Fund Description

The fund is a fund of funds that allocates assets primarily to underlying mutual funds, mainly those managed by its investment adviser, but it may also use unaffiliated mutual funds or ETFs for asset-class exposure not otherwise available. It may invest directly in securities when the sub-adviser believes this can increase yield or enhance returns. It is multi-strategy, investing directly or indirectly in U.S. and foreign equity securities (including emerging markets) and in fixed income across maturities and credit qualities, including high-yield, mortgage- and asset-backed, municipal, government, convertible, bank loans, inflation-linked investments, and cash equivalents. Allocation is driven by strategic and tactical asset allocation and fund selection, incorporating diversification and risk management, with no target ranges or required minimums/maximums by asset class.