Investment Objective:The Fund seeks to provide long-term capital appreciation with reduced volatility compared to equity markets.
Investment Strategy:The Fund is actively managed and combines multiple principal investment strategies that, when combined, are intended to result in the Fund obtaining investment returns consistent with the equity market, but with lower volatility when compared to the equity market.
Investment Suitability:This Fund may be suitable for investors who have a medium- to long-term investment horizon, possess a moderate tolerance for risk and seek to participate in the return potential of stocks at a slightly lower risk level than an all stock portfolio.
This Fund is subject to credit risk and interest rate risk. Interest rate risk means, when interest rates rise, the value of the existing bonds decrease and vice versa. changes in interest rates have a bigger impact on long duration holdings than on short duration holdings. The value of convertible securities increase and decrease with the value of the underlying common stock, but may also be sensitive to changes in interest rates. Foreign securities may be subject to greater risk than domestic securities due to currency volatility, reduced market liquidity and political and economic instability. This description of risks is provided as a summary of the principal investment risks associated with this mutual fund. Refer to the Fund's prospectus for more detailed risk information.