Strategy. The Fund normally invests approximately 65% of its net assets in stocks and 35% of its net assets in fixed income securities, including money market securities, and cash reserves. The Fund may invest up to 35% of its net assets in foreign securities. The Fund has significant flexibility to invest in a broad range of equity, fixed income, and alternative asset classes in the U.S. and other markets throughout the world, both developed and emerging. T. Rowe Price Associates, Inc. (Sub-Adviser) may decide to overweight and underweight a particular asset class based on its outlook for the economy and financial markets. Under normal conditions, the Funds allocation to the broad asset classes will be within the following ranges, each as … Show more… The Fund normally invests approximately 65% of its net assets in stocks and 35% of its net assets in fixed income securities, including money market securities, and cash reserves. The Fund may invest up to 35% of its net assets in foreign securities. The Fund has significant flexibility to invest in a broad range of equity, fixed income, and alternative asset classes in the U.S. and other markets throughout the world, both developed and emerging. T. Rowe Price Associates, Inc. (Sub-Adviser) may decide to overweight and underweight a particular asset class based on its outlook for the economy and financial markets. Under normal conditions, the Funds allocation to the broad asset classes will be within the following ranges, each as a percentage of the Funds net assets: stocks (55%-75%), and fixed income securities, money market securities, and cash reserves (25%-45%). When deciding upon allocations within these prescribed limits, the Sub-Adviser may favor stocks when strong economic growth is expected and may favor fixed income securities if the economy is expected to slow sufficiently to hurt corporate profit growth. The Fund will invest in bonds, including foreign issues, which are primarily investment grade (i.e., assigned one of the four highest credit ratings by established credit rating agencies) and are chosen from across the entire government, corporate, and mortgage- and asset-backed securities markets. Maturities generally reflect the Sub-Advisers outlook for interest rates. The Fund may at times invest significantly in certain sectors. When selecting particular stocks, the Sub-Adviser will examine relative values and prospects among growth- and value-oriented stocks, domestic and international stocks, small- to large-cap stocks, and stocks of companies involved in activities related to commodities and other real assets. Domestic stocks are drawn from the overall U.S. market and international stocks are selected primarily from large companies in developed countries, although stocks in emerging markets may also be purchased. This process draws heavily upon the Sub-Advisers proprietary stock research expertise. While the Fund maintains a well-diversified portfolio, the Sub-Adviser may at a particular time shift stock selection toward markets or market sectors that appear to offer attractive value and appreciation potential. A similar security selection process applies to bonds. When deciding whether to adjust duration, credit risk exposure, or allocations among the various sectors (for example, high yield junk bonds, mortgage- and asset-backed securities, international bonds and emerging market bonds), the Sub-Adviser weighs such factors as the outlook for inflation and the economy, corporate earnings, expected interest rate movements and currency valuations, and the yield advantage that lower-rated bonds may offer over investment grade bonds. Show less