Commentary

Target date strategies: Navigating uncertainty with a long-term view

Fidelity’s target date portfolio managers share what is top of mind for the investment team and our clients.

By: Brett Sumsion Andrew Dierdorf Finola McGuire Foley Cait Dourney Earle Sarah O’Toole Lance McInerney

Updated: 4/13/2026

Key takeaways

Heightened uncertainty defines the Q2 2026 market backdrop as geopolitical tensions, inflation trends, and monetary policy continue to evolve and interact.
As multi-asset investment managers, our edge is understanding how asset class prices respond to the shifting economic and market landscape, enabling risk and opportunity management for target date investors.
Our long-term research supports a 60% U.S./40% non-U.S. strategic equity allocation as an appropriate balance between global diversification and the needs of U.S.-based target date investors.
Despite concerns of an AI-bubble in the markets, the larger story is its steady rollout into everyday business—reshaping jobs, productivity, and long-term inflation.

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Target date strategies: Navigating uncertainty with a long-term view

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