Industry description
The investment seeks a high level of current income with some consideration given to growth of capital.
The fund normally invests approximately 80% of its assets in underlying funds that invest primarily in fixed-income securities and approximately 20% in underlying funds that invest primarily in equity securities. It may have an equity/fixed-income underlying fund allocation ranging between 10%/90% and 30%/70%. The fund may invest in various actively managed underlying funds that, as a group, hold a wide range of equity-type securities. It may invest in affiliated and nonaffiliated investment companies. The fund is non-diversified.