Fund Description

The fund, under normal circumstances, invests in a mix of equity and debt securities, allocating assets (including cash and cash equivalents) based on an assessment of relative risks and returns. It generally invests 35% to 65% of net assets in each asset class, and at least 25% and no more than 75% in each. Equity holdings focus primarily on large-cap companies (generally over $5 billion) and may use value-oriented strategies. Debt holdings focus on investment-grade securities, including U.S. government and corporate debt, mortgage- and asset-backed securities, and intermediate- to long-term maturities, with up to 10% in high-yield. It may invest up to 20% in foreign securities, use derivatives, trade TBAs and dollar rolls, and buy Rule 144A securities, with potential frequent trading and sector emphasis including information technology.