M&A - FIDELITY ABERDEEN STREET TRUST

Form Type: CORRESP

Filing Date: 2024-11-08

Corporate Action: Merger

Type: Update

Accession Number: 000088019524000688

Filing Summary: Fidelity Aberdeen Street Trust is filing an update regarding the proposed reorganization of multiple funds under its management, including Fidelity Freedom Blend and Fidelity Simplicity RMD funds. The document discusses comments received from the SEC about clarifications in the proxy statement/prospectus for the merger. Key topics covered include the handling of share classes during the reorganization, the rationale for exclusion of certain classes, the confirmation of merger-related costs, and the tax implications of the reorganization. The communication indicates there will be updates to various tables and disclosures to ensure clarity and compliance with SEC requests. Notably, the proposed transactions are characterized as a tax-free reorganization expected to benefit shareholders. The document also indicates that Fidelity is preparing proxy cards and will provide additional disclosures as requested by the SEC, aiming to ensure all shareholder inquiries and concerns are addressed before proceeding with the merger. Overall, the communication seeks to provide a comprehensive update on the organization's response to regulatory feedback and preparations for the fund merger.

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Form Type: CORRESP

Filing Date: 2024-11-07

Corporate Action: Merger

Type: Update

Accession Number: 000087846724000165

Filing Summary: This correspondence relates to the reorganization involving multiple Fidelity funds, specifically the Fidelity Simplicity RMD funds and the Fidelity Freedom Blend funds. The document outlines staff comments and the responses regarding the rationale for registering certain share classes, merger-related costs, and the implications for fund expenses post-reorganization. It confirms that FMR will handle various associated costs such as audit, legal, and state registration expenses. Acknowledgments about the expected tax implications of the reorganization are discussed, with an emphasis on maintaining tax-free status. Furthermore, revisions will be made based on staff requests concerning disclosures about fund comparisons, voting instructions for proxies, and updates on capitalization tables. The reorganization aims to encapsulate the overall performance and align the objectives of the respective funds, offering clarity and ensuring all shareholder interests are addressed comprehensively.

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Form Type: CORRESP

Filing Date: 2024-10-31

Corporate Action: Merger

Type: Update

Accession Number: 000002854024000085

Filing Summary: Fidelity Aberdeen Street Trust filed correspondence detailing the rationale and regulatory responses concerning the proposed reorganization involving multiple funds, including Fidelity Simplicity RMD Income Fund and Fidelity Freedom Blend funds. The correspondence addresses staff requests regarding disclosure related to operating expenses, merger-related costs, and fund objectives. Notably, it clarifies that certain share classes are not included in the proposed reorganizations, emphasized the handling of expected tax implications and capital gains at the closing of the reorganization, and confirmed that the estimated merger-related costs will be borne by the respective funds. Additionally, it outlined responses to staff comments aimed at improving the clarity and consistency of tables and footnotes related to fund operating expenses, capitalization details, and the rationale behind shareholder communications prior to the meeting.

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Form Type: N-14

Filing Date: 2024-10-01

Corporate Action: Merger

Type: New

Accession Number: 000113322824009245

Filing Summary: Fidelity Aberdeen Street Trust has submitted a registration statement for a planned merger involving multiple funds under its management. Specifically, Fidelity Simplicity RMD Income FundSM and its associated funds, which include Fidelity Simplicity RMD 2010 FundSM, Fidelity Simplicity RMD 2015 FundSM, Fidelity Simplicity RMD 2020 FundSM, Fidelity Simplicity RMD 2025 FundSM, and Fidelity Simplicity RMD 2030 FundSM, are set to undergo a Reorganization. This involves transferring all assets from these funds to their respective acquiring funds, namely Fidelity Freedom® Blend Income Fund and its variants. The proposed transactions aim to facilitate a complete liquidation of the transferring funds. Shareholder meetings are scheduled for December 19, 2024, to vote on these proposals, which, if approved, will result in shareholders acquiring shares of the respective Fidelity Freedom® funds. The transactions are slated for implementation on January 10, 2025, contingent upon shareholder approval.

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