Strategy. The Fund operates under a fund of funds structure. The Fund invests substantially all of its assets in mutual funds (the Underlying Funds) which, in turn, invest in equity securities (stocks) and/or fixed income securities (bonds). The Underlying Funds are series of the American Funds family of funds. The Fund, under normal circumstances, invests approximately 60% of its assets in Underlying Funds that invest primarily in equity securities (stocks) and approximately 40% of its assets in Underlying Funds that invest primarily in fixed income securities (bonds). Lincoln Financial Investments Corporation (the Adviser) develops the Fund's asset allocation strategy based on the Fund's investment objective. Through its investment in Underlying Funds, the Fund allocates a large percentage of assets in domestic … Show more… The Fund operates under a fund of funds structure. The Fund invests substantially all of its assets in mutual funds (the Underlying Funds) which, in turn, invest in equity securities (stocks) and/or fixed income securities (bonds). The Underlying Funds are series of the American Funds family of funds. The Fund, under normal circumstances, invests approximately 60% of its assets in Underlying Funds that invest primarily in equity securities (stocks) and approximately 40% of its assets in Underlying Funds that invest primarily in fixed income securities (bonds). Lincoln Financial Investments Corporation (the Adviser) develops the Fund's asset allocation strategy based on the Fund's investment objective. Through its investment in Underlying Funds, the Fund allocates a large percentage of assets in domestic and foreign equity securities (stocks), including those with growth and value characteristics. Foreign equity securities may include companies in emerging markets. An Underlying Fund may invest a large percentage of its assets in issuers located in a single country, a small number of countries, or a particular geographic region. The Fund allocates a smaller percentage of assets to Underlying Funds that invest primarily in small- and medium-cap companies and domestic fixed income securities, including mortgage-backed securities. Mortgage-backed securities may be collateralized by mortgage loans and contracts for future delivery of the securities (such as to-be-announced contracts). Domestic fixed income securities also include high yield securities (otherwise known as junk bonds) and securities backed by the U.S. Treasury. In addition, Underlying Funds may hold foreign fixed income securities. Both U.S. and foreign fixed income securities may include inflation-indexed bonds issued by U.S. and non-U.S. governments, their agencies or instrumentalities, and corporations. On at least an annual basis, the Adviser will reassess and may make revisions in the Funds asset allocation strategy consistent with the Fund's investment strategy and objective, including revising the weightings among the investments described below and adding or removing Underlying Funds from the asset allocation strategy. The Adviser also will periodically rebalance the weightings in the Underlying Funds to the current asset allocation strategy. In general, the Adviser does not anticipate making frequent changes in the asset allocation strategy and will not attempt to time the market. The Adviser uses various analytical tools and third-party research to construct the portfolio. The Underlying Fund selection is made based on the Funds particular asset allocation strategy, the Adviser's desired asset class exposures, and the investment styles and performance of the Underlying Funds. The Adviser also considers the portfolio characteristics and risk profile for each Underlying Fund over various periods and market environments to assess each Underlying Funds suitability as an investment for the Fund. The full list of underlying funds used by the Fund is included in the Funds annual and semi-annual reports and quarterly holdings disclosures. Show less