Fund Description

The fund is a fund of funds that generally allocates assets among mutual funds managed by the Advisor, but may also invest directly in securities. It is designed to provide broad equity exposure to U.S. and non-U.S. companies in developed and emerging markets, which may include frontier markets, primarily through U.S., international, and emerging markets core equity underlying funds, typically allocating 35%-80%, 15%-55%, and 5%-20%, respectively. Under normal circumstances, at least 80% of net assets are invested in equity securities. The approach emphasizes long-term expected return drivers while balancing risk through broad diversification across companies and sectors and managing trading costs, and may use futures, options, FX transactions, ETFs, money market funds, and securities lending.