Fund Description

The fund is a fund-of-funds that seeks to achieve its objective by investing in a professionally selected mix of mutual funds (Underlying Funds). It emphasizes growth of capital secondarily to income and uses an asset allocation approach managed by Empower Capital Management, LLC. The Underlying Funds may invest in U.S. and foreign equities (including emerging markets), U.S. and foreign fixed income (including below investment grade), real estate investments, short-term investments, and derivatives. Holdings are rebalanced periodically, and allocations and Underlying Funds are reviewed on a quarterly basis, or more frequently as deemed necessary.