Strategy. Under normal circumstances, between 50% and 70% of the Funds total assets are invested in equity securities and between 30% and 50% of the Funds total assets are invested in debt securities. The Manager allocates the assets of the Fund among different sub-advisors. The Manager believes that this strategy may help the Fund outperform other investment styles over the longer term while reducing volatility and downside risk. The Funds equity investments may include common stocks, preferred stocks, convertible securities, including convertible preferred securities, master limited partnerships (MLPs), real estate investment trusts (REITs), depositary receipts, which may include American depositary receipts (ADRs) and global depositary receipts (GDRs), and U.S. dollar-denominated foreign stocks traded on U.S. exchanges (collectively referred to as stocks). … Show more… Under normal circumstances, between 50% and 70% of the Funds total assets are invested in equity securities and between 30% and 50% of the Funds total assets are invested in debt securities. The Manager allocates the assets of the Fund among different sub-advisors. The Manager believes that this strategy may help the Fund outperform other investment styles over the longer term while reducing volatility and downside risk. The Funds equity investments may include common stocks, preferred stocks, convertible securities, including convertible preferred securities, master limited partnerships (MLPs), real estate investment trusts (REITs), depositary receipts, which may include American depositary receipts (ADRs) and global depositary receipts (GDRs), and U.S. dollar-denominated foreign stocks traded on U.S. exchanges (collectively referred to as stocks). The Funds investments in stocks include dividend-paying stocks. The Fund principally invests in large-capitalization and mid-capitalization companies. The Funds sub-advisors select stocks that, in their opinion, have most or all of the following characteristics (relative to the S&P 500 Index): above-average earnings growth potential, below-average price to earnings ratio, below-average price to book value ratio, and above-average dividend yields. Each of the Funds sub-advisors determines the earnings growth prospects of companies based upon a combination of internal and external research using fundamental analysis and considering changing economic trends. The sub-advisors typically seek to invest in companies that they believe to be undervalued at the time of purchase. The decision to sell a stock is typically based on the belief that the company is no longer considered undervalued or shows deteriorating fundamentals, or that better investment opportunities exist in other stocks. The Funds debt securities may include: debentures; obligations of the U.S. Government, its agencies and instrumentalities, including U.S. Government-sponsored enterprises (some of which are not backed by the full faith and credit of the U.S. Government); corporate debt securities, such as notes and bonds; mortgage-backed and mortgage-related securities, including collateralized mortgage obligations (CMOs) and commercial mortgage-backed securities (CMBSs); asset-backed securities; and variable and floating rate securities, which pay interest at variable rates, certain of which are based on a lending rate. The Fund will only buy debt securities that are deemed by the Manager or sub-advisors, as applicable, to be investment grade at the time of the purchase. If an investment held by the Fund is downgraded below investment grade, the Manager or sub-advisors, as applicable, will take action that they believe to be advantageous to the Fund. The Fund has no limitations regarding the duration of the debt securities it can buy. In determining which debt securities to buy and sell, the Manager and the sub-advisors generally use either a top-down or bottom-up investment strategy, or a combination of both strategies. The top-down fixed income investment strategy is implemented as follows: Develop an overall investment strategy, including a portfolio duration target, by examining the current trends in the U.S. economy. Set desired portfolio duration structure by comparing the differences between corporate and U.S. Government securities of similar duration to judge their potential for optimal return in accordance with the target duration benchmark. Determine the weightings of each security type by analyzing the difference in yield spreads between corporate and U.S. Government securities. Select specific debt securities within each security type. Review and monitor portfolio composition for changes in credit, risk-return profile and comparisons with benchmarks. The bottom-up fixed income investment strategy is implemented as follows: Search for eligible securities with a yield to maturity advantage versus a U.S. Government security with a similar duration. Evaluate credit quality of the securities. Perform an analysis of the expected price volatility of the securities to changes in interest rates by examining actual price volatility between U.S. Government and non-U.S. Government securities. The Fund may invest cash balances in a government money market fund advised by the Manager, with respect to which the Manager receives a management fee. ?The Fund may also purchase and sell equity index futures contracts to gain market exposure on cash balances or reduce market exposure in anticipation of liquidity needs. The Fund may seek to earn additional income by lending its securities to certain qualified broker-dealers and institutions. Show less