A multi-manager Fund seeking income and capital appreciation primarily through investments in U.S. stocks and bonds.
EQUITY DIVERSIFICATION WITH THE STABILITY OF BONDS
The Fund invests in a combination of stocks and bonds, with 50% to 70% of the Fund’s assets allocated
to stocks and 30% to 50% to bonds.
Bottom-up equity portfolio construction that is well diversified at the security, industry and stock level.
Investment-grade fixed income portfolio seeks to preserve the natural advantage of bonds, which
promotes stability of the Fund.
A TEAM OF MANAGERS
The Fund’s three complementary equity managers
pursue a value style of investing:
Barrow: Uses bottom-up analysis, seeking P/E and
P/B ratios below the market and dividend yield above
Brandywine: Seeks companies that are substantially
undervalued, especially dividend-paying companies.
H&W: Seeks companies with sustainable cash flows
and strong balance sheets, undervalued relative to
tangible assets and long-term normal earnings power.
The Fund’s three complementary fixed-income
managers invest in investment-grade debt securities:
Barrow: Seeks to "out-yield" the market with
undervalued or mispriced securities and sectors.
Brandywine Global: Concentrates on top-down
analysis of macroeconomics to find attractive
American Beacon Advisors: Diversified sector
rotator, uncovering differences between similarly
rated issuers to capture relative value opportunities.
|Barrow, Hanley, Mewhinney & Strauss, LLC||
|Brandywine Global Investment Management, LLC||
|Hotchkis and Wiley Capital Management, LLC||
|American Beacon Advisors, Inc.*||
*American Beacon Advisors manages directly a portion of the Fund and allocates the remaining assets to sub-advisors.