Industry description
The investment seeks to provide total return consistent with an asset allocation targeted at retirement in approximately 2030.
Under normal circumstances, the Portfolio invests at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in a combination of passively managed index funds (collectively, the “underlying funds”). The underlying funds invest in U.S. stocks, international stocks, U.S. bonds, and other debt instruments, and the Portfolio uses an asset allocation strategy designed for investors expecting to retire around the year 2030.