These percentages can vary by up to 15 percent, depending on market, financial and economic conditions. The fund may be suitable for investors who seek broad diversification and who prefer to have their asset allocation decisions made by a team of professional investment managers. It can serve as a complete investment program or as the core of a larger portfolio.
Returns shown here reflect a voluntary waiver of part of the investment management fee.
The waiver will remain in effect until July 1, 2006. If there had been no waiver, total returns would have been lower. Past performance doesn't guarantee comparable returns in the future. Both returns and the value of your invested principal will fluctuate, and at redemption your shares may be worth either more or less than you originally paid. 1 Shareholders will indirectly bear the prorata portion of the fees and expenses incurred by the funds that the Managed Allocation Fund invests in, but there are no additional fees charged by the Investment Advisor for managing this fund.