Fund Description

The fund invests in a diverse combination of equity and fixed income investments. Under normal circumstances, the fund intends to invest approximately 60% of its assets in equity securities and approximately 40% of its assets in fixed income securities. Equity holdings focus on large- and mid-cap U.S. stocks in the S&P 500 Index; sector weightings are similar to those of the S&P 500 Index and are managed so they can differ only moderately from the index, emphasizing stocks viewed as undervalued and regular dividend payers using research, valuation and stock selection. Fixed income investments may include corporate bonds; U.S. Treasury obligations (including treasury coupon strips and treasury principal strips); other U.S. government and agency securities; and asset-backed, mortgage-related and mortgage-backed securities included in the Bloomberg U.S. Aggregate Bond Index; the fund will invest only in fixed income securities that are investment grade at the time of purchase and may invest in fixed income securities of any maturity or duration; all fixed income securities will be U.S. dollar-denominated. The fund may use futures for hedging, exposure, duration and cash management, and may lend securities up to 30% of total assets.