Fund Description

The fund invests in a diversified mix of asset classes, including equity and fixed-income investments, in any proportion, with the asset mix shifting based on the Adviser's view of economic and market conditions. It generally allocates a substantial portion of assets to non-U.S. investments and invests across regions and countries in no fewer than three countries. Allocation and security selection are guided in part by proprietary quantitative models. Fixed-income holdings may include U.S. and foreign government and corporate debt, MBS, noninvestment-grade securities, and the fund may buy or sell foreign currencies in lieu of or in addition to non-dollar-denominated fixed-income securities to increase or decrease exposure to foreign interest rate and/or currency markets. The fund may use derivatives, ETFs whose price is determined by the price of an underlying commodity or commodity index, REITs, Underlying Funds, and short sales, and it actively trades, which can raise turnover, costs, and short-term taxable gains.