Fund Description

The fund seeks its objective by allocating between common stocks and fixed-income securities, investing substantially all assets in two other registered investment companies managed by Eaton Vance Management or its affiliates. Under normal conditions, it invests 50%-75% of net assets in equity securities through a Stock Portfolio and 25%-50% in fixed-income securities through a Core Bond Portfolio, and may also invest directly in both. Equity holdings are primarily common stocks across market capitalizations, including smaller companies. Fixed income may include corporate and U.S. Government securities, money market instruments, mortgage- and asset-backed securities, municipal, inflation-linked and hybrid debt, and floating-rate loans; below-investment-grade exposure is limited to 5% of total fixed income assets. It may invest up to 25% of total assets in foreign securities, including emerging markets and depositary receipts, may invest in exchange-traded funds (ETFs) to manage cash positions or seek exposure to certain markets or market sectors, invest in REITs, use sector rotation, and may engage in derivative transactions to seek return, to hedge against fluctuations in securities prices, interest rates or currency exchange rates, or as a substitute for the purchase or sale of securities or currencies.