distributions to shareholders from net investment income	(3,251,107)	(3,863,581)
Distributions to shareholders from net realized gain	(1,348,446)	(3,059,864)
Total distributions	(4,599,553)	(6,923,445)
Share transactions - net increase (decrease)	47,810,477	25,066,869
Total increase (decrease) in net assets	87,937,286	(22,569,854)

Net Assets
Beginning of period	121,795,556	144,365,410
End of period (including undistributed net investment income of $513,327 and undistributed net investment income of $468,016, respectively)	$ 209,732,842	$ 121,795,556

Financial Highlights - Class A

Years ended March 31,	2010	2009	2008	2007	2006
Selected Per-Share Data
Net asset value, beginning of period	$ 8.10	$ 11.40	$ 11.83	$ 11.33	$ 10.57
Income from Investment Operations
Net investment income (loss) ^C	.20	.27	.33	.28	.25
Net realized and unrealized gain (loss)	2.53	(3.06)	(.34)	.63	.76
Total from investment operations	2.73	(2.79)	(.01)	.91	1.01
Distributions from net investment income	(.19)	(.28)	(.26)	(.23)	(.20)
Distributions from net realized gain	(.07)	(.23)	(.16)	(.18)	(.05)
Total distributions	(.26)	(.51)	(.42)	(.41)	(.25)
Net asset value, end of period	$ 10.57	$ 8.10	$ 11.40	$ 11.83	$ 11.33
Total Return^A,B	33.91%	(25.09)%	(.23)%	8.21%	9.63%
Ratios to Average Net Assets^D,E
Expenses before reductions	.25%	.25%	.25%	.25%	.26%
Expenses net of fee waivers, if any	.25%	.25%	.25%	.25%	.26%
Expenses net of all reductions	.25%	.25%	.25%	.25%	.26%
Net investment income (loss)	2.01%	2.75%	2.74%	2.49%	2.25%
Supplemental Data
Net assets, end of period (000 omitted)	$ 155,482	$ 88,593	$ 98,483	$ 49,418	$ 16,194
Portfolio turnover rate	35%	54%	30%	30%	34%

^A Total returns would have been lower had certain expenses not been reduced during the periods shown.

^B Total returns do not include the effect of the sales charges.

^C Calculated based on average shares outstanding during the period.

^D Amounts do not include the activity of the underlying funds.

See accompanying notes which are an integral part of the financial statements.

Annual Report

Financial Highlights - Class T

Years ended March 31,	2010	2009	2008	2007	2006
Selected Per-Share Data
Net asset value, beginning of period	$ 8.10	$ 11.39	$ 11.81	$ 11.31	$ 10.56
Income from Investment Operations
Net investment income (loss) ^C	.17	.25	.30	.25	.22
Net realized and unrealized gain (loss)	2.54	(3.06)	(.33)	.63	.75
Total from investment operations	2.71	(2.81)	(.03)	.88	.97
Distributions from net investment income	(.17)	(.25)	(.23)	(.20)	(.17)
Distributions from net realized gain	(.07)	(.23)	(.16)	(.18)	(.05)
Total distributions	(.24)	(.48)	(.39)	(.38)	(.22)
Net asset value, end of period	$ 10.57	$ 8.10	$ 11.39	$ 11.81	$ 11.31
Total Return^A,B	33.61%	(25.27)%	(.44)%	7.95%	9.31%
Ratios to Average Net Assets^D,E
Expenses before reductions	.50%	.50%	.50%	.50%	.51%
Expenses net of fee waivers, if any	.50%	.50%	.50%	.50%	.50%
Expenses net of all reductions	.50%	.50%	.50%	.50%	.50%
Net investment income (loss)	1.76%	2.50%	2.49%	2.24%	2.00%
Supplemental Data
Net assets, end of period (000 omitted)	$ 23,113	$ 14,437	$ 20,837	$ 20,289	$ 13,906
Portfolio turnover rate	35%	54%	30%	30%	34%

^A Total returns would have been lower had certain expenses not been reduced during the periods shown.

^B Total returns do not include the effect of the sales charges.

^C Calculated based on average shares outstanding during the period.

^D Amounts do not include the activity of the underlying funds.

Financial Highlights - Class B

Years ended March 31,	2010	2009	2008	2007	2006
Selected Per-Share Data
Net asset value, beginning of period	$ 8.09	$ 11.37	$ 11.78	$ 11.28	$ 10.53
Income from Investment Operations
Net investment income (loss) ^C	.12	.20	.24	.20	.16
Net realized and unrealized gain (loss)	2.53	(3.06)	(.33)	.62	.76
Total from investment operations	2.65	(2.86)	(.09)	.82	.92
Distributions from net investment income	(.11)	(.19)	(.16)	(.14)	(.12)
Distributions from net realized gain	(.07)	(.23)	(.16)	(.18)	(.05)
Total distributions	(.18)	(.42)	(.32)	(.32)	(.17)
Net asset value, end of period	$ 10.56	$ 8.09	$ 11.37	$ 11.78	$ 11.28
Total Return^A,B	32.90%	(25.69)%	(.89)%	7.40%	8.80%
Ratios to Average Net Assets^D,E
Expenses before reductions	1.00%	1.00%	1.00%	1.00%	1.01%
Expenses net of fee waivers, if any	1.00%	1.00%	1.00%	1.00%	1.00%
Expenses net of all reductions	1.00%	1.00%	1.00%	1.00%	1.00%
Net investment income (loss)	1.26%	2.00%	1.99%	1.74%	1.50%
Supplemental Data
Net assets, end of period (000 omitted)	$ 2,986	$ 2,692	$ 4,348	$ 3,974	$ 3,835
Portfolio turnover rate	35%	54%	30%	30%	34%

^A Total returns would have been lower had certain expenses not been reduced during the periods shown.

^B Total returns do not include the effect of the contingent deferred sales charge.

^C Calculated based on average shares outstanding during the period.

^D Amounts do not include the activity of the underlying funds.

See accompanying notes which are an integral part of the financial statements.

Annual Report

Financial Highlights - Class C

Years ended March 31,	2010	2009	2008	2007	2006
Selected Per-Share Data
Net asset value, beginning of period	$ 8.08	$ 11.34	$ 11.76	$ 11.27	$ 10.53
Income from Investment Operations
Net investment income (loss) ^C	.12	.20	.24	.20	.16
Net realized and unrealized gain (loss)	2.53	(3.04)	(.33)	.62	.75
Total from investment operations	2.65	(2.84)	(.09)	.82	.91
Distributions from net investment income	(.12)	(.19)	(.17)	(.15)	(.12)
Distributions from net realized gain	(.07)	(.23)	(.16)	(.18)	(.05)
Total distributions	(.19)	(.42)	(.33)	(.33)	(.17)
Net asset value, end of period	$ 10.54	$ 8.08	$ 11.34	$ 11.76	$ 11.27
Total Return^A,B	32.90%	(25.61)%	(.91)%	7.36%	8.74%
Ratios to Average Net Assets^D,E
Expenses before reductions	1.00%	1.00%	1.00%	1.00%	1.01%
Expenses net of fee waivers, if any	1.00%	1.00%	1.00%	1.00%	1.01%
Expenses net of all reductions	1.00%	1.00%	1.00%	1.00%	1.01%
Net investment income (loss)	1.26%	2.00%	1.99%	1.74%	1.50%
Supplemental Data
Net assets, end of period (000 omitted)	$ 9,377	$ 6,761	$ 11,052	$ 9,107	$ 7,637
Portfolio turnover rate	35%	54%	30%	30%	34%

^A Total returns would have been lower had certain expenses not been reduced during the periods shown.

^B Total returns do not include the effect of the contingent deferred sales charge.

^C Calculated based on average shares outstanding during the period.

^D Amounts do not include the activity of the underlying funds.

Financial Highlights - Institutional Class

Years ended March 31,	2010	2009	2008	2007	2006
Selected Per-Share Data
Net asset value, beginning of period	$ 8.14	$ 11.46	$ 11.87	$ 11.37	$ 10.60
Income from Investment Operations
Net investment income (loss) ^B	.22	.29	.35	.31	.28
Net realized and unrealized gain (loss)	2.55	(3.07)	(.32)	.62	.76
Total from investment operations	2.77	(2.78)	.03	.93	1.04
Distributions from net investment income	(.21)	(.31)	(.28)	(.25)	(.22)
Distributions from net realized gain	(.07)	(.23)	(.16)	(.18)	(.05)
Total distributions	(.28)	(.54)	(.44)	(.43)	(.27)
Net asset value, end of period	$ 10.63	$ 8.14	$ 11.46	$ 11.87	$ 11.37
Total Return^A	34.28%	(24.93)%	.12%	8.37%	9.92%
Ratios to Average Net Assets^C,E
Expenses before reductions	.00% ^D	.00% ^D	.00% ^D	.00% ^D	.01%
Expenses net of fee waivers, if any	.00%	.00%	.00%	.00%	.00%
Expenses net of all reductions	.00%	.00%	.00%	.00%	.00%
Net investment income (loss)	2.26%	3.00%	2.99%	2.74%	2.50%
Supplemental Data
Net assets, end of period (000 omitted)	$ 18,775	$ 9,313	$ 9,645	$ 3,424	$ 1,376
Portfolio turnover rate	35%	54%	30%	30%	34%

^A Total returns would have been lower had certain expenses not been reduced during the periods shown.

^B Calculated based on average shares outstanding during the period.

^C Amounts do not include the activity of the underlying funds.

^D Amount represents less than .01%.

See accompanying notes which are an integral part of the financial statements.

Annual Report

Fidelity Advisor Freedom 2010 Fund

Investment Changes (Unaudited)

Fund Holdings as of March 31, 2010
	% of fund's net assets	% of fund's net assets 6 months ago
Commodity Funds
Fidelity Series Commodity Strategy Fund	2.1	0.0
Domestic Equity Funds
Fidelity Advisor Equity Growth Fund Institutional Class	3.8	4.1
Fidelity Advisor Equity Income Fund Institutional Class	3.1	5.6
Fidelity Advisor Growth & Income Fund Institutional Class	5.7	6.4
Fidelity Advisor Large Cap Fund Institutional Class	5.4	5.9
Fidelity Advisor Small Cap Fund Institutional Class	1.7	1.9
Fidelity Series 100 Index Fund	3.5	3.1
Fidelity Series All-Sector Equity Fund	7.4	8.2
Fidelity Series Large Cap Value Fund	4.5	3.0
Fidelity Series Small Cap Opportunities Fund	1.9	2.0
	37.0	40.2
Developed International Equity Funds
Fidelity Advisor Diversified International Fund Institutional Class	4.0	4.6
Fidelity Advisor Overseas Fund Institutional Class	4.1	4.6
Fidelity Series International Growth Fund	0.9	0.0
Fidelity Series International Small Cap Fund	0.2	0.0
Fidelity Series International Value Fund	0.9	0.0
	10.1	9.2
Emerging Markets Equity Funds
Fidelity Series Emerging Markets Fund	1.3	0.7
High Yield Bond Funds
Fidelity Advisor High Income Advantage Fund Institutional Class	5.0	5.4
Inflation-Protected Bond Funds
Fidelity Series Inflation-Protected Bond Index Fund	4.1	0.5
Investment Grade Bond Funds
Fidelity Advisor Strategic Real Return Fund Institutional Class	5.5	6.5
Fidelity Advisor Total Bond Fund Institutional Class	2.2	7.1
Fidelity Series Investment Grade Bond Fund	22.6	21.1
	30.3	34.7
Short-Term Funds
Fidelity Advisor Short Fixed-Income Fund Institutional Class	5.1	4.7
Fidelity Institutional Money Market Portfolio Institutional Class	5.0	4.6
	10.1	9.3
	100.0	100.0

Asset Allocation (% of fund's net assets)
Current
	Commodity Funds	2.1%
	Domestic Equity Funds	37.0%
	Developed International Equity Funds	10.1%
	Emerging Markets Equity Funds	1.3%
	High Yield Bond Funds	5.0%
	Inflation-Protected Bond Funds	4.1%
	Investment Grade Bond Funds	30.3%
	Short-Term Funds	10.1%

fid178

Six months ago
	Domestic Equity Funds	40.2%
	Developed International Equity Funds	9.2%
	Emerging Markets Equity Funds	0.7%
	High Yield Bond Funds	5.4%
	Inflation-Protected Bond Funds	0.5%
	Investment Grade Bond Funds	34.7%
	Short-Term Funds	9.3%

fid187

Expected
	Commodity Funds	4.7%
	Domestic Equity Funds	32.2%
	Developed International Equity Funds	11.0%
	Emerging Markets Equity Funds	1.8%
	High Yield Bond Funds	5.0%
	Inflation-Protected Bond Funds	9.1%
	Investment Grade Bond Funds	25.7%
	Short-Term Funds	10.5%

fid197

Annual Report

Fidelity Advisor Freedom 2010 Fund

Investments March 31, 2010

Showing Percentage of Net Assets

Domestic Equity Funds - 39.1%
	Shares		Value
Commodity Funds - 2.1%
Fidelity Series Commodity Strategy Fund	1,667,260		$ 17,472,890
Domestic Equity Funds - 37.0%
Fidelity Advisor Equity Growth Fund Institutional Class (a)	630,619		31,240,877
Fidelity Advisor Equity Income Fund Institutional Class	1,158,029		25,835,637
Fidelity Advisor Growth & Income Fund Institutional Class	2,945,648		46,865,263
Fidelity Advisor Large Cap Fund Institutional Class	2,603,155		44,878,396
Fidelity Advisor Small Cap Fund Institutional Class (a)	604,165		14,373,091
Fidelity Series 100 Index Fund	3,513,406		29,126,132
Fidelity Series All-Sector Equity Fund	5,082,490		61,091,530
Fidelity Series Large Cap Value Fund	3,128,856		37,139,524
Fidelity Series Small Cap Opportunities Fund (a)	1,731,179		15,442,117
TOTAL DOMESTIC EQUITY FUNDS			305,992,567
TOTAL DOMESTIC EQUITY FUNDS (Cost $312,034,344)		323,465,457
International Equity Funds - 11.4%

Developed International Equity Funds - 10.1%
Fidelity Advisor Diversified International Fund Institutional Class	2,192,843		33,199,646
Fidelity Advisor Overseas Fund Institutional Class	1,991,017		33,409,271
Fidelity Series International Growth Fund	773,050		7,684,121
Fidelity Series International Small Cap Fund	155,471		1,590,473
Fidelity Series International Value Fund	793,505		7,665,255
TOTAL DEVELOPED INTERNATIONAL EQUITY FUNDS			83,548,766
Emerging Markets Equity Funds - 1.3%
Fidelity Series Emerging Markets Fund	664,776		11,141,650
TOTAL INTERNATIONAL EQUITY FUNDS (Cost $105,803,048)		94,690,416
Bond Funds - 39.4%
	Shares		Value
High Yield Bond Funds - 5.0%
Fidelity Advisor High Income Advantage Fund Institutional Class	4,644,405		$ 41,706,759
Inflation-Protected Bond Funds - 4.1%
Fidelity Series Inflation-Protected Bond Index Fund	3,312,698		33,988,280
Investment Grade Bond Funds - 30.3%
Fidelity Advisor Strategic Real Return Fund Institutional Class	5,238,031		45,308,971
Fidelity Advisor Total Bond Fund Institutional Class	1,679,509		17,853,183
Fidelity Series Investment Grade Bond Fund	16,352,056		187,067,517
TOTAL INVESTMENT GRADE BOND FUNDS			250,229,671
TOTAL BOND FUNDS (Cost $320,363,168)		325,924,710
Short-Term Funds - 10.1%

Fidelity Advisor Short Fixed-Income Fund Institutional Class	4,581,359		41,781,991
Fidelity Institutional Money Market Portfolio Institutional Class	41,683,247		41,683,247
TOTAL SHORT-TERM FUNDS (Cost $84,065,207)		83,465,238
TOTAL INVESTMENT PORTFOLIO - 100.0% (Cost $822,265,767)			827,545,821
NET OTHER ASSETS - 0.0%			(246,626)
NET ASSETS - 100%		$ 827,299,195

Legend

(a) Non-income producing

Other Information

Income Tax Information

At March 31, 2010, the fund had a capital loss carryforward of approximately $34,281,646 of which $30,891,938 and $3,389,708 will expire on March 31, 2017 and 2018, respectively.

The fund intends to elect to defer to its fiscal year ending March 31, 2011 approximately $19,754,233 of losses recognized during the period November 1, 2009 to March 31, 2010.

See accompanying notes which are an integral part of the financial statements.

Annual Report

Fidelity Advisor Freedom 2010 Fund

Financial Statements

Statement of Assets and Liabilities

	March 31, 2010
Assets
Investment in securities, at value (cost $822,265,767) - See accompanying schedule		$ 827,545,821
Receivable for investments sold		617,196
Receivable for fund shares sold		1,140,080
Total assets		829,303,097

Liabilities
Payable to custodian bank	$ 8
Payable for investments purchased	312,975
Payable for fund shares redeemed	1,448,024
Distribution fees payable	242,895
Total liabilities		2,003,902

Net Assets		$ 827,299,195
Net Assets consist of:
Paid in capital		$ 877,374,221
Undistributed net investment income		1,873,313
Accumulated undistributed net realized gain (loss) on investments		(57,228,393)
Net unrealized appreciation (depreciation) on investments		5,280,054
Net Assets		$ 827,299,195

Calculation of Maximum Offering Price Class A: Net Asset Value and redemption price per share ($478,025,368 ÷ 43,973,411 shares)		$ 10.87

Maximum offering price per share (100/94.25 of $10.87)		$ 11.53
Class T: Net Asset Value and redemption price per share ($204,058,564 ÷ 18,841,462 shares)		$ 10.83

Maximum offering price per share (100/96.50 of $10.83)		$ 11.22
Class B: Net Asset Value and offering price per share ($22,467,667 ÷ 2,076,663 shares)^A		$ 10.82

Class C: Net Asset Value and offering price per share ($47,178,186 ÷ 4,377,898 shares)^A		$ 10.78

Institutional Class: Net Asset Value, offering price and redemption price per share ($75,569,410 ÷ 6,924,814 shares)		$ 10.91

^A Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge.

Statement of Operations

	Year ended March 31, 2010
Investment Income
Income distributions from underlying funds		$ 17,312,985

Expenses
Distribution fees	$ 2,724,021
Independent trustees' compensation	2,517
Total expenses before reductions	2,726,538
Expense reductions	(2,517)	2,724,021
Net investment income (loss)		14,588,964
Realized and Unrealized Gain (Loss) Realized gain (loss) on sale of underlying fund shares	(10,207,574)
Capital gain distributions from underlying funds	8,855,695	(1,351,879)
Change in net unrealized appreciation (depreciation) on underlying funds		207,984,174
Net gain (loss)		206,632,295
Net increase (decrease) in net assets resulting from operations		$ 221,221,259

See accompanying notes which are an integral part of the financial statements.

Annual Report

Statement of Changes in Net Assets

	Year ended March 31, 2010	Year ended March 31, 2009
Increase (Decrease) in Net Assets
Operations
Net investment income (loss)	$ 14,588,964	$ 18,391,658
Net realized gain (loss)	(1,351,879)	(44,170,237)
Change in net unrealized appreciation (depreciation)	207,984,174	(194,782,235)
Net increase (decrease) in net assets resulting from operations	221,221,259	(220,560,814)
Distributions to shareholders from net investment income	(14,970,360)	(18,945,686)
Distributions to shareholders from net realized gain	(6,224,738)	(19,419,546)
Total distributions	(21,195,098)	(38,365,232)
Share transactions - net increase (decrease)	25,017,028	134,895,498
Total increase (decrease) in net assets	225,043,189	(124,030,548)

Net Assets
Beginning of period	602,256,006	726,286,554
End of period (including undistributed net investment income of $1,873,313 and undistributed net investment income of $2,254,710, respectively)	$ 827,299,195	$ 602,256,006

Financial Highlights - Class A

Years ended March 31,	2010	2009	2008	2007	2006
Selected Per-Share Data
Net asset value, beginning of period	$ 8.19	$ 11.78	$ 12.28	$ 11.79	$ 11.01
Income from Investment Operations
Net investment income (loss) ^C	.21	.27	.33	.29	.25
Net realized and unrealized gain (loss)	2.76	(3.28)	(.34)	.66	.80
Total from investment operations	2.97	(3.01)	(.01)	.95	1.05
Distributions from net investment income	(.21)	(.28)	(.30)	(.26)	(.22)
Distributions from net realized gain	(.08)	(.30)	(.19)	(.20)	(.06)
Total distributions	(.29) ^G	(.58)	(.49)	(.46)	(.27) ^F
Net asset value, end of period	$ 10.87	$ 8.19	$ 11.78	$ 12.28	$ 11.79
Total Return ^{A, B}	36.51%	(26.36)%	(.27)%	8.22%	9.65%
Ratios to Average Net Assets ^{D, E}
Expenses before reductions	.25%	.25%	.25%	.25%	.26%
Expenses net of fee waivers, if any	.25%	.25%	.25%	.25%	.26%
Expenses net of all reductions	.25%	.25%	.25%	.25%	.26%
Net investment income (loss)	2.04%	2.77%	2.66%	2.43%	2.23%
Supplemental Data
Net assets, end of period (000 omitted)	$ 478,025	$ 339,203	$ 377,118	$ 248,500	$ 146,593
Portfolio turnover rate	42%	44%	15%	22%	7%

^A Total returns would have been lower had certain expenses not been reduced during the periods shown.

^B Total returns do not include the effect of the sales charges.

^C Calculated based on average shares outstanding during the period.

^D Amounts do not include the activity of the underlying funds.

^F Total distributions of $.27 per share is comprised of distributions from net investment income of $.215 and distributions from net realized gain of $.055 per share.

^G Total distributions of $.29 per share is comprised of distributions from net investment income of $.211 and distributions from net realized gain of $.083 per share.

See accompanying notes which are an integral part of the financial statements.

Annual Report

Financial Highlights - Class T

Years ended March 31,	2010	2009	2008	2007	2006
Selected Per-Share Data
Net asset value, beginning of period	$ 8.16	$ 11.74	$ 12.24	$ 11.75	$ 10.97
Income from Investment Operations
Net investment income (loss) ^C	.18	.25	.30	.26	.22
Net realized and unrealized gain (loss)	2.76	(3.28)	(.34)	.66	.80
Total from investment operations	2.94	(3.03)	(.04)	.92	1.02
Distributions from net investment income	(.19)	(.25)	(.27)	(.23)	(.19)
Distributions from net realized gain	(.08)	(.30)	(.19)	(.20)	(.06)
Total distributions	(.27) ^G	(.55)	(.46)	(.43)	(.24) ^F
Net asset value, end of period	$ 10.83	$ 8.16	$ 11.74	$ 12.24	$ 11.75
Total Return ^{A, B}	36.19%	(26.57)%	(.52)%	8.00%	9.42%
Ratios to Average Net Assets ^{D, E}
Expenses before reductions	.50%	.50%	.50%	.50%	.51%
Expenses net of fee waivers, if any	.50%	.50%	.50%	.50%	.51%
Expenses net of all reductions	.50%	.50%	.50%	.50%	.51%
Net investment income (loss)	1.79%	2.52%	2.41%	2.18%	1.98%
Supplemental Data
Net assets, end of period (000 omitted)	$ 204,059	$ 163,842	$ 216,732	$ 194,563	$ 143,012
Portfolio turnover rate	42%	44%	15%	22%	7%

^A Total returns would have been lower had certain expenses not been reduced during the periods shown.

^B Total returns do not include the effect of the sales charges.

^C Calculated based on average shares outstanding during the period.

^D Amounts do not include the activity of the underlying funds.

^F Total distributions of $.24 per share is comprised of distributions from net investment income of $.187 and distributions from net realized gain of $.055 per share.

^G Total distributions of $.27 per share is comprised of distributions from net investment income of $.186 and distributions from net realized gain of $.083 per share.

Financial Highlights - Class B

Years ended March 31,	2010	2009	2008	2007	2006
Selected Per-Share Data
Net asset value, beginning of period	$ 8.15	$ 11.70	$ 12.20	$ 11.71	$ 10.94
Income from Investment Operations
Net investment income (loss) ^C	.13	.20	.24	.20	.17
Net realized and unrealized gain (loss)	2.76	(3.26)	(.35)	.66	.79
Total from investment operations	2.89	(3.06)	(.11)	.86	.96
Distributions from net investment income	(.13)	(.19)	(.20)	(.17)	(.13)
Distributions from net realized gain	(.08)	(.30)	(.19)	(.20)	(.06)
Total distributions	(.22) ^F	(.49)	(.39)	(.37)	(.19)
Net asset value, end of period	$ 10.82	$ 8.15	$ 11.70	$ 12.20	$ 11.71
Total Return ^{A, B}	35.54%	(26.92)%	(1.04)%	7.47%	8.83%
Ratios to Average Net Assets ^{D, E}
Expenses before reductions	1.00%	1.00%	1.00%	1.00%	1.01%
Expenses net of fee waivers, if any	1.00%	1.00%	1.00%	1.00%	1.01%
Expenses net of all reductions	1.00%	1.00%	1.00%	1.00%	1.01%
Net investment income (loss)	1.29%	2.03%	1.91%	1.68%	1.48%
Supplemental Data
Net assets, end of period (000 omitted)	$ 22,468	$ 19,950	$ 34,137	$ 34,834	$ 33,404
Portfolio turnover rate	42%	44%	15%	22%	7%

^A Total returns would have been lower had certain expenses not been reduced during the periods shown.

^B Total returns do not include the effect of the contingent deferred sales charge.

^C Calculated based on average shares outstanding during the period.

^D Amounts do not include the activity of the underlying funds.

^F Total distributions of $.22 per share is comprised of distributions from net investment income of $.134 and distributions from net realized gain of $.083 per share.

See accompanying notes which are an integral part of the financial statements.

Annual Report

Financial Highlights - Class C

Years ended March 31,	2010	2009	2008	2007	2006
Selected Per-Share Data
Net asset value, beginning of period	$ 8.13	$ 11.67	$ 12.17	$ 11.69	$ 10.93
Income from Investment Operations
Net investment income (loss) ^C	.13	.20	.23	.20	.17
Net realized and unrealized gain (loss)	2.74	(3.25)	(.33)	.66	.78
Total from investment operations	2.87	(3.05)	(.10)	.86	.95
Distributions from net investment income	(.14)	(.19)	(.21)	(.18)	(.14)
Distributions from net realized gain	(.08)	(.30)	(.19)	(.20)	(.06)
Total distributions	(.22) ^G	(.49)	(.40)	(.38)	(.19) ^F
Net asset value, end of period	$ 10.78	$ 8.13	$ 11.67	$ 12.17	$ 11.69
Total Return ^{A, B}	35.45%	(26.88)%	(.97)%	7.45%	8.78%
Ratios to Average Net Assets ^{D, E}
Expenses before reductions	1.00%	1.00%	1.00%	1.00%	1.01%
Expenses net of fee waivers, if any	1.00%	1.00%	1.00%	1.00%	1.01%
Expenses net of all reductions	1.00%	1.00%	1.00%	1.00%	1.01%
Net investment income (loss)	1.29%	2.02%	1.91%	1.68%	1.48%
Supplemental Data
Net assets, end of period (000 omitted)	$ 47,178	$ 37,524	$ 58,378	$ 47,918	$ 38,882
Portfolio turnover rate	42%	44%	15%	22%	7%

^A Total returns would have been lower had certain expenses not been reduced during the periods shown.

^B Total returns do not include the effect of the contingent deferred sales charge.

^C Calculated based on average shares outstanding during the period.

^D Amounts do not include the activity of the underlying funds.

^F Total distributions of $.19 per share is comprised of distributions from net investment income of $.136 and distributions from net realized gain of $.055 per share.

^G Total distributions of $.22 per share is comprised of distributions from net investment income of $.139 and distributions from net realized gain of $.083 per share.

Financial Highlights - Institutional Class

Years ended March 31,	2010	2009	2008	2007	2006
Selected Per-Share Data
Net asset value, beginning of period	$ 8.22	$ 11.82	$ 12.32	$ 11.82	$ 11.03
Income from Investment Operations
Net investment income (loss) ^B	.23	.30	.36	.32	.28
Net realized and unrealized gain (loss)	2.78	(3.30)	(.34)	.67	.80
Total from investment operations	3.01	(3.00)	.02	.99	1.08
Distributions from net investment income	(.23)	(.30)	(.33)	(.29)	(.24)
Distributions from net realized gain	(.08)	(.30)	(.19)	(.20)	(.06)
Total distributions	(.32) ^G	(.60)	(.52)	(.49)	(.29) ^F
Net asset value, end of period	$ 10.91	$ 8.22	$ 11.82	$ 12.32	$ 11.82
Total Return ^A	36.80%	(26.16)%	(.05)%	8.52%	9.94%
Ratios to Average Net Assets ^{C, E}
Expenses before reductions	.00% ^D	.00% ^D	.00% ^D	.00% ^D	.01%
Expenses net of fee waivers, if any	.00%	.00%	.00%	.00%	.01%
Expenses net of all reductions	.00%	.00%	.00%	.00%	.01%
Net investment income (loss)	2.29%	3.02%	2.91%	2.68%	2.48%
Supplemental Data
Net assets, end of period (000 omitted)	$ 75,569	$ 41,737	$ 39,922	$ 21,580	$ 11,038
Portfolio turnover rate	42%	44%	15%	22%	7%

^A Total returns would have been lower had certain expenses not been reduced during the periods shown.

^B Calculated based on average shares outstanding during the period.

^C Amounts do not include the activity of the underlying funds.

^D Amount represents less than .01%.

^F Total distributions of $.29 per share is comprised of distributions from net investment income of $.237 and distributions from net realized gain of $.055 per share.

^G Total distributions of $.32 per share is comprised of distributions from net investment income of $.234 and distributions from net realized gain of $.083 per share.

See accompanying notes which are an integral part of the financial statements.

Annual Report

Fidelity Advisor Freedom 2015 Fund

Investment Changes (Unaudited)

Fund Holdings as of March 31, 2010
	% of fund's net assets	% of fund's net assets 6 months ago
Commodity Funds
Fidelity Series Commodity Strategy Fund	2.2	0.0
Domestic Equity Funds
Fidelity Advisor Equity Growth Fund Institutional Class	3.9	4.3
Fidelity Advisor Equity Income Fund Institutional Class	3.2	5.9
Fidelity Advisor Growth & Income Fund Institutional Class	5.9	6.7
Fidelity Advisor Large Cap Fund Institutional Class	5.6	6.2
Fidelity Advisor Small Cap Fund Institutional Class	1.8	1.9
Fidelity Series 100 Index Fund	3.7	3.2
Fidelity Series All-Sector Equity Fund	7.6	8.4
Fidelity Series Large Cap Value Fund	4.7	3.1
Fidelity Series Small Cap Opportunities Fund	1.9	2.1
	38.3	41.8
Developed International Equity Funds
Fidelity Advisor Diversified International Fund Institutional Class	4.1	4.8
Fidelity Advisor Overseas Fund Institutional Class	4.2	4.8
Fidelity Series International Growth Fund	1.0	0.0
Fidelity Series International Small Cap Fund	0.2	0.0
Fidelity Series International Value Fund	1.0	0.0
	10.5	9.6
Emerging Markets Equity Funds
Fidelity Series Emerging Markets Fund	1.4	0.9
High Yield Bond Funds
Fidelity Advisor High Income Advantage Fund Institutional Class	5.2	5.6
Inflation-Protected Bond Funds
Fidelity Series Inflation-Protected Bond Index Fund	3.7	0.4
Investment Grade Bond Funds
Fidelity Advisor Strategic Real Return Fund Institutional Class	5.4	6.4
Fidelity Advisor Total Bond Fund Institutional Class	2.1	6.9
Fidelity Series Investment Grade Bond Fund	22.4	20.6
	29.9	33.9
Short-Term Funds
Fidelity Advisor Short Fixed-Income Fund Institutional Class	4.4	3.9
Fidelity Institutional Money Market Portfolio Institutional Class	4.4	3.9
	8.8	7.8
	100.0	100.0

Asset Allocation (% of fund's net assets)
Current
	Commodity Funds	2.2%
	Domestic Equity Funds	38.3%
	Developed International Equity Funds	10.5%
	Emerging Markets Equity Funds	1.4%
	High Yield Bond Funds	5.2%
	Inflation-Protected Bond Funds	3.7%
	Investment Grade Bond Funds	29.9%
	Short-Term Funds	8.8%

fid207

Six months ago
	Domestic Equity Funds	41.8%
	Developed International Equity Funds	9.6%
	Emerging Markets Equity Funds	0.9%
	High Yield Bond Funds	5.6%
	Inflation-Protected Bond Funds	0.4%
	Investment Grade Bond Funds	33.9%
	Short-Term Funds	7.8%

fid216

Expected
	Commodity Funds	4.8%
	Domestic Equity Funds	33.1%
	Developed International Equity Funds	11.4%
	Emerging Markets Equity Funds	1.8%
	High Yield Bond Funds	5.1%
	Inflation-Protected Bond Funds	8.4%
	Investment Grade Bond Funds	26.1%
	Short-Term Funds	9.3%

fid226

Annual Report

Fidelity Advisor Freedom 2015 Fund

Investments March 31, 2010

Showing Percentage of Net Assets

Domestic Equity Funds - 40.5%
	Shares		Value
Commodity Funds - 2.2%
Fidelity Series Commodity Strategy Fund	2,724,372		$ 28,551,423
Domestic Equity Funds - 38.3%
Fidelity Advisor Equity Growth Fund Institutional Class (a)	1,019,436		50,502,872
Fidelity Advisor Equity Income Fund Institutional Class	1,853,423		41,349,860
Fidelity Advisor Growth & Income Fund Institutional Class	4,755,261		75,656,195
Fidelity Advisor Large Cap Fund Institutional Class	4,211,189		72,600,896
Fidelity Advisor Small Cap Fund Institutional Class (a)	976,635		23,234,135
Fidelity Series 100 Index Fund	5,684,364		47,123,380
Fidelity Series All-Sector Equity Fund	8,211,874		98,706,727
Fidelity Series Large Cap Value Fund	5,089,170		60,408,449
Fidelity Series Small Cap Opportunities Fund (a)	2,806,608		25,034,946
TOTAL DOMESTIC EQUITY FUNDS			494,617,460
TOTAL DOMESTIC EQUITY FUNDS (Cost $513,938,176)		523,168,883
International Equity Funds - 11.9%

Developed International Equity Funds - 10.5%
Fidelity Advisor Diversified International Fund Institutional Class	3,562,347		53,933,933
Fidelity Advisor Overseas Fund Institutional Class	3,234,077		54,267,809
Fidelity Series International Growth Fund	1,268,241		12,606,311
Fidelity Series International Small Cap Fund	257,197		2,631,121
Fidelity Series International Value Fund	1,301,871		12,576,072
TOTAL DEVELOPED INTERNATIONAL EQUITY FUNDS			136,015,246
Emerging Markets Equity Funds - 1.4%
Fidelity Series Emerging Markets Fund	1,079,550		18,093,260
TOTAL INTERNATIONAL EQUITY FUNDS (Cost $170,853,356)		154,108,506
Bond Funds - 38.8%
	Shares		Value
High Yield Bond Funds - 5.2%
Fidelity Advisor High Income Advantage Fund Institutional Class	7,478,955		$ 67,161,012
Inflation-Protected Bond Funds - 3.7%
Fidelity Series Inflation-Protected Bond Index Fund	4,740,740		48,639,988
Investment Grade Bond Funds - 29.9%
Fidelity Advisor Strategic Real Return Fund Institutional Class	8,027,658		69,439,242
Fidelity Advisor Total Bond Fund Institutional Class	2,625,697		27,911,162
Fidelity Series Investment Grade Bond Fund	25,285,417		289,265,173
TOTAL INVESTMENT GRADE BOND FUNDS			386,615,577
TOTAL BOND FUNDS (Cost $492,238,159)		502,416,577
Short-Term Funds - 8.8%

Fidelity Advisor Short Fixed-Income Fund Institutional Class	6,274,165		57,220,383
Fidelity Institutional Money Market Portfolio Institutional Class	57,061,916		57,061,916
TOTAL SHORT-TERM FUNDS (Cost $114,521,692)		114,282,299
TOTAL INVESTMENT PORTFOLIO - 100.0% (Cost $1,291,551,383)			1,293,976,265
NET OTHER ASSETS - 0.0%			(348,874)
NET ASSETS - 100%		$ 1,293,627,391

Legend

(a) Non-income producing

Other Information

Income Tax Information

At March 31, 2010, the fund had a capital loss carryforward of approximately $35,532,008 all of which will expire on March 31, 2017.

The fund intends to elect to defer to its fiscal year ending March 31, 2011 approximately $20,405,712 of losses recognized during the period November 1, 2009 to March 31, 2010.

See accompanying notes which are an integral part of the financial statements.

Annual Report

Fidelity Advisor Freedom 2015 Fund

Financial Statements

Statement of Assets and Liabilities

	March 31, 2010
Assets
Investment in securities, at value (cost $1,291,551,383) - See accompanying schedule		$ 1,293,976,265
Receivable for investments sold		1,845,225
Receivable for fund shares sold		1,304,978
Total assets		1,297,126,468

Liabilities
Payable for investments purchased	$ 179,650
Payable for fund shares redeemed	2,967,758
Distribution fees payable	351,669
Total liabilities		3,499,077

Net Assets		$ 1,293,627,391
Net Assets consist of:
Paid in capital		$ 1,347,333,952
Undistributed net investment income		2,937,541
Accumulated undistributed net realized gain (loss) on investments		(59,068,984)
Net unrealized appreciation (depreciation) on investments		2,424,882
Net Assets		$ 1,293,627,391

Calculation of Maximum Offering Price Class A: Net Asset Value and redemption price per share ($830,023,795 ÷ 76,790,754 shares)		$ 10.81

Maximum offering price per share (100/94.25 of $10.81)		$ 11.47
Class T: Net Asset Value and redemption price per share ($225,384,217 ÷ 20,884,865 shares)		$ 10.79

Maximum offering price per share (100/96.50 of $10.79)		$ 11.18
Class B: Net Asset Value and offering price per share ($35,931,652 ÷ 3,339,566 shares)^A		$ 10.76

Class C: Net Asset Value and offering price per share ($64,800,812 ÷ 6,034,645 shares)^A		$ 10.74

Institutional Class: Net Asset Value, offering price and redemption price per share ($137,486,915 ÷ 12,642,696 shares)		$ 10.87

^A Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge.

Statement of Operations

	Year ended March 31, 2010
Investment Income
Income distributions from underlying funds		$ 24,482,399

Expenses
Distribution fees	$ 3,619,597
Independent trustees' compensation	3,527
Total expenses before reductions	3,623,124
Expense reductions	(3,527)	3,619,597
Net investment income (loss)		20,862,802
Realized and Unrealized Gain (Loss) Realized gain (loss) on sale of underlying fund shares	(8,278,355)
Capital gain distributions from underlying funds	13,450,466	5,172,111
Change in net unrealized appreciation (depreciation) on underlying funds		290,904,573
Net gain (loss)		296,076,684
Net increase (decrease) in net assets resulting from operations		$ 316,939,486

See accompanying notes which are an integral part of the financial statements.

Annual Report

Statement of Changes in Net Assets

	Year ended March 31, 2010	Year ended March 31, 2009
Increase (Decrease) in Net Assets
Operations
Net investment income (loss)	$ 20,862,802	$ 22,823,857
Net realized gain (loss)	5,172,111	(49,116,733)
Change in net unrealized appreciation (depreciation)	290,904,573	(268,311,878)
Net increase (decrease) in net assets resulting from operations	316,939,486	(294,604,754)
Distributions to shareholders from net investment income	(20,840,116)	(22,943,550)
Distributions to shareholders from net realized gain	(9,228,273)	(26,245,848)
Total distributions	(30,068,389)	(49,189,398)
Share transactions - net increase (decrease)	214,008,908	236,884,136
Total increase (decrease) in net assets	500,880,005	(106,910,016)

Net Assets
Beginning of period	792,747,386	899,657,402
End of period (including undistributed net investment income of $2,937,541 and undistributed net investment income of $2,914,856, respectively)	$ 1,293,627,391	$ 792,747,386

Financial Highlights - Class A

Years ended March 31,	2010	2009	2008	2007	2006
Selected Per-Share Data
Net asset value, beginning of period	$ 8.05	$ 11.85	$ 12.40	$ 11.84	$ 10.77
Income from Investment Operations
Net investment income (loss)^C	.20	.26	.31	.26	.22
Net realized and unrealized gain (loss)	2.84	(3.47)	(.35)	.74	1.07
Total from investment operations	3.04	(3.21)	(.04)	1.00	1.29
Distributions from net investment income	(.20)	(.26)	(.27)	(.23)	(.16)
Distributions from net realized gain	(.08)	(.33)	(.24)	(.21)	(.06)
Total distributions	(.28)^H	(.59)^G	(.51)^F	(.44)	(.22)
Net asset value, end of period	$ 10.81	$ 8.05	$ 11.85	$ 12.40	$ 11.84
Total Return^A,B	37.95%	(28.01)%	(.53)%	8.56%	12.12%
Ratios to Average Net Assets^D,E
Expenses before reductions	.25%	.25%	.25%	.25%	.26%
Expenses net of fee waivers, if any	.25%	.25%	.25%	.25%	.26%
Expenses net of all reductions	.25%	.25%	.25%	.25%	.26%
Net investment income (loss)	2.02%	2.69%	2.46%	2.21%	1.93%
Supplemental Data
Net assets, end of period (000 omitted)	$ 830,024	$ 477,641	$ 517,888	$ 291,783	$ 128,241
Portfolio turnover rate	29%	36%	13%	11%	4%

^A Total returns would have been lower had certain expenses not been reduced during the periods shown.

^B Total returns do not include the effect of the sales charges.

^C Calculated based on average shares outstanding during the period.

^D Amounts do not include the activity of the underlying funds.

^F Total distributions of $.51 per share is comprised of distributions from net investment income of $.268 and distributions from net realized gain of $.243 per share.

^G Total distributions of $.59 per share is comprised of distributions from net investment income of $.262 and distributions from net realized gain of $.325 per share.

^H Total distributions of $.28 per share is comprised of distributions from net investment income of $.197 and distributions from net realized gain of $.082 per share.

See accompanying notes which are an integral part of the financial statements.

Annual Report

Financial Highlights - Class T

Years ended March 31,	2010	2009	2008	2007	2006
Selected Per-Share Data
Net asset value, beginning of period	$ 8.04	$ 11.82	$ 12.38	$ 11.81	$ 10.76
Income from Investment Operations
Net investment income (loss) ^C	.18	.24	.28	.23	.19
Net realized and unrealized gain (loss)	2.82	(3.46)	(.36)	.75	1.06
Total from investment operations	3.00	(3.22)	(.08)	.98	1.25
Distributions from net investment income	(.17)	(.23)	(.23)	(.20)	(.14)
Distributions from net realized gain	(.08)	(.33)	(.24)	(.21)	(.06)
Total distributions	(.25)^H	(.56)^G	(.48)^F	(.41)	(.20)
Net asset value, end of period	$ 10.79	$ 8.04	$ 11.82	$ 12.38	$ 11.81
Total Return^A,B	37.53%	(28.13)%	(.89)%	8.40%	11.71%
Ratios to Average Net Assets^D,E
Expenses before reductions	.50%	.50%	.50%	.50%	.51%
Expenses net of fee waivers, if any	.50%	.50%	.50%	.50%	.51%
Expenses net of all reductions	.50%	.50%	.50%	.50%	.51%
Net investment income (loss)	1.77%	2.44%	2.21%	1.96%	1.68%
Supplemental Data
Net assets, end of period (000 omitted)	$ 225,384	$ 162,439	$ 203,822	$ 186,106	$ 125,323
Portfolio turnover rate	29%	36%	13%	11%	4%

^A Total returns would have been lower had certain expenses not been reduced during the periods shown.

^B Total returns do not include the effect of the sales charges.

^C Calculated based on average shares outstanding during the period.

^D Amounts do not include the activity of the underlying funds.

^F Total distributions of $.48 per share is comprised of distributions from net investment income of $.233 and distributions from net realized gain of $.243 per share.

^G Total distributions of $.56 per share is comprised of distributions from net investment income of $.234 and distributions from net realized gain of $.325 per share.

^H Total distributions of $.25 per share is comprised of distributions from net investment income of $.172 and distributions from net realized gain of $.082 per share.

Financial Highlights - Class B

Years ended March 31,	2010	2009	2008	2007	2006
Selected Per-Share Data
Net asset value, beginning of period	$ 8.02	$ 11.77	$ 12.33	$ 11.77	$ 10.73
Income from Investment Operations
Net investment income (loss) ^C	.13	.19	.21	.17	.13
Net realized and unrealized gain (loss)	2.82	(3.44)	(.36)	.74	1.06
Total from investment operations	2.95	(3.25)	(.15)	.91	1.19
Distributions from net investment income	(.12)	(.17)	(.17)	(.14)	(.09)
Distributions from net realized gain	(.08)	(.33)	(.24)	(.21)	(.06)
Total distributions	(.21)^H	(.50)^G	(.41)^F	(.35)	(.15)
Net asset value, end of period	$ 10.76	$ 8.02	$ 11.77	$ 12.33	$ 11.77
Total Return^A,B	36.85%	(28.47)%	(1.37)%	7.83%	11.17%
Ratios to Average Net Assets^D,E
Expenses before reductions	1.00%	1.00%	1.00%	1.00%	1.01%
Expenses net of fee waivers, if any	1.00%	1.00%	1.00%	1.00%	1.01%
Expenses net of all reductions	1.00%	1.00%	1.00%	1.00%	1.01%
Net investment income (loss)	1.27%	1.94%	1.71%	1.46%	1.18%
Supplemental Data
Net assets, end of period (000 omitted)	$ 35,932	$ 27,727	$ 43,608	$ 41,424	$ 33,633
Portfolio turnover rate	29%	36%	13%	11%	4%

^A Total returns would have been lower had certain expenses not been reduced during the periods shown.

^B Total returns do not include the effect of the contingent deferred sales charge.

^C Calculated based on average shares outstanding during the period.

^D Amounts do not include the activity of the underlying funds.

^F Total distributions of $.41 per share is comprised of distributions from net investment income of $.171 and distributions from net realized gain of $.243 per share.

^G Total distributions of $.50 per share is comprised of distributions from net investment income of $.173 and distributions from net realized gain of $.325 per share.

^H Total distributions of $.21 per share is comprised of distributions from net investment income of $.124 and distributions from net realized gain of $.082 per share.

See accompanying notes which are an integral part of the financial statements.

Annual Report

Financial Highlights - Class C

Years ended March 31,	2010	2009	2008	2007	2006
Selected Per-Share Data
Net asset value, beginning of period	$ 8.00	$ 11.76	$ 12.32	$ 11.77	$ 10.73
Income from Investment Operations
Net investment income (loss) ^C	.13	.19	.21	.17	.13
Net realized and unrealized gain (loss)	2.82	(3.45)	(.35)	.74	1.06
Total from investment operations	2.95	(3.26)	(.14)	.91	1.19
Distributions from net investment income	(.13)	(.18)	(.18)	(.15)	(.09)
Distributions from net realized gain	(.08)	(.33)	(.24)	(.21)	(.06)
Total distributions	(.21)^H	(.50)^G	(.42)^F	(.36)	(.15)
Net asset value, end of period	$ 10.74	$ 8.00	$ 11.76	$ 12.32	$ 11.77
Total Return^A,B	36.97%	(28.53)%	(1.34)%	7.81%	11.19%
Ratios to Average Net Assets^D,E
Expenses before reductions	1.00%	1.00%	1.00%	1.00%	1.01%
Expenses net of fee waivers, if any	1.00%	1.00%	1.00%	1.00%	1.01%
Expenses net of all reductions	1.00%	1.00%	1.00%	1.00%	1.01%
Net investment income (loss)	1.27%	1.94%	1.71%	1.46%	1.18%
Supplemental Data
Net assets, end of period (000 omitted)	$ 64,801	$ 46,942	$ 65,543	$ 56,686	$ 35,656
Portfolio turnover rate	29%	36%	13%	11%	4%

^A Total returns would have been lower had certain expenses not been reduced during the periods shown.

^B Total returns do not include the effect of the contingent deferred sales charge.

^C Calculated based on average shares outstanding during the period.

^D Amounts do not include the activity of the underlying funds.

^F Total distributions of $.42 per share is comprised of distributions from net investment income of $.175 and distributions from net realized gain of $.243 per share.

^G Total distributions of $.50 per share is comprised of distributions from net investment income of $.179 and distributions from net realized gain of $.325 per share.

^H Total distributions of $.21 per share is comprised of distributions from net investment income of $.126 and distributions from net realized gain of $.082 per share.

Financial Highlights - Institutional Class

Years ended March 31,	2010	2009	2008	2007	2006
Selected Per-Share Data
Net asset value, beginning of period	$ 8.09	$ 11.91	$ 12.47	$ 11.89	$ 10.81
Income from Investment Operations
Net investment income (loss) ^B	.23	.29	.34	.29	.25
Net realized and unrealized gain (loss)	2.85	(3.50)	(.36)	.75	1.07
Total from investment operations	3.08	(3.21)	(.02)	1.04	1.32
Distributions from net investment income	(.22)	(.29)	(.29)	(.25)	(.18)
Distributions from net realized gain	(.08)	(.33)	(.24)	(.21)	(.06)
Total distributions	(.30)^H	(.61)^G	(.54)^F	(.46)	(.24)
Net asset value, end of period	$ 10.87	$ 8.09	$ 11.91	$ 12.47	$ 11.89
Total Return^A	38.30%	(27.85)%	(.42)%	8.90%	12.36%
Ratios to Average Net Assets^C,E
Expenses before reductions	.00% ^D	.00% ^D	.00% ^D	.00% ^D	.01%
Expenses net of fee waivers, if any	.00%	.00%	.00%	.00%	.00%
Expenses net of all reductions	.00%	.00%	.00%	.00%	.00%
Net investment income (loss)	2.27%	2.94%	2.71%	2.46%	2.18%
Supplemental Data
Net assets, end of period (000 omitted)	$ 137,487	$ 77,998	$ 68,797	$ 39,631	$ 26,886
Portfolio turnover rate	29%	36%	13%	11%	4%

^A Total returns would have been lower had certain expenses not been reduced during the periods shown.

^B Calculated based on average shares outstanding during the period.

^C Amounts do not include the activity of the underlying funds.

^D Amount represents less than .01%.

^F Total distributions of $.54 per share is comprised of distributions from net investment income of $.293 and distributions from net realized gain of $.243 per share.

^G Total distributions of $.61 per share is comprised of distributions from net investment income of $.286 and distributions from net realized gain of $.325 per share.

^H Total distributions of $.30 per share is comprised of distributions from net investment income of $.219 and distributions from net realized gain of $.082 per share.

See accompanying notes which are an integral part of the financial statements.

Annual Report

Fidelity Advisor Freedom 2020 Fund

Investment Changes (Unaudited)

Fund Holdings as of March 31, 2010
	% of fund's net assets	% of fund's net assets 6 months ago
Commodity Funds
Fidelity Series Commodity Strategy Fund	2.7	0.0
Domestic Equity Funds
Fidelity Advisor Equity Growth Fund Institutional Class	4.7	5.3
Fidelity Advisor Equity Income Fund Institutional Class	3.9	7.3
Fidelity Advisor Growth & Income Fund Institutional Class	7.1	8.2
Fidelity Advisor Large Cap Fund Institutional Class	6.8	7.7
Fidelity Advisor Small Cap Fund Institutional Class	2.2	2.3
Fidelity Series 100 Index Fund	4.4	3.9
Fidelity Series All-Sector Equity Fund	9.2	10.1
Fidelity Series Large Cap Value Fund	5.6	3.9
Fidelity Series Small Cap Opportunities Fund	2.3	2.5
	46.2	51.2
Developed International Equity Funds
Fidelity Advisor Diversified International Fund Institutional Class	5.0	5.9
Fidelity Advisor Overseas Fund Institutional Class	5.1	5.9
Fidelity Series International Growth Fund	1.2	0.0
Fidelity Series International Small Cap Fund	0.2	0.0
Fidelity Series International Value Fund	1.2	0.0
	12.7	11.8
Emerging Markets Equity Funds
Fidelity Series Emerging Markets Fund	1.7	1.0
High Yield Bond Funds
Fidelity Advisor High Income Advantage Fund Institutional Class	7.0	7.5
Inflation-Protected Bond Funds
Fidelity Series Inflation-Protected Bond Index Fund	2.7	0.3
Investment Grade Bond Funds
Fidelity Advisor Strategic Real Return Fund Institutional Class	4.4	4.9
Fidelity Advisor Total Bond Fund Institutional Class	1.7	5.4
Fidelity Series Investment Grade Bond Fund	18.4	16.2
	24.5	26.5
Short-Term Funds
Fidelity Advisor Short Fixed-Income Fund Institutional Class	1.3	0.9
Fidelity Institutional Money Market Portfolio Institutional Class	1.2	0.8
	2.5	1.7
	100.0	100.0

Asset Allocation (% of fund's net assets)
Current
	Commodity Funds	2.7%
	Domestic Equity Funds	46.2%
	Developed International Equity Funds	12.7%
	Emerging Markets Equity Funds	1.7%
	High Yield Bond Funds	7.0%
	Inflation-Protected Bond Funds	2.7%
	Investment Grade Bond Funds	24.5%
	Short-Term Funds	2.5%

fid240

Six months ago
	Domestic Equity Funds	51.2%
	Developed International Equity Funds	11.8%
	Emerging Markets Equity Funds	1.0%
	High Yield Bond Funds	7.5%
	Inflation-Protected Bond Funds	0.3%
	Investment Grade Bond Funds	26.5%
	Short-Term Funds	1.7%

fid250

Expected
	Commodity Funds	5.8%
	Domestic Equity Funds	39.6%
	Developed International Equity Funds	13.6%
	Emerging Markets Equity Funds	2.2%
	High Yield Bond Funds	6.7%
	Inflation-Protected Bond Funds	6.3%
	Investment Grade Bond Funds	22.5%
	Short-Term Funds	3.3%

fid260

Annual Report

Fidelity Advisor Freedom 2020 Fund

Investments March 31, 2010

Showing Percentage of Net Assets

Domestic Equity Funds - 48.9%
	Shares		Value
Commodity Funds - 2.7%
Fidelity Series Commodity Strategy Fund	5,323,320		$ 55,788,390
Domestic Equity Funds - 46.2%
Fidelity Advisor Equity Growth Fund Institutional Class (a)	2,003,753		99,265,905
Fidelity Advisor Equity Income Fund Institutional Class	3,641,186		81,234,859
Fidelity Advisor Growth & Income Fund Institutional Class	9,357,200		148,873,060
Fidelity Advisor Large Cap Fund Institutional Class	8,281,163		142,767,252
Fidelity Advisor Small Cap Fund Institutional Class (a)	1,921,739		45,718,165
Fidelity Series 100 Index Fund	11,208,291		92,916,729
Fidelity Series All-Sector Equity Fund	16,164,797		194,300,857
Fidelity Series Large Cap Value Fund	10,025,925		119,007,730
Fidelity Series Small Cap Opportunities Fund (a)	5,533,286		49,356,913
TOTAL DOMESTIC EQUITY FUNDS			973,441,470
TOTAL DOMESTIC EQUITY FUNDS (Cost $990,493,538)		1,029,229,860
International Equity Funds - 14.4%

Developed International Equity Funds - 12.7%
Fidelity Advisor Diversified International Fund Institutional Class	7,017,214		106,240,619
Fidelity Advisor Overseas Fund Institutional Class	6,367,838		106,852,327
Fidelity Series International Growth Fund	2,466,533		24,517,341
Fidelity Series International Small Cap Fund	501,146		5,126,719
Fidelity Series International Value Fund	2,531,941		24,458,549
TOTAL DEVELOPED INTERNATIONAL EQUITY FUNDS			267,195,555
Emerging Markets Equity Funds - 1.7%
Fidelity Series Emerging Markets Fund	2,119,907		35,529,648
TOTAL INTERNATIONAL EQUITY FUNDS (Cost $330,665,324)		302,725,203
Bond Funds - 34.2%
	Shares		Value
High Yield Bond Funds - 7.0%
Fidelity Advisor High Income Advantage Fund Institutional Class	16,349,022		$ 146,814,216
Inflation-Protected Bond Funds - 2.7%
Fidelity Series Inflation-Protected Bond Index Fund	5,571,759		57,166,243
Investment Grade Bond Funds - 24.5%
Fidelity Advisor Strategic Real Return Fund Institutional Class	10,712,026		92,659,026
Fidelity Advisor Total Bond Fund Institutional Class	3,507,971		37,289,727
Fidelity Series Investment Grade Bond Fund	33,840,535		387,135,722
TOTAL INVESTMENT GRADE BOND FUNDS			517,084,475
TOTAL BOND FUNDS (Cost $707,270,890)		721,064,934
Short-Term Funds - 2.5%

Fidelity Advisor Short Fixed-Income Fund Institutional Class	2,945,789		26,865,597
Fidelity Institutional Money Market Portfolio Institutional Class	26,852,202		26,852,202
TOTAL SHORT-TERM FUNDS (Cost $53,592,260)		53,717,799
TOTAL INVESTMENT PORTFOLIO - 100.0% (Cost $2,082,022,012)			2,106,737,796
NET OTHER ASSETS - 0.0%			(597,102)
NET ASSETS - 100%		$ 2,106,140,694

Legend

(a) Non-income producing

Other Information

Income Tax Information

At March 31, 2010, the fund had a capital loss carryforward of approximately $83,490,631 all of which will expire on March 31, 2017.

The fund intends to elect to defer to its fiscal year ending March 31, 2011 approximately $46,197,827 of losses recognized during the period November 1, 2009 to March 31, 2010.

See accompanying notes which are an integral part of the financial statements.

Annual Report

Fidelity Advisor Freedom 2020 Fund

Financial Statements

Statement of Assets and Liabilities

	March 31, 2010

Assets
Investment in securities, at value (cost $2,082,022,012) - See accompanying schedule		$ 2,106,737,796
Receivable for investments sold		1,035,049
Receivable for fund shares sold		2,224,045
Total assets		2,109,996,890

Liabilities
Payable for investments purchased	$ 105,904
Payable for fund shares redeemed	3,152,729
Distribution fees payable	597,563
Total liabilities		3,856,196

Net Assets		$ 2,106,140,694
Net Assets consist of:
Paid in capital		$ 2,212,898,702
Undistributed net investment income		4,017,738
Accumulated undistributed net realized gain (loss) on investments		(135,491,530)
Net unrealized appreciation (depreciation) on investments		24,715,784
Net Assets		$ 2,106,140,694

Calculation of Maximum Offering Price Class A: Net Asset Value and redemption price per share ($1,238,014,544 ÷ 110,418,246 shares)		$ 11.21

Maximum offering price per share (100/94.25 of $11.21)		$ 11.89
Class T: Net Asset Value and redemption price per share ($488,096,701 ÷ 43,569,147 shares)		$ 11.20

Maximum offering price per share (100/96.50 of $11.20)		$ 11.61
Class B: Net Asset Value and offering price per share ($71,888,201 ÷ 6,437,226 shares)^A		$ 11.17

Class C: Net Asset Value and offering price per share ($93,236,702 ÷ 8,366,384 shares)^A		$ 11.14


Institutional Class: Net Asset Value, offering price and redemption price per share ($214,904,546 ÷ 19,061,296 shares)		$ 11.27

^A Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge.

Statement of Operations

	Year ended March 31, 2010

Investment Income
Income distributions from underlying funds		$ 37,890,033

Expenses
Distribution fees	$ 6,194,530
Independent trustees' compensation	5,722
Total expenses before reductions	6,200,252
Expense reductions	(5,722)	6,194,530
Net investment income (loss)		31,695,503
Realized and Unrealized Gain (Loss) Realized gain (loss) on sale of underlying fund shares	(33,903,848)
Capital gain distributions from underlying funds	23,919,395	(9,984,453)
Change in net unrealized appreciation (depreciation) on underlying funds		562,202,605
Net gain (loss)		552,218,152
Net increase (decrease) in net assets resulting from operations		$ 583,913,655

See accompanying notes which are an integral part of the financial statements.

Annual Report

Statement of Changes in Net Assets

	Year ended March 31, 2010	Year ended March 31, 2009
Increase (Decrease) in Net Assets
Operations
Net investment income (loss)	$ 31,695,503	$ 33,876,751
Net realized gain (loss)	(9,984,453)	(101,331,108)
Change in net unrealized appreciation (depreciation)	562,202,605	(513,255,786)
Net increase (decrease) in net assets resulting from operations	583,913,655	(580,710,143)
Distributions to shareholders from net investment income	(31,327,675)	(33,890,863)
Distributions to shareholders from net realized gain	(15,485,703)	(54,461,707)
Total distributions	(46,813,378)	(88,352,570)
Share transactions - net increase (decrease)	326,679,236	369,126,187
Total increase (decrease) in net assets	863,779,513	(299,936,526)

Net Assets
Beginning of period	1,242,361,181	1,542,297,707
End of period (including undistributed net investment income of $4,017,738 and undistributed net investment income of $3,649,909, respectively)	$ 2,106,140,694	$ 1,242,361,181

Financial Highlights - Class A

Years ended March 31,	2010	2009	2008	2007	2006
Selected Per-Share Data
Net asset value, beginning of period	$ 7.97	$ 12.73	$ 13.49	$ 12.85	$ 11.53
Income from Investment Operations
Net investment income (loss) ^C	.20	.25	.28	.24	.19
Net realized and unrealized gain (loss)	3.32	(4.33)	(.49)	.92	1.36
Total from investment operations	3.52	(4.08)	(.21)	1.16	1.55
Distributions from net investment income	(.19)	(.25)	(.25)	(.23)	(.16)
Distributions from net realized gain	(.09)	(.43)	(.30)	(.30)	(.08)
Total distributions	(.28) ^H	(.68)	(.55)	(.52) ^G	(.23) ^F
Net asset value, end of period	$ 11.21	$ 7.97	$ 12.73	$ 13.49	$ 12.85
Total Return^A,B	44.32%	(33.34)%	(1.83)%	9.21%	13.62%
Ratios to Average Net Assets^D,E
Expenses before reductions	.25%	.25%	.25%	.25%	.26%
Expenses net of fee waivers, if any	.25%	.25%	.25%	.25%	.26%
Expenses net of all reductions	.25%	.25%	.25%	.25%	.26%
Net investment income (loss)	1.92%	2.49%	2.07%	1.89%	1.60%
Supplemental Data
Net assets, end of period (000 omitted)	$ 1,238,015	$ 677,210	$ 811,992	$ 511,536	$ 284,466
Portfolio turnover rate	26%	31%	10%	13%	6%

^A Total returns would have been lower had certain expenses not been reduced during the periods shown.

^B Total returns do not include the effect of the sales charges.

^C Calculated based on average shares outstanding during the period.

^D Amounts do not include the activity of the underlying funds.

^F Total distributions of $.23 per share is comprised of distributions from net investment income of $.158 and distributions from net realized gain of $.075 per share.

^G Total distributions of $.52 per share is comprised of distributions from net investment income of $.225 and distributions from net realized gain of $.295 per share.

^H Total distributions of $.28 per share is comprised of distributions from net investment income of $.189 and distributions from net realized gain of $.087 per share.

See accompanying notes which are an integral part of the financial statements.

Annual Report

Financial Highlights - Class T

Years ended March 31,	2010	2009	2008	2007	2006
Selected Per-Share Data
Net asset value, beginning of period	$ 7.96	$ 12.72	$ 13.47	$ 12.83	$ 11.52
Income from Investment Operations
Net investment income (loss) ^C	.17	.23	.25	.21	.16
Net realized and unrealized gain (loss)	3.32	(4.34)	(.49)	.92	1.36
Total from investment operations	3.49	(4.11)	(.24)	1.13	1.52
Distributions from net investment income	(.16)	(.22)	(.21)	(.19)	(.13)
Distributions from net realized gain	(.09)	(.43)	(.30)	(.30)	(.08)
Total distributions	(.25) ^G	(.65)	(.51)	(.49) ^F	(.21)
Net asset value, end of period	$ 11.20	$ 7.96	$ 12.72	$ 13.47	$ 12.83
Total Return^A,B	44.02%	(33.56)%	(2.02)%	8.97%	13.28%
Ratios to Average Net Assets^D,E
Expenses before reductions	.50%	.50%	.50%	.50%	.51%
Expenses net of fee waivers, if any	.50%	.50%	.50%	.50%	.51%
Expenses net of all reductions	.50%	.50%	.50%	.50%	.51%
Net investment income (loss)	1.67%	2.24%	1.82%	1.63%	1.35%
Supplemental Data
Net assets, end of period (000 omitted)	$ 488,097	$ 343,919	$ 458,465	$ 431,886	$ 296,477
Portfolio turnover rate	26%	31%	10%	13%	6%

^A Total returns would have been lower had certain expenses not been reduced during the periods shown.

^B Total returns do not include the effect of the sales charges.

^C Calculated based on average shares outstanding during the period.

^D Amounts do not include the activity of the underlying funds.

^F Total distributions of $.49 per share is comprised of distributions from net investment income of $.194 and distributions from net realized gain of $.295 per share.

^G Total distributions of $.25 per share is comprised of distributions from net investment income of $.163 and distributions from net realized gain of $.087 per share.

Financial Highlights - Class B

Years ended March 31,	2010	2009	2008	2007	2006
Selected Per-Share Data
Net asset value, beginning of period	$ 7.94	$ 12.66	$ 13.41	$ 12.78	$ 11.48
Income from Investment Operations
Net investment income (loss) ^C	.12	.18	.18	.15	.10
Net realized and unrealized gain (loss)	3.31	(4.31)	(.48)	.91	1.35
Total from investment operations	3.43	(4.13)	(.30)	1.06	1.45
Distributions from net investment income	(.12)	(.16)	(.15)	(.13)	(.08)
Distributions from net realized gain	(.09)	(.43)	(.30)	(.30)	(.07)
Total distributions	(.20) ^G	(.59)	(.45)	(.43) ^F	(.15)
Net asset value, end of period	$ 11.17	$ 7.94	$ 12.66	$ 13.41	$ 12.78
Total Return^A,B	43.34%	(33.87)%	(2.51)%	8.40%	12.71%
Ratios to Average Net Assets^D,E
Expenses before reductions	1.00%	1.00%	1.00%	1.00%	1.01%
Expenses net of fee waivers, if any	1.00%	1.00%	1.00%	1.00%	1.01%
Expenses net of all reductions	1.00%	1.00%	1.00%	1.00%	1.01%
Net investment income (loss)	1.17%	1.74%	1.32%	1.13%	.85%
Supplemental Data
Net assets, end of period (000 omitted)	$ 71,888	$ 52,871	$ 89,049	$ 85,981	$ 71,232
Portfolio turnover rate	26%	31%	10%	13%	6%

^A Total returns would have been lower had certain expenses not been reduced during the periods shown.

^B Total returns do not include the effect of the contingent deferred sales charge.

^C Calculated based on average shares outstanding during the period.

^D Amounts do not include the activity of the underlying funds.

^F Total distributions of $.43 per share is comprised of distributions from net investment income of $.131 and distributions from net realized gain of $.295 per share.

^G Total distributions of $.20 per share is comprised of distributions from net investment income of $.115 and distributions from net realized gain of $.087 per share.

See accompanying notes which are an integral part of the financial statements.

Annual Report

Financial Highlights - Class C

Years ended March 31,	2010	2009	2008	2007	2006
Selected Per-Share Data
Net asset value, beginning of period	$ 7.92	$ 12.64	$ 13.40	$ 12.77	$ 11.48
Income from Investment Operations
Net investment income (loss) ^C	.12	.18	.18	.15	.10
Net realized and unrealized gain (loss)	3.31	(4.31)	(.49)	.91	1.34
Total from investment operations	3.43	(4.13)	(.31)	1.06	1.44
Distributions from net investment income	(.12)	(.16)	(.15)	(.14)	(.08)
Distributions from net realized gain	(.09)	(.43)	(.30)	(.30)	(.07)
Total distributions	(.21) ^G	(.59)	(.45)	(.43) ^F	(.15)
Net asset value, end of period	$ 11.14	$ 7.92	$ 12.64	$ 13.40	$ 12.77
Total Return^A,B	43.38%	(33.90)%	(2.56)%	8.45%	12.66%
Ratios to Average Net Assets^D,E
Expenses before reductions	1.00%	1.00%	1.00%	1.00%	1.01%
Expenses net of fee waivers, if any	1.00%	1.00%	1.00%	1.00%	1.01%
Expenses net of all reductions	1.00%	1.00%	1.00%	1.00%	1.01%
Net investment income (loss)	1.17%	1.74%	1.32%	1.14%	.85%
Supplemental Data
Net assets, end of period (000 omitted)	$ 93,237	$ 62,702	$ 95,224	$ 85,076	$ 61,442
Portfolio turnover rate	26%	31%	10%	13%	6%

^A Total returns would have been lower had certain expenses not been reduced during the periods shown.

^B Total returns do not include the effect of the contingent deferred sales charge.

^C Calculated based on average shares outstanding during the period.

^D Amounts do not include the activity of the underlying funds.

^F Total distributions of $.43 per share is comprised of distributions from net investment income of $.135 and distributions from net realized gain of $.295 per share.

^G Total distributions of $.21 per share is comprised of distributions from net investment income of $.119 and distributions from net realized gain of $.087 per share.

Financial Highlights - Institutional Class

Years ended March 31,	2010	2009	2008	2007	2006
Selected Per-Share Data
Net asset value, beginning of period	$ 8.01	$ 12.79	$ 13.55	$ 12.90	$ 11.57
Income from Investment Operations
Net investment income (loss) ^B	.22	.28	.32	.28	.23
Net realized and unrealized gain (loss)	3.34	(4.35)	(.50)	.92	1.36
Total from investment operations	3.56	(4.07)	(.18)	1.20	1.59
Distributions from net investment income	(.21)	(.28)	(.28)	(.25)	(.18)
Distributions from net realized gain	(.09)	(.43)	(.30)	(.30)	(.08)
Total distributions	(.30) ^G	(.71)	(.58)	(.55) ^F	(.26)
Net asset value, end of period	$ 11.27	$ 8.01	$ 12.79	$ 13.55	$ 12.90
Total Return^A	44.65%	(33.16)%	(1.62)%	9.47%	13.88%
Ratios to Average Net Assets^C,E
Expenses before reductions	.00% ^D	.00% ^D	.00% ^D	.00% ^D	.01%
Expenses net of fee waivers, if any	.00%	.00%	.00%	.00%	.00%
Expenses net of all reductions	.00%	.00%	.00%	.00%	.00%
Net investment income (loss)	2.17%	2.74%	2.32%	2.13%	1.85%
Supplemental Data
Net assets, end of period (000 omitted)	$ 214,905	$ 105,660	$ 87,568	$ 38,153	$ 21,212
Portfolio turnover rate	26%	31%	10%	13%	6%

^A Total returns would have been lower had certain expenses not been reduced during the periods shown.

^B Calculated based on average shares outstanding during the period.

^C Amounts do not include the activity of the underlying funds.

^D Amount represents less than .01%.

^F Total distributions of $.55 per share is comprised of distributions from net investment income of $.252 and distributions from net realized gain of $.295 per share.

^G Total distributions of $.30 per share is comprised of distributions from net investment income of $.211 and distributions from net realized gain of $.087 per share.

See accompanying notes which are an integral part of the financial statements.

Annual Report

Fidelity Advisor Freedom 2025 Fund

Investment Changes (Unaudited)

Fund Holdings as of March 31, 2010
	% of fund's net assets	% of fund's net assets 6 months ago
Commodity Funds
Fidelity Series Commodity Strategy Fund	3.0	0.0
Domestic Equity Funds
Fidelity Advisor Equity Growth Fund Institutional Class	5.3	5.9
Fidelity Advisor Equity Income Fund Institutional Class	4.3	8.2
Fidelity Advisor Growth & Income Fund Institutional Class	7.9	9.0
Fidelity Advisor Large Cap Fund Institutional Class	7.5	8.5
Fidelity Advisor Small Cap Fund Institutional Class	2.4	2.5
Fidelity Series 100 Index Fund	4.9	4.3
Fidelity Series All-Sector Equity Fund	10.3	11.0
Fidelity Series Large Cap Value Fund	6.3	4.3
Fidelity Series Small Cap Opportunities Fund	2.6	2.8
	51.5	56.5
Developed International Equity Funds
Fidelity Advisor Diversified International Fund Institutional Class	5.6	6.5
Fidelity Advisor Overseas Fund Institutional Class	5.6	6.4
Fidelity Series International Growth Fund	1.3	0.0
Fidelity Series International Small Cap Fund	0.3	0.0
Fidelity Series International Value Fund	1.3	0.0
	14.1	12.9
Emerging Markets Equity Funds
Fidelity Series Emerging Markets Fund	1.9	1.1
High Yield Bond Funds
Fidelity Advisor High Income Advantage Fund Institutional Class	7.5	8.1
Inflation-Protected Bond Funds
Fidelity Series Inflation-Protected Bond Index Fund	1.6	0.2
Investment Grade Bond Funds
Fidelity Advisor Strategic Real Return Fund Institutional Class	3.6	3.9
Fidelity Advisor Total Bond Fund Institutional Class	1.5	4.4
Fidelity Series Investment Grade Bond Fund	15.3	12.9
	20.4	21.2
Short-Term Funds
Fidelity Advisor Short Fixed-Income Fund Institutional Class	0.0*	0.0
Fidelity Institutional Money Market Portfolio Institutional Class	0.0*	0.0
	0.0*	0.0
	100.0	100.0

* Amount represents less than 0.1%

Asset Allocation (% of fund's net assets)
Current
	Commodity Funds	3.0%
	Domestic Equity Funds	51.5%
	Developed International Equity Funds	14.1%
	Emerging Markets Equity Funds	1.9%
	High Yield Bond Funds	7.5%
	Inflation-Protected Bond Funds	1.6%
	Investment Grade Bond Funds	20.4%
	Short-Term Funds	0.0%*

fid274

Six months ago
	Domestic Equity Funds	56.5%
	Developed International Equity Funds	12.9%
	Emerging Markets Equity Funds	1.1%
	High Yield Bond Funds	8.1%
	Inflation-Protected Bond Funds	0.2%
	Investment Grade Bond Funds	21.2%

fid282

Expected
	Commodity Funds	6.6%
	Domestic Equity Funds	45.2%
	Developed International Equity Funds	15.5%
	Emerging Markets Equity Funds	2.5%
	High Yield Bond Funds	7.5%
	Inflation-Protected Bond Funds	3.7%
	Investment Grade Bond Funds	19.0%
	Short-Term Funds	0.0%

fid293

Annual Report

Fidelity Advisor Freedom 2025 Fund

Investments March 31, 2010

Showing Percentage of Net Assets

Domestic Equity Funds - 54.5%
	Shares		Value
Commodity Funds - 3.0%
Fidelity Series Commodity Strategy Fund	4,163,260		$ 43,630,963
Domestic Equity Funds - 51.5%
Fidelity Advisor Equity Growth Fund Institutional Class (a)	1,549,713		76,772,794
Fidelity Advisor Equity Income Fund Institutional Class	2,806,930		62,622,599
Fidelity Advisor Growth & Income Fund Institutional Class	7,240,231		115,192,075
Fidelity Advisor Large Cap Fund Institutional Class	6,403,131		110,389,982
Fidelity Advisor Small Cap Fund Institutional Class (a)	1,485,240		35,333,849
Fidelity Series 100 Index Fund	8,679,926		71,956,588
Fidelity Series All-Sector Equity Fund	12,503,551		150,292,679
Fidelity Series Large Cap Value Fund	7,778,623		92,332,255
Fidelity Series Small Cap Opportunities Fund (a)	4,280,363		38,180,837
TOTAL DOMESTIC EQUITY FUNDS			753,073,658
TOTAL DOMESTIC EQUITY FUNDS (Cost $769,133,689)		796,704,621
International Equity Funds - 16.0%

Developed International Equity Funds - 14.1%
Fidelity Advisor Diversified International Fund Institutional Class	5,422,085		82,090,373
Fidelity Advisor Overseas Fund Institutional Class	4,919,252		82,545,051
Fidelity Series International Growth Fund	1,929,158		19,175,828
Fidelity Series International Small Cap Fund	392,939		4,019,771
Fidelity Series International Value Fund	1,980,370		19,130,372
TOTAL DEVELOPED INTERNATIONAL EQUITY FUNDS			206,961,395
Emerging Markets Equity Funds - 1.9%
Fidelity Series Emerging Markets Fund	1,648,327		27,625,962
TOTAL INTERNATIONAL EQUITY FUNDS (Cost $254,292,204)		234,587,357
Bond Funds - 29.5%
	Shares		Value
High Yield Bond Funds - 7.5%
Fidelity Advisor High Income Advantage Fund Institutional Class	12,230,244		$ 109,827,590
Inflation-Protected Bond Funds - 1.6%
Fidelity Series Inflation-Protected Bond Index Fund	2,210,988		22,684,738
Investment Grade Bond Funds - 20.4%
Fidelity Advisor Strategic Real Return Fund Institutional Class	6,141,100		53,120,512
Fidelity Advisor Total Bond Fund Institutional Class	2,046,059		21,749,608
Fidelity Series Investment Grade Bond Fund	19,571,882		223,902,327
TOTAL INVESTMENT GRADE BOND FUNDS			298,772,447
TOTAL BOND FUNDS (Cost $420,936,875)		431,284,775
Short-Term Funds - 0.0%

Fidelity Advisor Short Fixed-Income Fund Institutional Class	517		4,715
Fidelity Institutional Money Market Portfolio Institutional Class	4,700		4,700
TOTAL SHORT-TERM FUNDS (Cost $9,413)		9,415
TOTAL INVESTMENT PORTFOLIO - 100.0% (Cost $1,444,372,181)			1,462,586,168
NET OTHER ASSETS - 0.0%			(375,450)
NET ASSETS - 100%		$ 1,462,210,718

Legend

(a) Non-income producing

Other Information

Income Tax Information

At March 31, 2010, the fund had a capital loss carryforward of approximately $53,781,443 all of which will expire on March 31, 2017.

The fund intends to elect to defer to its fiscal year ending March 31, 2011 approximately $25,145,573 of losses recognized during the period November 1, 2009 to March 31, 2010.

See accompanying notes which are an integral part of the financial statements.

Annual Report

Fidelity Advisor Freedom 2025 Fund

Financial Statements

Statement of Assets and Liabilities

	March 31, 2010
Assets
Investment in securities, at value (cost $1,444,372,181) - See accompanying schedule		$ 1,462,586,168
Cash		9
Receivable for investments sold		72,280
Receivable for fund shares sold		1,463,376
Total assets		1,464,121,833

Liabilities
Payable for investments purchased	$ 44,197
Payable for fund shares redeemed	1,487,820
Distribution fees payable	379,098
Total liabilities		1,911,115

Net Assets		$ 1,462,210,718
Net Assets consist of:
Paid in capital		$ 1,524,364,439
Undistributed net investment income		2,411,656
Accumulated undistributed net realized gain (loss) on investments		(82,779,364)
Net unrealized appreciation (depreciation) on investments		18,213,987
Net Assets		$ 1,462,210,718

Calculation of Maximum Offering Price Class A: Net Asset Value and redemption price per share ($999,687,453 ÷ 92,896,401 shares)		$ 10.76

Maximum offering price per share (100/94.25 of $10.76)		$ 11.42
Class T: Net Asset Value and redemption price per share ($230,003,037 ÷ 21,332,241 shares)		$ 10.78

Maximum offering price per share (100/96.50 of $10.78)		$ 11.17
Class B: Net Asset Value and offering price per share ($38,816,183 ÷ 3,628,560 shares)^A		$ 10.70

Class C: Net Asset Value and offering price per share ($52,756,323 ÷ 4,941,656 shares)^A		$ 10.68

Institutional Class: Net Asset Value, offering price and redemption price per share ($140,947,722 ÷ 13,019,341 shares)		$ 10.83

^A Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge.

Statement of Operations

	Year ended March 31, 2010

Investment Income
Income distributions from underlying funds		$ 24,000,183

Expenses
Distribution fees	$ 3,707,387
Independent trustees' compensation	3,745
Total expenses before reductions	3,711,132
Expense reductions	(3,745)	3,707,387
Net investment income (loss)		20,292,796
Realized and Unrealized Gain (Loss) Realized gain (loss) on sale of underlying fund shares	(23,304,373)
Capital gain distributions from underlying funds	16,956,292	(6,348,081)
Change in net unrealized appreciation (depreciation) on underlying funds		385,554,148
Net gain (loss)		379,206,067
Net increase (decrease) in net assets resulting from operations		$ 399,498,863

See accompanying notes which are an integral part of the financial statements.

Annual Report

Fidelity Advisor Freedom 2025 Fund
Financial Statements - continued

Statement of Changes in Net Assets

	Year ended March 31, 2010	Year ended March 31, 2009
Increase (Decrease) in Net Assets
Operations
Net investment income (loss)	$ 20,292,796	$ 19,856,130
Net realized gain (loss)	(6,348,081)	(60,831,662)
Change in net unrealized appreciation (depreciation)	385,554,148	(328,423,663)
Net increase (decrease) in net assets resulting from operations	399,498,863	(369,399,195)
Distributions to shareholders from net investment income	(20,082,625)	(19,629,825)
Distributions to shareholders from net realized gain	(10,724,553)	(30,018,396)
Total distributions	(30,807,178)	(49,648,221)
Share transactions - net increase (decrease)	313,035,081	330,490,319
Total increase (decrease) in net assets	681,726,766	(88,557,097)

Net Assets
Beginning of period	780,483,952	869,041,049
End of period (including undistributed net investment income of $2,411,656 and undistributed net investment income of $2,201,483, respectively)	$ 1,462,210,718	$ 780,483,952

Financial Highlights - Class A

Years ended March 31,	2010	2009	2008	2007	2006
Selected Per-Share Data
Net asset value, beginning of period	$ 7.51	$ 12.26	$ 13.01	$ 12.34	$ 10.96
Income from Investment Operations
Net investment income (loss) ^C	.18	.23	.26	.22	.17
Net realized and unrealized gain (loss)	3.32	(4.36)	(.50)	.90	1.39
Total from investment operations	3.50	(4.13)	(.24)	1.12	1.56
Distributions from net investment income	(.17)	(.22)	(.22)	(.19)	(.13)
Distributions from net realized gain	(.09)	(.40)	(.29)	(.26)	(.05)
Total distributions	(.25) ^F	(.62)	(.51)	(.45)	(.18)
Net asset value, end of period	$ 10.76	$ 7.51	$ 12.26	$ 13.01	$ 12.34
Total Return ^{A, B}	46.86%	(34.98)%	(2.14)%	9.26%	14.35%
Ratios to Average Net Assets ^{D, E}
Expenses before reductions	.25%	.25%	.25%	.25%	.26%
Expenses net of fee waivers, if any	.25%	.25%	.25%	.25%	.25%
Expenses net of all reductions	.25%	.25%	.25%	.25%	.25%
Net investment income (loss)	1.82%	2.41%	1.95%	1.79%	1.44%
Supplemental Data
Net assets, end of period (000 omitted)	$ 999,687	$ 512,482	$ 558,890	$ 306,544	$ 128,504
Portfolio turnover rate	19%	29%	10%	3%	5%

^A Total returns would have been lower had certain expenses not been reduced during the periods shown.

^B Total returns do not include the effect of the sales charges.

^C Calculated based on average shares outstanding during the period.

^D Amounts do not include the activity of the underlying funds.

^F Total distributions of $.25 per share is comprised of distributions from net investment income of $.169 and distributions from net realized gain of $.085 per share.

See accompanying notes which are an integral part of the financial statements.

Annual Report

Financial Highlights - Class T

Years ended March 31,	2010	2009	2008	2007	2006
Selected Per-Share Data
Net asset value, beginning of period	$ 7.52	$ 12.28	$ 13.03	$ 12.35	$ 10.97
Income from Investment Operations
Net investment income (loss) ^C	.15	.21	.23	.19	.14
Net realized and unrealized gain (loss)	3.34	(4.37)	(.51)	.91	1.39
Total from investment operations	3.49	(4.16)	(.28)	1.10	1.53
Distributions from net investment income	(.15)	(.20)	(.18)	(.16)	(.11)
Distributions from net realized gain	(.09)	(.40)	(.29)	(.26)	(.05)
Total distributions	(.23) ^G	(.60)	(.47)	(.42)	(.15) ^F
Net asset value, end of period	$ 10.78	$ 7.52	$ 12.28	$ 13.03	$ 12.35
Total Return ^{A, B}	46.60%	(35.20)%	(2.40)%	9.10%	14.07%
Ratios to Average Net Assets ^{D, E}
Expenses before reductions	.50%	.50%	.50%	.50%	.51%
Expenses net of fee waivers, if any	.50%	.50%	.50%	.50%	.50%
Expenses net of all reductions	.50%	.50%	.50%	.50%	.50%
Net investment income (loss)	1.57%	2.16%	1.70%	1.54%	1.19%
Supplemental Data
Net assets, end of period (000 omitted)	$ 230,003	$ 139,330	$ 173,946	$ 154,042	$ 83,955
Portfolio turnover rate	19%	29%	10%	3%	5%

^A Total returns would have been lower had certain expenses not been reduced during the periods shown.

^B Total returns do not include the effect of the sales charges.

^C Calculated based on average shares outstanding during the period.

^D Amounts do not include the activity of the underlying funds.

^F Total distributions of $.15 per share is comprised of distributions from net investment income of $.108 and distributions from net realized gain of $.046 per share.

^G Total distributions of $.23 per share is comprised of distributions from net investment income of $.146 and distributions from net realized gain of $.085 per share.

Financial Highlights - Class B

Years ended March 31,	2010	2009	2008	2007	2006
Selected Per-Share Data
Net asset value, beginning of period	$ 7.47	$ 12.17	$ 12.93	$ 12.26	$ 10.91
Income from Investment Operations
Net investment income (loss) ^C	.10	.16	.16	.13	.08
Net realized and unrealized gain (loss)	3.32	(4.32)	(.51)	.90	1.38
Total from investment operations	3.42	(4.16)	(.35)	1.03	1.46
Distributions from net investment income	(.10)	(.14)	(.12)	(.10)	(.07)
Distributions from net realized gain	(.09)	(.40)	(.29)	(.26)	(.04)
Total distributions	(.19) ^F	(.54)	(.41)	(.36)	(.11)
Net asset value, end of period	$ 10.70	$ 7.47	$ 12.17	$ 12.93	$ 12.26
Total Return ^{A, B}	45.83%	(35.45)%	(2.95)%	8.57%	13.46%
Ratios to Average Net Assets ^{D, E}
Expenses before reductions	1.00%	1.00%	1.00%	1.00%	1.01%
Expenses net of fee waivers, if any	1.00%	1.00%	1.00%	1.00%	1.01%
Expenses net of all reductions	1.00%	1.00%	1.00%	1.00%	1.01%
Net investment income (loss)	1.07%	1.66%	1.20%	1.04%	.69%
Supplemental Data
Net assets, end of period (000 omitted)	$ 38,816	$ 27,207	$ 43,016	$ 37,881	$ 27,111
Portfolio turnover rate	19%	29%	10%	3%	5%

^A Total returns would have been lower had certain expenses not been reduced during the periods shown.

^B Total returns do not include the effect of the contingent deferred sales charge.

^C Calculated based on average shares outstanding during the period.

^D Amounts do not include the activity of the underlying funds.

^F Total distributions of $.19 per share is comprised of distributions from net investment income of $.100 and distributions from net realized gain of $.085 per share.

See accompanying notes which are an integral part of the financial statements.

Annual Report

Financial Highlights - Class C

Years ended March 31,	2010	2009	2008	2007	2006
Selected Per-Share Data
Net asset value, beginning of period	$ 7.46	$ 12.16	$ 12.92	$ 12.26	$ 10.91
Income from Investment Operations
Net investment income (loss) ^C	.10	.16	.16	.13	.08
Net realized and unrealized gain (loss)	3.31	(4.32)	(.50)	.89	1.38
Total from investment operations	3.41	(4.16)	(.34)	1.02	1.46
Distributions from net investment income	(.11)	(.14)	(.13)	(.10)	(.07)
Distributions from net realized gain	(.09)	(.40)	(.29)	(.26)	(.04)
Total distributions	(.19) ^F	(.54)	(.42)	(.36)	(.11)
Net asset value, end of period	$ 10.68	$ 7.46	$ 12.16	$ 12.92	$ 12.26
Total Return ^{A, B}	45.83%	(35.44)%	(2.91)%	8.51%	13.46%
Ratios to Average Net Assets ^{D, E}
Expenses before reductions	1.00%	1.00%	1.00%	1.00%	1.01%
Expenses net of fee waivers, if any	1.00%	1.00%	1.00%	1.00%	1.01%
Expenses net of all reductions	1.00%	1.00%	1.00%	1.00%	1.01%
Net investment income (loss)	1.07%	1.66%	1.20%	1.04%	.69%
Supplemental Data
Net assets, end of period (000 omitted)	$ 52,756	$ 31,735	$ 40,426	$ 32,679	$ 20,323
Portfolio turnover rate	19%	29%	10%	3%	5%

^A Total returns would have been lower had certain expenses not been reduced during the periods shown.

^B Total returns do not include the effect of the contingent deferred sales charge.

^C Calculated based on average shares outstanding during the period.

^D Amounts do not include the activity of the underlying funds.

^F Total distributions of $.19 per share is comprised of distributions from net investment income of $.105 and distributions from net realized gain of $.085 per share.

Financial Highlights - Institutional Class

Years ended March 31,	2010	2009	2008	2007	2006
Selected Per-Share Data
Net asset value, beginning of period	$ 7.55	$ 12.33	$ 13.08	$ 12.39	$ 10.99
Income from Investment Operations
Net investment income (loss) ^B	.20	.26	.29	.25	.20
Net realized and unrealized gain (loss)	3.35	(4.39)	(.50)	.91	1.40
Total from investment operations	3.55	(4.13)	(.21)	1.16	1.60
Distributions from net investment income	(.19)	(.25)	(.25)	(.21)	(.15)
Distributions from net realized gain	(.09)	(.40)	(.29)	(.26)	(.05)
Total distributions	(.27)^F	(.65)	(.54)	(.47)	(.20)
Net asset value, end of period	$ 10.83	$ 7.55	$ 12.33	$ 13.08	$ 12.39
Total Return ^A	47.31%	(34.83)%	(1.93)%	9.60%	14.69%
Ratios to Average Net Assets ^{C, E}
Expenses before reductions	.00% ^D	.00% ^D	.00% ^D	.00% ^D	.01%
Expenses net of fee waivers, if any	.00%	.00%	.00%	.00%	.00%
Expenses net of all reductions	.00%	.00%	.00%	.00%	.00%
Net investment income (loss)	2.07%	2.66%	2.20%	2.04%	1.69%
Supplemental Data
Net assets, end of period (000 omitted)	$ 140,948	$ 69,731	$ 52,762	$ 13,903	$ 5,167
Portfolio turnover rate	19%	29%	10%	3%	5%

^A Total returns would have been lower had certain expenses not been reduced during the periods shown.

^B Calculated based on average shares outstanding during the period.

^C Amounts do not include the activity of the underlying funds.

^D Amount represents less than .01%.

^F Total distributions of $.27 per share is comprised of distributions from net investment income of $.189 and distributions from net realized gain of $.085 per share.

See accompanying notes which are an integral part of the financial statements.

Annual Report

Fidelity Advisor Freedom 2030 Fund

Investment Changes (Unaudited)

Fund Holdings as of March 31, 2010
	% of fund's net assets	% of fund's net assets 6 months ago
Commodity Funds
Fidelity Series Commodity Strategy Fund	3.2	0.0
Domestic Equity Funds
Fidelity Advisor Equity Growth Fund Institutional Class	5.7	6.5
Fidelity Advisor Equity Income Fund Institutional Class	4.7	9.0
Fidelity Advisor Growth & Income Fund Institutional Class	8.6	10.0
Fidelity Advisor Large Cap Fund Institutional Class	8.2	9.5
Fidelity Advisor Small Cap Fund Institutional Class	2.6	2.8
Fidelity Series 100 Index Fund	5.4	4.6
Fidelity Series All-Sector Equity Fund	11.2	12.4
Fidelity Series Large Cap Value Fund	6.9	4.9
Fidelity Series Small Cap Opportunities Fund	2.8	3.2
	56.1	62.9
Developed International Equity Funds
Fidelity Advisor Diversified International Fund Institutional Class	6.1	7.1
Fidelity Advisor Overseas Fund Institutional Class	6.2	7.1
Fidelity Series International Growth Fund	1.4	0.0
Fidelity Series International Small Cap Fund	0.3	0.0
Fidelity Series International Value Fund	1.4	0.0
	15.4	14.2
Emerging Markets Equity Funds
Fidelity Series Emerging Markets Fund	2.0	1.4
High Yield Bond Funds
Fidelity Advisor High Income Advantage Fund Institutional Class	7.5	8.0
Inflation-Protected Bond Funds
Fidelity Series Inflation-Protected Bond Index Fund	0.2	0.0*
Investment Grade Bond Funds
Fidelity Advisor Strategic Real Return Fund Institutional Class	2.8	2.5
Fidelity Advisor Total Bond Fund Institutional Class	1.1	2.8
Fidelity Series Investment Grade Bond Fund	11.7	8.2
	15.6	13.5
	100.0	100.0

* Amount represents less than 0.1%

Asset Allocation (% of fund's net assets)
Current
	Commodity Funds	3.2%
	Domestic Equity Funds	56.1%
	Developed International Equity Funds	15.4%
	Emerging Markets Equity Funds	2.0%
	High Yield Bond Funds	7.5%
	Inflation-Protected Bond Funds	0.2%
	Investment Grade Bond Funds	15.6%

fid302

Six months ago
	Domestic Equity Funds	62.9%
	Developed International Equity Funds	14.2%
	Emerging Markets Equity Funds	1.4%
	High Yield Bond Funds	8.0%
	Inflation-Protected Bond Funds	0.0%
	Investment Grade Bond Funds	13.5%

fid310

Expected
	Commodity Funds	7.1%
	Domestic Equity Funds	48.4%
	Developed International Equity Funds	16.6%
	Emerging Markets Equity Funds	2.7%
	High Yield Bond Funds	7.5%
	Inflation-Protected Bond Funds	0.8%
	Investment Grade Bond Funds	16.9%

fid319

Annual Report

Fidelity Advisor Freedom 2030 Fund

Investments March 31, 2010

Showing Percentage of Net Assets

Domestic Equity Funds - 59.3%
	Shares		Value
Commodity Funds - 3.2%
Fidelity Series Commodity Strategy Fund	5,271,915		$ 55,249,666
Domestic Equity Funds - 56.1%
Fidelity Advisor Equity Growth Fund Institutional Class (a)	1,969,965		97,592,054
Fidelity Advisor Equity Income Fund Institutional Class	3,566,358		79,565,441
Fidelity Advisor Growth & Income Fund Institutional Class	9,193,658		146,271,105
Fidelity Advisor Large Cap Fund Institutional Class	8,128,459		140,134,638
Fidelity Advisor Small Cap Fund Institutional Class (a)	1,888,422		44,925,569
Fidelity Series 100 Index Fund	11,028,609		91,427,166
Fidelity Series All-Sector Equity Fund	15,891,103		191,011,053
Fidelity Series Large Cap Value Fund	9,859,298		117,029,862
Fidelity Series Small Cap Opportunities Fund (a)	5,432,538		48,458,241
TOTAL DOMESTIC EQUITY FUNDS			956,415,129
TOTAL DOMESTIC EQUITY FUNDS (Cost $977,433,695)		1,011,664,795
International Equity Funds - 17.4%

Developed International Equity Funds - 15.4%
Fidelity Advisor Diversified International Fund Institutional Class	6,886,153		104,256,353
Fidelity Advisor Overseas Fund Institutional Class	6,256,787		104,988,887
Fidelity Series International Growth Fund	2,454,229		24,395,032
Fidelity Series International Small Cap Fund	491,446		5,027,493
Fidelity Series International Value Fund	2,519,354		24,336,963
TOTAL DEVELOPED INTERNATIONAL EQUITY FUNDS			263,004,728

	Shares		Value
Emerging Markets Equity Funds - 2.0%
Fidelity Series Emerging Markets Fund	2,086,136		$ 34,963,646
TOTAL INTERNATIONAL EQUITY FUNDS (Cost $323,974,314)		297,968,374
Bond Funds - 23.3%

High Yield Bond Funds - 7.5%
Fidelity Advisor High Income Advantage Fund Institutional Class	14,245,293		127,922,733
Inflation-Protected Bond Funds - 0.2%
Fidelity Series Inflation-Protected Bond Index Fund	369,917		3,795,351
Investment Grade Bond Funds - 15.6%
Fidelity Advisor Strategic Real Return Fund Institutional Class	5,449,753		47,140,366
Fidelity Advisor Total Bond Fund Institutional Class	1,818,800		19,333,848
Fidelity Series Investment Grade Bond Fund	17,394,882		198,997,444
TOTAL INVESTMENT GRADE BOND FUNDS			265,471,658
TOTAL BOND FUNDS (Cost $387,822,263)		397,189,742
TOTAL INVESTMENT PORTFOLIO - 100.0% (Cost $1,689,230,272)			1,706,822,911
NET OTHER ASSETS - 0.0%			(468,116)
NET ASSETS - 100%		$ 1,706,354,795

Legend

(a) Non-income producing

Other Information

Income Tax Information

At March 31, 2010, the fund had a capital loss carryforward of approximately $75,012,132 all of which will expire on March 31, 2017.

The fund intends to elect to defer to its fiscal year ending March 31, 2011 approximately $40,381,036 of losses recognized during the period November 1, 2009 to March 31, 2010.

See accompanying notes which are an integral part of the financial statements.

Annual Report

Fidelity Advisor Freedom 2030 Fund

Financial Statements

Statement of Assets and Liabilities

	March 31, 2010
Assets
Investment in securities, at value (cost $1,689,230,272) - See accompanying schedule		$ 1,706,822,911
Cash		4
Receivable for investments sold		538,765
Receivable for fund shares sold		2,906,112
Total assets		1,710,267,792

Liabilities
Payable for investments purchased	$ 110,281
Payable for fund shares redeemed	3,334,657
Distribution fees payable	468,059
Total liabilities		3,912,997

Net Assets		$ 1,706,354,795
Net Assets consist of:
Paid in capital		$ 1,805,899,572
Undistributed net investment income		2,385,989
Accumulated undistributed net realized gain (loss) on investments		(119,523,405)
Net unrealized appreciation (depreciation) on investments		17,592,639
Net Assets		$ 1,706,354,795

Calculation of Maximum Offering Price Class A: Net Asset Value and redemption price per share ($1,030,971,552 ÷ 91,351,779 shares)		$ 11.29

Maximum offering price per share (100/94.25 of $11.29)		$ 11.98
Class T: Net Asset Value and redemption price per share ($382,091,540 ÷ 33,964,959 shares)		$ 11.25

Maximum offering price per share (100/96.50 of $11.25)		$ 11.66
Class B: Net Asset Value and offering price per share ($51,359,536 ÷ 4,582,772 shares)^A		$ 11.21

Class C: Net Asset Value and offering price per share ($63,700,424 ÷ 5,694,158 shares)^A		$ 11.19

Institutional Class: Net Asset Value, offering price and redemption price per share ($178,231,743 ÷ 15,729,894 shares)		$ 11.33

^A Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge.

Statement of Operations

	Year ended March 31, 2010
Investment Income
Income distributions from underlying funds		$ 25,415,548

Expenses
Distribution fees	$ 4,674,564
Independent trustees' compensation	4,423
Total expenses before reductions	4,678,987
Expense reductions	(4,423)	4,674,564
Net investment income (loss)		20,740,984
Realized and Unrealized Gain (Loss) Realized gain (loss) on sale of underlying fund shares	(36,945,800)
Capital gain distributions from underlying funds	20,532,775	(16,413,025)
Change in net unrealized appreciation (depreciation) on underlying funds		493,374,347
Net gain (loss)		476,961,322
Net increase (decrease) in net assets resulting from operations		$ 497,702,306

See accompanying notes which are an integral part of the financial statements.

Annual Report

Statement of Changes in Net Assets

	Year ended March 31, 2010	Year ended March 31, 2009
Increase (Decrease) in Net Assets
Operations
Net investment income (loss)	$ 20,740,984	$ 20,500,528
Net realized gain (loss)	(16,413,025)	(85,821,923)
Change in net unrealized appreciation (depreciation)	493,374,347	(433,071,093)
Net increase (decrease) in net assets resulting from operations	497,702,306	(498,392,488)
Distributions to shareholders from net investment income	(19,871,061)	(20,772,833)
Distributions to shareholders from net realized gain	(13,024,758)	(43,764,449)
Total distributions	(32,895,819)	(64,537,282)
Share transactions - net increase (decrease)	319,644,448	372,427,616
Total increase (decrease) in net assets	784,450,935	(190,502,154)

Net Assets
Beginning of period	921,903,860	1,112,406,014
End of period (including undistributed net investment income of $2,385,989 and undistributed net investment income of $1,516,067, respectively)	$ 1,706,354,795	$ 921,903,860

Financial Highlights - Class A

Years ended March 31,	2010	2009	2008	2007	2006
Selected Per-Share Data
Net asset value, beginning of period	$ 7.69	$ 13.29	$ 14.27	$ 13.47	$ 11.81
Income from Investment Operations
Net investment income (loss)^C	.16	.21	.22	.20	.15
Net realized and unrealized gain (loss)	3.68	(5.10)	(.63)	1.09	1.70
Total from investment operations	3.84	(4.89)	(.41)	1.29	1.85
Distributions from net investment income	(.15)	(.21)	(.19)	(.18)	(.11)
Distributions from net realized gain	(.09)	(.50)	(.38)	(.31)	(.08)
Total distributions	(.24)^F	(.71)	(.57)	(.49)	(.19)
Net asset value, end of period	$ 11.29	$ 7.69	$ 13.29	$ 14.27	$ 13.47
Total Return^A,B	50.17%	(38.49)%	(3.22)%	9.82%	15.84%
Ratios to Average Net Assets^D,E
Expenses before reductions	.25%	.25%	.25%	.25%	.26%
Expenses net of fee waivers, if any	.25%	.25%	.25%	.25%	.26%
Expenses net of all reductions	.25%	.25%	.25%	.25%	.26%
Net investment income (loss)	1.61%	2.08%	1.53%	1.49%	1.17%
Supplemental Data
Net assets, end of period (000 omitted)	$ 1,030,972	$ 527,042	$ 626,641	$ 343,345	$ 156,916
Portfolio turnover rate	20%	22%	10%	8%	4%

^A Total returns would have been lower had certain expenses not been reduced during the periods shown.

^B Total returns do not include the effect of the sales charges.

^C Calculated based on average shares outstanding during the period.

^D Amounts do not include the activity of the underlying funds.

^F Total distributions of $.24 per share is comprised of distributions from net investment income of $.151 and distributions from net realized gain of $.093 per share.

See accompanying notes which are an integral part of the financial statements.

Annual Report

Financial Highlights - Class T

Years ended March 31,	2010	2009	2008	2007	2006
Selected Per-Share Data
Net asset value, beginning of period	$ 7.67	$ 13.25	$ 14.23	$ 13.43	$ 11.78
Income from Investment Operations
Net investment income (loss) ^C	.14	.19	.19	.17	.11
Net realized and unrealized gain (loss)	3.66	(5.09)	(.64)	1.09	1.70
Total from investment operations	3.80	(4.90)	(.45)	1.26	1.81
Distributions from net investment income	(.13)	(.18)	(.15)	(.15)	(.09)
Distributions from net realized gain	(.09)	(.50)	(.38)	(.31)	(.08)
Total distributions	(.22)^G	(.68)	(.53)	(.46)	(.16)^F
Net asset value, end of period	$ 11.25	$ 7.67	$ 13.25	$ 14.23	$ 13.43
Total Return^A,B	49.72%	(38.62)%	(3.49)%	9.59%	15.52%
Ratios to Average Net Assets^D,E
Expenses before reductions	.50%	.50%	.50%	.50%	.51%
Expenses net of fee waivers, if any	.50%	.50%	.50%	.50%	.51%
Expenses net of all reductions	.50%	.50%	.50%	.50%	.51%
Net investment income (loss)	1.36%	1.83%	1.28%	1.24%	.92%
Supplemental Data
Net assets, end of period (000 omitted)	$ 382,092	$ 236,333	$ 297,618	$ 281,508	$ 184,029
Portfolio turnover rate	20%	22%	10%	8%	4%

^A Total returns would have been lower had certain expenses not been reduced during the periods shown.

^B Total returns do not include the effect of the sales charges.

^C Calculated based on average shares outstanding during the period.

^D Amounts do not include the activity of the underlying funds.

^F Total distributions of $.16 per share is comprised of distributions from net investment income of $.087 and distributions from net realized gain of $.077 per share.

^G Total distributions of $.22 per share is comprised of distributions from net investment income of $.128 and distributions from net realized gain of $.093 per share.

Financial Highlights - Class B

Years ended March 31,	2010	2009	2008	2007	2006
Selected Per-Share Data
Net asset value, beginning of period	$ 7.64	$ 13.17	$ 14.15	$ 13.37	$ 11.74
Income from Investment Operations
Net investment income (loss) ^C	.09	.14	.11	.10	.05
Net realized and unrealized gain (loss)	3.65	(5.06)	(.63)	1.08	1.70
Total from investment operations	3.74	(4.92)	(.52)	1.18	1.75
Distributions from net investment income	(.08)	(.11)	(.09)	(.09)	(.05)
Distributions from net realized gain	(.09)	(.50)	(.37)	(.31)	(.07)
Total distributions	(.17)^F	(.61)	(.46)	(.40)	(.12)
Net asset value, end of period	$ 11.21	$ 7.64	$ 13.17	$ 14.15	$ 13.37
Total Return^A,B	49.07%	(38.94)%	(3.96)%	8.98%	14.96%
Ratios to Average Net Assets^D,E
Expenses before reductions	1.00%	1.00%	1.00%	1.00%	1.01%
Expenses net of fee waivers, if any	1.00%	1.00%	1.00%	1.00%	1.01%
Expenses net of all reductions	1.00%	1.00%	1.00%	1.00%	1.01%
Net investment income (loss)	.86%	1.33%	.78%	.74%	.42%
Supplemental Data
Net assets, end of period (000 omitted)	$ 51,360	$ 35,701	$ 60,367	$ 56,845	$ 43,099
Portfolio turnover rate	20%	22%	10%	8%	4%

^A Total returns would have been lower had certain expenses not been reduced during the periods shown.

^B Total returns do not include the effect of the contingent deferred sales charge.

^C Calculated based on average shares outstanding during the period.

^D Amounts do not include the activity of the underlying funds.

^F Total distributions of $.17 per share is comprised of distributions from net investment income of $.080 and distributions from net realized gain of $.092 per share.

See accompanying notes which are an integral part of the financial statements.

Annual Report

Financial Highlights - Class C

Years ended March 31,	2010	2009	2008	2007	2006
Selected Per-Share Data
Net asset value, beginning of period	$ 7.63	$ 13.17	$ 14.15	$ 13.37	$ 11.74
Income from Investment Operations
Net investment income (loss) ^C	.09	.14	.11	.10	.05
Net realized and unrealized gain (loss)	3.65	(5.06)	(.63)	1.08	1.70
Total from investment operations	3.74	(4.92)	(.52)	1.18	1.75
Distributions from net investment income	(.08)	(.12)	(.09)	(.09)	(.05)
Distributions from net realized gain	(.09)	(.50)	(.37)	(.31)	(.07)
Total distributions	(.18)^F	(.62)	(.46)	(.40)	(.12)
Net asset value, end of period	$ 11.19	$ 7.63	$ 13.17	$ 14.15	$ 13.37
Total Return^A,B	49.06%	(38.96)%	(3.95)%	9.00%	14.99%
Ratios to Average Net Assets^D,E
Expenses before reductions	1.00%	1.00%	1.00%	1.00%	1.01%
Expenses net of fee waivers, if any	1.00%	1.00%	1.00%	1.00%	1.01%
Expenses net of all reductions	1.00%	1.00%	1.00%	1.00%	1.01%
Net investment income (loss)	.86%	1.33%	.78%	.74%	.42%
Supplemental Data
Net assets, end of period (000 omitted)	$ 63,700	$ 40,294	$ 58,768	$ 54,338	$ 37,940
Portfolio turnover rate	20%	22%	10%	8%	4%

^A Total returns would have been lower had certain expenses not been reduced during the periods shown.

^B Total returns do not include the effect of the contingent deferred sales charge.

^C Calculated based on average shares outstanding during the period.

^D Amounts do not include the activity of the underlying funds.

^F Total distributions of $.18 per share is comprised of distributions from net investment income of $.083 and distributions from net realized gain of $.093 per share.

Financial Highlights - Institutional Class

Years ended March 31,	2010	2009	2008	2007	2006
Selected Per-Share Data
Net asset value, beginning of period	$ 7.72	$ 13.34	$ 14.32	$ 13.51	$ 11.84
Income from Investment Operations
Net investment income (loss) ^B	.19	.23	.26	.24	.18
Net realized and unrealized gain (loss)	3.69	(5.11)	(.64)	1.09	1.71
Total from investment operations	3.88	(4.88)	(.38)	1.33	1.89
Distributions from net investment income	(.17)	(.24)	(.22)	(.21)	(.13)
Distributions from net realized gain	(.09)	(.50)	(.38)	(.31)	(.09)
Total distributions	(.27) ^F	(.74)	(.60)	(.52)	(.22)
Net asset value, end of period	$ 11.33	$ 7.72	$ 13.34	$ 14.32	$ 13.51
Total Return^A	50.42%	(38.31)%	(3.01)%	10.08%	16.10%
Ratios to Average Net Assets^C,E
Expenses before reductions	.00% ^D	.00% ^D	.00% ^D	.00% ^D	.01%
Expenses net of fee waivers, if any	.00%	.00%	.00%	.00%	.00%
Expenses net of all reductions	.00%	.00%	.00%	.00%	.00%
Net investment income (loss)	1.86%	2.33%	1.78%	1.74%	1.42%
Supplemental Data
Net assets, end of period (000 omitted)	$ 178,232	$ 82,534	$ 69,011	$ 24,902	$ 10,918
Portfolio turnover rate	20%	22%	10%	8%	4%

^A Total returns would have been lower had certain expenses not been reduced during the periods shown.

^B Calculated based on average shares outstanding during the period.

^C Amounts do not include the activity of the underlying funds.

^D Amount represents less than .01%.

^F Total distributions of $.27 per share is comprised of distributions from net investment income of $.173 and distributions from net realized gain of $.093 per share.

See accompanying notes which are an integral part of the financial statements.

Annual Report

Fidelity Advisor Freedom 2035 Fund

Investment Changes (Unaudited)

Fund Holdings as of March 31, 2010
	% of fund's net assets	% of fund's net assets 6 months ago
Commodity Funds
Fidelity Series Commodity Strategy Fund	3.5	0.0
Domestic Equity Funds
Fidelity Advisor Equity Growth Fund Institutional Class	6.2	6.8
Fidelity Advisor Equity Income Fund Institutional Class	5.0	9.1
Fidelity Advisor Growth & Income Fund Institutional Class	9.2	10.6
Fidelity Advisor Large Cap Fund Institutional Class	8.9	9.5
Fidelity Advisor Small Cap Fund Institutional Class	2.8	3.0
Fidelity Series 100 Index Fund	5.8	5.2
Fidelity Series All-Sector Equity Fund	12.1	13.0
Fidelity Series Large Cap Value Fund	7.4	5.4
Fidelity Series Small Cap Opportunities Fund	3.1	3.4
	60.5	66.0
Developed International Equity Funds
Fidelity Advisor Diversified International Fund Institutional Class	6.6	7.4
Fidelity Advisor Overseas Fund Institutional Class	6.6	7.3
Fidelity Series International Growth Fund	1.6	0.0
Fidelity Series International Small Cap Fund	0.3	0.0
Fidelity Series International Value Fund	1.5	0.0
	16.6	14.7
Emerging Markets Equity Funds
Fidelity Series Emerging Markets Fund	2.2	1.6
High Yield Bond Funds
Fidelity Advisor High Income Advantage Fund Institutional Class	7.5	8.0
Investment Grade Bond Funds
Fidelity Advisor Strategic Real Return Fund Institutional Class	1.7	1.8
Fidelity Advisor Total Bond Fund Institutional Class	0.7	2.0
Fidelity Series Investment Grade Bond Fund	7.3	5.9
	9.7	9.7
	100.0	100.0

Asset Allocation (% of fund's net assets)
Current
	Commodity Funds	3.5%
	Domestic Equity Funds	60.5%
	Developed International Equity Funds	16.6%
	Emerging Markets Equity Funds	2.2%
	High Yield Bond Funds	7.5%
	Investment Grade Bond Funds	9.7%

fid328

Six months ago
	Domestic Equity Funds	66.0%
	Developed International Equity Funds	14.7%
	Emerging Markets Equity Funds	1.6%
	High Yield Bond Funds	8.0%
	Investment Grade Bond Funds	9.7%

fid335

Expected
	Commodity Funds	7.8%
	Domestic Equity Funds	53.5%
	Developed International Equity Funds	18.3%
	Emerging Markets Equity Funds	2.9%
	High Yield Bond Funds	7.5%
	Investment Grade Bond Funds	10.0%

fid343

Annual Report

Fidelity Advisor Freedom 2035 Fund

Investments March 31, 2010

Showing Percentage of Net Assets

Domestic Equity Funds - 64.0%
	Shares		Value
Commodity Funds - 3.5%
Fidelity Series Commodity Strategy Fund	3,242,705		$ 33,983,553
Domestic Equity Funds - 60.5%
Fidelity Advisor Equity Growth Fund Institutional Class (a)	1,205,752		59,732,975
Fidelity Advisor Equity Income Fund Institutional Class	2,181,693		48,673,567
Fidelity Advisor Growth & Income Fund Institutional Class	5,627,524		89,533,903
Fidelity Advisor Large Cap Fund Institutional Class	4,979,675		85,849,600
Fidelity Advisor Small Cap Fund Institutional Class (a)	1,155,906		27,499,008
Fidelity Series 100 Index Fund	6,748,544		55,945,426
Fidelity Series All-Sector Equity Fund	9,724,464		116,888,058
Fidelity Series Large Cap Value Fund	6,044,562		71,748,956
Fidelity Series Small Cap Opportunities Fund (a)	3,320,515		29,618,995
TOTAL DOMESTIC EQUITY FUNDS			585,490,488
TOTAL DOMESTIC EQUITY FUNDS (Cost $600,978,621)		619,474,041
International Equity Funds - 18.8%

Developed International Equity Funds - 16.6%
Fidelity Advisor Diversified International Fund Institutional Class	4,214,019		63,800,252
Fidelity Advisor Overseas Fund Institutional Class	3,822,214		64,136,750
Fidelity Series International Growth Fund	1,509,475		15,004,183
Fidelity Series International Small Cap Fund	309,138		3,162,484
Fidelity Series International Value Fund	1,549,587		14,969,006
TOTAL DEVELOPED INTERNATIONAL EQUITY FUNDS			161,072,675

	Shares		Value
Emerging Markets Equity Funds - 2.2%
Fidelity Series Emerging Markets Fund	1,281,993		$ 21,486,205
TOTAL INTERNATIONAL EQUITY FUNDS (Cost $196,093,127)		182,558,880
Bond Funds - 17.2%

High Yield Bond Funds - 7.5%
Fidelity Advisor High Income Advantage Fund Institutional Class	8,071,351		72,480,730
Investment Grade Bond Funds - 9.7%
Fidelity Advisor Strategic Real Return Fund Institutional Class	1,937,962		16,763,374
Fidelity Advisor Total Bond Fund Institutional Class	646,234		6,869,467
Fidelity Series Investment Grade Bond Fund	6,179,024		70,688,033
TOTAL INVESTMENT GRADE BOND FUNDS			94,320,874
TOTAL BOND FUNDS (Cost $161,090,106)		166,801,604
TOTAL INVESTMENT PORTFOLIO - 100.0% (Cost $958,161,854)			968,834,525
NET OTHER ASSETS - 0.0%			(247,046)
NET ASSETS - 100%		$ 968,587,479

Legend

(a) Non-income producing

Other Information

Income Tax Information

At March 31, 2010, the fund had a capital loss carryforward of approximately $37,616,185 all of which will expire on March 31, 2017.

The fund intends to elect to defer to its fiscal year ending March 31, 2011 approximately $14,528,420 of losses recognized during the period November 1, 2009 to March 31, 2010.

See accompanying notes which are an integral part of the financial statements.

Annual Report

Fidelity Advisor Freedom 2035 Fund

Financial Statements

Statement of Assets and Liabilities

	March 31, 2010

Assets
Investment in securities, at value (cost $958,161,854) - See accompanying schedule		$ 968,834,525
Cash		10
Receivable for investments sold		875,924
Receivable for fund shares sold		1,238,438
Total assets		970,948,897

Liabilities
Payable for investments purchased	$ 169,895
Payable for fund shares redeemed	1,944,471
Distribution fees payable	247,052
Total liabilities		2,361,418

Net Assets		$ 968,587,479
Net Assets consist of:
Paid in capital		$ 1,012,106,109
Undistributed net investment income		873,654
Accumulated undistributed net realized gain (loss) on investments		(55,064,955)
Net unrealized appreciation (depreciation) on investments		10,672,671
Net Assets		$ 968,587,479

Calculation of Maximum Offering Price Class A: Net Asset Value and redemption price per share ($669,450,065 ÷ 62,880,935 shares)		$ 10.65

Maximum offering price per share (100/94.25 of $10.65)		$ 11.30
Class T: Net Asset Value and redemption price per share ($143,106,402 ÷ 13,501,626 shares)		$ 10.60

Maximum offering price per share (100/96.50 of $10.60)		$ 10.98
Class B: Net Asset Value and offering price per share ($27,408,282 ÷ 2,604,841 shares)^A		$ 10.52

Class C: Net Asset Value and offering price per share ($30,994,102 ÷ 2,945,530 shares)^A		$ 10.52

Institutional Class: Net Asset Value, offering price and redemption price per share ($97,628,628 ÷ 9,131,880 shares)		$ 10.69

^A Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge.

Statement of Operations

	Year ended March 31, 2010

Investment Income
Income distributions from underlying funds		$ 13,103,333

Expenses
Distribution fees	$ 2,347,634
Independent trustees' compensation	2,385
Total expenses before reductions	2,350,019
Expense reductions	(2,385)	2,347,634
Net investment income (loss)		10,755,699
Realized and Unrealized Gain (Loss) Realized gain (loss) on sale of underlying fund shares	(17,050,095)
Capital gain distributions from underlying funds	11,901,834	(5,148,261)
Change in net unrealized appreciation (depreciation) on underlying funds		267,687,993
Net gain (loss)		262,539,732
Net increase (decrease) in net assets resulting from operations		$ 273,295,431

See accompanying notes which are an integral part of the financial statements.

Annual Report

Statement of Changes in Net Assets

	Year ended March 31, 2010	Year ended March 31, 2009
Increase (Decrease) in Net Assets
Operations
Net investment income (loss)	$ 10,755,699	$ 9,984,797
Net realized gain (loss)	(5,148,261)	(40,983,238)
Change in net unrealized appreciation (depreciation)	267,687,993	(221,191,491)
Net increase (decrease) in net assets resulting from operations	273,295,431	(252,189,932)
Distributions to shareholders from net investment income	(10,794,748)	(9,759,661)
Distributions to shareholders from net realized gain	(6,934,476)	(19,339,084)
Total distributions	(17,729,224)	(29,098,745)
Share transactions - net increase (decrease)	237,182,238	235,607,700
Total increase (decrease) in net assets	492,748,445	(45,680,977)

Net Assets
Beginning of period	475,839,034	521,520,011
End of period (including undistributed net investment income of $873,654 and undistributed net investment income of $912,704, respectively)	$ 968,587,479	$ 475,839,034

Financial Highlights - Class A

Years ended March 31,	2010	2009	2008	2007	2006
Selected Per-Share Data
Net asset value, beginning of period	$ 7.18	$ 12.53	$ 13.44	$ 12.67	$ 11.06
Income from Investment Operations
Net investment income (loss) ^C	.14	.20	.20	.19	.14
Net realized and unrealized gain (loss)	3.55	(4.92)	(.60)	1.02	1.62
Total from investment operations	3.69	(4.72)	(.40)	1.21	1.76
Distributions from net investment income	(.14)	(.18)	(.17)	(.15)	(.11)
Distributions from net realized gain	(.08)	(.45)	(.34)	(.29)	(.04)
Total distributions	(.22)	(.63) ^G	(.51)	(.44) ^F	(.15)
Net asset value, end of period	$ 10.65	$ 7.18	$ 12.53	$ 13.44	$ 12.67
Total Return^A,B	51.59%	(39.29)%	(3.34)%	9.74%	16.03%
Ratios to Average Net Assets^D,E
Expenses before reductions	.25%	.25%	.25%	.25%	.26%
Expenses net of fee waivers, if any	.25%	.25%	.25%	.25%	.25%
Expenses net of all reductions	.25%	.25%	.25%	.25%	.25%
Net investment income (loss)	1.51%	2.04%	1.51%	1.48%	1.20%
Supplemental Data
Net assets, end of period (000 omitted)	$ 669,450	$ 314,996	$ 336,805	$ 146,175	$ 49,877
Portfolio turnover rate	16%	21%	9%	5%	4%

^A Total returns would have been lower had certain expenses not been reduced during the periods shown.

^B Total returns do not include the effect of the sales charges.

^C Calculated based on average shares outstanding during the period.

^D Amounts do not include the activity of the underlying funds.

^F Total distributions of $.44 per share is comprised of distributions from net investment income of $.153 and distributions from net realized gain of $.287 per share.

^G Total distributions of $.63 per share is comprised of distributions from net investment income of $.182 and distributions from net realized gain of $.445 per share.

See accompanying notes which are an integral part of the financial statements.

Annual Report

Financial Highlights - Class T

Years ended March 31,	2010	2009	2008	2007	2006
Selected Per-Share Data
Net asset value, beginning of period	$ 7.15	$ 12.47	$ 13.38	$ 12.62	$ 11.02
Income from Investment Operations
Net investment income (loss) ^C	.12	.17	.17	.16	.11
Net realized and unrealized gain (loss)	3.53	(4.89)	(.62)	1.01	1.63
Total from investment operations	3.65	(4.72)	(.45)	1.17	1.74
Distributions from net investment income	(.12)	(.16)	(.13)	(.13)	(.10)
Distributions from net realized gain	(.08)	(.45)	(.33)	(.28)	(.04)
Total distributions	(.20)	(.60) ^G	(.46)	(.41) ^F	(.14)
Net asset value, end of period	$ 10.60	$ 7.15	$ 12.47	$ 13.38	$ 12.62
Total Return^A,B	51.17%	(39.42)%	(3.66)%	9.46%	15.84%
Ratios to Average Net Assets^D,E
Expenses before reductions	.50%	.50%	.50%	.50%	.51%
Expenses net of fee waivers, if any	.50%	.50%	.50%	.50%	.50%
Expenses net of all reductions	.50%	.50%	.50%	.50%	.50%
Net investment income (loss)	1.26%	1.79%	1.26%	1.23%	.95%
Supplemental Data
Net assets, end of period (000 omitted)	$ 143,106	$ 81,463	$ 99,531	$ 84,368	$ 45,421
Portfolio turnover rate	16%	21%	9%	5%	4%

^A Total returns would have been lower had certain expenses not been reduced during the periods shown.

^B Total returns do not include the effect of the sales charges.

^C Calculated based on average shares outstanding during the period.

^D Amounts do not include the activity of the underlying funds.

^F Total distributions of $.41 per share is comprised of distributions from net investment income of $.131 and distributions from net realized gain of $.280 per share.

^G Total distributions of $.60 per share is comprised of distributions from net investment income of $.156 and distributions from net realized gain of $.445 per share.

Financial Highlights - Class B

Years ended March 31,	2010	2009	2008	2007	2006
Selected Per-Share Data
Net asset value, beginning of period	$ 7.10	$ 12.38	$ 13.29	$ 12.54	$ 10.98
Income from Investment Operations
Net investment income (loss) ^C	.07	.13	.10	.09	.05
Net realized and unrealized gain (loss)	3.50	(4.86)	(.61)	1.02	1.61
Total from investment operations	3.57	(4.73)	(.51)	1.11	1.66
Distributions from net investment income	(.07)	(.10)	(.08)	(.09)	(.06)
Distributions from net realized gain	(.08)	(.45)	(.32)	(.27)	(.04)
Total distributions	(.15)	(.55) ^G	(.40)	(.36) ^F	(.10)
Net asset value, end of period	$ 10.52	$ 7.10	$ 12.38	$ 13.29	$ 12.54
Total Return^A,B	50.43%	(39.76)%	(4.10) %	8.98%	15.17%
Ratios to Average Net Assets^D,E
Expenses before reductions	1.00%	1.00%	1.00%	1.00%	1.01%
Expenses net of fee waivers, if any	1.00%	1.00%	1.00%	1.00%	1.00%
Expenses net of all reductions	1.00%	1.00%	1.00%	1.00%	1.00%
Net investment income (loss)	.76%	1.30%	.76%	.73%	.45%
Supplemental Data
Net assets, end of period (000 omitted)	$ 27,408	$ 17,892	$ 27,854	$ 23,065	$ 15,351
Portfolio turnover rate	16%	21%	9%	5%	4%

^A Total returns would have been lower had certain expenses not been reduced during the periods shown.

^B Total returns do not include the effect of the contingent deferred sales charge.

^C Calculated based on average shares outstanding during the period.

^D Amounts do not include the activity of the underlying funds.

^F Total distributions of $.36 per share is comprised of distributions from net investment income of $.086 and distributions from net realized gain of $.270 per share.

^G Total distributions of $.55 per share is comprised of distributions from net investment income of $.103 and distributions from net realized gain of $.445 per share.

See accompanying notes which are an integral part of the financial statements.

Annual Report

Financial Highlights - Class C

Years ended March 31,	2010	2009	2008	2007	2006
Selected Per-Share Data
Net asset value, beginning of period	$ 7.11	$ 12.39	$ 13.30	$ 12.55	$ 10.99
Income from Investment Operations
Net investment income (loss) ^C	.07	.12	.10	.09	.05
Net realized and unrealized gain (loss)	3.50	(4.85)	(.61)	1.02	1.61
Total from investment operations	3.57	(4.73)	(.51)	1.11	1.66
Distributions from net investment income	(.08)	(.11)	(.08)	(.09)	(.06)
Distributions from net realized gain	(.08)	(.45)	(.32)	(.27)	(.04)
Total distributions	(.16)	(.55) ^G	(.40)	(.36) ^F	(.10)
Net asset value, end of period	$ 10.52	$ 7.11	$ 12.39	$ 13.30	$ 12.55
Total Return^A,B	50.28%	(39.70)%	(4.10)%	8.99%	15.15%
Ratios to Average Net Assets^D,E
Expenses before reductions	1.00%	1.00%	1.00%	1.00%	1.01%
Expenses net of fee waivers, if any	1.00%	1.00%	1.00%	1.00%	1.00%
Expenses net of all reductions	1.00%	1.00%	1.00%	1.00%	1.00%
Net investment income (loss)	.76%	1.29%	.76%	.73%	.45%
Supplemental Data
Net assets, end of period (000 omitted)	$ 30,994	$ 17,821	$ 23,168	$ 19,041	$ 12,023
Portfolio turnover rate	16%	21%	9%	5%	4%

^A Total returns would have been lower had certain expenses not been reduced during the periods shown.

^B Total returns do not include the effect of the contingent deferred sales charge.

^C Calculated based on average shares outstanding during the period.

^D Amounts do not include the activity of the underlying funds.

^F Total distributions of $.36 per share is comprised of distributions from net investment income of $.088 and distributions from net realized gain of $.270 per share.

^G Total distributions of $.55 per share is comprised of distributions from net investment income of $.107 and distributions from net realized gain of $.445 per share.

Financial Highlights - Institutional Class

Years ended March 31,	2010	2009	2008	2007	2006
Selected Per-Share Data
Net asset value, beginning of period	$ 7.21	$ 12.57	$ 13.49	$ 12.71	$ 11.07
Income from Investment Operations
Net investment income (loss) ^B	.17	.22	.24	.22	.17
Net realized and unrealized gain (loss)	3.55	(4.93)	(.62)	1.02	1.64
Total from investment operations	3.72	(4.71)	(.38)	1.24	1.81
Distributions from net investment income	(.16)	(.21)	(.20)	(.18)	(.13)
Distributions from net realized gain	(.08)	(.45)	(.34)	(.29)	(.04)
Total distributions	(.24)	(.65) ^G	(.54)	(.46) ^F	(.17)
Net asset value, end of period	$ 10.69	$ 7.21	$ 12.57	$ 13.49	$ 12.71
Total Return^A	51.81%	(39.08)%	(3.19)%	9.98%	16.45%
Ratios to Average Net Assets^C,E
Expenses before reductions	.00% ^D	.00% ^D	.00% ^D	.00% ^D	.01%
Expenses net of fee waivers, if any	.00%	.00%	.00%	.00%	.00%
Expenses net of all reductions	.00%	.00%	.00%	.00%	.00%
Net investment income (loss)	1.76%	2.29%	1.76%	1.72%	1.45%
Supplemental Data
Net assets, end of period (000 omitted)	$ 97,629	$ 43,667	$ 34,162	$ 6,371	$ 2,207
Portfolio turnover rate	16%	21%	9%	5%	4%

^A Total returns would have been lower had certain expenses not been reduced during the periods shown.

^B Calculated based on average shares outstanding during the period.

^C Amounts do not include the activity of the underlying funds.

^D Amount represents less than .01%.

^F Total distributions of $.46 per share is comprised of distributions from net investment income of $.176 and distributions from net realized gain of $.287 per share.

^G Total distributions of $.65 per share is comprised of distributions from net investment income of $.206 and distributions from net realized gain of $.445 per share.

See accompanying notes which are an integral part of the financial statements.

Annual Report

Fidelity Advisor Freedom 2040 Fund

Investment Changes (Unaudited)

Fund Holdings as of March 31, 2010
	% of fund's net assets	% of fund's net assets 6 months ago
Commodity Funds
Fidelity Series Commodity Strategy Fund	3.6	0.0
Domestic Equity Funds
Fidelity Advisor Equity Growth Fund Institutional Class	6.3	6.9
Fidelity Advisor Equity Income Fund Institutional Class	5.1	9.5
Fidelity Advisor Growth & Income Fund Institutional Class	9.4	10.7
Fidelity Advisor Large Cap Fund Institutional Class	9.0	9.9
Fidelity Advisor Small Cap Fund Institutional Class	2.9	3.0
Fidelity Series 100 Index Fund	5.9	5.1
Fidelity Series All-Sector Equity Fund	12.2	13.1
Fidelity Series Large Cap Value Fund	7.5	5.4
Fidelity Series Small Cap Opportunities Fund	3.1	3.4
	61.4	67.0
Developed International Equity Funds
Fidelity Advisor Diversified International Fund Institutional Class	6.7	7.5
Fidelity Advisor Overseas Fund Institutional Class	6.7	7.5
Fidelity Series International Growth Fund	1.6	0.0
Fidelity Series International Small Cap Fund	0.3	0.0
Fidelity Series International Value Fund	1.6	0.0
	16.9	15.0
Emerging Markets Equity Funds
Fidelity Series Emerging Markets Fund	2.2	1.6
High Yield Bond Funds
Fidelity Advisor High Income Advantage Fund Institutional Class	8.8	9.9
Investment Grade Bond Funds
Fidelity Advisor Strategic Real Return Fund Institutional Class	1.3	1.1
Fidelity Advisor Total Bond Fund Institutional Class	0.5	1.4
Fidelity Series Investment Grade Bond Fund	5.3	4.0
	7.1	6.5
	100.0	100.0

Asset Allocation (% of fund's net assets)
Current
	Commodity Funds	3.6%
	Domestic Equity Funds	61.4%
	Developed International Equity Funds	16.9%
	Emerging Markets Equity Funds	2.2%
	High Yield Bond Funds	8.8%
	Investment Grade Bond Funds	7.1%

fid351

Six months ago
	Domestic Equity Funds	67.0%
	Developed International Equity Funds	15.0%
	Emerging Markets Equity Funds	1.6%
	High Yield Bond Funds	9.9%
	Investment Grade Bond Funds	6.5%

fid358

Expected
	Commodity Funds	7.9%
	Domestic Equity Funds	54.1%
	Developed International Equity Funds	18.5%
	Emerging Markets Equity Funds	3.0%
	High Yield Bond Funds	8.5%
	Investment Grade Bond Funds	8.0%

fid366

Annual Report

Fidelity Advisor Freedom 2040 Fund

Investments March 31, 2010

Showing Percentage of Net Assets

Domestic Equity Funds - 65.0%
	Shares		Value
Commodity Funds - 3.6%
Fidelity Series Commodity Strategy Fund	4,037,091		$ 42,308,711
Domestic Equity Funds - 61.4%
Fidelity Advisor Equity Growth Fund Institutional Class (a)	1,511,643		74,886,798
Fidelity Advisor Equity Income Fund Institutional Class	2,735,757		61,034,739
Fidelity Advisor Growth & Income Fund Institutional Class	7,054,813		112,242,074
Fidelity Advisor Large Cap Fund Institutional Class	6,241,103		107,596,608
Fidelity Advisor Small Cap Fund Institutional Class (a)	1,445,793		34,395,427
Fidelity Series 100 Index Fund	8,453,723		70,081,366
Fidelity Series All-Sector Equity Fund	12,185,283		146,467,096
Fidelity Series Large Cap Value Fund	7,574,559		89,910,015
Fidelity Series Small Cap Opportunities Fund (a)	4,163,201		37,135,755
TOTAL DOMESTIC EQUITY FUNDS			733,749,878
TOTAL DOMESTIC EQUITY FUNDS (Cost $783,746,027)		776,058,589
International Equity Funds - 19.1%

Developed International Equity Funds - 16.9%
Fidelity Advisor Diversified International Fund Institutional Class	5,291,515		80,113,542
Fidelity Advisor Overseas Fund Institutional Class	4,799,377		80,533,551
Fidelity Series International Growth Fund	1,885,160		18,738,493
Fidelity Series International Small Cap Fund	378,863		3,875,769
Fidelity Series International Value Fund	1,922,958		18,575,778
TOTAL DEVELOPED INTERNATIONAL EQUITY FUNDS			201,837,133

	Shares		Value
Emerging Markets Equity Funds - 2.2%
Fidelity Series Emerging Markets Fund	1,601,192		$ 26,835,973
TOTAL INTERNATIONAL EQUITY FUNDS (Cost $257,010,582)		228,673,106
Bond Funds - 15.9%

High Yield Bond Funds - 8.8%
Fidelity Advisor High Income Advantage Fund Institutional Class	11,732,780		105,360,367
Investment Grade Bond Funds - 7.1%
Fidelity Advisor Strategic Real Return Fund Institutional Class	1,749,701		15,134,914
Fidelity Advisor Total Bond Fund Institutional Class	580,548		6,171,223
Fidelity Series Investment Grade Bond Fund	5,573,349		63,759,111
TOTAL INVESTMENT GRADE BOND FUNDS			85,065,248
TOTAL BOND FUNDS (Cost $192,927,197)		190,425,615
TOTAL INVESTMENT PORTFOLIO - 100.0% (Cost $1,233,683,806)			1,195,157,310
NET OTHER ASSETS - 0.0%			(343,773)
NET ASSETS - 100%		$ 1,194,813,537

Legend

(a) Non-income producing

Other Information

All investments are categorized as Level 1 under the Fair Value Hierarchy. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, refer to the Security Valuation section in the accompanying Notes to Financial Statements.

Income Tax Information

At March 31, 2010, the fund had a capital loss carryforward of approximately $36,100,262 all of which will expire on March 31, 2017.

See accompanying notes which are an integral part of the financial statements.

Annual Report

Fidelity Advisor Freedom 2040 Fund

Financial Statements

Statement of Assets and Liabilities

	March 31, 2010
Assets
Investment in securities, at value (cost $1,233,683,806) - See accompanying schedule		$ 1,195,157,310
Cash		485
Receivable for investments sold		93,764
Receivable for fund shares sold		2,149,327
Total assets		1,197,400,886

Liabilities
Payable for investments purchased	$ 336,322
Payable for fund shares redeemed	1,907,255
Distribution fees payable	343,772
Total liabilities		2,587,349

Net Assets		$ 1,194,813,537
Net Assets consist of:
Paid in capital		$ 1,268,807,650
Undistributed net investment income		926,726
Accumulated undistributed net realized gain (loss) on investments		(36,394,343)
Net unrealized appreciation (depreciation) on investments		(38,526,496)
Net Assets		$ 1,194,813,537

Calculation of Maximum Offering Price Class A: Net Asset Value and redemption price per share ($670,672,892 ÷ 58,961,400 shares)		$ 11.37

Maximum offering price per share (100/94.25 of $11.37)		$ 12.06
Class T: Net Asset Value and redemption price per share ($300,593,735 ÷ 26,503,181 shares)		$ 11.34

Maximum offering price per share (100/96.50 of $11.34)		$ 11.75
Class B: Net Asset Value and offering price per share ($43,772,909 ÷ 3,888,187 shares)^A		$ 11.26

Class C: Net Asset Value and offering price per share ($53,334,309 ÷ 4,742,687 shares)^A		$ 11.25

Institutional Class: Net Asset Value, offering price and redemption price per share ($126,439,692 ÷ 11,072,495 shares)		$ 11.42

^A Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge.

Statement of Operations

	Year ended March 31, 2010
Investment Income
Income distributions from underlying funds		$ 17,084,060

Expenses
Distribution fees	$ 3,459,380
Independent trustees' compensation	3,130
Total expenses before reductions	3,462,510
Expense reductions	(3,130)	3,459,380
Net investment income (loss)		13,624,680
Realized and Unrealized Gain (Loss) Realized gain (loss) on sale of underlying fund shares	21,808,406
Capital gain distributions from underlying funds	14,874,095	36,682,501
Change in net unrealized appreciation (depreciation) on underlying funds		319,580,977
Net gain (loss)		356,263,478
Net increase (decrease) in net assets resulting from operations		$ 369,888,158

See accompanying notes which are an integral part of the financial statements.

Annual Report

Statement of Changes in Net Assets

	Year ended March 31, 2010	Year ended March 31, 2009
Increase (Decrease) in Net Assets
Operations
Net investment income (loss)	$ 13,624,680	$ 13,972,825
Net realized gain (loss)	36,682,501	(61,624,191)
Change in net unrealized appreciation (depreciation)	319,580,977	(325,789,369)
Net increase (decrease) in net assets resulting from operations	369,888,158	(373,440,735)
Distributions to shareholders from net investment income	(13,844,304)	(13,667,108)
Distributions to shareholders from net realized gain	(8,692,491)	(34,379,125)
Total distributions	(22,536,795)	(48,046,233)
Share transactions - net increase (decrease)	202,733,553	247,327,890
Total increase (decrease) in net assets	550,084,916	(174,159,078)

Net Assets
Beginning of period	644,728,621	818,887,699
End of period (including undistributed net investment income of $926,726 and undistributed net investment income of $1,146,349, respectively)	$ 1,194,813,537	$ 644,728,621

Financial Highlights - Class A

Years ended March 31,	2010	2009	2008	2007	2006
Selected Per-Share Data
Net asset value, beginning of period	$ 7.59	$ 13.57	$ 14.69	$ 13.83	$ 12.03
Income from Investment Operations
Net investment income (loss)^C	.15	.21	.22	.21	.15
Net realized and unrealized gain (loss)	3.87	(5.44)	(.74)	1.16	1.84
Total from investment operations	4.02	(5.23)	(.52)	1.37	1.99
Distributions from net investment income	(.15)	(.20)	(.20)	(.18)	(.12)
Distributions from net realized gain	(.09)	(.56)	(.40)	(.33)	(.07)
Total distributions	(.24)	(.75)^G	(.60)	(.51)^F	(.19)
Net asset value, end of period	$ 11.37	$ 7.59	$ 13.57	$ 14.69	$ 13.83
Total Return^A,B	53.15%	(40.42)%	(3.92)%	10.09%	16.65%
Ratios to Average Net Assets^D,E
Expenses before reductions	.25%	.25%	.25%	.25%	.26%
Expenses net of fee waivers, if any	.25%	.25%	.25%	.25%	.26%
Expenses net of all reductions	.25%	.25%	.25%	.25%	.26%
Net investment income (loss)	1.52%	2.02%	1.47%	1.48%	1.18%
Supplemental Data
Net assets, end of period (000 omitted)	$ 670,673	$ 342,357	$ 428,381	$ 263,733	$ 133,817
Portfolio turnover rate	18%	18%	9%	7%	4%

^A Total returns would have been lower had certain expenses not been reduced during the periods shown.

^B Total returns do not include the effect of the sales charges.

^C Calculated based on average shares outstanding during the period.

^D Amounts do not include the activity of the underlying funds.

^F Total distributions of $.51 per share is comprised of distributions from net investment income of $.181 and distributions from net realized gain of $.325 per share.

^G Total distributions of $.75 per share is comprised of distributions from net investment income of $.197 and distributions from net realized gain of $.555 per share.

See accompanying notes which are an integral part of the financial statements.

Annual Report

Financial Highlights - Class T

Years ended March 31,	2010	2009	2008	2007	2006
Selected Per-Share Data
Net asset value, beginning of period	$ 7.57	$ 13.54	$ 14.64	$ 13.79	$ 12.00
Income from Investment Operations
Net investment income (loss) ^C	.13	.18	.18	.17	.12
Net realized and unrealized gain (loss)	3.86	(5.43)	(.72)	1.16	1.83
Total from investment operations	3.99	(5.25)	(.54)	1.33	1.95
Distributions from net investment income	(.13)	(.17)	(.16)	(.15)	(.10)
Distributions from net realized gain	(.09)	(.56)	(.40)	(.33)	(.06)
Total distributions	(.22)	(.72)^G	(.56)	(.48)^F	(.16)
Net asset value, end of period	$ 11.34	$ 7.57	$ 13.54	$ 14.64	$ 13.79
Total Return^A,B	52.83%	(40.61)%	(4.05)%	9.81%	16.35%
Ratios to Average Net Assets^D,E
Expenses before reductions	.50%	.50%	.50%	.50%	.51%
Expenses net of fee waivers, if any	.50%	.50%	.50%	.50%	.51%
Expenses net of all reductions	.50%	.50%	.50%	.50%	.51%
Net investment income (loss)	1.27%	1.77%	1.22%	1.23%	.93%
Supplemental Data
Net assets, end of period (000 omitted)	$ 300,594	$ 181,917	$ 238,675	$ 221,815	$ 136,679
Portfolio turnover rate	18%	18%	9%	7%	4%

^A Total returns would have been lower had certain expenses not been reduced during the periods shown.

^B Total returns do not include the effect of the sales charges.

^C Calculated based on average shares outstanding during the period.

^D Amounts do not include the activity of the underlying funds.

^F Total distributions of $.48 per share is comprised of distributions from net investment income of $.150 and distributions from net realized gain of $.325 per share.

^G Total distributions of $.72 per share is comprised of distributions from net investment income of $.168 and distributions from net realized gain of $.555 per share.

Financial Highlights - Class B

Years ended March 31,	2010	2009	2008	2007	2006
Selected Per-Share Data
Net asset value, beginning of period	$ 7.52	$ 13.42	$ 14.53	$ 13.70	$ 11.94
Income from Investment Operations
Net investment income (loss) ^C	.08	.13	.11	.10	.05
Net realized and unrealized gain (loss)	3.83	(5.37)	(.73)	1.14	1.83
Total from investment operations	3.91	(5.24)	(.62)	1.24	1.88
Distributions from net investment income	(.08)	(.11)	(.10)	(.10)	(.06)
Distributions from net realized gain	(.09)	(.55)	(.39)	(.32)	(.06)
Total distributions	(.17)	(.66)^G	(.49)	(.41)^F	(.12)
Net asset value, end of period	$ 11.26	$ 7.52	$ 13.42	$ 14.53	$ 13.70
Total Return^A,B	52.08%	(40.85)%	(4.59)%	9.25%	15.81%
Ratios to Average Net Assets^D,E
Expenses before reductions	1.00%	1.00%	1.00%	1.00%	1.01%
Expenses net of fee waivers, if any	1.00%	1.00%	1.00%	1.00%	1.01%
Expenses net of all reductions	1.00%	1.00%	1.00%	1.00%	1.01%
Net investment income (loss)	.77%	1.28%	.72%	.73%	.43%
Supplemental Data
Net assets, end of period (000 omitted)	$ 43,773	$ 29,479	$ 50,827	$ 46,110	$ 32,658
Portfolio turnover rate	18%	18%	9%	7%	4%

^A Total returns would have been lower had certain expenses not been reduced during the periods shown.

^B Total returns do not include the effect of the contingent deferred sales charge.

^C Calculated based on average shares outstanding during the period.

^D Amounts do not include the activity of the underlying funds.

^F Total distributions of $.41 per share is comprised of distributions from net investment income of $.098 and distributions from net realized gain of $.315 per share.

^G Total distributions of $.66 per share is comprised of distributions from net investment income of $.112 and distributions from net realized gain of $.550 per share.

See accompanying notes which are an integral part of the financial statements.

Annual Report

Financial Highlights - Class C

Years ended March 31,	2010	2009	2008	2007	2006
Selected Per-Share Data
Net asset value, beginning of period	$ 7.51	$ 13.42	$ 14.52	$ 13.70	$ 11.94
Income from Investment Operations
Net investment income (loss) ^C	.08	.13	.11	.10	.05
Net realized and unrealized gain (loss)	3.83	(5.37)	(.72)	1.13	1.83
Total from investment operations	3.91	(5.24)	(.61)	1.23	1.88
Distributions from net investment income	(.08)	(.12)	(.10)	(.10)	(.06)
Distributions from net realized gain	(.09)	(.55)	(.39)	(.32)	(.06)
Total distributions	(.17)	(.67)^G	(.49)	(.41)^F	(.12)
Net asset value, end of period	$ 11.25	$ 7.51	$ 13.42	$ 14.52	$ 13.70
Total Return^A,B	52.18%	(40.91)%	(4.54)%	9.17%	15.82%
Ratios to Average Net Assets^D,E
Expenses before reductions	1.00%	1.00%	1.00%	1.00%	1.01%
Expenses net of fee waivers, if any	1.00%	1.00%	1.00%	1.00%	1.01%
Expenses net of all reductions	1.00%	1.00%	1.00%	1.00%	1.01%
Net investment income (loss)	.77%	1.28%	.72%	.73%	.43%
Supplemental Data
Net assets, end of period (000 omitted)	$ 53,334	$ 34,036	$ 54,549	$ 54,022	$ 38,947
Portfolio turnover rate	18%	18%	9%	7%	4%

^A Total returns would have been lower had certain expenses not been reduced during the periods shown.

^B Total returns do not include the effect of the contingent deferred sales charge.

^C Calculated based on average shares outstanding during the period.

^D Amounts do not include the activity of the underlying funds.

^F Total distributions of $.41 per share is comprised of distributions from net investment income of $.098 and distributions from net realized gain of $.315 per share.

^G Total distributions of $.67 per share is comprised of distributions from net investment income of $.115 and distributions from net realized gain of $.550 per share.

Financial Highlights - Institutional Class

Years ended March 31,	2010	2009	2008	2007	2006
Selected Per-Share Data
Net asset value, beginning of period	$ 7.62	$ 13.62	$ 14.74	$ 13.87	$ 12.05
Income from Investment Operations
Net investment income (loss) ^B	.18	.23	.25	.24	.18
Net realized and unrealized gain (loss)	3.88	(5.45)	(.74)	1.17	1.85
Total from investment operations	4.06	(5.22)	(.49)	1.41	2.03
Distributions from net investment income	(.17)	(.22)	(.23)	(.21)	(.14)
Distributions from net realized gain	(.09)	(.56)	(.40)	(.33)	(.07)
Total distributions	(.26)	(.78)^G	(.63)	(.54)^F	(.21)
Net asset value, end of period	$ 11.42	$ 7.62	$ 13.62	$ 14.74	$ 13.87
Total Return^A	53.53%	(40.24)%	(3.70)%	10.36%	16.99%
Ratios to Average Net Assets^C,E
Expenses before reductions	.00% ^D	.00% ^D	.00% ^D	.00% ^D	.01%
Expenses net of fee waivers, if any	.00%	.00%	.00%	.00%	.00%
Expenses net of all reductions	.00%	.00%	.00%	.00%	.00%
Net investment income (loss)	1.77%	2.27%	1.72%	1.73%	1.43%
Supplemental Data
Net assets, end of period (000 omitted)	$ 126,440	$ 56,940	$ 46,457	$ 19,197	$ 7,227
Portfolio turnover rate	18%	18%	9%	7%	4%

^A Total returns would have been lower had certain expenses not been reduced during the periods shown.

^B Calculated based on average shares outstanding during the period.

^C Amounts do not include the activity of the underlying funds.

^D Amount represents less than .01%.

^F Total distributions of $.54 per share is comprised of distributions from net investment income of $.210 and distributions from net realized gain of $.325 per share.

^G Total distributions of $.78 per share is comprised of distributions from net investment income of $.224 and distributions from net realized gain of $.555 per share.

See accompanying notes which are an integral part of the financial statements.

Annual Report

Fidelity Advisor Freedom 2045 Fund

Investment Changes (Unaudited)

Fund Holdings as of March 31, 2010
	% of fund's net assets	% of fund's net assets 6 months ago
Commodity Funds
Fidelity Series Commodity Strategy Fund	3.7	0.0
Domestic Equity Funds
Fidelity Advisor Equity Growth Fund Institutional Class	6.3	6.9
Fidelity Advisor Equity Income Fund Institutional Class	5.1	9.0
Fidelity Advisor Growth & Income Fund Institutional Class	9.5	10.7
Fidelity Advisor Large Cap Fund Institutional Class	9.1	9.6
Fidelity Advisor Small Cap Fund Institutional Class	2.9	3.2
Fidelity Series 100 Index Fund	6.0	5.5
Fidelity Series All-Sector Equity Fund	12.4	13.6
Fidelity Series Large Cap Value Fund	7.7	6.0
Fidelity Series Small Cap Opportunities Fund	3.1	3.5
	62.1	68.0
Developed International Equity Funds
Fidelity Advisor Diversified International Fund Institutional Class	6.8	7.4
Fidelity Advisor Overseas Fund Institutional Class	6.8	7.2
Fidelity Series International Growth Fund	1.6	0.0
Fidelity Series International Small Cap Fund	0.3	0.0
Fidelity Series International Value Fund	1.6	0.0
	17.1	14.6
Emerging Markets Equity Funds
Fidelity Series Emerging Markets Fund	2.3	2.0
High Yield Bond Funds
Fidelity Advisor High Income Advantage Fund Institutional Class	9.9	10.5
Investment Grade Bond Funds
Fidelity Advisor Strategic Real Return Fund Institutional Class	0.8	0.8
Fidelity Advisor Total Bond Fund Institutional Class	0.4	1.1
Fidelity Series Investment Grade Bond Fund	3.7	3.0
	4.9	4.9
	100.0	100.0

Asset Allocation (% of fund's net assets)
Current
	Commodity Funds	3.7%
	Domestic Equity Funds	62.1%
	Developed International Equity Funds	17.1%
	Emerging Markets Equity Funds	2.3%
	High Yield Bond Funds	9.9%
	Investment Grade Bond Funds	4.9%

fid374

Six months ago
	Domestic Equity Funds	68.0%
	Developed International Equity Funds	14.6%
	Emerging Markets Equity Funds	2.0%
	High Yield Bond Funds	10.5%
	Investment Grade Bond Funds	4.9%

fid381

Expected
	Commodity Funds	8.0%
	Domestic Equity Funds	55.1%
	Developed International Equity Funds	18.8%
	Emerging Markets Equity Funds	3.1%
	High Yield Bond Funds	10.0%
	Investment Grade Bond Funds	5.0%

fid390

Annual Report

Fidelity Advisor Freedom 2045 Fund

Investments March 31, 2010

Showing Percentage of Net Assets

Domestic Equity Funds - 65.8%
	Shares		Value
Commodity Funds - 3.7%
Fidelity Series Commodity Strategy Fund	1,023,560		$ 10,726,912
Domestic Equity Funds - 62.1%
Fidelity Advisor Equity Growth Fund Institutional Class (a)	373,331		18,494,795
Fidelity Advisor Equity Income Fund Institutional Class	667,126		14,883,582
Fidelity Advisor Growth & Income Fund Institutional Class	1,739,454		27,674,709
Fidelity Advisor Large Cap Fund Institutional Class	1,540,380		26,556,152
Fidelity Advisor Small Cap Fund Institutional Class (a)	357,611		8,507,562
Fidelity Series 100 Index Fund	2,094,015		17,359,384
Fidelity Series All-Sector Equity Fund	3,010,645		36,187,948
Fidelity Series Large Cap Value Fund	1,885,940		22,386,104
Fidelity Series Small Cap Opportunities Fund (a)	1,028,259		9,172,069
TOTAL DOMESTIC EQUITY FUNDS			181,222,305
TOTAL DOMESTIC EQUITY FUNDS (Cost $177,816,198)		191,949,217
International Equity Funds - 19.4%

Developed International Equity Funds - 17.1%
Fidelity Advisor Diversified International Fund Institutional Class	1,301,279		19,701,360
Fidelity Advisor Overseas Fund Institutional Class	1,180,205		19,803,845
Fidelity Series International Growth Fund	478,034		4,751,656
Fidelity Series International Small Cap Fund	97,600		998,451
Fidelity Series International Value Fund	490,759		4,740,728
TOTAL DEVELOPED INTERNATIONAL EQUITY FUNDS			49,996,040

	Shares		Value
Emerging Markets Equity Funds - 2.3%
Fidelity Series Emerging Markets Fund	398,045		$ 6,671,226
TOTAL INTERNATIONAL EQUITY FUNDS (Cost $57,269,152)		56,667,266
Bond Funds - 14.8%

High Yield Bond Funds - 9.9%
Fidelity Advisor High Income Advantage Fund Institutional Class	3,239,225		29,088,245
Investment Grade Bond Funds - 4.9%
Fidelity Advisor Strategic Real Return Fund Institutional Class	287,764		2,489,154
Fidelity Advisor Total Bond Fund Institutional Class	98,420		1,046,207
Fidelity Series Investment Grade Bond Fund	934,176		10,686,972
TOTAL INVESTMENT GRADE BOND FUNDS			14,222,333
TOTAL BOND FUNDS (Cost $39,744,996)		43,310,578
TOTAL INVESTMENT PORTFOLIO - 100.0% (Cost $274,830,346)			291,927,061
NET OTHER ASSETS - 0.0%			(65,264)
NET ASSETS - 100%		$ 291,861,797

Legend

(a) Non-income producing

Other Information

Income Tax Information

At March 31, 2010, the fund had a capital loss carryforward of approximately $7,479,724 all of which will expire on March 31, 2017.

See accompanying notes which are an integral part of the financial statements.

Annual Report

Fidelity Advisor Freedom 2045 Fund

Financial Statements

Statement of Assets and Liabilities

	March 31, 2010
Assets
Investment in securities, at value (cost $274,830,346) - See accompanying schedule		$ 291,927,061
Cash		54
Receivable for investments sold		130,329
Receivable for fund shares sold		479,582
Other affiliated receivables		3,552
Total assets		292,540,578

Liabilities
Payable for investments purchased	$ 24,227
Payable for fund shares redeemed	585,672
Distribution fees payable	68,882
Total liabilities		678,781

Net Assets		$ 291,861,797
Net Assets consist of:
Paid in capital		$ 285,974,582
Undistributed net investment income		269,780
Accumulated undistributed net realized gain (loss) on investments		(11,479,280)
Net unrealized appreciation (depreciation) on investments		17,096,715
Net Assets		$ 291,861,797

Calculation of Maximum Offering Price Class A: Net Asset Value and redemption price per share ($205,405,305 ÷ 23,290,604 shares)		$ 8.82

Maximum offering price per share (100/94.25 of $8.82)		$ 9.36
Class T: Net Asset Value and redemption price per share ($43,325,813 ÷ 4,928,835 shares)		$ 8.79

Maximum offering price per share (100/96.50 of $8.79)		$ 9.11
Class B: Net Asset Value and offering price per share ($4,089,301 ÷ 466,319 shares)^A		$ 8.77

Class C: Net Asset Value and offering price per share ($6,199,307 ÷ 707,446 shares)^A		$ 8.76

Institutional Class: Net Asset Value, offering price and redemption price per share ($32,842,071 ÷ 3,711,578 shares)		$ 8.85

^A Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge.

Statement of Operations

	Year ended March 31, 2010
Investment Income
Income distributions from underlying funds		$ 3,692,701

Expenses
Distribution fees	$ 601,899
Independent trustees' compensation	651
Total expenses before reductions	602,550
Expense reductions	(651)	601,899
Net investment income (loss)		3,090,802
Realized and Unrealized Gain (Loss) Realized gain (loss) on sale of underlying fund shares	(4,092,719)
Capital gain distributions from underlying funds	3,511,927	(580,792)
Change in net unrealized appreciation (depreciation) on underlying funds		74,319,321
Net gain (loss)		73,738,529
Net increase (decrease) in net assets resulting from operations		$ 76,829,331

See accompanying notes which are an integral part of the financial statements.

Annual Report

Statement of Changes in Net Assets

	Year ended March 31, 2010	Year ended March 31, 2009
Increase (Decrease) in Net Assets
Operations
Net investment income (loss)	$ 3,090,802	$ 2,112,292
Net realized gain (loss)	(580,792)	(8,238,179)
Change in net unrealized appreciation (depreciation)	74,319,321	(47,910,180)
Net increase (decrease) in net assets resulting from operations	76,829,331	(54,036,067)
Distributions to shareholders from net investment income	(3,060,635)	(2,013,822)
Distributions to shareholders from net realized gain	(2,023,492)	(2,435,534)
Total distributions	(5,084,127)	(4,449,356)
Share transactions - net increase (decrease)	102,731,596	90,758,359
Total increase (decrease) in net assets	174,476,800	32,272,936

Net Assets
Beginning of period	117,384,997	85,112,061
End of period (including undistributed net investment income of $269,780 and undistributed net investment income of $239,612, respectively)	$ 291,861,797	$ 117,384,997

Financial Highlights - Class A

Years ended March 31,	2010	2009	2008	2007 ^G
Selected Per-Share Data
Net asset value, beginning of period	$ 5.86	$ 10.39	$ 11.05	$ 10.00
Income from Investment Operations
Net investment income (loss) ^E	.12	.16	.16	.12
Net realized and unrealized gain (loss)	3.02	(4.29)	(.57)	1.06
Total from investment operations	3.14	(4.13)	(.41)	1.18
Distributions from net investment income	(.11)	(.14)	(.11)	(.08)
Distributions from net realized gain	(.07)	(.26)	(.14)	(.05)
Total distributions	(.18)	(.40)	(.25)^I	(.13)
Net asset value, end of period	$ 8.82	$ 5.86	$ 10.39	$ 11.05
Total Return^B,C,D	53.81%	(40.93)%	(3.96)%	11.78%
Ratios to Average Net Assets^F,H
Expenses before reductions	.25%	.25%	.25%	.25% ^A
Expenses net of fee waivers, if any	.25%	.25%	.25%	.25% ^A
Expenses net of all reductions	.25%	.25%	.25%	.25% ^A
Net investment income (loss)	1.53%	2.12%	1.44%	1.31% ^A
Supplemental Data
Net assets, end of period (000 omitted)	$ 205,405	$ 81,985	$ 61,721	$ 12,550
Portfolio turnover rate	14%	18%	22%	16% ^A

^A Annualized

^B Total returns for periods of less than one year are not annualized.

^C Total returns would have been lower had certain expenses not been reduced during the periods shown.

^D Total returns do not include the effect of the sales charges.

^E Calculated based on average shares outstanding during the period.

^F Amounts do not include the activity of the underlying funds.

^G For the period June 1, 2006 (commencement of operations) to March 31, 2007.

^H Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the class during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the class but do not include expenses of the investment companies in which the Fund invests.

^I Total distributions of $.25 per share is comprised of distributions from net investment income of $.110 and distributions from net realized gain of $.138 per share.

See accompanying notes which are an integral part of the financial statements.

Annual Report

Financial Highlights - Class T

Years ended March 31,	2010	2009	2008	2007 ^G
Selected Per-Share Data
Net asset value, beginning of period	$ 5.84	$ 10.36	$ 11.03	$ 10.00
Income from Investment Operations
Net investment income (loss) ^E	.10	.14	.13	.09
Net realized and unrealized gain (loss)	3.02	(4.28)	(.57)	1.06
Total from investment operations	3.12	(4.14)	(.44)	1.15
Distributions from net investment income	(.10)	(.12)	(.09)	(.07)
Distributions from net realized gain	(.07)	(.26)	(.14)	(.05)
Total distributions	(.17)	(.38)	(.23)^I	(.12)
Net asset value, end of period	$ 8.79	$ 5.84	$ 10.36	$ 11.03
Total Return^B,C,D	53.52%	(41.08)%	(4.23)%	11.53%
Ratios to Average Net Assets^F,H
Expenses before reductions	.50%	.50%	.50%	.50% ^A
Expenses net of fee waivers, if any	.50%	.50%	.50%	.50% ^A
Expenses net of all reductions	.50%	.50%	.50%	.50% ^A
Net investment income (loss)	1.28%	1.87%	1.19%	1.06% ^A
Supplemental Data
Net assets, end of period (000 omitted)	$ 43,326	$ 18,065	$ 11,746	$ 3,339
Portfolio turnover rate	14%	18%	22%	16% ^A

^A Annualized

^B Total returns for periods of less than one year are not annualized.

^C Total returns would have been lower had certain expenses not been reduced during the periods shown.

^D Total returns do not include the effect of the sales charges.

^E Calculated based on average shares outstanding during the period.

^F Amounts do not include the activity of the underlying funds.

^G For the period June 1, 2006 (commencement of operations) to March 31, 2007.

^I Total distributions of $.23 per share is comprised of distributions from net investment income of $.090 and distributions from net realized gain of $.137 per share.

Financial Highlights - Class B

Years ended March 31,	2010	2009	2008	2007 ^G
Selected Per-Share Data
Net asset value, beginning of period	$ 5.83	$ 10.33	$ 11.01	$ 10.00
Income from Investment Operations
Net investment income (loss) ^E	.06	.11	.08	.05
Net realized and unrealized gain (loss)	3.01	(4.27)^J	(.57)	1.06
Total from investment operations	3.07	(4.16)^J	(.49)	1.11
Distributions from net investment income	(.06)	(.08)	(.06)	(.05)
Distributions from net realized gain	(.07)	(.26)	(.13)	(.05)
Total distributions	(.13)	(.34)	(.19)^I	(.10)
Net asset value, end of period	$ 8.77	$ 5.83^J	$ 10.33	$ 11.01
Total Return^B,C,D	52.74%	(41.39)%^J	(4.65)%	11.09%
Ratios to Average Net Assets^F,H
Expenses before reductions	1.00%	1.00%	1.00%	1.00% ^A
Expenses net of fee waivers, if any	1.00%	1.00%	1.00%	1.00% ^A
Expenses net of all reductions	1.00%	1.00%	1.00%	1.00% ^A
Net investment income (loss)	.78%	1.37%	.69%	.56% ^A
Supplemental Data
Net assets, end of period (000 omitted)	$ 4,089	$ 2,231	$ 2,476	$ 776
Portfolio turnover rate	14%	18%	22%	16% ^A

^A Annualized

^B Total returns for periods of less than one year are not annualized.

^C Total returns would have been lower had certain expenses not been reduced during the periods shown.

^D Total returns do not include the effect of the contingent deferred sales charge.

^E Calculated based on average shares outstanding during the period.

^F Amounts do not include the activity of the underlying funds.

^G For the period June 1, 2006 (commencement of operations) to March 31, 2007.

^ITotal distributions of $.19 per share is comprised of distributions from net investment income of $.058 and distributions from net realized gain of $.130 per share.

^JCertain amounts for the year ended March 31, 2009 have been restated to correct amounts that were previously reported. This resulted in an increase to the net asset value of $0.01 per share with corresponding increases to net realized and unrealized gain (loss) and total from investment operations per share amounts. The total return increased from (41.49%) to (41.39%).

See accompanying notes which are an integral part of the financial statements.

Annual Report

Financial Highlights - Class C

Years ended March 31,	2010	2009	2008	2007 ^G
Selected Per-Share Data
Net asset value, beginning of period	$ 5.82	$ 10.32	$ 11.01	$ 10.00
Income from Investment Operations
Net investment income (loss) ^E	.06	.11	.08	.05
Net realized and unrealized gain (loss)	3.01	(4.27)^J	(.58)	1.06
Total from investment operations	3.07	(4.16) ^J	(.50)	1.11
Distributions from net investment income	(.06)	(.08)	(.06)	(.05)
Distributions from net realized gain	(.07)	(.26)	(.13)	(.05)
Total distributions	(.13)	(.34)	(.19)^I	(.10)
Net asset value, end of period	$ 8.76	$ 5.82^J	$ 10.32	$ 11.01
Total Return^B,C,D	52.90%	(41.39)% ^J	(4.74)%	11.08%
Ratios to Average Net Assets^F,H
Expenses before reductions	1.00%	1.00%	1.00%	1.00% ^A
Expenses net of fee waivers, if any	1.00%	1.00%	1.00%	1.00% ^A
Expenses net of all reductions	1.00%	1.00%	1.00%	1.00% ^A
Net investment income (loss)	.78%	1.37%	.69%	.56% ^A
Supplemental Data
Net assets, end of period (000 omitted)	$ 6,199	$ 3,027	$ 2,539	$ 770
Portfolio turnover rate	14%	18%	22%	16% ^A

^A Annualized

^B Total returns for periods of less than one year are not annualized.

^C Total returns would have been lower had certain expenses not been reduced during the periods shown.

^D Total returns do not include the effect of the contingent deferred sales charge.

^E Calculated based on average shares outstanding during the period.

^F Amounts do not include the activity of the underlying funds.

^G For the period June 1, 2006 (commencement of operations) to March 31, 2007.

^I Total distributions of $.19 per share is comprised of distributions from net investment income of $.058 and distributions from net realized gain of $.130 per share.

^J Certain amounts for the year ended March 31, 2009 have been restated to correct amounts that were previously reported. This resulted in an decrease to the net asset value of $.03 per share with corresponding decreases to net realized and unrealized gain (loss) and total from investment operations per share amounts. The total return decreased from (41.08%) to (41.39%).

Financial Highlights - Institutional Class

Years ended March 31,	2010	2009	2008	2007 ^G
Selected Per-Share Data
Net asset value, beginning of period	$ 5.87	$ 10.41	$ 11.07	$ 10.00
Income from Investment Operations
Net investment income (loss) ^D	.14	.18	.19	.14
Net realized and unrealized gain (loss)	3.04	(4.30)	(.59)	1.06
Total from investment operations	3.18	(4.12)	(.40)	1.20
Distributions from net investment income	(.13)	(.16)	(.13)	(.08)
Distributions from net realized gain	(.07)	(.26)	(.14)	(.05)
Total distributions	(.20)	(.42)	(.26)^I	(.13)
Net asset value, end of period	$ 8.85	$ 5.87	$ 10.41	$ 11.07
Total Return^B,C	54.35%	(40.81)%	(3.82)%	12.02%
Ratios to Average Net Assets^E,H
Expenses before reductions ^F	.00%	.00%	.00%	.00% ^A
Expenses net of fee waivers, if any	.00%	.00%	.00%	.00% ^A
Expenses net of all reductions	.00%	.00%	.00%	.00% ^A
Net investment income (loss)	1.78%	2.37%	1.68%	1.56% ^A
Supplemental Data
Net assets, end of period (000 omitted)	$ 32,842	$ 12,078	$ 6,631	$ 629
Portfolio turnover rate	14%	18%	22%	16% ^A

^A Annualized

^B Total returns for periods of less than one year are not annualized.

^C Total returns would have been lower had certain expenses not been reduced during the periods shown.

^D Calculated based on average shares outstanding during the period.

^E Amounts do not include the activity of the underlying funds.

^F Amount represents less than .01%.

^G For the period June 1, 2006 (commencement of operations) to March 31, 2007.

^I Total distributions of $.26 per share is comprised of distributions from net investment income of $.126 and distributions from net realized gain of $.138 per share.

See accompanying notes which are an integral part of the financial statements.

Annual Report

Fidelity Advisor Freedom 2050 Fund

Investment Changes (Unaudited)

Fund Holdings as of March 31, 2010
	% of fund's net assets	% of fund's net assets 6 months ago
Commodity Funds
Fidelity Series Commodity Strategy Fund	3.8	0.0
Domestic Equity Funds
Fidelity Advisor Equity Growth Fund Institutional Class	6.5	7.2
Fidelity Advisor Equity Income Fund Institutional Class	5.3	8.4
Fidelity Advisor Growth & Income Fund Institutional Class	9.8	10.9
Fidelity Advisor Large Cap Fund Institutional Class	9.4	10.0
Fidelity Advisor Small Cap Fund Institutional Class	3.0	3.2
Fidelity Series 100 Index Fund	6.2	5.4
Fidelity Series All-Sector Equity Fund	12.8	14.0
Fidelity Series Large Cap Value Fund	7.9	6.3
Fidelity Series Small Cap Opportunities Fund	3.2	3.8
	64.1	69.2
Developed International Equity Funds
Fidelity Advisor Diversified International Fund Institutional Class	7.5	8.7
Fidelity Advisor Overseas Fund Institutional Class	7.6	8.5
Fidelity Series International Growth Fund	1.8	0.0
Fidelity Series International Small Cap Fund	0.4	0.0
Fidelity Series International Value Fund	1.8	0.0
	19.1	17.2
Emerging Markets Equity Funds
Fidelity Series Emerging Markets Fund	2.6	2.2
High Yield Bond Funds
Fidelity Advisor High Income Advantage Fund Institutional Class	9.9	10.9
Investment Grade Bond Funds
Fidelity Advisor Strategic Real Return Fund Institutional Class	0.1	0.1
Fidelity Advisor Total Bond Fund Institutional Class	0.0*	0.1
Fidelity Series Investment Grade Bond Fund	0.4	0.3
	0.5	0.5
	100.0	100.0

* Amount represents less than 0.1%

Asset Allocation (% of fund's net assets)
Current
	Commodity Funds	3.8%
	Domestic Equity Funds	64.1%
	Developed International Equity Funds	19.1%
	Emerging Markets Equity Funds	2.6%
	High Yield Bond Funds	9.9%
	Investment Grade Bond Funds	0.5%

fid398

Six months ago
	Domestic Equity Funds	69.2%
	Developed International Equity Funds	17.2%
	Emerging Markets Equity Funds	2.2%
	High Yield Bond Funds	10.9%
	Investment Grade Bond Funds	0.5%

fid405

Expected
	Commodity Funds	8.4%
	Domestic Equity Funds	57.6%
	Developed International Equity Funds	20.0%
	Emerging Markets Equity Funds	3.3%
	High Yield Bond Funds	10.0%
	Investment Grade Bond Funds	0.7%

fid413

Annual Report

Fidelity Advisor Freedom 2050 Fund

Investments March 31, 2010

Showing Percentage of Net Assets

Domestic Equity Funds - 67.9%
	Shares		Value
Commodity Funds - 3.8%
Fidelity Series Commodity Strategy Fund	880,268		$ 9,225,206
Domestic Equity Funds - 64.1%
Fidelity Advisor Equity Growth Fund Institutional Class (a)	316,658		15,687,213
Fidelity Advisor Equity Income Fund Institutional Class	566,910		12,647,754
Fidelity Advisor Growth & Income Fund Institutional Class	1,476,393		23,489,409
Fidelity Advisor Large Cap Fund Institutional Class	1,304,742		22,493,754
Fidelity Advisor Small Cap Fund Institutional Class (a)	303,131		7,211,485
Fidelity Series 100 Index Fund	1,777,826		14,738,178
Fidelity Series All-Sector Equity Fund	2,551,518		30,669,243
Fidelity Series Large Cap Value Fund	1,596,686		18,952,668
Fidelity Series Small Cap Opportunities Fund (a)	872,347		7,781,332
TOTAL DOMESTIC EQUITY FUNDS			153,671,036
TOTAL DOMESTIC EQUITY FUNDS (Cost $153,484,779)		162,896,242
International Equity Funds - 21.7%

Developed International Equity Funds - 19.1%
Fidelity Advisor Diversified International Fund Institutional Class	1,195,950		18,106,688
Fidelity Advisor Overseas Fund Institutional Class	1,084,490		18,197,739
Fidelity Series International Growth Fund	437,303		4,346,795
Fidelity Series International Small Cap Fund	88,876		909,199
Fidelity Series International Value Fund	448,938		4,336,744
TOTAL DEVELOPED INTERNATIONAL EQUITY FUNDS			45,897,165

	Shares		Value
Emerging Markets Equity Funds - 2.6%
Fidelity Series Emerging Markets Fund	364,549		$ 6,109,847
TOTAL INTERNATIONAL EQUITY FUNDS (Cost $54,026,819)		52,007,012
Bond Funds - 10.4%

High Yield Bond Funds - 9.9%
Fidelity Advisor High Income Advantage Fund Institutional Class	2,658,789		23,875,925
Investment Grade Bond Funds - 0.5%
Fidelity Advisor Strategic Real Return Fund Institutional Class	24,513		212,036
Fidelity Advisor Total Bond Fund Institutional Class	7,433		79,018
Fidelity Series Investment Grade Bond Fund	75,439		863,027
TOTAL INVESTMENT GRADE BOND FUNDS			1,154,081
TOTAL BOND FUNDS (Cost $22,320,321)		25,030,006
TOTAL INVESTMENT PORTFOLIO - 100.0% (Cost $229,831,919)			239,933,260
NET OTHER ASSETS - 0.0%			(60,274)
NET ASSETS - 100%		$ 239,872,986

Legend

(a) Non-income producing

Other Information

Income Tax Information

At March 31, 2010, the fund had a capital loss carryforward of approximately $7,387,590 all of which will expire on March 31, 2017.

See accompanying notes which are an integral part of the financial statements.

Annual Report

Fidelity Advisor Freedom 2050 Fund

Financial Statements

Statement of Assets and Liabilities

	March 31, 2010

Assets
Investment in securities, at value (cost $229,831,919) - See accompanying schedule		$ 239,933,260
Receivable for investments sold		30,627
Receivable for fund shares sold		1,521,907
Total assets		241,485,794

Liabilities
Payable for investments purchased	$ 1,209,692
Payable for fund shares redeemed	342,836
Distribution fees payable	60,280
Total liabilities		1,612,808

Net Assets		$ 239,872,986
Net Assets consist of:
Paid in capital		$ 240,191,001
Undistributed net investment income		151,377
Accumulated undistributed net realized gain (loss) on investments		(10,570,733)
Net unrealized appreciation (depreciation) on investments		10,101,341
Net Assets		$ 239,872,986
Calculation of Maximum Offering Price Class A: Net Asset Value and redemption price per share ($137,716,437 ÷ 15,895,884 shares)		$ 8.66

Maximum offering price per share (100/94.25 of $8.66)		$ 9.19
Class T: Net Asset Value and redemption price per share ($46,449,242 ÷ 5,375,539 shares)		$ 8.64

Maximum offering price per share (100/96.50 of $8.64)		$ 8.95
Class B: Net Asset Value and offering price per share ($5,847,405 ÷ 679,804 shares)^A		$ 8.60

Class C: Net Asset Value and offering price per share ($9,645,586 ÷ 1,119,987 shares)^A		$ 8.61

Institutional Class: Net Asset Value, offering price and redemption price per share ($40,214,316 ÷ 4,624,382 shares)		$ 8.70

^ARedemption price per share is equal to net asset value less any applicable contingent deferred sales charge.

Statement of Operations

	Year ended March 31, 2010

Investment Income
Income distributions from underlying funds		$ 2,944,930

Expenses
Distribution fees	$ 553,961
Independent trustees' compensation	553
Total expenses before reductions	554,514
Expense reductions	(553)	553,961
Net investment income (loss)		2,390,969
Realized and Unrealized Gain (Loss) Realized gain (loss) on sale of underlying fund shares	(2,719,640)
Capital gain distributions from underlying funds	2,953,675	234,035
Change in net unrealized appreciation (depreciation) on underlying funds		64,796,791
Net gain (loss)		65,030,826
Net increase (decrease) in net assets resulting from operations		$ 67,421,795

See accompanying notes which are an integral part of the financial statements.

Annual Report

Fidelity Advisor Freedom 2050 Fund
Financial Statements - continued

Statement of Changes in Net Assets

	Year ended March 31, 2010	Year ended March 31, 2009
Increase (Decrease) in Net Assets
Operations
Net investment income (loss)	$ 2,390,969	$ 1,838,987
Net realized gain (loss)	234,035	(8,423,554)
Change in net unrealized appreciation (depreciation)	64,796,791	(44,545,249)
Net increase (decrease) in net assets resulting from operations	67,421,795	(51,129,816)
Distributions to shareholders from net investment income	(2,382,215)	(1,739,953)
Distributions to shareholders from net realized gain	(1,702,157)	(2,746,301)
Total distributions	(4,084,372)	(4,486,254)
Share transactions - net increase(decrease)	74,234,725	71,843,683
Total increase (decrease) in net assets	137,572,148	16,227,613

Net Assets
Beginning of period	102,300,838	86,073,225
End of period (including undistributed net investment income of $151,377 and undistributed net investment income of $142,623, respectively)	$ 239,872,986	$ 102,300,838

Financial Highlights - Class A

Years ended March 31,	2010	2009	2008	2007 ^G
Selected Per-Share Data
Net asset value, beginning of period	$ 5.67	$ 10.32	$ 11.04	$ 10.00
Income from Investment Operations
Net investment income (loss) ^E	.11	.16	.16	.13
Net realized and unrealized gain (loss)	3.05	(4.39) ^J	(.60)	1.06
Total from investment operations	3.16	(4.23) ^J	(.44)	1.19
Distributions from net investment income	(.10)	(.13)	(.11)	(.09)
Distributions from net realized gain	(.07)	(.30)	(.17)	(.06)
Total distributions	(.17)	(.42) ^I	(.28)	(.15)
Net asset value, end of period	$ 8.66	$ 5.67 ^J	$ 10.32	$ 11.04
Total Return ^{B, C, D}	55.94%	(42.30)% ^J	(4.27)%	11.91%
Ratios to Average Net Assets ^{F, H}
Expenses before reductions	.25%	.25%	.25%	.25% ^A
Expenses net of fee waivers, if any	.25%	.25%	.25%	.25% ^A
Expenses net of all reductions	.25%	.25%	.25%	.25% ^A
Net investment income (loss)	1.43%	2.04%	1.39%	1.45% ^A
Supplemental Data
Net assets, end of period (000 omitted)	$ 137,716	$ 57,591	$ 55,250	$ 12,907
Portfolio turnover rate	15%	16%	25%	4% ^A

^A Annualized

^B Total returns for periods of less than one year are not annualized.

^C Total returns would have been lower had certain expenses not been reduced during the periods shown.

^D Total returns do not include the effect of the sales charges.

^E Calculated based on average shares outstanding during the period.

^F Amounts do not include the activity of the underlying funds.

^G For the period June 1, 2006 (commencement of operations) to March 31, 2007.

^I Total distributions of $.42 per share is comprised of distributions from net investment income of $.127 and distributions from net realized gain of $.295 per share.

^J Certain amounts for the year ended March 31, 2009 have been restated to correct amounts that were previously reported. This resulted in an increase to the net asset value of $0.01 per share with corresponding increases to net realized and unrealized gain (loss) and total from investment operations per share amounts. The total return increased from (42.40%) to (42.30%).

See accompanying notes which are an integral part of the financial statements.

Annual Report

Financial Highlights - Class T

Years ended March 31,	2010	2009	2008	2007 ^G
Selected Per-Share Data
Net asset value, beginning of period	$ 5.66	$ 10.30	$ 11.02	$ 10.00
Income from Investment Operations
Net investment income (loss) ^E	.09	.14	.13	.11
Net realized and unrealized gain (loss)	3.05	(4.37)	(.59)	1.05
Total from investment operations	3.14	(4.23)	(.46)	1.16
Distributions from net investment income	(.09)	(.11)	(.09)	(.08)
Distributions from net realized gain	(.07)	(.30)	(.17)	(.06)
Total distributions	(.16)	(.41) ^I	(.26)	(.14)
Net asset value, end of period	$ 8.64	$ 5.66	$ 10.30	$ 11.02
Total Return ^{B, C, D}	55.57%	(42.41)%	(4.45)%	11.64%
Ratios to Average Net Assets ^{F, H}
Expenses before reductions	.50%	.50%	.50%	.50% ^A
Expenses net of fee waivers, if any	.50%	.50%	.50%	.50% ^A
Expenses net of all reductions	.50%	.50%	.50%	.50% ^A
Net investment income (loss)	1.18%	1.79%	1.14%	1.20% ^A
Supplemental Data
Net assets, end of period (000 omitted)	$ 46,449	$ 21,186	$ 15,147	$ 3,520
Portfolio turnover rate	15%	16%	25%	4% ^A

^A Annualized

^B Total returns for periods of less than one year are not annualized.

^C Total returns would have been lower had certain expenses not been reduced during the periods shown.

^D Total returns do not include the effect of the sales charges.

^E Calculated based on average shares outstanding during the period.

^F Amounts do not include the activity of the underlying funds.

^G For the period June 1, 2006 (commencement of operations) to March 31, 2007.

^I Total distributions of $.41 per share is comprised of distributions from net investment income of $.112 and distributions from net realized gain of $.295 per share.

Financial Highlights - Class B

Years ended March 31,	2010	2009	2008	2007 ^G
Selected Per-Share Data
Net asset value, beginning of period	$ 5.64	$ 10.26	$ 11.00	$ 10.00
Income from Investment Operations
Net investment income (loss) ^E	.05	.10	.07	.06
Net realized and unrealized gain (loss)	3.03	(4.35) ^J	(.59)	1.07
Total from investment operations	3.08	(4.25)^J	(.52)	1.13
Distributions from net investment income	(.05)	(.08)	(.06)	(.07)
Distributions from net realized gain	(.07)	(.29)	(.16)	(.06)
Total distributions	(.12)	(.37) ^I	(.22)	(.13)
Net asset value, end of period	$ 8.60	$ 5.64 ^J	$ 10.26	$ 11.00
Total Return ^{B, C, D}	54.72%	(42.71)% ^J	(4.93)%	11.31%
Ratios to Average Net Assets ^{F, H}
Expenses before reductions	1.00%	1.00%	1.00%	1.00% ^A
Expenses net of fee waivers, if any	1.00%	1.00%	1.00%	1.00% ^A
Expenses net of all reductions	1.00%	1.00%	1.00%	1.00% ^A
Net investment income (loss)	.68%	1.29%	.64%	.70% ^A
Supplemental Data
Net assets, end of period (000 omitted)	$ 5,847	$ 3,078	$ 3,414	$ 1,177
Portfolio turnover rate	15%	16%	25%	4% ^A

^A Annualized

^B Total returns for periods of less than one year are not annualized.

^C Total returns would have been lower had certain expenses not been reduced during the periods shown.

^D Total returns do not include the effect of the contingent deferred sales charge.

^E Calculated based on average shares outstanding during the period.

^F Amounts do not include the activity of the underlying funds.

^G For the period June 1, 2006 (commencement of operations) to March 31, 2007.

^I Total distributions of $.37 per share is comprised of distributions from net investment income of $.078 and distributions from net realized gain of $.290 per share.

^J Certain amounts for the year ended March 31, 2009 have been restated to correct amounts that were previously reported. This resulted in an increase to the net asset value of $0.01 per share with corresponding increases to net realized and unrealized gain (loss) and total from investment operations per share amounts. The total return increased from (42.81%) to (42.71%).

See accompanying notes which are an integral part of the financial statements.

Annual Report

Financial Highlights - Class C

Years ended March 31,	2010	2009	2008	2007 ^G
Selected Per-Share Data
Net asset value, beginning of period	$ 5.63	$ 10.25	$ 11.00	$ 10.00
Income from Investment Operations
Net investment income (loss) ^E	.05	.10	.07	.06
Net realized and unrealized gain (loss)	3.05	(4.35) ^J	(.59)	1.06
Total from investment operations	3.10	(4.25)^J	(.52)	1.12
Distributions from net investment income	(.05)	(.08)	(.07)	(.06)
Distributions from net realized gain	(.07)	(.29)	(.16)	(.06)
Total distributions	(.12)	(.37) ^I	(.23)	(.12)
Net asset value, end of period	$ 8.61	$ 5.63 ^J	$ 10.25	$ 11.00
Total Return ^{B, C, D}	55.15%	(42.74)% ^J	(4.99)%	11.25%
Ratios to Average Net Assets ^{F, H}
Expenses before reductions	1.00%	1.00%	1.00%	1.00% ^A
Expenses net of fee waivers, if any	1.00%	1.00%	1.00%	1.00% ^A
Expenses net of all reductions	1.00%	1.00%	1.00%	1.00% ^A
Net investment income (loss)	.68%	1.29%	.64%	.70% ^A
Supplemental Data
Net assets, end of period (000 omitted)	$ 9,646	$ 5,436	$ 5,380	$ 1,507
Portfolio turnover rate	15%	16%	25%	4% ^A

^A Annualized

^B Total returns for periods of less than one year are not annualized.

^C Total returns would have been lower had certain expenses not been reduced during the periods shown.

^D Total returns do not include the effect of the contingent deferred sales charge.

^E Calculated based on average shares outstanding during the period.

^F Amounts do not include the activity of the underlying funds.

^G For the period June 1, 2006 (commencement of operations) to March 31, 2007.

^I Total distributions of $.37 per share is comprised of distributions from net investment income of $.080 and distributions from net realized gain of $.290 per share.

^J Certain amounts for the year ended March 31, 2009 have been restated to correct amounts that were previously reported. This resulted in an decrease to the net asset value of $0.06 per share with corresponding decreases to net realized and unrealized gain (loss) and total from investment operations per share amounts. The total return decreased from (42.13%) to (42.74%).

Financial Highlights - Institutional Class

Years ended March 31,	2010	2009	2008	2007 ^G
Selected Per-Share Data
Net asset value, beginning of period	$ 5.68	$ 10.35	$ 11.06	$ 10.00
Income from Investment Operations
Net investment income (loss) ^D	.13	.17	.18	.15
Net realized and unrealized gain (loss)	3.08	(4.40) ^J	(.59)	1.06
Total from investment operations	3.21	(4.23)^J	(.41)	1.21
Distributions from net investment income	(.12)	(.15)	(.13)	(.09)
Distributions from net realized gain	(.07)	(.30)	(.17)	(.06)
Total distributions	(.19)	(.44) ^I	(.30)	(.15)
Net asset value, end of period	$ 8.70	$ 5.68 ^J	$ 10.35	$ 11.06
Total Return ^{B, C}	56.66%	(42.22)% ^J	(4.02)%	12.16%
Ratios to Average Net Assets ^{E, H}
Expenses before reductions ^F	.00%	.00%	.00%	.00% ^A
Expenses net of fee waivers, if any	.00%	.00%	.00%	.00% ^A
Expenses net of all reductions	.00%	.00%	.00%	.00% ^A
Net investment income (loss)	1.68%	2.29%	1.64%	1.70% ^A
Supplemental Data
Net assets, end of period (000 omitted)	$ 40,214	$ 15,010	$ 6,882	$ 982
Portfolio turnover rate	15%	16%	25%	4% ^A

^A Annualized

^B Total returns for periods of less than one year are not annualized.

^C Total returns would have been lower had certain expenses not been reduced during the periods shown.

^D Calculated based on average shares outstanding during the period.

^E Amounts do not include the activity of the underlying funds.

^F Amount represents less than .01%.

^G For the period June 1, 2006 (commencement of operations) to March 31, 2007.

^I Total distributions of $.44 per share is comprised of distributions from net investment income of $.146 and distributions from net realized gain of $.295 per share.

^J Certain amounts for the year ended March 31, 2009 have been restated to correct amounts that were previously reported. This resulted in an decrease to the net asset value of $0.02 per share with corresponding decreases to net realized and unrealized gain (loss) and total from investment operations per share amounts. The total return decreased from (42.01%) to (42.22%).

See accompanying notes which are an integral part of the financial statements.

Annual Report

Notes to Financial Statements

For the period ended March 31, 2010

1. Organization.

Fidelity Advisor Freedom Income Fund, Fidelity Advisor Freedom 2005 Fund, Fidelity Advisor Freedom 2010 Fund, Fidelity Advisor Freedom 2015 Fund, Fidelity Advisor Freedom 2020 Fund, Fidelity Advisor Freedom 2025 Fund, Fidelity Advisor Freedom 2030 Fund, Fidelity Advisor Freedom 2035 Fund, Fidelity Advisor Freedom 2040 Fund, Fidelity Advisor Freedom 2045 Fund and Fidelity Advisor Freedom 2050 Fund (the Funds) are funds of Fidelity Aberdeen Street Trust (the trust). The trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Delaware statutory trust. Each Fund is authorized to issue an unlimited number of shares. The Funds invest primarily in a combination of other Fidelity equity, bond, and short-term funds (the Underlying Funds) managed by Fidelity Management & Research Company (FMR).

Each Fund offers Class A, Class T, Class B, Class C, and Institutional Class shares, each of which has equal rights as to assets and voting privileges. Each class has exclusive voting rights with respect to matters that affect that class. Class B shares will automatically convert to Class A shares after a holding period of seven years from the initial date of purchase. Investment income, realized and unrealized capital gains and losses, the common expenses of the Fund, and certain fund-level expense reductions, if any, are allocated on a pro-rata basis to each class based on the relative net assets of each class to the total net assets of the Fund. Each class differs with respect to distribution and service plan fees incurred. Certain expense reductions also differ by class.

2. Significant Accounting Policies.

The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America, which require management to make certain estimates and assumptions at the date of the financial statements. Actual results could differ from those estimates. The following summarizes the significant accounting policies of the Funds:

Security Valuation. Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Each Fund categorizes the inputs to valuation techniques used to value their investments into a disclosure hierarchy consisting of three levels as shown below.

Level 1 - quoted prices in active markets for identical investments

Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, etc.)

Level 3 - unobservable inputs (including the fund's own assumptions based on the best information available)

Valuation techniques used to value each Fund's investments by major category are as follows. Investments in the Underlying Funds are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy.

Investment Transactions and Income. For financial reporting purposes, the Funds' investment holdings and NAV include trades executed through the end of the last business day of the period. The NAV per share for processing shareholder transactions is calculated as of the close of business of the New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time and includes trades executed through the end of the prior business day. Gains and losses on securities sold are determined on the basis of identified cost. Income and capital gain distributions from the Underlying Funds, if any, are recorded on the ex-dividend date.

Expenses. Most expenses of the trust can be directly attributed to a fund. Expenses which cannot be directly attributed are apportioned among each fund in the trust. Expenses included in the accompanying financial statements reflect the expenses of the Fund and do not include any expenses associated with the Underlying Funds. Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.

Income Tax Information and Distributions to Shareholders. Each year, each Fund intends to qualify as a regulated investment company by distributing substantially all of its taxable income and realized gains under Subchapter M of the Internal Revenue Code and filing its U.S. federal tax return. As a result, no provision for income taxes is required. As of March 31, 2010, each Fund did not have any unrecognized tax benefits in the accompanying financial statements. A Fund's federal tax return is subject to examination by the Internal Revenue Service (IRS) for a period of three years.

Distributions are recorded on the ex-dividend date. Income dividends and capital gain distributions are declared separately for each class. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from generally accepted accounting principles.

Capital accounts within the financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations. Temporary book-tax differences will reverse in a subsequent period.

Book-tax differences are primarily due to the short-term gain distributions from the Underlying Funds, capital loss carryforwards, losses deferred due to wash sales and excise tax regulations.

Annual Report

2. Significant Accounting Policies - continued

Income Tax Information and Distributions to Shareholders - continued

The federal tax cost of investment securities and unrealized appreciation (depreciation) as of period end were as follows for each Fund:

Fund	Tax cost	Gross unrealized appreciation	Gross unrealized depreciation	Net unrealized appreciation (depreciation)
Advisor Freedom Income	$ 229,893,265	$ 8,786,672	$ (5,727,931)	$ 3,058,741
Advisor Freedom 2005	212,046,559	9,450,217	(11,711,267)	(2,261,050)
Advisor Freedom 2010	827,247,999	43,479,197	(43,181,375)	297,822
Advisor Freedom 2015	1,297,588,083	70,141,125	(73,752,943)	(3,611,818)
Advisor Freedom 2020	2,093,741,207	136,867,313	(123,870,724)	12,996,589
Advisor Freedom 2025	1,452,595,697	110,095,766	(100,105,295)	9,990,471
Advisor Freedom 2030	1,698,833,675	129,289,114	(121,299,878)	7,989,236
Advisor Freedom 2035	964,627,880	80,474,746	(76,268,101)	4,206,645
Advisor Freedom 2040	1,238,438,546	66,528,589	(109,809,825)	(43,281,236)
Advisor Freedom 2045	277,414,362	32,378,584	(17,865,885)	14,512,699
Advisor Freedom 2050	231,692,628	26,175,004	(17,934,372)	8,240,632

The tax-based components of distributable earnings as of period end were as follows for each Fund:

	Undistributed ordinary income	Capital loss carryforward	Net unrealized appreciation (depreciation)
Advisor Freedom Income	$ 572,465	$ (2,021,981)	$ 3,058,741
Advisor Freedom 2005	926,903	(5,987,852)	(2,261,050)
Advisor Freedom 2010	3,663,029	(34,281,646)	297,822
Advisor Freedom 2015	5,842,978	(35,532,008)	(3,611,818)
Advisor Freedom 2020	9,933,861	(83,490,631)	12,996,589
Advisor Freedom 2025	6,782,821	(53,781,443)	9,990,471
Advisor Freedom 2030	7,859,154	(75,012,132)	7,989,236
Advisor Freedom 2035	4,419,329	(37,616,185)	4,206,645
Advisor Freedom 2040	5,387,380	(36,100,262)	(43,281,236)
Advisor Freedom 2045	1,330,689	(7,479,724)	14,512,699
Advisor Freedom 2050	1,044,143	(7,387,590)	8,240,632

The tax character of distributions paid was as follows:

March 31, 2010
	Ordinary Income	Long-term Capital Gains	Total
Advisor Freedom Income	$ 5,386,214	$ -	$ 5,386,214
Advisor Freedom 2005	4,599,553	-	4,599,553
Advisor Freedom 2010	21,195,098	-	21,195,098
Advisor Freedom 2015	30,068,389	-	30,068,389
Advisor Freedom 2020	46,813,378	-	46,813,378
Advisor Freedom 2025	30,807,178	-	30,807,178
Advisor Freedom 2030	32,895,819	-	32,895,819
Advisor Freedom 2035	17,729,224	-	17,729,224
Advisor Freedom 2040	22,536,795	-	22,536,795
Advisor Freedom 2045	5,084,127	-	5,084,127
Advisor Freedom 2050	4,084,372	-	4,084,372
March 31, 2009
	Ordinary Income	Long-term Capital Gains	Total
Advisor Freedom Income	$ 5,856,514	$ 1,005,271	$ 6,861,785
Advisor Freedom 2005	4,591,097	2,332,348	6,923,445
Advisor Freedom 2010	22,631,084	15,734,148	38,365,232
Advisor Freedom 2015	27,190,807	21,998,591	49,189,398
Advisor Freedom 2020	39,768,154	48,584,416	88,352,570

Annual Report

Notes to Financial Statements - continued

2. Significant Accounting Policies - continued

Income Tax Information and Distributions to Shareholders - continued

March 31, 2009
	Ordinary Income	Long-term Capital Gains	Total
Advisor Freedom 2025	$ 23,198,269	$ 26,449,952	$ 49,648,221
Advisor Freedom 2030	22,969,281	41,568,001	64,537,282
Advisor Freedom 2035	10,628,393	18,470,352	29,098,745
Advisor Freedom 2040	14,702,047	33,344,186	48,046,233
Advisor Freedom 2045	2,170,604	2,278,752	4,449,356
Advisor Freedom 2050	1,780,026	2,706,228	4,486,254

3. Purchases and Sales of Investments.

Purchases and redemptions of the Underlying Fund shares are noted in the table below.

	Purchases ($)	Redemptions ($)
Advisor Freedom Income	102,325,147	61,395,658
Advisor Freedom 2005	106,915,265	58,434,887
Advisor Freedom 2010	341,964,143	314,718,078
Advisor Freedom 2015	533,200,094	314,821,134
Advisor Freedom 2020	782,254,071	446,516,813
Advisor Freedom 2025	542,574,873	222,849,615
Advisor Freedom 2030	597,161,063	268,926,770
Advisor Freedom 2035	361,803,646	119,567,643
Advisor Freedom 2040	376,509,144	167,658,019
Advisor Freedom 2045	133,266,207	28,977,725
Advisor Freedom 2050	101,117,541	25,588,000

4. Fees and Other Transactions with Affiliates.

Management Fee. Strategic Advisers, Inc. (Strategic Advisers), an affiliate of FMR, provides the Funds with investment management related services. The Funds do not pay any fees for these services.

Other Transactions. Strategic Advisers has entered into an administration agreement with FMR under which FMR provides management and administrative services (other than investment advisory services) necessary for the operation of each Fund. Pursuant to this agreement, FMR pays all expenses of each Fund, excluding the distribution and service fees, the compensation of the independent Trustees and certain other expenses such as interest expense. FMR also contracts with other Fidelity companies to perform the services necessary for the operation of each Fund. The Funds do not pay any fees for these services.

Distribution and Service Plan. In accordance with Rule 12b-1 of the 1940 Act, the Fund has adopted separate Distribution and Service Plans for each class of shares. Certain classes pay Fidelity Distributors Corporation (FDC), an affiliate of FMR, separate Distribution and Service Fees, each of which is based on an annual percentage of each class' average net assets. In addition, FDC may pay financial intermediaries for selling shares of the Fund and providing shareholder support services. For the period, the Distribution and Service Fee rates and the total amounts paid to and retained by FDC were as follows:

Advisor Freedom Income	Distribution Fee	Service Fee	Paid to FDC	Retained by FDC
Class A	0%	.25%	$ 302,442	$ 34,180
Class T	.25%	.25%	245,357	728
Class B	.75%	.25%	48,179	36,168
Class C	.75%	.25%	131,039	23,954
			$ 727,017	$ 95,030

Annual Report

4. Fees and Other Transactions with Affiliates - continued

Distribution and Service Plan - continued

Advisor Freedom 2005	Distribution Fee	Service Fee	Paid to FDC	Retained by FDC
Class A	0%	.25%	$ 309,852	$ 79,090
Class T	.25%	.25%	96,720	1,458
Class B	.75%	.25%	30,183	22,645
Class C	.75%	.25%	83,268	7,693
			$ 520,023	$ 110,886
Advisor Freedom 2010
Class A	0%	.25%	$ 1,081,091	$ 213,976
Class T	.25%	.25%	967,461	1,839
Class B	.75%	.25%	225,084	169,048
Class C	.75%	.25%	450,385	43,746
			$ 2,724,021	$ 428,609
Advisor Freedom 2015
Class A	0%	.25%	$ 1,669,492	$ 304,897
Class T	.25%	.25%	1,028,991	704
Class B	.75%	.25%	334,070	250,703
Class C	.75%	.25%	587,044	66,784
			$ 3,619,597	$ 623,088
Advisor Freedom 2020
Class A	0%	.25%	$ 2,474,661	$ 441,049
Class T	.25%	.25%	2,234,155	2,469
Class B	.75%	.25%	659,073	494,602
Class C	.75%	.25%	826,641	101,033
			$ 6,194,530	$ 1,039,153
Advisor Freedom 2025
Class A	0%	.25%	$ 1,938,804	$ 393,810
Class T	.25%	.25%	979,636	1,640
Class B	.75%	.25%	352,109	264,258
Class C	.75%	.25%	436,838	61,425
			$ 3,707,387	$ 721,133
Advisor Freedom 2030
Class A	0%	.25%	$ 2,000,372	$ 341,826
Class T	.25%	.25%	1,653,646	910
Class B	.75%	.25%	462,700	347,322
Class C	.75%	.25%	557,846	77,610
			$ 4,674,564	$ 767,668
Advisor Freedom 2035
Class A	0%	.25%	$ 1,261,837	$ 251,318
Class T	.25%	.25%	592,347	519
Class B	.75%	.25%	240,137	180,267
Class C	.75%	.25%	253,313	44,216
			$ 2,347,634	$ 476,320
Advisor Freedom 2040
Class A	0%	.25%	$ 1,322,150	$ 170,364
Class T	.25%	.25%	1,289,535	1,673
Class B	.75%	.25%	386,610	290,229
Class C	.75%	.25%	461,085	64,386
			$ 3,459,380	$ 526,652

Annual Report

Notes to Financial Statements - continued

4. Fees and Other Transactions with Affiliates - continued

Distribution and Service Plan - continued

Advisor Freedom 2045	Distribution Fee	Service Fee	Paid to FDC	Retained by FDC
Class A	0%	.25%	$ 363,766	$ 77,891
Class T	.25%	.25%	159,077	233
Class B	.75%	.25%	32,859	24,673
Class C	.75%	.25%	46,197	10,313
			$ 601,899	$ 113,110
Advisor Freedom 2050
Class A	0%	.25%	$ 250,102	$ 29,017
Class T	.25%	.25%	176,847	434
Class B	.75%	.25%	46,715	35,085
Class C	.75%	.25%	80,297	22,201
			$ 553,961	$ 86,737

Sales Load. FDC receives a front-end sales charge of up to 5.75% for selling Class A shares, and 3.50% for selling Class T shares, some of which is paid to financial intermediaries for selling shares of the Fund. FDC receives the proceeds of contingent deferred sales charges levied on Class A, Class T, Class B, and Class C redemptions. These charges depend on the holding period. The deferred sales charges range from 5% to 1% for Class B, 1% for Class C, 1.00% to .50% for certain purchases of Class A shares and .25% for certain purchases of Class T shares.

For the period, sales charge amounts retained by FDC were as follows:

Advisor Freedom Income	Retained by FDC
Class A	$ 14,401
Class T	2,713
Class B*	14,877
Class C*	1,239
	$ 33,230
Advisor Freedom 2005
Class A	$ 7,025
Class T	816
Class B*	6,695
Class C*	479
	$ 15,015
Advisor Freedom 2010
Class A	$ 25,027
Class T	10,055
Class B*	58,598
Class C*	2,557
	$ 96,237
Advisor Freedom 2015
Class A	$ 62,818
Class T	15,477
Class B*	85,561
Class C*	6,149
	$ 170,005
Advisor Freedom 2020
Class A	$ 106,044
Class T	27,519
Class B*	147,032
Class C*	8,955
	$ 289,550

Annual Report

4. Fees and Other Transactions with Affiliates - continued

Sales Load - continued

Advisor Freedom 2025	Retained by FDC
Class A	$ 76,777
Class T	22,470
Class B*	103,490
Class C*	5,298
	$ 208,035
Advisor Freedom 2030
Class A	$ 88,664
Class T	23,626
Class B*	110,514
Class C*	6,832
	$ 229,636
Advisor Freedom 2035
Class A	$ 66,017
Class T	17,054
Class B*	54,786
Class C*	3,553
	$ 141,410
Advisor Freedom 2040
Class A	$ 83,138
Class T	23,635
Class B*	87,431
Class C*	6,126
	$ 200,330
Advisor Freedom 2045
Class A	$ 20,485
Class T	5,045
Class B*	12,765
Class C*	1,041
	$ 39,336
Advisor Freedom 2050
Class A	$ 22,931
Class T	7,100
Class B*	11,998
Class C*	2,367
	$ 44,396

* When Class B and Class C shares are initially sold, FDC pays commissions from its own resources to financial intermediaries through which the sales are made.

5. Expense Reductions.

FMR voluntarily agreed to reimburse funds to the extent annual operating expenses exceeded certain levels of average net assets as noted in the table below. Some expenses, for example interest expense, are excluded from this reimbursement.

The following classes of each applicable Fund were in reimbursement during the period:

	Expense Limitations	Reimbursement from adviser
Advisor Freedom Income
Class A	.25%	$ 401
Class T	.50%	162
Class B	1.00%	16
Class C	1.00%	43
Institutional Class	.00%	43

Annual Report

Notes to Financial Statements - continued

5. Expense Reductions - continued

	Expense Limitations	Reimbursement from adviser
Advisor Freedom 2005
Class A	.25%	$ 404
Class T	.50%	63
Class B	1.00%	10
Class C	1.00%	27
Institutional Class	.00%	47
Advisor Freedom 2010
Class A	.25%	1,443
Class T	.50%	645
Class B	1.00%	75
Class C	1.00%	150
Institutional Class	.00%	204
Advisor Freedom 2015
Class A	.25%	2,190
Class T	.50%	674
Class B	1.00%	109
Class C	1.00%	192
Institutional Class	.00%	362
Advisor Freedom 2020
Class A	.25%	3,240
Class T	.50%	1,462
Class B	1.00%	216
Class C	1.00%	270
Institutional Class	.00%	534
Advisor Freedom 2025
Class A	.25%	2,510
Class T	.50%	634
Class B	1.00%	114
Class C	1.00%	141
Institutional Class	.00%	346
Advisor Freedom 2030
Class A	.25%	2,596
Class T	.50%	1,073
Class B	1.00%	149
Class C	1.00%	181
Institutional Class	.00%	424
Advisor Freedom 2035
Class A	.25%	1,621
Class T	.50%	380
Class B	1.00%	77
Class C	1.00%	81
Institutional Class	.00%	226
Advisor Freedom 2040
Class A	.25%	1,716
Class T	.50%	837
Class B	1.00%	126
Class C	1.00%	150
Institutional Class	.00%	301

Annual Report

5. Expense Reductions - continued

	Expense Limitations	Reimbursement from adviser
Advisor Freedom 2045
Class A	.25%	$ 456
Class T	.50%	100
Class B	1.00%	10
Class C	1.00%	15
Institutional Class	.00%	70
Advisor Freedom 2050
Class A	.25%	316
Class T	.50%	112
Class B	1.00%	15
Class C	1.00%	25
Institutional Class	.00%	85

6. Distributions to Shareholders.

Distributions to shareholders of each class were as follows:

Years ended March 31,	2010	2009
Advisor Freedom Income
From net investment income
Class A	$ 2,649,510	$ 2,990,969
Class T	962,627	1,242,739
Class B	69,674	118,298
Class C	185,548	295,522
Institutional Class	317,793	304,252
Total	$ 4,185,152	$ 4,951,780
From net realized gain
Class A	$ 732,418	$ 1,103,465
Class T	282,856	501,951
Class B	27,780	58,786
Class C	75,264	143,588
Institutional Class	82,744	102,215
Total	$ 1,201,062	$ 1,910,005
Advisor Freedom 2005
From net investment income
Class A	$ 2,464,352	$ 2,875,262
Class T	327,239	435,635
Class B	32,599	67,624
Class C	95,996	160,605
Institutional Class	330,921	324,455
Total	$ 3,251,107	$ 3,863,581
From net realized gain
Class A	$ 994,230	$ 2,130,306
Class T	147,352	423,340
Class B	21,486	84,230
Class C	61,066	214,103
Institutional Class	124,312	207,885
Total	$ 1,348,446	$ 3,059,864

Annual Report

Notes to Financial Statements - continued

6. Distributions to Shareholders - continued

Years ended March 31,	2010	2009
Advisor Freedom 2010
From net investment income
Class A	$ 9,091,104	$ 10,947,222
Class T	3,497,344	5,111,081
Class B	293,043	504,030
Class C	620,780	905,547
Institutional Class	1,468,089	1,477,806
Total	$ 14,970,360	$ 18,945,686
From net realized gain
Class A	$ 3,593,351	$ 10,198,551
Class T	1,546,799	5,679,097
Class B	178,771	862,119
Class C	368,444	1,488,953
Institutional Class	537,373	1,190,826
Total	$ 6,224,738	$ 19,419,546
Advisor Freedom 2015
From net investment income
Class A	$ 13,679,424	$ 14,240,612
Class T	3,527,564	4,518,598
Class B	416,674	620,340
Class C	743,299	1,044,267
Institutional Class	2,473,155	2,519,733
Total	$ 20,840,116	$ 22,943,550
From net realized gain
Class A	$ 5,842,830	$ 15,189,802
Class T	1,678,828	5,848,859
Class B	274,462	1,211,160
Class C	483,221	1,851,735
Institutional Class	948,932	2,144,292
Total	$ 9,228,273	$ 26,245,848
Advisor Freedom 2020
From net investment income
Class A	$ 18,974,843	$ 19,215,664
Class T	7,050,784	9,183,010
Class B	736,617	1,086,901
Class C	991,170	1,261,267
Institutional Class	3,574,261	3,144,021
Total	$ 31,327,675	$ 33,890,863
From net realized gain
Class A	$ 8,917,115	$ 28,711,282
Class T	3,758,542	15,997,485
Class B	555,113	3,039,923
Class C	727,102	3,299,753
Institutional Class	1,527,831	3,413,264
Total	$ 15,485,703	$ 54,461,707
Advisor Freedom 2025
From net investment income
Class A	$ 14,118,695	$ 13,299,070
Class T	2,959,037	3,310,848
Class B	362,584	505,085
Class C	486,550	558,066
Institutional Class	2,155,759	1,956,756
Total	$ 20,082,625	$ 19,629,825

Annual Report

6. Distributions to Shareholders - continued

Years ended March 31,	2010	2009
Advisor Freedom 2025
From net realized gain
Class A	$ 7,285,104	$ 19,217,652
Class T	1,738,010	5,918,387
Class B	307,778	1,447,951
Class C	396,872	1,386,204
Institutional Class	996,789	2,048,202
Total	$ 10,724,553	$ 30,018,396
Advisor Freedom 2030
From net investment income
Class A	$ 12,452,357	$ 12,523,897
Class T	4,250,834	5,041,844
Class B	365,617	523,790
Class C	474,232	595,367
Institutional Class	2,328,021	2,087,935
Total	$ 19,871,061	$ 20,772,833
From net realized gain
Class A	$ 7,715,428	$ 24,763,231
Class T	3,092,971	11,555,431
Class B	420,885	2,319,770
Class C	529,883	2,296,059
Institutional Class	1,265,591	2,829,958
Total	$ 13,024,758	$ 43,764,449
Advisor Freedom 2035
From net investment income
Class A	$ 7,722,463	$ 6,685,226
Class T	1,461,433	1,578,824
Class B	182,301	253,655
Class C	206,849	241,140
Institutional Class	1,221,702	1,000,816
Total	$ 10,794,748	$ 9,759,661
From net realized gain
Class A	$ 4,762,560	$ 12,449,964
Class T	1,063,886	3,685,700
Class B	213,235	1,024,129
Class C	229,952	863,970
Institutional Class	664,843	1,315,321
Total	$ 6,934,476	$ 19,339,084
Advisor Freedom 2040
From net investment income
Class A	$ 8,229,546	$ 7,793,389
Class T	3,279,826	3,588,898
Class B	308,904	436,286
Class C	383,546	515,663
Institutional Class	1,642,482	1,332,872
Total	$ 13,844,304	$ 13,667,108
From net realized gain
Class A	$ 4,852,217	$ 18,027,783
Class T	2,246,554	9,963,489
Class B	335,168	2,093,643
Class C	406,856	2,284,827
Institutional Class	851,696	2,009,383
Total	$ 8,692,491	$ 34,379,125

Annual Report

Notes to Financial Statements - continued

6. Distributions to Shareholders - continued

Years ended March 31,	2010	2009
Advisor Freedom 2045
From net investment income
Class A	$ 2,212,999	$ 1,453,387
Class T	408,091	279,952
Class B	25,209	27,920
Class C	39,467	33,745
Institutional Class	374,869	218,818
Total	$ 3,060,635	$ 2,013,822
From net realized gain
Class A	$ 1,430,150	$ 1,746,634
Class T	305,415	344,367
Class B	29,833	73,453
Class C	44,309	73,894
Institutional Class	213,785	197,186
Total	$ 2,023,492	$ 2,435,534
Advisor Freedom 2050
From net investment income
Class A	$ 1,439,113	$ 1,030,278
Class T	429,631	319,811
Class B	33,433	38,529
Class C	56,059	62,649
Institutional Class	423,979	288,686
Total	$ 2,382,215	$ 1,739,953
From net realized gain
Class A	$ 987,306	$ 1,711,927
Class T	342,451	515,363
Class B	43,522	110,348
Class C	74,386	167,930
Institutional Class	254,492	240,733
Total	$ 1,702,157	$ 2,746,301

7. Share Transactions.

Transactions for each class of shares were as follows:

	Shares		Dollars
Years ended March 31,	2010	2009	2010	2009
Advisor Freedom Income
Class A
Shares sold	5,939,919	6,982,465	$ 58,801,119	$ 67,700,366
Reinvestment of distributions	337,348	424,486	3,334,001	4,014,480
Shares redeemed	(3,231,976)	(5,026,311)	(32,123,087)	(47,294,795)
Net increase (decrease)	3,045,291	2,380,640	$ 30,012,033	$ 24,420,051
Class T
Shares sold	2,030,571	2,860,068	$ 19,971,346	$ 27,200,706
Reinvestment of distributions	121,701	178,640	1,199,887	1,693,207
Shares redeemed	(2,006,879)	(2,445,970)	(19,795,299)	(23,290,929)
Net increase (decrease)	145,393	592,738	$ 1,375,934	$ 5,602,984
Class B
Shares sold	162,405	157,222	$ 1,613,389	$ 1,476,911
Reinvestment of distributions	9,197	17,174	90,890	162,898
Shares redeemed	(147,684)	(214,129)	(1,450,520)	(1,990,988)
Net increase (decrease)	23,918	(39,733)	$ 253,759	$ (351,179)

Annual Report

7. Share Transactions - continued

	Shares		Dollars
Years ended March 31,	2010	2009	2010	2009
Advisor Freedom Income
Class C
Shares sold	396,874	508,802	$ 3,943,497	$ 4,852,317
Reinvestment of distributions	22,975	39,179	227,312	372,190
Shares redeemed	(300,368)	(655,537)	(2,962,489)	(6,321,803)
Net increase (decrease)	119,481	(107,556)	$ 1,208,320	$ (1,097,296)
Institutional Class
Shares sold	1,124,925	766,168	$ 11,177,705	$ 7,275,963
Reinvestment of distributions	40,001	42,274	396,841	402,268
Shares redeemed	(381,938)	(712,207)	(3,796,827)	(6,686,370)
Net increase (decrease)	782,988	96,235	$ 7,777,719	$ 991,861
Advisor Freedom 2005
Class A
Shares sold	7,317,164	7,824,991	$ 72,565,372	$ 76,183,885
Reinvestment of distributions	339,976	527,603	3,435,631	4,959,217
Shares redeemed	(3,890,338)	(6,052,431)	(38,525,238)	(57,057,843)
Net increase (decrease)	3,766,802	2,300,163	$ 37,475,765	$ 24,085,259
Class T
Shares sold	1,132,309	1,107,674	$ 11,030,532	$ 10,689,045
Reinvestment of distributions	45,061	83,844	455,100	807,051
Shares redeemed	(773,364)	(1,238,205)	(7,549,693)	(11,959,868)
Net increase (decrease)	404,006	(46,687)	$ 3,935,939	$ (463,772)
Class B
Shares sold	54,150	93,691	$ 533,127	$ 943,061
Reinvestment of distributions	4,964	14,275	50,271	138,494
Shares redeemed	(109,244)	(157,750)	(1,080,645)	(1,505,391)
Net increase (decrease)	(50,130)	(49,784)	$ (497,247)	$ (423,836)
Class C
Shares sold	305,167	332,577	$ 3,018,553	$ 3,214,674
Reinvestment of distributions	14,510	34,394	146,747	335,809
Shares redeemed	(267,085)	(504,271)	(2,621,078)	(4,858,459)
Net increase (decrease)	52,592	(137,300)	$ 544,222	$ (1,307,976)
Institutional Class
Shares sold	937,114	679,881	$ 9,468,701	$ 6,849,983
Reinvestment of distributions	44,760	56,512	455,233	527,550
Shares redeemed	(359,918)	(434,113)	(3,572,136)	(4,200,339)
Net increase (decrease)	621,956	302,280	$ 6,351,798	$ 3,177,194
Advisor Freedom 2010
Class A
Shares sold	18,880,491	27,644,971	$ 190,682,441	$ 279,300,486
Reinvestment of distributions	1,212,193	2,137,557	12,543,848	20,813,308
Shares redeemed	(17,530,431)	(20,377,432)	(178,487,457)	(193,937,215)
Net increase (decrease)	2,562,253	9,405,096	$ 24,738,832	$ 106,176,579
Class T
Shares sold	5,949,706	10,512,535	$ 58,943,534	$ 100,864,998
Reinvestment of distributions	481,295	1,078,073	4,961,234	10,623,798
Shares redeemed	(7,663,328)	(9,978,388)	(76,116,113)	(95,483,371)
Net increase (decrease)	(1,232,327)	1,612,220	$ (12,211,345)	$ 16,005,425
Class B
Shares sold	182,133	360,739	$ 1,835,344	$ 3,611,530
Reinvestment of distributions	42,625	121,076	441,800	1,229,138
Shares redeemed	(595,063)	(951,618)	(5,991,071)	(8,905,172)
Net increase (decrease)	(370,305)	(469,803)	$ (3,713,927)	$ (4,064,504)

Annual Report

Notes to Financial Statements - continued

7. Share Transactions - continued

	Shares		Dollars
Years ended March 31,	2010	2009	2010	2009
Advisor Freedom 2010
Class C
Shares sold	952,028	1,451,192	$ 9,446,683	$ 14,356,301
Reinvestment of distributions	86,895	207,922	896,335	2,096,514
Shares redeemed	(1,279,015)	(2,043,613)	(12,836,486)	(19,263,851)
Net increase (decrease)	(240,092)	(384,499)	$ (2,493,468)	$ (2,811,036)
Institutional Class
Shares sold	3,337,499	3,808,131	$ 33,780,398	$ 39,641,688
Reinvestment of distributions	192,208	267,634	1,998,866	2,583,482
Shares redeemed	(1,682,623)	(2,374,575)	(17,082,328)	(22,636,136)
Net increase (decrease)	1,847,084	1,701,190	$ 18,696,936	$ 19,589,034
Advisor Freedom 2015
Class A
Shares sold	32,164,983	33,660,949	$ 323,357,211	$ 332,436,308
Reinvestment of distributions	1,876,238	2,969,139	19,317,105	29,046,026
Shares redeemed	(16,585,226)	(21,015,336)	(165,743,140)	(201,059,105)
Net increase (decrease)	17,455,995	15,614,752	$ 176,931,176	$ 160,423,229
Class T
Shares sold	6,975,850	9,552,536	$ 68,177,681	$ 93,377,388
Reinvestment of distributions	490,769	1,015,718	5,039,209	10,080,764
Shares redeemed	(6,790,785)	(7,598,715)	(67,432,006)	(71,596,533)
Net increase (decrease)	675,834	2,969,539	$ 5,784,884	$ 31,861,619
Class B
Shares sold	449,760	681,198	$ 4,433,310	$ 6,933,950
Reinvestment of distributions	64,006	168,864	659,460	1,718,215
Shares redeemed	(633,005)	(1,095,174)	(6,220,872)	(10,356,068)
Net increase (decrease)	(119,239)	(245,112)	$ (1,128,102)	$ (1,703,903)
Class C
Shares sold	1,453,766	1,862,954	$ 14,350,142	$ 18,285,509
Reinvestment of distributions	110,378	257,190	1,134,531	2,586,187
Shares redeemed	(1,395,406)	(1,826,626)	(13,893,073)	(17,084,660)
Net increase (decrease)	168,738	293,518	$ 1,591,600	$ 3,787,036
Institutional Class
Shares sold	5,176,355	6,396,847	$ 52,604,404	$ 66,855,852
Reinvestment of distributions	329,755	480,395	3,408,927	4,619,510
Shares redeemed	(2,498,861)	(3,018,599)	(25,183,981)	(28,959,207)
Net increase (decrease)	3,007,249	3,858,643	$ 30,829,350	$ 42,516,155
Advisor Freedom 2020
Class A
Shares sold	45,183,836	42,768,917	$ 463,202,937	$ 438,011,578
Reinvestment of distributions	2,595,974	4,520,276	27,655,510	47,381,140
Shares redeemed	(22,376,535)	(26,063,863)	(229,963,322)	(259,723,487)
Net increase (decrease)	25,403,275	21,225,330	$ 260,895,125	$ 225,669,231
Class T
Shares sold	13,389,476	18,886,061	$ 134,409,911	$ 186,399,308
Reinvestment of distributions	1,003,112	2,337,116	10,676,415	24,805,802
Shares redeemed	(14,031,668)	(14,070,253)	(143,283,312)	(140,504,124)
Net increase (decrease)	360,920	7,152,924	$ 1,803,014	$ 70,700,986
Class B
Shares sold	786,273	1,103,375	$ 7,911,628	$ 11,809,274
Reinvestment of distributions	116,218	360,923	1,242,364	3,962,480
Shares redeemed	(1,125,596)	(1,839,222)	(11,397,490)	(18,050,005)
Net increase (decrease)	(223,105)	(374,924)	$ (2,243,498)	$ (2,278,251)

Annual Report

7. Share Transactions - continued

	Shares		Dollars
Years ended March 31,	2010	2009	2010	2009
Advisor Freedom 2020
Class C
Shares sold	2,227,854	2,884,143	$ 22,595,108	$ 29,790,918
Reinvestment of distributions	147,034	361,443	1,569,561	3,933,566
Shares redeemed	(1,920,594)	(2,865,470)	(19,584,995)	(27,955,288)
Net increase (decrease)	454,294	380,116	$ 4,579,674	$ 5,769,196
Institutional Class
Shares sold	8,404,614	8,703,199	$ 87,788,002	$ 92,686,776
Reinvestment of distributions	474,048	630,394	5,075,149	6,383,899
Shares redeemed	(3,015,266)	(2,981,000)	(31,218,230)	(29,805,650)
Net increase (decrease)	5,863,396	6,352,593	$ 61,644,921	$ 69,265,025
Advisor Freedom 2025
Class A
Shares sold	40,250,497	36,598,209	$ 395,216,135	$ 351,257,221
Reinvestment of distributions	2,082,741	3,228,324	21,253,319	32,255,912
Shares redeemed	(17,708,216)	(17,140,862)	(173,855,795)	(160,248,668)
Net increase (decrease)	24,625,022	22,685,671	$ 242,613,659	$ 223,264,465
Class T
Shares sold	8,314,781	9,116,017	$ 80,263,098	$ 86,676,520
Reinvestment of distributions	448,807	882,777	4,590,362	9,017,264
Shares redeemed	(5,953,703)	(5,644,264)	(58,549,334)	(53,391,522)
Net increase (decrease)	2,809,885	4,354,530	$ 26,304,126	$ 42,302,262
Class B
Shares sold	580,667	743,353	$ 5,471,445	$ 7,578,046
Reinvestment of distributions	63,222	179,009	646,389	1,884,532
Shares redeemed	(658,819)	(812,754)	(6,344,074)	(7,458,928)
Net increase (decrease)	(14,930)	109,608	$ (226,240)	$ 2,003,650
Class C
Shares sold	1,510,376	1,719,703	$ 14,596,541	$ 16,055,880
Reinvestment of distributions	82,292	173,569	840,011	1,792,762
Shares redeemed	(907,187)	(960,545)	(8,676,397)	(8,431,223)
Net increase (decrease)	685,481	932,727	$ 6,760,155	$ 9,417,419
Institutional Class
Shares sold	4,943,550	7,043,431	$ 48,886,534	$ 74,326,650
Reinvestment of distributions	307,002	412,243	3,146,123	3,981,166
Shares redeemed	(1,470,965)	(2,496,321)	(14,449,276)	(24,805,293)
Net increase (decrease)	3,779,587	4,959,353	$ 37,583,381	$ 53,502,523
Advisor Freedom 2030
Class A
Shares sold	38,797,182	36,571,859	$ 395,875,652	$ 369,068,951
Reinvestment of distributions	1,866,748	3,333,735	19,998,334	36,933,871
Shares redeemed	(17,846,987)	(18,526,964)	(181,939,183)	(184,096,059)
Net increase (decrease)	22,816,943	21,378,630	$ 233,934,803	$ 221,906,763
Class T
Shares sold	12,307,212	15,493,194	$ 122,751,803	$ 151,841,595
Reinvestment of distributions	680,438	1,467,862	7,274,926	16,407,269
Shares redeemed	(9,841,745)	(8,605,624)	(99,921,008)	(87,102,297)
Net increase (decrease)	3,145,905	8,355,432	$ 30,105,721	$ 81,146,567
Class B
Shares sold	600,341	853,353	$ 5,980,332	$ 9,110,199
Reinvestment of distributions	70,777	234,952	763,149	2,754,171
Shares redeemed	(760,195)	(998,967)	(7,622,000)	(9,944,194)
Net increase (decrease)	(89,077)	89,338	$ (878,519)	$ 1,920,176

Annual Report

Notes to Financial Statements - continued

7. Share Transactions - continued

	Shares		Dollars
Years ended March 31,	2010	2009	2010	2009
Advisor Freedom 2030
Class C
Shares sold	1,605,657	1,778,130	$ 16,073,300	$ 17,627,965
Reinvestment of distributions	87,396	229,804	939,821	2,662,650
Shares redeemed	(1,278,913)	(1,190,976)	(13,072,332)	(11,472,328)
Net increase (decrease)	414,140	816,958	$ 3,940,789	$ 8,818,287
Institutional Class
Shares sold	6,778,493	7,173,836	$ 70,133,488	$ 74,902,303
Reinvestment of distributions	333,659	456,149	3,581,406	4,820,536
Shares redeemed	(2,077,011)	(2,109,452)	(21,173,240)	(21,087,016)
Net increase (decrease)	5,035,141	5,520,533	$ 52,541,654	$ 58,635,823
Advisor Freedom 2035
Class A
Shares sold	29,478,855	24,984,613	$ 283,259,853	$ 233,206,889
Reinvestment of distributions	1,224,913	1,840,329	12,371,642	18,981,347
Shares redeemed	(11,681,770)	(9,851,227)	(113,019,155)	(92,108,084)
Net increase (decrease)	19,021,998	16,973,715	$ 182,612,340	$ 160,080,152
Class T
Shares sold	5,784,903	5,952,168	$ 54,332,277	$ 55,077,528
Reinvestment of distributions	245,284	492,541	2,472,154	5,172,978
Shares redeemed	(3,918,900)	(3,034,429)	(37,204,051)	(28,314,087)
Net increase (decrease)	2,111,287	3,410,280	$ 19,600,380	$ 31,936,419
Class B
Shares sold	405,509	579,388	$ 3,788,136	$ 5,700,656
Reinvestment of distributions	38,336	114,147	387,872	1,248,634
Shares redeemed	(357,555)	(425,319)	(3,379,935)	(3,994,907)
Net increase (decrease)	86,290	268,216	$ 796,073	$ 2,954,383
Class C
Shares sold	971,148	1,020,539	$ 9,096,299	$ 9,370,199
Reinvestment of distributions	41,555	96,416	420,018	1,041,544
Shares redeemed	(574,523)	(479,767)	(5,371,383)	(4,400,281)
Net increase (decrease)	438,180	637,188	$ 4,144,934	$ 6,011,462
Institutional Class
Shares sold	3,975,253	4,318,097	$ 38,607,280	$ 43,926,192
Reinvestment of distributions	186,356	233,544	1,885,670	2,312,872
Shares redeemed	(1,088,290)	(1,210,387)	(10,464,439)	(11,613,780)
Net increase (decrease)	3,073,319	3,341,254	$ 30,028,511	$ 34,625,284
Advisor Freedom 2040
Class A
Shares sold	24,913,305	22,907,802	$ 252,890,462	$ 229,408,437
Reinvestment of distributions	1,193,321	2,235,268	12,861,441	25,465,481
Shares redeemed	(12,253,872)	(11,591,220)	(125,782,802)	(118,053,909)
Net increase (decrease)	13,852,754	13,551,850	$ 139,969,101	$ 136,820,009
Class T
Shares sold	10,000,332	11,685,682	$ 99,858,612	$ 115,123,107
Reinvestment of distributions	509,696	1,168,582	5,481,963	13,493,008
Shares redeemed	(8,036,589)	(6,458,211)	(81,578,421)	(67,074,170)
Net increase (decrease)	2,473,439	6,396,053	$ 23,762,154	$ 61,541,945
Class B
Shares sold	476,095	697,441	$ 4,732,469	$ 7,381,584
Reinvestment of distributions	58,166	205,367	628,599	2,471,340
Shares redeemed	(566,960)	(768,134)	(5,619,118)	(7,870,942)
Net increase (decrease)	(32,699)	134,674	$ (258,050)	$ 1,981,982

Annual Report

7. Share Transactions - continued

	Shares		Dollars
Years ended March 31,	2010	2009	2010	2009
Advisor Freedom 2040
Class C
Shares sold	1,191,976	1,430,154	$ 11,944,778	$ 14,372,126
Reinvestment of distributions	70,129	222,333	756,765	2,652,427
Shares redeemed	(1,050,495)	(1,186,886)	(10,581,828)	(11,203,689)
Net increase (decrease)	211,610	465,601	$ 2,119,715	$ 5,820,864
Institutional Class
Shares sold	4,937,197	5,128,738	$ 50,576,131	$ 52,025,528
Reinvestment of distributions	230,524	301,181	2,486,427	3,256,018
Shares redeemed	(1,571,826)	(1,363,335)	(15,921,925)	(14,118,456)
Net increase (decrease)	3,595,895	4,066,584	$ 37,140,633	$ 41,163,090
Advisor Freedom 2045
Class A
Shares sold	13,663,363	10,501,973	$ 108,131,504	$ 79,738,869
Reinvestment of distributions	434,034	402,720	3,629,970	3,193,824
Shares redeemed	(4,807,430)	(2,847,127)	(38,399,839)	(21,159,265)
Net increase (decrease)	9,289,967	8,057,566	$ 73,361,635	$ 61,773,428
Class T
Shares sold	3,019,866	2,641,382	$ 23,345,550	$ 19,692,407
Reinvestment of distributions	84,802	78,999	708,733	621,637
Shares redeemed	(1,269,123)	(760,540)	(9,935,840)	(5,831,312)
Net increase (decrease)	1,835,545	1,959,841	$ 14,118,443	$ 14,482,732
Class B
Shares sold	151,912	201,093	$ 1,183,636	$ 1,704,203
Reinvestment of distributions	6,409	11,604	53,934	99,161
Shares redeemed	(75,001)	(69,458)	(599,710)	(523,370)
Net increase (decrease)	83,320	143,239	$ 637,860	$ 1,279,994
Class C
Shares sold	299,037	340,192	$ 2,351,191	$ 2,575,960
Reinvestment of distributions	9,804	12,674	82,368	105,589
Shares redeemed	(118,526)	(81,675)	(901,091)	(587,757)
Net increase (decrease)	190,315	271,191	$ 1,532,468	$ 2,093,792
Institutional Class
Shares sold	2,136,614	1,743,476	$ 16,905,851	$ 13,791,749
Reinvestment of distributions	70,375	54,380	588,654	416,004
Shares redeemed	(553,542)	(376,442)	(4,413,315)	(3,079,340)
Net increase (decrease)	1,653,447	1,421,414	$ 13,081,190	$ 11,128,413
Advisor Freedom 2050
Class A
Shares sold	9,581,471	7,208,292	$ 73,833,021	$ 52,190,277
Reinvestment of distributions	291,959	338,127	2,406,119	2,729,949
Shares redeemed	(4,148,608)	(2,726,472)	(32,257,966)	(20,275,710)
Net increase (decrease)	5,724,822	4,819,947	$ 43,981,174	$ 34,644,516
Class T
Shares sold	3,635,495	3,043,075	$ 27,820,143	$ 22,952,674
Reinvestment of distributions	92,896	103,511	765,843	821,243
Shares redeemed	(2,095,310)	(874,640)	(16,196,123)	(6,429,499)
Net increase (decrease)	1,633,081	2,271,946	$ 12,389,863	$ 17,344,418
Class B
Shares sold	210,935	270,438	$ 1,592,970	$ 2,159,352
Reinvestment of distributions	9,042	16,859	75,136	143,208
Shares redeemed	(87,238)	(72,982)	(663,372)	(547,997)
Net increase (decrease)	132,739	214,315	$ 1,004,734	$ 1,754,563

Annual Report

Notes to Financial Statements - continued

7. Share Transactions - continued

	Shares		Dollars
Years ended March 31,	2010	2009	2010	2009
Advisor Freedom 2050
Class C
Shares sold	373,964	515,969	$ 2,823,004	$ 3,934,942
Reinvestment of distributions	14,928	25,508	124,197	214,919
Shares redeemed	(224,961)	(110,097)	(1,746,454)	(804,741)
Net increase (decrease)	163,931	431,380	$ 1,200,747	$ 3,345,120
Institutional Class
Shares sold	2,689,897	2,337,700	$ 21,086,162	$ 17,484,042
Reinvestment of distributions	82,208	72,013	678,287	526,754
Shares redeemed	(780,619)	(442,034)	(6,106,242)	(3,255,730)
Net increase (decrease)	1,991,486	1,967,679	$ 15,658,207	$ 14,755,066

8. Other.

The Funds' organizational documents provide former and current trustees and officers with a limited indemnification against liabilities arising in connection with the performance of their duties to the Funds. In the normal course of business, the Funds may also enter into contracts that provide general indemnifications. The Funds' maximum exposure under these arrangements is unknown as this would be dependent on future claims that may be made against the Funds. The risk of material loss from such claims is considered remote.

The Funds do not invest in the Underlying Funds for the purpose of exercising management or control; however, investments by the Funds within their principal investment strategies may represent a significant portion of the Underlying Fund's net assets. At the end of the period, the following Advisor Freedom Funds were the owners of record of 10% or more of the total outstanding shares of the Underlying Funds.

Fund	Advisor Freedom 2020	Advisor Freedom 2030
Fidelity Advisor Large Cap Fund	12%	11%

The Funds, in aggregate, were the owners of record of more than 20% of the total outstanding shares of the following Underlying Funds.

Fund	% of shares held
Fidelity Advisor Growth & Income Fund	50%
Fidelity Advisor Large Cap Fund	63%
Fidelity Advisor Overseas Fund	44%
Fidelity Advisor High Income Advantage Fund	25%

Annual Report

Report of Independent Registered Public Accounting Firm

To the Trustees of Fidelity Aberdeen Street Trust and the Shareholders of Fidelity Advisor Freedom Income Fund, Fidelity Advisor Freedom 2005 Fund, Fidelity Advisor Freedom 2010 Fund, Fidelity Advisor Freedom 2015 Fund, Fidelity Advisor Freedom 2020 Fund, Fidelity Advisor Freedom 2025 Fund, Fidelity Advisor Freedom 2030 Fund, Fidelity Advisor Freedom 2035 Fund, Fidelity Advisor Freedom 2040 Fund, Fidelity Advisor Freedom 2045 Fund and Fidelity Advisor Freedom 2050 Fund:

We have audited the accompanying statements of assets and liabilities of Fidelity Advisor Freedom Income Fund, Fidelity Advisor Freedom 2005 Fund, Fidelity Advisor Freedom 2010 Fund, Fidelity Advisor Freedom 2015 Fund, Fidelity Advisor Freedom 2020 Fund, Fidelity Advisor Freedom 2025 Fund, Fidelity Advisor Freedom 2030 Fund, Fidelity Advisor Freedom 2035 Fund, Fidelity Advisor Freedom 2040 Fund, Fidelity Advisor Freedom 2045 Fund and Fidelity Advisor Freedom 2050 Fund (the Funds) each a fund of Fidelity Aberdeen Street Trust, including the schedules of investments, as of March 31, 2010, and the related statements of operations for the year then ended, the statements of changes in net assets for each of the two years in the period then ended, and the financial highlights for each of the periods presented. These financial statements and financial highlights are the responsibility of the Funds' management. Our responsibility is to express an opinion on these financial statements and financial highlights based on our audits.

We conducted our audits in accordance with standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements and financial highlights are free of material misstatement. The Funds are not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. Our audits included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Fund's internal control over financial reporting. Accordingly, we express no such opinion. An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. Our procedures included confirmation of securities owned as of March 31, 2010, by correspondence with the transfer agent; where replies were not received from the transfer agent, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the financial statements and financial highlights referred to above present fairly, in all material respects, the financial positions of Fidelity Advisor Freedom Income Fund, Fidelity Advisor Freedom 2005 Fund, Fidelity Advisor Freedom 2010 Fund, Fidelity Advisor Freedom 2015 Fund, Fidelity Advisor Freedom 2020 Fund, Fidelity Advisor Freedom 2025 Fund, Fidelity Advisor Freedom 2030 Fund, Fidelity Advisor Freedom 2035 Fund, Fidelity Advisor Freedom 2040 Fund, Fidelity Advisor Freedom 2045 Fund and Fidelity Advisor Freedom 2050 Fund as of March 31, 2010, the results of their operations for the year then ended, the changes in their net assets for each of the two years in the period then ended, and their financial highlights for each of the periods presented, in conformity with accounting principles generally accepted in the United States of America.

/s/ Deloitte & Touche LLP

DELOITTE & TOUCHE LLP

Boston, Massachusetts

May 21, 2010

Annual Report

Trustees and Officers

The Trustees and executive officers of the trust and funds, as applicable, are listed below. The Board of Trustees governs each Fidelity Advisor Freedom Fund and is responsible for protecting the interests of shareholders. The Trustees are experienced executives who meet periodically throughout the year to oversee each Fidelity Advisor Freedom Fund's activities, review contractual arrangements with companies that provide services to each Fidelity Advisor Freedom Fund, oversee management of the risks associated with such activities and contractual arrangements, and review each Fidelity Advisor Freedom Fund's performance. If the interests of a Fidelity Advisor Freedom Fund and an underlying Fidelity fund were to diverge, a conflict of interest could arise and affect how the Trustees fulfill their fiduciary duties to the affected funds. Strategic Advisers has structured the Fidelity Advisor Freedom Funds to avoid these potential conflicts, although there may be situations where a conflict of interest is unavoidable. In such instances, Strategic Advisers and the Trustees would take reasonable steps to minimize and, if possible, eliminate the conflict. Except for James C. Curvey, each of the Trustees oversees 189 funds advised by FMR or an affiliate. Mr. Curvey oversees 411 funds advised by FMR or an affiliate.

The Trustees hold office without limit in time except that (a) any Trustee may resign; (b) any Trustee may be removed by written instrument, signed by at least two-thirds of the number of Trustees prior to such removal; (c) any Trustee who requests to be retired or who has become incapacitated by illness or injury may be retired by written instrument signed by a majority of the other Trustees; and (d) any Trustee may be removed at any special meeting of shareholders by a two-thirds vote of the outstanding voting securities of the trust. Each Trustee who is not an interested person (as defined in the 1940 Act) (Independent Trustee), shall retire not later than the last day of the calendar year in which his or her 72nd birthday occurs. The Independent Trustees may waive this mandatory retirement age policy with respect to individual Trustees. The executive officers hold office without limit in time, except that any officer may resign or may be removed by a vote of a majority of the Trustees at any regular meeting or any special meeting of the Trustees. Except as indicated, each individual has held the office shown or other offices in the same company for the past five years.

Experience, Skills, Attributes, and Qualifications of the Funds' Trustees. The Governance and Nominating Committee has adopted a statement of policy that describes the experience, qualifications, attributes, and skills that are necessary and desirable for potential Independent Trustee candidates (Statement of Policy). The Board believes that each Trustee satisfied at the time he or she was initially elected or appointed a Trustee, and continues to satisfy, the standards contemplated by the Statement of Policy. The Governance and Nominating Committee also engages professional search firms to help identify potential Independent Trustee candidates who have the experience, qualifications, attributes, and skills consistent with the Statement of Policy. From time to time, additional criteria based on the composition and skills of the current Independent Trustees, as well as experience or skills that may be appropriate in light of future changes to board composition, business conditions, and regulatory or other developments, have also been considered by the professional search firms and the Governance and Nominating Committee. In addition, the Board takes into account the Trustees' commitment and participation in Board and committee meetings, as well as their leadership of standing and ad hoc committees throughout their tenure.

In determining that a particular Trustee was and continues to be qualified to serve as a Trustee, the Board has considered a variety of criteria, none of which, in isolation, was controlling. The Board believes that, collectively, the Trustees have balanced and diverse experience, qualifications, attributes, and skills, which allow the Board to operate effectively in governing each fund and protecting the interests of shareholders. Information about the specific experience, skills, attributes, and qualifications of each Trustee, which in each case led to the Board's conclusion that the Trustee should serve (or continue to serve) as a trustee of the funds, is provided below.

Board Structure and Oversight Function. Abigail P. Johnson is an interested person (as defined in the 1940 Act) and currently serves as Chairman. The Trustees have determined that an interested Chairman is appropriate and benefits shareholders because an interested Chairman has a personal and professional stake in the quality and continuity of services provided to the funds. Independent Trustees exercise their informed business judgment to appoint an individual of their choosing to serve as Chairman, regardless of whether the Trustee happens to be independent or a member of management. The Independent Trustees have determined that they can act independently and effectively without having an Independent Trustee serve as Chairman and that a key structural component for assuring that they are in a position to do so is for the Independent Trustees to constitute a substantial majority for the Board. The Independent Trustees also regularly meet in executive session. Kenneth L. Wolfe serves as Chairman of the Independent Trustees and as such (i) acts as a liaison between the Independent Trustees and management with respect to matters important to the Independent Trustees and (ii) with management prepares agendas for Board meetings.

Fidelity funds are overseen by different Boards of Trustees. The funds' Board oversees Fidelity's investment-grade bond, money market, and asset allocation funds and another Board oversees Fidelity's equity and high income funds. The asset allocation funds may invest in Fidelity funds that are overseen by such other Board. The use of separate Boards, each with its own committee structure, allows the Trustees of each group of Fidelity funds to focus on the unique issues of the funds they oversee, including common research, investment, and operational issues. On occasion, the separate Boards establish joint committees to address issues of overlapping consequences for the Fidelity funds overseen by each Board.

The Trustees operate using a system of committees to facilitate the timely and efficient consideration of all matters of importance to the Trustees, each fund, and fund shareholders and to facilitate compliance with legal and regulatory requirements and oversight of the funds' activities and associated risks. The Board, acting through its committees, has charged FMR and its affiliates with (i) identifying events or circumstances the occurrence of which could have demonstrably adverse effects on the funds' business and/or reputation; (ii) implementing processes and controls to lessen the possibility that such events or circumstances occur or to mitigate the effects of such events or circumstances if they do occur; and (iii) creating and maintaining a system designed to evaluate continuously business and market conditions in order to facilitate the identification and implementation processes described in (i) and (ii) above. Because the day-to-day operations and activities of the funds are carried out by or through FMR, its affiliates and other service providers, the funds' exposure to risks is mitigated but not eliminated by the processes overseen by the Trustees. While each of the Board's committees has responsibility for overseeing different aspects of the funds' activities, oversight is exercised primarily through the Operations and Audit Committees. Appropriate personnel, including but not limited to the funds' Chief Compliance Officer (CCO), FMR's internal auditor, the independent accountants, the funds' Treasurer and portfolio management personnel, make periodic reports to the Board's committees, as appropriate. The responsibilities of each committee, including their oversight responsibilities, are described further under "Standing Committees of the Funds' Trustees."

Annual Report

Trustees and Officers - continued

The funds' Statement of Additional Information (SAI) includes more information about the Trustees. To request a free copy, call Fidelity at 1-877-208-0098.

Interested Trustees*:

Correspondence intended for each Trustee who is an interested person may be sent to Fidelity Investments, 82 Devonshire Street, Boston, Massachusetts 02109.

Name, Age; Principal Occupations and Other Relevant Experience⁺
Abigail P. Johnson (48)
	Year of Election or Appointment: 2009 Ms. Johnson is Trustee and Chairman of the Board of Trustees of certain Trusts. Ms. Johnson serves as President of Personal and Workplace Investing (2005-present). Ms. Johnson is a Director of FMR LLC. Previously, Ms. Johnson served as President and a Director of FMR (2001-2005), a Trustee of other investment companies advised by FMR, Fidelity Investments Money Management, Inc., and FMR Co., Inc. (2001-2005), Senior Vice President of the Fidelity funds (2001-2005), and managed a number of Fidelity funds. Ms. Abigail P. Johnson and Mr. Arthur E. Johnson are not related.
James C. Curvey (74)
	Year of Election or Appointment: 2007 Mr. Curvey also serves as Trustee (2007-present) of other investment companies advised by FMR. Mr. Curvey is a Director of FMR and FMR Co., Inc. (2007-present). Mr. Curvey is also Vice Chairman (2006-present) and Director of FMR LLC. In addition, Mr. Curvey serves as an Overseer for the Boston Symphony Orchestra and a member of the Trustees of Villanova University.

* Trustees have been determined to be "Interested Trustees" by virtue of, among other things, their affiliation with the trust or various entities under common control with FMR.

⁺ The information above includes each Trustee's principal occupation during the last five years and other information relating to the experience, attributes, and skills relevant to each Trustee's qualifications to serve as a Trustee, which led to the conclusion that each Trustee should serve as a Trustee for each fund.

Independent Trustees:

Correspondence intended for each Independent Trustee (that is, the Trustees other than the Interested Trustees) may be sent to Fidelity Investments, P.O. Box 55235, Boston, Massachusetts 02205-5235.

Name, Age; Principal Occupations and Other Relevant Experience⁺
Albert R. Gamper, Jr. (68)
	Year of Election or Appointment: 2006 Prior to his retirement in December 2004, Mr. Gamper served as Chairman of the Board of CIT Group Inc. (commercial finance). During his tenure with CIT Group Inc. Mr. Gamper served in numerous senior management positions, including Chairman (1987-1989; 1999-2001; 2002-2004), Chief Executive Officer (1987-2004), and President (2002-2003). He also served as President and Chief Executive Officer of Tyco Capital Corporation (2001-2002). Mr. Gamper currently serves as a member of the Board of Directors of Public Service Enterprise Group (utilities, 2000-present), a member of the Board of Trustees, Rutgers University (2004-present), and Chairman of the Board of Saint Barnabas Health Care System. Previously, Mr. Gamper served as Chairman of the Board of Governors, Rutgers University (2004-2007).
Robert F. Gartland (58)
	Year of Election or Appointment: 2010 Mr. Gartland is a partner and investor of Vietnam Partners LLC (investments and consulting, 2008-present) and is Chairman and an investor in Gartland and Mellina Group Corp. (consulting, 2009-present). Prior to his retirement, Mr. Gartland held a variety of positions at Morgan Stanley (financial services, 1979-2007) including Managing Director (1987-2007).
Arthur E. Johnson (63)
	Year of Election or Appointment: 2008 Mr. Johnson serves as a member of the Board of Directors of Eaton Corporation (diversified power management, 2009-present) and AGL Resources, Inc. (holding company). Prior to his retirement, Mr. Johnson served as Senior Vice President of Corporate Strategic Development of Lockheed Martin Corporation (defense contractor, 1999-2009). He previously served on the Board of Directors of IKON Office Solutions, Inc. (1999-2008) and Delta Airlines (2005-2007). Mr. Arthur E. Johnson and Ms. Abigail P. Johnson are not related.
Michael E. Kenneally (56)
	Year of Election or Appointment: 2009 Prior to his retirement, Mr. Kenneally served as a Member of the Advisory Board for certain Fidelity Fixed Income and Asset Allocation Funds (2008-2009). Mr. Kenneally served as Chairman and Global Chief Executive Officer of Credit Suisse Asset Management (2003-2005). Mr. Kenneally was a Director of the Credit Suisse Funds (U.S. mutual funds, 2004-2008) and certain other closed-end funds (2004-2005) and was awarded the Chartered Financial Analyst (CFA) designation in 1991.
James H. Keyes (69)
	Year of Election or Appointment: 2007 Mr. Keyes serves as a member of the Boards of Navistar International Corporation (manufacture and sale of trucks, buses, and diesel engines, since 2002) and Pitney Bowes, Inc. (integrated mail, messaging, and document management solutions, since 1998). Prior to his retirement, Mr. Keyes served as Chairman and Chief Executive Officer of Johnson Controls (automotive, building, and energy, 1998-2002) and as a member of the Board of LSI Logic Corporation (semiconductor technologies, 1984-2008).
Marie L. Knowles (63)
	Year of Election or Appointment: 2001 Prior to Ms. Knowles' retirement in June 2000, she served as Executive Vice President and Chief Financial Officer of Atlantic Richfield Company (ARCO) (diversified energy, 1996-2000). From 1993 to 1996, she was a Senior Vice President of ARCO and President of ARCO Transportation Company. She served as a Director of ARCO from 1996 to 1998. Ms. Knowles currently serves as a Director of McKesson Corporation (healthcare service, since 2002). Ms. Knowles is an Honorary Trustee of the Brookings Institution and a member of the Board of the Catalina Island Conservancy and of the Santa Catalina Island Company (2009-present). She also serves as a member of the Advisory Board for the School of Engineering of the University of Southern California and the Foundation Board of the School of Architecture at the University of Virginia (2007-present). Previously, Ms. Knowles served as a Director of Phelps Dodge Corporation (copper mining and manufacturing, 1994-2007).
Kenneth L. Wolfe (71)
	Year of Election or Appointment: 2005 Mr. Wolfe is Chairman of the Independent Trustees of the Fixed Income and Asset Allocation Funds (2008-present). Prior to his retirement, Mr. Wolfe served as Chairman and a Director (2007-2009) and Chairman and Chief Executive Officer of Hershey Foods Corporation. He also served as a member of the Boards of Adelphia Communications Corporation (telecommunications, 2003-2006), Bausch & Lomb, Inc. (medical/pharmaceutical, 1993-2007), and Revlon, Inc. (personal care products, 2004-2009).

Executive Officers:

Correspondence intended for each executive officer may be sent to Fidelity Investments, 82 Devonshire Street, Boston, Massachusetts 02109.

Name, Age; Principal Occupation
John R. Hebble (51)
	Year of Election or Appointment: 2008 President and Treasurer of Fidelity's Fixed Income and Asset Allocation Funds. Mr. Hebble also serves as Treasurer and Chief Financial Officer of The North Carolina Capital Management Trust: Cash and Term Portfolio (2008-present), Assistant Treasurer of other Fidelity funds (2009-present) and is an employee of Fidelity Investments.
Boyce I. Greer (54)
	Year of Election or Appointment: 2005 or 2006 Vice President of Fidelity's Fixed Income Funds (2006) and Asset Allocation Funds (2005). Mr. Greer is also a Trustee of other investment companies advised by FMR. Mr. Greer is President of the Asset Allocation Division (2008-present), President and a Director of Strategic Advisers, Inc. (2008-present), President and a Director of Fidelity Investments Money Management, Inc. (2007-present), and an Executive Vice President of FMR (2005-present). Previously, Mr. Greer served as Executive Vice President of FMR Co., Inc. (2005-2009), and as a Director and Managing Director of Strategic Advisers, Inc. (2002-2005).
Derek L. Young (45)
	Year of Election or Appointment: 2009 Vice President of Fidelity's Asset Allocation Funds. Mr. Young also serves as Chief Investment Officers of the Global Asset Allocation Group (2009-present). Previously, Mr. Young served as a portfolio manager.
Scott C. Goebel (42)
	Year of Election or Appointment: 2008 Secretary and Chief Legal Officer (CLO) of the Fidelity funds. Mr. Goebel also serves as General Counsel, Secretary, and Senior Vice President of FMR (2008-present) and FMR Co., Inc. (2008-present); Deputy General Counsel of FMR LLC; Chief Legal Officer of Fidelity Management & Research (Hong Kong) Limited (2008-present) and Assistant Secretary of Fidelity Management & Research (Japan) Inc. (2008-present), Fidelity Investments Money Management, Inc. (2008-present), Fidelity Management & Research (U.K.) Inc. (2008-present), and Fidelity Research and Analysis Company (2008-present). Previously, Mr. Goebel served as Assistant Secretary of the Funds (2007-2008) and as Vice President and Secretary of Fidelity Distributors Corporation (FDC) (2005-2007).
Holly C. Laurent (55)
	Year of Election or Appointment: 2008 Anti-Money Laundering (AML) Officer of the Fidelity funds. Ms. Laurent is an employee of Fidelity Investments. Previously, Ms. Laurent was Senior Vice President and Head of Legal for Fidelity Business Services India Pvt. Ltd. (2006-2008), and Senior Vice President, Deputy General Counsel and Group Head for FMR LLC (2005-2006).
Christine Reynolds (51)
	Year of Election or Appointment: 2008 Chief Financial Officer of the Fidelity funds. Ms. Reynolds became President of Fidelity Pricing and Cash Management Services (FPCMS) in August 2008. Ms. Reynolds served as Chief Operating Officer of FPCMS (2007-2008). Previously, Ms. Reynolds served as President, Treasurer, and Anti-Money Laundering officer of the Fidelity funds (2004-2007).
Michael H. Whitaker (42)
	Year of Election or Appointment: 2008 Chief Compliance Officer of Fidelity's Fixed Income and Asset Allocation Funds. Mr. Whitaker is an employee of Fidelity Investments (2007-present). Prior to joining Fidelity Investments, Mr. Whitaker worked at MFS Investment Management where he served as Senior Vice President and Chief Compliance Officer (2004-2006), and Assistant General Counsel.
Jeffrey S. Christian (48)
	Year of Election or Appointment: 2009 Deputy Treasurer of the Fidelity funds. Mr. Christian is an employee of Fidelity Investments. Previously, Mr. Christian served as Chief Financial Officer (2008-2009) of certain Fidelity funds and Senior Vice President of Fidelity Pricing and Cash Management Services (FPCMS) (2004-2009).
Bryan A. Mehrmann (48)
	Year of Election or Appointment: 2005 Deputy Treasurer of the Fidelity funds. Mr. Mehrmann is an employee of Fidelity Investments.
Stephanie J. Dorsey (40)
	Year of Election or Appointment: 2008 Deputy Treasurer of Fidelity's Fixed Income and Asset Allocation Funds. Ms. Dorsey is an employee of Fidelity Investments (2008-present). Previously, Ms. Dorsey served as Treasurer (2004-2008) of the JPMorgan Mutual Funds and Vice President (2004-2008) of JPMorgan Chase Bank.
Paul M. Murphy (63)
	Year of Election or Appointment: 2007 Assistant Treasurer of the Fidelity funds. Mr. Murphy is an employee of Fidelity Investments. Previously, Mr. Murphy served as Chief Financial Officer of the Fidelity funds (2005-2006), Vice President and Associate General Counsel of FMR (2007), and Senior Vice President of Fidelity Pricing and Cash Management Services (FPCMS) (1994-2007).
Kenneth B. Robins (40)
	Year of Election or Appointment: 2009 Assistant Treasurer of the Fidelity Fixed Income and Asset Allocation Funds. Mr. Robins also serves as President and Treasurer of other Fidelity funds (2008-present; 2010-present) and is an employee of Fidelity Investments (2004-present). Previously, Mr. Robins served as Deputy Treasurer of the Fidelity funds (2005-2008) and Treasurer and Chief Financial Officer of The North Carolina Capital Management Trust: Cash and Term Portfolios (2006-2008).
Gary W. Ryan (51)
	Year of Election or Appointment: 2005 Assistant Treasurer of the Fidelity funds. Mr. Ryan is an employee of Fidelity Investments. Previously, Mr. Ryan served as Vice President of Fund Reporting in Fidelity Pricing and Cash Management Services (FPCMS) (1999-2005).

Annual Report

Distributions (Unaudited)

The Board of Trustees of each fund voted to pay to shareholders of record at the opening of business on record date, the following distributions per share derived from capital gains realized from sales of portfolio securities and dividends derived from net investment income:

	Pay Date	Record Date	Dividends	Capital Gains
Fidelity Advisor Freedom Income Fund
Class A	05/10/10	05/07/10	$0.010	$0.012
Class T	05/10/10	05/07/10	$0.008	$0.012
Class B	05/10/10	05/07/10	$0.004	$0.012
Class C	05/10/10	05/07/10	$0.004	$0.012
Fidelity Advisor Freedom 2005 Fund
Class A	05/10/10	05/07/10	$0.027	$0.023
Class T	05/10/10	05/07/10	$0.020	$0.023
Class B	05/10/10	05/07/10	$0.007	$0.023
Class C	05/10/10	05/07/10	$0.008	$0.023
Fidelity Advisor Freedom 2010 Fund
Class A	05/10/10	05/07/10	$0.027	$0.025
Class T	05/10/10	05/07/10	$0.020	$0.025
Class B	05/10/10	05/07/10	$0.006	$0.025
Class C	05/10/10	05/07/10	$0.007	$0.025
Fidelity Advisor Freedom 2015 Fund
Class A	05/10/10	05/07/10	$0.026	$0.026
Class T	05/10/10	05/07/10	$0.020	$0.026
Class B	05/10/10	05/07/10	$0.006	$0.026
Class C	05/10/10	05/07/10	$0.007	$0.026
Fidelity Advisor Freedom 2020 Fund
Class A	05/10/10	05/07/10	$0.024	$0.033
Class T	05/10/10	05/07/10	$0.017	$0.033
Class B	05/10/10	05/07/10	$0.003	$0.033
Class C	05/10/10	05/07/10	$0.003	$0.033
Fidelity Advisor Freedom 2025 Fund
Class A	05/10/10	05/07/10	$0.019	$0.034
Class T	05/10/10	05/07/10	$0.012	$0.034
Class B	05/10/10	05/07/10	$-	$0.033
Class C	05/10/10	05/07/10	$0.001	$0.034
Fidelity Advisor Freedom 2030 Fund
Class A	05/10/10	05/07/10	$0.018	$0.038
Class T	05/10/10	05/07/10	$0.011	$0.038
Class B	05/10/10	05/07/10	$-	$0.034
Class C	05/10/10	05/07/10	$-	$0.035
Fidelity Advisor Freedom 2035 Fund
Class A	05/10/10	05/07/10	$0.010	$0.041
Class T	05/10/10	05/07/10	$0.004	$0.041
Class B	05/10/10	05/07/10	$-	$0.032
Class C	05/10/10	05/07/10	$-	$0.033
Fidelity Advisor Freedom 2040 Fund
Class A	05/10/10	05/07/10	$0.011	$0.045
Class T	05/10/10	05/07/10	$0.004	$0.045
Class B	05/10/10	05/07/10	$-	$0.035
Class C	05/10/10	05/07/10	$-	$0.035
	Pay Date	Record Date	Dividends	Capital Gains
Fidelity Advisor Freedom 2045 Fund
Class A	05/10/10	05/07/10	$0.008	$0.033
Class T	05/10/10	05/07/10	$0.003	$0.033
Class B	05/10/10	05/07/10	$-	$0.027
Class C	05/10/10	05/07/10	$-	$0.027
Fidelity Advisor Freedom 2050 Fund
Class A	05/10/10	05/07/10	$0.006	$0.034
Class T	05/10/10	05/07/10	$0.001	$0.034
Class B	05/10/10	05/07/10	$-	$0.025
Class C	05/10/10	05/07/10	$-	$0.024

A percentage of the dividends distributed during the fiscal year for the following funds was derived from interest on U.S. Government securities which is generally exempt from state income tax:

Fidelity Advisor Freedom Income Fund
Class A	7.36%
Class T	7.36%
Class B	7.36%
Class C	7.36%
Fidelity Advisor Freedom 2005 Fund
Class A	5.63%
Class T	5.63%
Class B	5.63%
Class C	5.63%
Fidelity Advisor Freedom 2010 Fund
Class A	5.46%
Class T	5.46%
Class B	5.46%
Class C	5.46%
Fidelity Advisor Freedom 2015 Fund
Class A	5.25%
Class T	5.25%
Class B	5.25%
Class C	5.25%
Fidelity Advisor Freedom 2020 Fund
Class A	3.96%
Class T	3.96%
Class B	3.96%
Class C	3.96%
Fidelity Advisor Freedom 2025 Fund
Class A	3.16%
Class T	3.16%
Class B	3.16%
Class C	3.16%
Fidelity Advisor Freedom 2030 Fund
Class A	2.15%
Class T	2.15%
Class B	2.15%
Class C	2.15%
Fidelity Advisor Freedom 2035 Fund
Class A	1.48%
Class T	1.48%
Class B	1.48%
Class C	1.48%
Fidelity Advisor Freedom 2040 Fund
Class A	1.03%
Class T	1.03%
Class B	1.03%
Class C	1.03%
Fidelity Advisor Freedom 2045 Fund
Class A	0.74%
Class T	0.74%
Class B	0.74%
Class C	0.74%
Fidelity Advisor Freedom 2050 Fund
Class A	0.09%
Class T	0.09%
Class B	0.09%
Class C	0.09%

A percentage of the dividends distributed during the fiscal year for the following funds qualify for the dividends-received deduction for corporate shareholders:

	Class A	Class T	Class B	Class C
Fidelity Advisor Freedom Income Fund
May 2009	4%	5%	6%	6%
June 2009	8%	9%	14%	13%
July 2009	8%	9%	12%	17%
August 2009	8%	9%	12%	12%
September 2009	8%	9%	14%	14%
October 2009	8%	9%	14%	14%
November 2009	8%	9%	12%	12%
December 2009 (Ex-Date 12/04/09)	8%	9%	12%	12%
December 2009 (Ex-Date 12/28/09)	9%	9%	9%	9%
February 2010	4%	6%	12%	12%
March 2010	4%	5%	11%	11%
Fidelity Advisor Freedom 2005 Fund
May 2009	4%	4%	7%	7%
December 2009	15%	16%	21%	20%
Fidelity Advisor Freedom 2010 Fund
May 2009	2%	2%	3%	3%
December 2009	15%	17%	20%	20%
Fidelity Advisor Freedom 2015 Fund
May 2009	2%	2%	3%	3%
December 2009	16%	18%	21%	21%
Fidelity Advisor Freedom 2020 Fund
May 2009	2%	3%	5%	5%
December 2009	20%	22%	27%	26%
Fidelity Advisor Freedom 2025 Fund
May 2009	3%	4%	7%	7%
December 2009	23%	25%	30%	29%
Fidelity Advisor Freedom 2030 Fund
May 2009	9%	11%	41%	33%
December 2009	27%	29%	36%	35%
Fidelity Advisor Freedom 2035 Fund
May 2009	6%	9%	35%	26%
December 2009	29%	32%	40%	39%
Fidelity Advisor Freedom 2040 Fund
May 2009	6%	8%	26%	26%
December 2009	30%	33%	41%	40%
Fidelity Advisor Freedom 2045 Fund
May 2009	8%	10%	35%	26%
December 2009	30%	33%	40%	39%
Fidelity Advisor Freedom 2050 Fund
May 2009	10%	14%	-%	-%
December 2009	31%	34%	41%	42%

A percentage of the dividends distributed during the fiscal year for the following funds may be taken into account as a dividend for purposes of the maximum rate under section 1(h)(11) of the Internal Revenue Code.

	Class A	Class T	Class B	Class C
Fidelity Advisor Freedom Income Fund
May 2009	5%	5%	7%	7%
June 2009	9%	10%	15%	14%
July 2009	9%	10%	14%	19%
August 2009	9%	10%	13%	13%
September 2009	9%	10%	15%	15%
October 2009	9%	10%	15%	15%
November 2009	9%	10%	14%	14%
December 2009 (Ex-Date 12/04/09)	9%	10%	13%	13%
December 2009 (Ex-Date 12/28/09)	10%	10%	10%	10%
February 2010	5%	6%	12%	12%
March 2010	5%	6%	11%	11%
Fidelity Advisor Freedom 2005 Fund
May 2009	5%	5%	9%	8%
December 2009	21%	23%	29%	28%
Fidelity Advisor Freedom 2010 Fund
May 2009	5%	5%	9%	8%
December 2009	23%	25%	30%	29%
Fidelity Advisor Freedom 2015 Fund
May 2009	5%	6%	9%	9%
December 2009	24%	26%	31%	31%
Fidelity Advisor Freedom 2020 Fund
May 2009	7%	9%	15%	15%
December 2009	30%	33%	39%	39%
Fidelity Advisor Freedom 2025 Fund
May 2009	8%	10%	19%	17%
December 2009	34%	37%	44%	43%
Fidelity Advisor Freedom 2030 Fund
May 2009	13%	16%	58%	47%
December 2009	40%	44%	54%	53%
Fidelity Advisor Freedom 2035 Fund
May 2009	14%	20%	77%	58%
December 2009	43%	47%	58%	57%
Fidelity Advisor Freedom 2040 Fund
May 2009	14%	18%	60%	60%
December 2009	44%	48%	59%	59%
Fidelity Advisor Freedom 2045 Fund
May 2009	15%	19%	67%	51%
December 2009	44%	48%	59%	57%
Fidelity Advisor Freedom 2050 Fund
May 2009	20%	29%	-%	-%
December 2009	48%	52%	64%	64%

The funds will notify shareholders in January 2011 of amounts for use in preparing 2010 income tax returns.

Annual Report

Proxy Voting Results

A special meeting of each fund's shareholders was held on August 14, 2009. The results of votes taken among shareholders on the proposal before them are reported below. Each vote reported represents one dollar of net asset value held on the record date for the meeting.

PROPOSAL 1
To elect a Board of Trustees ^A
	# of Votes	% of Votes
James C. Curvey
Affirmative	24,643,083,056.59	94.466
Withheld	1,443,637,207.24	5.534
TOTAL	26,086,720,263.83	100.000
Albert R. Gamper, Jr.
Affirmative	24,678,393,003.04	94.601
Withheld	1,408,327,260.79	5.399
TOTAL	26,086,720,263.83	100.000
Abigail P. Johnson
Affirmative	24,649,778,053.86	94.492
Withheld	1,436,942,209.97	5.508
TOTAL	26,086,720,263.83	100.000
Arthur E. Johnson
Affirmative	24,657,479,001.20	94.521
Withheld	1,429,241,262.63	5.479
TOTAL	26,086,720,263.83	100.000
Michael E. Kenneally
Affirmative	24,733,028,000.40	94.811
Withheld	1,353,692,263.43	5.189
TOTAL	26,086,720,263.83	100.000
James H. Keyes
Affirmative	24,701,338,835.40	94.689
Withheld	1,385,381,428.43	5.311
TOTAL	26,086,720,263.83	100.000
Marie L. Knowles
Affirmative	24,607,022,984.88	94.328
Withheld	1,479,697,278.95	5.672
TOTAL	26,086,720,263.83	100.000
Kenneth L. Wolfe
Affirmative	24,549,568,568.96	94.108
Withheld	1,537,151,694.87	5.892
TOTAL	26,086,720,263.83	100.000
^A Denotes trust-wide proposal and voting results.

Annual Report

Investment Adviser

Strategic Advisers, Inc.

Boston, MA

General Distributor

Fidelity Distributors Corporation

Boston, MA

Transfer and Service Agents

Fidelity Investments Institutional Operations Company, Inc.

Boston, MA

Fidelity Service Company, Inc.

Boston, MA

Custodian

The Bank of New York Mellon

New York, NY

AFF-UANN-0510
1.792134.106

fid415

Fidelity Advisor Freedom Funds®-
Income, 2005, 2010, 2015, 2020, 2025, 2030,
2035, 2040, 2045, 2050 - Institutional Class

Annual Report

March 31, 2010

(2_fidelity_logos) (Registered_Trademark)

Chairman's Message	<Click Here>	The Chairman's message to shareholders.
Performance	<Click Here>	How the fund has done over time.
Management's Discussion	<Click Here>	The manager's review of fund performance, strategy and outlook.
Shareholder Expense Example	<Click Here>	An example of shareholder expenses.
Fidelity Advisor Freedom Income Fund	<Click Here> <Click Here> <Click Here>	Investment Changes Investments Financial Statements
Fidelity Advisor Freedom 2005 Fund	<Click Here> <Click Here> <Click Here>	Investment Changes Investments Financial Statements
Fidelity Advisor Freedom 2010 Fund	<Click Here> <Click Here> <Click Here>	Investment Changes Investments Financial Statements
Fidelity Advisor Freedom 2015 Fund	<Click Here> <Click Here> <Click Here>	Investment Changes Investments Financial Statements
Fidelity Advisor Freedom 2020 Fund	<Click Here> <Click Here> <Click Here>	Investment Changes Investments Financial Statements
Fidelity Advisor Freedom 2025 Fund	<Click Here> <Click Here> <Click Here>	Investment Changes Investments Financial Statements
Fidelity Advisor Freedom 2030 Fund	<Click Here> <Click Here> <Click Here>	Investment Changes Investments Financial Statements
Fidelity Advisor Freedom 2035 Fund	<Click Here> <Click Here> <Click Here>	Investment Changes Investments Financial Statements
Fidelity Advisor Freedom 2040 Fund	<Click Here> <Click Here> <Click Here>	Investment Changes Investments Financial Statements
Fidelity Advisor Freedom 2045 Fund	<Click Here> <Click Here> <Click Here>	Investment Changes Investments Financial Statements
Fidelity Advisor Freedom 2050 Fund	<Click Here> <Click Here> <Click Here>	Investment Changes Investments Financial Statements
Notes	<Click Here>	Notes to the financial statements.
Report of Independent Registered Public Accounting Firm	<Click Here>
Trustees and Officers	<Click Here>
Distributions	<Click Here>
Proxy Voting Results	<Click Here>

Annual Report

Standard & Poor's, S&P and S&P 500 are registered service marks of The McGraw-Hill Companies, Inc. and have been licensed for use by Fidelity Distributors Corporation.

Other third party marks appearing herein are the property of their respective owners.

All other marks appearing herein are registered or unregistered trademarks or service marks of FMR LLC or an affiliated company.

NOT FDIC INSURED • MAY LOSE VALUE • NO BANK GUARANTEE

Neither the funds nor Fidelity Distributors Corporation is a bank.

Annual Report

Chairman's Message

(photo_of_Abigail_P_Johnson)

Dear Shareholder:

We invite you to contact us via the Internet, through our Investor Centers or by phone. It is our privilege to provide you the information you need to make the investments that are right for you.

Sincerely,

(The chairman's signature appears here.)

Abigail P. Johnson

Annual Report

Fidelity Advisor Freedom Income Fund® - Institutional Class

Performance: The Bottom Line

Average Annual Total Returns

Periods ended March 31, 2010	Past 1 year	Past 5 years	Life of fund^A
Institutional Class	22.16%	4.13%	4.04%

^AFrom July 24, 2003.

$10,000 Over Life of Fund

Let's say hypothetically that $10,000 was invested in Fidelity Advisor Freedom Income Fund® - Institutional Class on July 24, 2003, when the fund started. The chart shows how the value of your investment would have changed, and also shows how the Barclays Capital U.S. Aggregate Bond Index performed over the same period.

fid459

Annual Report

Fidelity Advisor Freedom 2005 Fund ® - Institutional Class

Performance: The Bottom Line

Average Annual Total Returns

Periods ended March 31, 2010	Past 1 year	Past 5 years	Life of fund^A
Institutional Class	34.28%	3.75%	4.23%

^AFrom November 6, 2003.

$10,000 Over Life of Fund

Let's say hypothetically that $10,000 was invested in Fidelity Advisor Freedom 2005 Fund® - Institutional Class on November 6, 2003, when the fund started. The chart shows how the value of your investment would have changed, and also shows how the Barclays Capital U.S. Aggregate Bond Index performed over the same period.

fid461

Annual Report

Fidelity Advisor Freedom 2010 Fund ® - Institutional Class

Performance: The Bottom Line

Average Annual Total Returns

Periods ended March 31, 2010	Past 1 year	Past 5 years	Life of fund^A
Institutional Class	36.80%	3.79%	4.73%

^AFrom July 24, 2003.

$10,000 Over Life of Fund

Let's say hypothetically that $10,000 was invested in Fidelity Advisor Freedom 2010 Fund® - Institutional Class on July 24, 2003, when the fund started. The chart shows how the value of your investment would have changed, and also shows how the Barclays Capital U.S. Aggregate Bond Index performed over the same period.

fid463

Annual Report

Fidelity Advisor Freedom 2015 Fund ® - Institutional Class

Performance: The Bottom Line

Average Annual Total Returns

Periods ended March 31, 2010	Past 1 year	Past 5 years	Life of fund^A
Institutional Class	38.30%	3.99%	4.68%

^AFrom November 6, 2003.

$10,000 Over Life of Fund

Let's say hypothetically that $10,000 was invested in Fidelity Advisor Freedom 2015 Fund® - Institutional Class on November 6, 2003, when the fund started. The chart shows how the value of your investment would have changed, and also shows how the S&P 500® Index performed over the same period.

fid465

Annual Report

Fidelity Advisor Freedom 2020 Fund ® - Institutional Class

Performance: The Bottom Line

Average Annual Total Returns

Periods ended March 31, 2010	Past 1 year	Past 5 years	Life of fund^A
Institutional Class	44.65%	3.47%	5.24%

^AFrom July 24, 2003.

$10,000 Over Life of Fund

Let's say hypothetically that $10,000 was invested in Fidelity Advisor Freedom 2020 Fund® - Institutional Class on July 24, 2003, when the fund started. The chart shows how the value of your investment would have changed, and also shows how the S&P 500 Index performed over the same period.

fid467

Annual Report

Fidelity Advisor Freedom 2025 Fund ® - Institutional Class

Performance: The Bottom Line

Average Annual Total Returns

Periods ended March 31, 2010	Past 1 year	Past 5 years	Life of fund^A
Institutional Class	47.31%	3.42%	4.49%

^AFrom November 6, 2003.

$10,000 Over Life of Fund

Let's say hypothetically that $10,000 was invested in Fidelity Advisor Freedom 2025 Fund® - Institutional Class on November 6, 2003, when the fund started. The chart shows how the value of your investment would have changed, and also shows how the S&P 500 Index performed over the same period.

fid469

Annual Report

Fidelity Advisor Freedom 2030 Fund ® - Institutional Class

Performance: The Bottom Line

Average Annual Total Returns

Periods ended March 31, 2010	Past 1 year	Past 5 years	Life of fund^A
Institutional Class	50.42%	2.84%	5.07%

^AFrom July 24, 2003.

$10,000 Over Life of Fund

Let's say hypothetically that $10,000 was invested in Fidelity Advisor Freedom 2030 Fund® - Institutional Class on July 24, 2003, when the fund started. The chart shows how the value of your investment would have changed, and also shows how the S&P 500 Index performed over the same period.

fid471

Annual Report

Fidelity Advisor Freedom 2035 Fund ® - Institutional Class

Performance: The Bottom Line

Average Annual Total Returns

Periods ended March 31, 2010	Past 1 year	Past 5 years	Life of fund^A
Institutional Class	51.81%	2.78%	4.16%

^AFrom November 6, 2003.

$10,000 Over Life of Fund

Let's say hypothetically that $10,000 was invested in Fidelity Advisor Freedom 2035 Fund® - Institutional Class on November 6, 2003, when the fund started. The chart shows how the value of your investment would have changed, and also shows how the S&P 500 Index performed over the same period.

fid473

Annual Report

Fidelity Advisor Freedom 2040 Fund® - Institutional Class

Performance: The Bottom Line

Average Annual Total Returns

Periods ended March 31, 2010	Past 1 year	Past 5 years	Life of fund^A
Institutional Class	53.53%	2.67%	5.23%

^AFrom July 24, 2003.

$10,000 Over Life of Fund

Let's say hypothetically that $10,000 was invested in Fidelity Advisor Freedom 2040 Fund® - Institutional Class on July 24, 2003, when the fund started. The chart shows how the value of your investment would have changed, and also shows how the S&P 500 Index performed over the same period.

fid475

Annual Report

Fidelity Advisor Freedom 2045 Fund® - Institutional Class

Performance: The Bottom Line

Average Annual Total Returns

Periods ended March 31, 2010		Past 1 year	Life of fund^A
Institutional Class		54.35%	-0.41%

^AFrom June 1, 2006.

$10,000 Over Life of Fund

Let's say hypothetically that $10,000 was invested in Fidelity Advisor Freedom 2045 Fund® - Institutional Class on June 1, 2006, when the fund started. The chart shows how the value of your investment would have changed, and also shows how the S&P 500 Index performed over the same period.

fid477

Annual Report

Fidelity Advisor Freedom 2050 Fund® - Institutional Class

Performance: The Bottom Line

Average Annual Total Returns

Periods ended March 31, 2010	Past 1 year	Life of fund^A
Institutional Class	56.66%	-0.67%

^AFrom June 1, 2006.

$10,000 Over Life of Fund

Let's say hypothetically that $10,000 was invested in Fidelity Advisor Freedom 2050 Fund® - Institutional Class on June 1, 2006, when the fund started. The chart shows how the value of your investment would have changed, and also shows how the S&P 500 Index performed over the same period.

fid479

Annual Report

Management's Discussion of Fund Performance

Annual Report

Shareholder Expense Example

The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (October 1, 2009 to March 31, 2010).

Actual Expenses

Hypothetical Example for Comparison Purposes

	Annualized Expense Ratio	Beginning Account Value October 1, 2009	Ending Account Value March 31, 2010	Expenses Paid During Period* October 1, 2009 to March 31, 2010
Advisor Freedom Income
Class A	.25%
Actual		$ 1,000.00	$ 1,044.30	$ 1.27
Hypothetical ^A		$ 1,000.00	$ 1,023.68	$ 1.26
Class T	.50%
Actual		$ 1,000.00	$ 1,043.00	$ 2.55
Hypothetical ^A		$ 1,000.00	$ 1,022.44	$ 2.52
Class B	1.00%
Actual		$ 1,000.00	$ 1,039.30	$ 5.08
Hypothetical ^A		$ 1,000.00	$ 1,019.95	$ 5.04
Class C	1.00%
Actual		$ 1,000.00	$ 1,039.30	$ 5.08
Hypothetical ^A		$ 1,000.00	$ 1,019.95	$ 5.04
Institutional Class	.00%
Actual		$ 1,000.00	$ 1,045.60	$ .00
Hypothetical ^A		$ 1,000.00	$ 1,024.93	$ .00
Advisor Freedom 2005
Class A	.25%
Actual		$ 1,000.00	$ 1,061.40	$ 1.28
Hypothetical ^A		$ 1,000.00	$ 1,023.68	$ 1.26
Class T	.50%
Actual		$ 1,000.00	$ 1,060.60	$ 2.57
Hypothetical ^A		$ 1,000.00	$ 1,022.44	$ 2.52
	Annualized Expense Ratio	Beginning Account Value October 1, 2009	Ending Account Value March 31, 2010	Expenses Paid During Period* October 1, 2009 to March 31, 2010
Class B	1.00%
Actual		$ 1,000.00	$ 1,058.30	$ 5.13
Hypothetical ^A		$ 1,000.00	$ 1,019.95	$ 5.04
Class C	1.00%
Actual		$ 1,000.00	$ 1,057.90	$ 5.13
Hypothetical ^A		$ 1,000.00	$ 1,019.95	$ 5.04
Institutional Class	.00%
Actual		$ 1,000.00	$ 1,063.70	$ .00
Hypothetical ^A		$ 1,000.00	$ 1,024.93	$ .00
Advisor Freedom 2010
Class A	.25%
Actual		$ 1,000.00	$ 1,066.70	$ 1.29
Hypothetical ^A		$ 1,000.00	$ 1,023.68	$ 1.26
Class T	.50%
Actual		$ 1,000.00	$ 1,065.00	$ 2.57
Hypothetical ^A		$ 1,000.00	$ 1,022.44	$ 2.52
Class B	1.00%
Actual		$ 1,000.00	$ 1,063.10	$ 5.14
Hypothetical ^A		$ 1,000.00	$ 1,019.95	$ 5.04
Class C	1.00%
Actual		$ 1,000.00	$ 1,062.60	$ 5.14
Hypothetical ^A		$ 1,000.00	$ 1,019.95	$ 5.04
Institutional Class	.00%
Actual		$ 1,000.00	$ 1,068.20	$ .00
Hypothetical ^A		$ 1,000.00	$ 1,024.93	$ .00
Advisor Freedom 2015
Class A	.25%
Actual		$ 1,000.00	$ 1,067.90	$ 1.29
Hypothetical ^A		$ 1,000.00	$ 1,023.68	$ 1.26
Class T	.50%
Actual		$ 1,000.00	$ 1,067.00	$ 2.58
Hypothetical ^A		$ 1,000.00	$ 1,022.44	$ 2.52
Class B	1.00%
Actual		$ 1,000.00	$ 1,064.60	$ 5.15
Hypothetical ^A		$ 1,000.00	$ 1,019.95	$ 5.04
Class C	1.00%
Actual		$ 1,000.00	$ 1,064.80	$ 5.15
Hypothetical ^A		$ 1,000.00	$ 1,019.95	$ 5.04
Institutional Class	.00%
Actual		$ 1,000.00	$ 1,069.20	$ .00
Hypothetical ^A		$ 1,000.00	$ 1,024.93	$ .00
Advisor Freedom 2020
Class A	.25%
Actual		$ 1,000.00	$ 1,077.70	$ 1.30
Hypothetical ^A		$ 1,000.00	$ 1,023.68	$ 1.26
Class T	.50%
Actual		$ 1,000.00	$ 1,075.70	$ 2.59
Hypothetical ^A		$ 1,000.00	$ 1,022.44	$ 2.52
	Annualized Expense Ratio	Beginning Account Value October 1, 2009	Ending Account Value March 31, 2010	Expenses Paid During Period* October 1, 2009 to March 31, 2010
Class B	1.00%
Actual		$ 1,000.00	$ 1,074.30	$ 5.17
Hypothetical ^A		$ 1,000.00	$ 1,019.95	$ 5.04
Class C	1.00%
Actual		$ 1,000.00	$ 1,073.90	$ 5.17
Hypothetical ^A		$ 1,000.00	$ 1,019.95	$ 5.04
Institutional Class	.00%
Actual		$ 1,000.00	$ 1,079.00	$ .00
Hypothetical ^A		$ 1,000.00	$ 1,024.93	$ .00
Advisor Freedom 2025
Class A	.25%
Actual		$ 1,000.00	$ 1,082.50	$ 1.30
Hypothetical ^A		$ 1,000.00	$ 1,023.68	$ 1.26
Class T	.50%
Actual		$ 1,000.00	$ 1,081.40	$ 2.59
Hypothetical ^A		$ 1,000.00	$ 1,022.44	$ 2.52
Class B	1.00%
Actual		$ 1,000.00	$ 1,079.40	$ 5.18
Hypothetical ^A		$ 1,000.00	$ 1,019.95	$ 5.04
Class C	1.00%
Actual		$ 1,000.00	$ 1,078.90	$ 5.18
Hypothetical ^A		$ 1,000.00	$ 1,019.95	$ 5.04
Institutional Class	.00%
Actual		$ 1,000.00	$ 1,084.60	$ .00
Hypothetical ^A		$ 1,000.00	$ 1,024.93	$ .00
Advisor Freedom 2030
Class A	.25%
Actual		$ 1,000.00	$ 1,087.10	$ 1.30
Hypothetical ^A		$ 1,000.00	$ 1,023.68	$ 1.26
Class T	.50%
Actual		$ 1,000.00	$ 1,085.50	$ 2.60
Hypothetical ^A		$ 1,000.00	$ 1,022.44	$ 2.52
Class B	1.00%
Actual		$ 1,000.00	$ 1,083.10	$ 5.19
Hypothetical ^A		$ 1,000.00	$ 1,019.95	$ 5.04
Class C	1.00%
Actual		$ 1,000.00	$ 1,082.50	$ 5.19
Hypothetical ^A		$ 1,000.00	$ 1,019.95	$ 5.04
Institutional Class	.00%
Actual		$ 1,000.00	$ 1,088.40	$ .00
Hypothetical ^A		$ 1,000.00	$ 1,024.93	$ .00
Advisor Freedom 2035
Class A	.25%
Actual		$ 1,000.00	$ 1,090.50	$ 1.30
Hypothetical ^A		$ 1,000.00	$ 1,023.68	$ 1.26
Class T	.50%
Actual		$ 1,000.00	$ 1,089.10	$ 2.60
Hypothetical ^A		$ 1,000.00	$ 1,022.44	$ 2.52
	Annualized Expense Ratio	Beginning Account Value October 1, 2009	Ending Account Value March 31, 2010	Expenses Paid During Period* October 1, 2009 to March 31, 2010
Class B	1.00%
Actual		$ 1,000.00	$ 1,086.10	$ 5.20
Hypothetical ^A		$ 1,000.00	$ 1,019.95	$ 5.04
Class C	1.00%
Actual		$ 1,000.00	$ 1,085.30	$ 5.20
Hypothetical ^A		$ 1,000.00	$ 1,019.95	$ 5.04
Institutional Class	.00%
Actual		$ 1,000.00	$ 1,091.70	$ .00
Hypothetical ^A		$ 1,000.00	$ 1,024.93	$ .00
Advisor Freedom 2040
Class A	.25%
Actual		$ 1,000.00	$ 1,091.30	$ 1.30
Hypothetical ^A		$ 1,000.00	$ 1,023.68	$ 1.26
Class T	.50%
Actual		$ 1,000.00	$ 1,090.70	$ 2.61
Hypothetical ^A		$ 1,000.00	$ 1,022.44	$ 2.52
Class B	1.00%
Actual		$ 1,000.00	$ 1,087.60	$ 5.20
Hypothetical ^A		$ 1,000.00	$ 1,019.95	$ 5.04
Class C	1.00%
Actual		$ 1,000.00	$ 1,087.90	$ 5.21
Hypothetical ^A		$ 1,000.00	$ 1,019.95	$ 5.04
Institutional Class	.00%
Actual		$ 1,000.00	$ 1,093.50	$ .00
Hypothetical ^A		$ 1,000.00	$ 1,024.93	$ .00
Advisor Freedom 2045
Class A	.25%
Actual		$ 1,000.00	$ 1,092.90	$ 1.30
Hypothetical ^A		$ 1,000.00	$ 1,023.68	$ 1.26
Class T	.50%
Actual		$ 1,000.00	$ 1,091.50	$ 2.61
Hypothetical ^A		$ 1,000.00	$ 1,022.44	$ 2.52
Class B	1.00%
Actual		$ 1,000.00	$ 1,089.40	$ 5.21
Hypothetical ^A		$ 1,000.00	$ 1,019.95	$ 5.04
Class C	1.00%
Actual		$ 1,000.00	$ 1,088.60	$ 5.21
Hypothetical ^A		$ 1,000.00	$ 1,019.95	$ 5.04
Institutional Class	.00%
Actual		$ 1,000.00	$ 1,095.40	$ .00
Hypothetical ^A		$ 1,000.00	$ 1,024.93	$ .00
Advisor Freedom 2050
Class A	.25%
Actual		$ 1,000.00	$ 1,093.90	$ 1.31
Hypothetical ^A		$ 1,000.00	$ 1,023.68	$ 1.26
Class T	.50%
Actual		$ 1,000.00	$ 1,092.60	$ 2.61
Hypothetical ^A		$ 1,000.00	$ 1,022.44	$ 2.52
	Annualized Expense Ratio	Beginning Account Value October 1, 2009	Ending Account Value March 31, 2010	Expenses Paid During Period* October 1, 2009 to March 31, 2010
Class B	1.00%
Actual		$ 1,000.00	$ 1,090.80	$ 5.21
Hypothetical ^A		$ 1,000.00	$ 1,019.95	$ 5.04
Class C	1.00%
Actual		$ 1,000.00	$ 1,090.50	$ 5.21
Hypothetical ^A		$ 1,000.00	$ 1,019.95	$ 5.04
Institutional Class	.00%
Actual		$ 1,000.00	$ 1,096.40	$ .00
Hypothetical ^A		$ 1,000.00	$ 1,024.93	$ .00

^A 5% return per year before expenses

Annual Report

Fidelity Advisor Freedom Income Fund

Investment Changes (Unaudited)

Fund Holdings as of March 31, 2010
	% of fund's net assets	% of fund's net assets 6 months ago
Commodity Funds
Fidelity Series Commodity Strategy Fund	0.7	0.0
Domestic Equity Funds
Fidelity Advisor Equity Growth Fund Institutional Class	1.8	2.1
Fidelity Advisor Equity Income Fund Institutional Class	1.5	2.7
Fidelity Advisor Growth & Income Fund Institutional Class	2.7	3.3
Fidelity Advisor Large Cap Fund Institutional Class	2.5	3.0
Fidelity Advisor Small Cap Fund Institutional Class	0.8	1.0
Fidelity Series 100 Index Fund	1.7	1.6
Fidelity Series All-Sector Equity Fund	3.5	4.1
Fidelity Series Large Cap Value Fund	2.1	1.7
Fidelity Series Small Cap Opportunities Fund	0.9	1.0
	17.5	20.5
Developed International Equity Funds
Fidelity Advisor Diversified International Fund Institutional Class	0.8	0.0
Fidelity Advisor Overseas Fund Institutional Class	0.8	0.0
Fidelity Series International Growth Fund	0.2	0.0
Fidelity Series International Small Cap Fund	0.0*	0.0
Fidelity Series International Value Fund	0.2	0.0
	2.0	0.0
Emerging Markets Equity Funds
Fidelity Series Emerging Markets Fund	0.2	0.0
High Yield Bond Funds
Fidelity Advisor High Income Advantage Fund Institutional Class	5.1	5.4
Inflation-Protected Bond Funds
Fidelity Series Inflation-Protected Bond Index Fund	4.8	0.5
Investment Grade Bond Funds
Fidelity Advisor Strategic Real Return Fund Institutional Class	5.4	6.8
Fidelity Advisor Total Bond Fund Institutional Class	2.2	7.6
Fidelity Series Investment Grade Bond Fund	22.5	22.1
	30.1	36.5
Short-Term Funds
Fidelity Advisor Short Fixed-Income Fund Institutional Class	19.8	18.8
Fidelity Institutional Money Market Portfolio Institutional Class	19.8	18.3
	39.6	37.1
	100.0	100.0

* Amount represents less than 0.1%

Asset Allocation (% of fund's net assets)
Current
	Commodity Funds	0.7%
	Domestic Equity Funds	17.5%
	Developed International Equity Funds	2.0%
	Emerging Markets Equity Funds	0.2%
	High Yield Bond Funds	5.1%
	Inflation-Protected Bond Funds	4.8%
	Investment Grade Bond Funds	30.1%
	Short-Term Funds	39.6%

fid122

Six months ago
	Domestic Equity Funds	20.5%
	High Yield Bond Funds	5.4%
	Inflation-Protected Bond Funds	0.5%
	Investment Grade Bond Funds	36.5%
	Short-Term Funds	37.1%

fid129

Expected
	Commodity Funds	1.7%
	Domestic Equity Funds	13.7%
	Developed International Equity Funds	4.0%
	Emerging Markets Equity Funds	0.6%
	High Yield Bond Funds	5.0%
	Inflation-Protected Bond Funds	10.3%
	Investment Grade Bond Funds	24.7%
	Short-Term Funds	40.0%

fid139

Annual Report

Fidelity Advisor Freedom Income Fund

Investments March 31, 2010

Showing Percentage of Net Assets

Domestic Equity Funds - 18.2%
	Shares		Value
Commodity Funds - 0.7%
Fidelity Series Commodity Strategy Fund	158,891		$ 1,665,180
Domestic Equity Funds - 17.5%
Fidelity Advisor Equity Growth Fund Institutional Class (a)	83,809		4,151,918
Fidelity Advisor Equity Income Fund Institutional Class	153,018		3,413,829
Fidelity Advisor Growth & Income Fund Institutional Class	391,142		6,223,070
Fidelity Advisor Large Cap Fund Institutional Class	346,587		5,975,157
Fidelity Advisor Small Cap Fund Institutional Class (a)	79,730		1,896,779
Fidelity Series 100 Index Fund	468,327		3,882,430
Fidelity Series All-Sector Equity Fund	677,608		8,144,854
Fidelity Series Large Cap Value Fund	418,950		4,972,936
Fidelity Series Small Cap Opportunities Fund (a)	230,639		2,057,302
TOTAL DOMESTIC EQUITY FUNDS			40,718,275
TOTAL DOMESTIC EQUITY FUNDS (Cost $40,066,032)		42,383,455
International Equity Funds - 2.2%

Developed International Equity Funds - 2.0%
Fidelity Advisor Diversified International Fund Institutional Class	119,316		1,806,445
Fidelity Advisor Overseas Fund Institutional Class	108,045		1,812,993
Fidelity Series International Growth Fund	44,179		439,141
Fidelity Series International Small Cap Fund	9,519		97,383
Fidelity Series International Value Fund	45,361		438,189
TOTAL DEVELOPED INTERNATIONAL EQUITY FUNDS			4,594,151
Emerging Markets Equity Funds - 0.2%
Fidelity Series Emerging Markets Fund	36,862		617,809
TOTAL INTERNATIONAL EQUITY FUNDS (Cost $5,006,075)		5,211,960
Bond Funds - 40.0%
	Shares		Value
High Yield Bond Funds - 5.1%
Fidelity Advisor High Income Advantage Fund Institutional Class	1,320,969		$ 11,862,298
Inflation-Protected Bond Funds - 4.8%
Fidelity Series Inflation-Protected Bond Index Fund	1,079,910		11,079,874
Investment Grade Bond Funds - 30.1%
Fidelity Advisor Strategic Real Return Fund Institutional Class	1,453,432		12,572,188
Fidelity Advisor Total Bond Fund Institutional Class	475,233		5,051,730
Fidelity Series Investment Grade Bond Fund	4,588,207		52,489,084
TOTAL INVESTMENT GRADE BOND FUNDS			70,113,002
TOTAL BOND FUNDS (Cost $90,353,320)		93,055,174
Short-Term Funds - 39.6%

Fidelity Advisor Short Fixed-Income Fund Institutional Class	5,064,579		46,188,960
Fidelity Institutional Money Market Portfolio Institutional Class	46,112,457		46,112,457
TOTAL SHORT-TERM FUNDS (Cost $92,775,876)		92,301,417
TOTAL INVESTMENT PORTFOLIO - 100.0% (Cost $228,201,303)			232,952,006
NET OTHER ASSETS - 0.0%			(59,659)
NET ASSETS - 100%		$ 232,892,347

Legend

(a) Non-income producing

Other Information

Income Tax Information

At March 31, 2010, the fund had a capital loss carryforward of approximately $2,021,981 all of which will expire on March 31, 2017.

See accompanying notes which are an integral part of the financial statements.

Annual Report

Fidelity Advisor Freedom Income Fund

Financial Statements

Statement of Assets and Liabilities

	March 31, 2010
Assets
Investment in securities, at value (cost $228,201,303) - See accompanying schedule		$ 232,952,006
Receivable for investments sold		307,439
Receivable for fund shares sold		396,564
Total assets		233,656,009

Liabilities
Payable for investments purchased	$ 36,405
Payable for fund shares redeemed	659,195
Distribution fees payable	68,062
Total liabilities		763,662

Net Assets		$ 232,892,347
Net Assets consist of:
Paid in capital		$ 232,879,862
Undistributed net investment income		298,355
Accumulated undistributed net realized gain (loss) on investments		(5,036,573)
Net unrealized appreciation (depreciation) on investments		4,750,703
Net Assets		$ 232,892,347

Calculation of Maximum Offering Price Class A: Net Asset Value and redemption price per share ($142,691,335 ÷ 13,789,793 shares)		$ 10.35

Maximum offering price per share (100/94.25 of $10.35)		$ 10.98
Class T: Net Asset Value and redemption price per share ($52,046,674 ÷ 5,033,292 shares)		$ 10.34

Maximum offering price per share (100/96.50 of $10.34)		$ 10.72
Class B: Net Asset Value and offering price per share ($5,319,345 ÷ 514,746 shares)^A		$ 10.33

Class C: Net Asset Value and offering price per share ($14,697,499 ÷ 1,422,415 shares)^A		$ 10.33

Institutional Class: Net Asset Value, offering price and redemption price per share ($18,137,494 ÷ 1,749,577 shares)		$ 10.37

^A Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge.

Statement of Operations

	Year ended March 31, 2010
Investment Income
Income distributions from underlying funds		$ 4,900,431

Expenses
Distribution fees	$ 727,017
Independent trustees' compensation	665
Total expenses before reductions	727,682
Expense reductions	(665)	727,017
Net investment income (loss)		4,173,414
Realized and Unrealized Gain (Loss) Realized gain (loss) on sale of underlying fund shares	884,619
Capital gain distributions from underlying funds	1,510,363	2,394,982
Change in net unrealized appreciation (depreciation) on underlying funds		30,437,609
Net gain (loss)		32,832,591
Net increase (decrease) in net assets resulting from operations		$ 37,006,005

See accompanying notes which are an integral part of the financial statements.

Annual Report

Statement of Changes in Net Assets

	Year ended March 31, 2010	Year ended March 31, 2009
Increase (Decrease) in Net Assets
Operations
Net investment income (loss)	$ 4,173,414	$ 4,836,274
Net realized gain (loss)	2,394,982	(4,563,832)
Change in net unrealized appreciation (depreciation)	30,437,609	(24,059,265)
Net increase (decrease) in net assets resulting from operations	37,006,005	(23,786,823)
Distributions to shareholders from net investment income	(4,185,152)	(4,951,780)
Distributions to shareholders from net realized gain	(1,201,062)	(1,910,005)
Total distributions	(5,386,214)	(6,861,785)
Share transactions - net increase (decrease)	40,627,765	29,566,421
Total increase (decrease) in net assets	72,247,556	(1,082,187)

Net Assets
Beginning of period	160,644,791	161,726,978
End of period (including undistributed net investment income of $298,355 and undistributed net investment income of $310,093, respectively)	$ 232,892,347	$ 160,644,791

Financial Highlights - Class A

Years ended March 31,	2010	2009	2008	2007	2006
Selected Per-Share Data
Net asset value, beginning of period	$ 8.74	$ 10.46	$ 10.74	$ 10.52	$ 10.30
Income from Investment Operations
Net investment income (loss) ^C	.22	.29	.40	.36	.29
Net realized and unrealized gain (loss)	1.66	(1.60)	(.21)	.29	.23
Total from investment operations	1.88	(1.31)	.19	.65	.52
Distributions from net investment income	(.22)	(.30)	(.40)	(.35)	(.27)
Distributions from net realized gain	(.06)	(.11)	(.07)	(.08)	(.04)
Total distributions	(.27)^H	(.41)	(.47)^G	(.43)	(.30)^F
Net asset value, end of period	$ 10.35	$ 8.74	$ 10.46	$ 10.74	$ 10.52
Total Return^A,B	21.74%	(12.78)%	1.73%	6.38%	5.12%
Ratios to Average Net Assets^D,E
Expenses before reductions	.25%	.25%	.25%	.25%	.26%
Expenses net of fee waivers, if any	.25%	.25%	.25%	.25%	.26%
Expenses net of all reductions	.25%	.25%	.25%	.25%	.26%
Net investment income (loss)	2.19%	3.03%	3.77%	3.46%	2.83%
Supplemental Data
Net assets, end of period (000 omitted)	$ 142,691	$ 93,865	$ 87,469	$ 49,721	$ 18,524
Portfolio turnover rate	31%	44%	56%	38%	21%