Investment objective & strategy
As of April 16, 2025 · prospectusObjective. To seek to provide high total return (including income and capital gains) consistent with preservation of capital over the long term.
Strategy. The fund invests all of its assets in Class 1 shares of its master fund, the Asset Allocation Fund, a series of American Funds Insurance Series. The master fund invests in a diversified portfolio of common stocks and other equity securities, bonds and other intermediate and long-term debt securities, and money market instruments (debt securities maturing in one year or less). The master fund may invest up to 25% of its debt assets in lower quality debt securities (rated Ba1 or below and BB+ or below by a nationally recognized statistical rating organization (NRSRO) designated by the master funds investment advisor or unrated but determined to be of equivalent quality by the master funds investment advisor). Such securities are sometimes … The fund invests all of its assets in Class 1 shares of its master fund, the Asset Allocation Fund, a series of American Funds Insurance Series. The master fund invests in a diversified portfolio of common stocks and other equity securities, bonds and other intermediate and long-term debt securities, and money market instruments (debt securities maturing in one year or less). The master fund may invest up to 25% of its debt assets in lower quality debt securities (rated Ba1 or below and BB+ or below by a nationally recognized statistical rating organization (NRSRO) designated by the master funds investment advisor or unrated but determined to be of equivalent quality by the master funds investment advisor). Such securities are sometimes referred to as junk bonds. In seeking to pursue its investment objective, the master fund varies its mix of equity securities, debt securities and money market instruments. Under normal market conditions, the master funds investment advisor expects (but is not required) to maintain an investment mix falling within the following ranges: 40% 80% in equity securities, 20% 50% in debt securities and 0% 40% in money market instruments and cash. As of December 31, 2024, the fund was approximately 67% invested in equity securities, 30% invested in debt securities and 3% invested in money market instruments and cash. The proportion of equities, debt and money market securities held by the master fund will vary with market conditions and the investment advisors assessment of their relative attractiveness as investment opportunities. The master fund may invest up to 15% of its assets in common stocks and other equity securities of issuers domiciled outside the U.S. and up to 5% of its assets in debt securities tied economically to countries outside the U.S. The master fund may invest in other funds managed by the investment advisor or its affiliates to more effectively invest in a diversified set of securities in a specific asset class such as money market instruments, bonds and other securities (Central Funds). Shares of Central Funds are only offered for purchase to the master funds investment advisor and its affiliates and other funds, investment vehicles and accounts managed by the master funds investment advisor and its affiliates. When investing in Central Funds, the master fund bears its proportionate share of the expenses of the Central Funds in which it invests but does not bear additional management fees through its investment in such Central Funds. The investment results of the portion of the master funds assets invested in the Central Funds will be based upon the investment results of the Central Funds. The manager considers environmental, social, and/or governance (ESG) factors, alongside other relevant factors, as part of its investment process. ESG factors may include, but are not limited to, matters regarding board diversity, climate change policies, and supply chain and human rights policies. The ESG characteristics utilized in the funds investment process may change over time and one or more characteristics may not be relevant with respect to all issuers that are eligible fund investments. Because ESG factors are considered alongside other relevant factors, the manager may determine that an investment is appropriate notwithstanding its relative ESG characteristics.
Top holdings
As of March 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| AMERICAN FUNDS INSURANCE SERIES - ASSET ALLOCATION FUND CL 1 (VIAA CL 1) | VAAAL1V | $1.16B | 100.01% |
Portfolio moves
Dec 31, 2025 → Mar 31, 2026How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.
Similar funds
Funds whose portfolios most overlap this one, by weight| Fund | Overlap | Net exp. |
|---|---|---|
| JNL/American Funds Balanced Fund | 100% | 0.60% |
| NVIT American Funds Asset Allocation Fund | 100% | 0.67% |
| SA American Funds Asset Allocation Portfolio | 100% | 0.55% |
Advisers
| Firm | Role |
|---|---|
| John Hancock Variable Trust Advisers LLC | Adviser |
Footnotes
- Expense ratio as of April 16, 2025, from the fund's prospectus.
- Net assets and holdings count as of March 31, 2026, from the fund's N-PORT filing.
- Total return for calendar year 2025, before tax and after fund expenses. Computed by compounding the twelve monthly total returns the fund reported in its SEC N-PORT filings for 2025 (the latest prospectus does not yet chart this year).
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