Fund Description

The fund is a fund of funds that normally seeks about 80% exposure to equity securities and certain other instruments and about 20% to fixed-income securities, primarily through investments in underlying funds, including ETFs, and primarily affiliated open-end funds and affiliated ETFs. It uses equity, fixed-income, and multi-asset underlying funds that may invest in domestic and international equities (including emerging markets), real estate- and commodity-related instruments; and domestic and non-U.S. bonds, U.S. Government and mortgage-backed securities, high yield bonds, and cash or money market instruments. Allocation may vary from 90/10 to 70/30, and it may have indirect derivative exposure through underlying funds.