The Fidelity Freedom Index 2040 Fund Premier Class (FPIPX) is a mutual fund that aims to provide investors with a diversified portfolio of stocks and bonds that align with a target retirement date of 2040. This fund is managed by Fidelity Investments and utilizes a passive investment strategy, tracking an index of stocks and bonds to achieve its investment objectives. The Premier Class designation indicates that this fund has a higher minimum investment requirement and may offer additional benefits or services to investors.