Strategy. In seeking to maximize total return, under normal circumstances, the Funds assets are allocated into a diversified portfolio consisting of domestic and international equity securities (including American Depositary Receipts (ADRs) and Global Depositary Receipts (GDRs)), domestic and international fixed income securities, exchange-traded funds (ETFs), mutual funds and cash equivalent money market securities. The Funds allocation to individual securities may range from 0% to 90% of the Funds assets. The asset classes in which the Fund may invest include growth and value stocks, equity securities from developed and emerging international markets, commodity-related securities and domestic and international real estate securities, corporate bonds, mortgage- backed or asset-backed securities, securities issued by the U.S. and foreign governments or their agencies and instrumentalities, and … Show more… In seeking to maximize total return, under normal circumstances, the Funds assets are allocated into a diversified portfolio consisting of domestic and international equity securities (including American Depositary Receipts (ADRs) and Global Depositary Receipts (GDRs)), domestic and international fixed income securities, exchange-traded funds (ETFs), mutual funds and cash equivalent money market securities. The Funds allocation to individual securities may range from 0% to 90% of the Funds assets. The asset classes in which the Fund may invest include growth and value stocks, equity securities from developed and emerging international markets, commodity-related securities and domestic and international real estate securities, corporate bonds, mortgage- backed or asset-backed securities, securities issued by the U.S. and foreign governments or their agencies and instrumentalities, and higher-yielding bonds (sometimes referred to as junk bonds), including emerging market debt. The Fund may invest in debt obligations of any maturity. A significant portion of the Funds fixed income allocation may be in non-investment grade fixed income investments with varying maturities, but these allocations may vary significantly over time. The Fund may allocate assets to various fixed income and equity securities and sectors. Using this type of strategy, the Fund seeks to tactically avoid risk by reducing exposure to unattractive sectors at the appropriate times, while also increasing exposure to attractive sectors on a timely basis. The Fund may invest in investment companies (collectively, referred to herein as Underlying Funds) when AssetMark, Inc. (AssetMark or the Advisor) believes that investing in Underlying Funds would provide the Fund with an efficient means of creating exposure to a broad range of securities. The Funds allocation to Underlying Funds may range from 10% to 100% of the Funds assets. The Fund may also invest in other exchange-traded products, such as exchange-traded notes (ETNs). The ETFs and ETNs in which the Fund invests may include inverse, leveraged, and inverse-leveraged ETFs and ETNs. Inverse ETFs and ETNs are designed to correlate inversely with the performance of an index. Leveraged and inverse-leveraged ETFs and ETNs seek investment results that correspond to two or more times the performance of an index or inverse of the performance of an index, respectively. By investing in the Fund, you will indirectly bear fees and expenses of Underlying Funds in which the Fund may invest in addition to the Funds direct fees and expenses. In order to obtain exposure to certain markets, asset classes or active management styles, the Fund may buy Underlying Funds managed by the Advisor or its affiliates, which, in turn, invest in various securities, including ETFs. The Fund may invest in Underlying Funds that use alternative strategies (e.g., long/short strategies - equity and fixed income, market- neutral strategies, and absolute return/global macro strategies) and/or use derivatives for risk management purposes or as part of their investment strategies. An Underlying Fund may use derivatives to earn income and enhance returns, to manage or adjust its risk profile, to replace more traditional direct investments, or to obtain exposure to certain markets. The Advisors asset allocation decisions will be based on different factors and analytical approaches, including tactical volatility managed asset allocation approaches developed by various research providers selected by the Advisor. The Advisor may utilize a combination of internal and external research constructing the Funds portfolio. The Funds asset allocation mix among equity, fixed income and cash equivalent money market securities is intended to change frequently over time. The Fund does not have a set target asset allocation mix among equities, fixed income securities and cash equivalent investments. If the Advisor believes that the stock market conditions are unfavorable or overvalued, it may significantly increase the allocation to more defensive asset classes such as fixed income or cash equivalent securities. The Advisor also has broad latitude to allocate assets to equity securities in pursuit of perceived opportunities for additional return. Based on these judgments, the Funds asset allocation mix may significantly change over time in response to opportunities as they are identified. The Fund lends its portfolio securities to seek to generate additional income. Show less