Industry description
The investment seeks high total return through a combination of capital appreciation and current income.
To pursue its goal, the fund invests in a diversified mix of stocks and fixed-income securities. The managers select securities that, in the portfolio managers' judgment, will result in the highest total return consistent with preservation of principal. The mix of stocks and bonds varies from time to time, but normally the fund allocates between 25% and 50% of its assets to fixed-income securities and between 75% to 50% of its assets to equities.