Strategy. The Fund is a fund-of-funds that invests in various affiliated and unaffiliated mutual funds and exchange-traded funds (Underlying Funds) to pursue its investment objective. We seek to achieve the Funds investment objective by allocating up to 20% of its assets to stock funds, at least 65% and up to 85% of its assets to bond funds, up to 20% of its assets to inflation sensitive funds and up to 15% of its assets to alternative investment funds. The Funds broad diversification helps to reduce the overall impact of any one asset class underperforming, but may also limit upside potential. The Fund is a diversified portfolio of bond, stock, inflation sensitive and alternative investment strategy funds, with an emphasis on bonds. … Show more… The Fund is a fund-of-funds that invests in various affiliated and unaffiliated mutual funds and exchange-traded funds (Underlying Funds) to pursue its investment objective. We seek to achieve the Funds investment objective by allocating up to 20% of its assets to stock funds, at least 65% and up to 85% of its assets to bond funds, up to 20% of its assets to inflation sensitive funds and up to 15% of its assets to alternative investment funds. The Funds broad diversification helps to reduce the overall impact of any one asset class underperforming, but may also limit upside potential. The Fund is a diversified portfolio of bond, stock, inflation sensitive and alternative investment strategy funds, with an emphasis on bonds. Bond holdings may be diversified across a wide range of bond fund styles that consist of short- to long-term income-producing securities, including U.S. Government obligations, corporate bonds, below investment-grade bonds and foreign issues. Stock holdings may be diversified across a wide range of stock fund styles, including large company, small company and international. Inflation sensitive holdings are allocated across funds with investment strategies commonly used to protect against the effects of inflation, which may include, but are not limited to, investments in inflation protected bonds, commodities, natural resources, precious metals, or real estate. Alternative investment holdings are allocated across funds that use alternative investment strategies, which may include, but are not limited to, risk premia, managed futures, merger arbitrage, global multi-asset, long-short, market neutral, or other tactical investment strategies. An Underlying Fund that is considered an inflation sensitive fund or alternative investment fund may hold equity and/or fixed income securities as part of its underlying portfolio holdings. We consider the Underlying Funds overall strategy in determining whether it is a stock fund, bond fund, inflation sensitive fund, or alternative investment fund for purposes of making investments consistent with the Funds target allocations. We employ both quantitative analysis and qualitative judgments in making tactical allocations among asset classes. Quantitative analysis involves the use of proprietary asset allocation models, which employ various valuation techniques. Qualitative judgments are made based on assessments of a number of factors, including economic conditions, corporate earnings, monetary policy, market valuations, investor sentiment, and market technicals. Changes to effective allocations in the Fund may be implemented with index futures contracts or by buying and selling Underlying Funds, or both. The Fund incorporates a derivatives overlay strategy that contains three specific risk management components: 1.) Tactical Asset Allocation (TAA) Overlay, 2.) Volatility Management Overlay (VMO), and 3.) Tail Risk Management (TRM). Together these strategies will allow the Fund to attempt to manage short-term volatility, mitigate risk and/or improve returns under certain market conditions. To execute this overlay strategy, the Fund invests in long and/or short positions in exchange-traded futures contracts across a variety of asset classes, which include, but are not limited to, stocks, bonds, and currencies. Show less