Mutual Funds

Invesco Income Allocation Fund

Balanced | Global Balanced

Objective & Strategy

The fund seeks a high level of current income with a secondary objective of growth of capital.

Income Diversification

The Invesco Income Allocation Fund is designed to provide access to multiple asset classes with the goal of generating current income with growth of capital.

Diverse sources of income   Team of global experts   Current income
The fund invests in multiple asset classes across global/international, fixed income, equities and alternative investment styles to help generate income in an effort to keep pace with inflation, rising rates or wherever the market may lead.   The investments are chosen from Invesco's broad range of mutual funds and provide access to experienced investment teams who actively manage their funds.   The fund invests in a wide range of income-producing securities which focus on income and growth which may reduce overall volatility.

*Diversification does not guarantee a profit or eliminate the risk of loss.

Style Map

Invesco Income Allocation Fund

This map illustrates areas in which the fund can invest, not necessarily within a limited period of time. This fund is not classified with regard to one primary equity style, market cap, bond maturity, or bond quality.

as of 03/31/2016

Morningstar Rating

Overall Rating - Conservative Allocation Category

As of 03/31/2016 the Fund had an overall rating of 4 stars out of 734 funds and was rated 3 stars out of 734 funds, 4 stars out of 576 funds and 4 stars out of 358 funds for the 3-, 5- and 10- year periods, respectively.

Morningstar details

Source: Morningstar Inc. Ratings are based on a risk-adjusted return measure that accounts for variation in a fund's monthly performance (including the effect of sales charges, loads and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The overall rating is derived from a weighted average of three-, five- and 10-year rating metrics, as applicable. ©2016 Morningstar Inc. All rights reserved. The information contained herein is proprietary to Morningstar and/or its content providers. It may not be copied or distributed and is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance does not guarantee future results. A fund is eligible for a Morningstar Rating three years after inception. The top 10% of funds in a category receive five stars, the next 22.5% four stars, the next 35% three stars, the next 22.5% two stars and the bottom 10% one star. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages.) Ratings for other share classes may differ due to different performance characteristics.

Management team

as of 2/29/2016

Fund Holdings

  Target Weight %
Invesco Core Plus Bond Fund 14.00
Invesco Corporate Bond Fund 4.00
Invesco Dividend Income Fund* 14.00
Invesco Floating Rate Fund 7.00
Invesco Global Real Estate Income Fund 7.00
Invesco High Yield Fund 7.00
Invesco Premium Income Fund 9.50
Invesco US Mortgage Fund 9.50
PowerShares 1-30 Laddered Treasury Portfolio 4.00
PowerShares Emerging Markets Sovereign Debt Portfolio 5.00
PowerShares International Dividend Achievers Portfolio 3.00
PowerShares Russell Top 200 Pure Value Portfolio 8.00
PowerShares S&P International Developed Low Volatility Portfolio 3.00
PowerShares Variable Rate Preferred Portfolio 5.00

Note: the allocation percentages may not add to 100% due to rounding.
Holdings are subject to change.

*Effective Feb. 6, 2013, Invesco Utilities Fund was renamed Invesco Dividend Income Fund.

as of 03/31/2016 03/31/2016

Average Annual Returns (%)

Load (%)
Incept. (%)
YTD (%) 1Y (%) 3Y (%) 5Y (%) 10Y (%)
NAV 10/31/2005 N/A 5.42 2.93 -0.06 4.29 5.83 5.14
Load 10/31/2005 5.50 4.85 -2.73 -5.57 2.35 4.64 4.55
Performance quoted is past performance and cannot guarantee comparable future results; current performance may be lower or higher. Investment return and principal value will vary so that you may have a gain or a loss when you sell shares.

Performance shown at NAV does not include applicable front-end or CDSC sales charges, which would have reduced the performance.

Performance figures reflect reinvested distributions and changes in net asset value (NAV) and the effect of the maximum sales charge unless otherwise stated.

Had fees not been waived and/or expenses reimbursed currently or in the past, returns would have been lower.

as of 03/31/2016 03/31/2016

Annualized Benchmark Returns

Index Name 1 Mo (%) 3 Mo (%) 1Y (%) 3Y (%) 5Y (%) 10Y (%)
Custom Income Allocation Index 3.43 2.59 1.33 5.21 6.26 5.85
S&P 500 Reinvested IX 6.78 1.35 1.78 11.82 11.58 7.01
Custom Income Allocation Index 3.43 2.59 1.33 5.21 6.26 5.85
S&P 500 Reinvested IX 6.78 1.35 1.78 11.82 11.58 7.01

Source: Invesco, FactSet Research Systems Inc.

Source: FactSet Research Systems Inc.

An investment cannot be made directly in an index.

Expense Ratio per Prospectus

Management Fee 0.00
12b-1 Fee 0.25
Other Expenses 0.23
Interest/Dividend Exp 0.00
Total Other Expenses 0.23
Acquired Fund Fees and Expenses (Underlying Fund Fees & Expenses) 0.60
Total Annual Fund Operating Expenses 1.08
Contractual Waivers/Reimbursements -0.23
Net Expenses - PER PROSPECTUS 0.85
Additional Waivers/Reimbursements 0.00
Net Expenses - With Additional Fee Reduction 0.85
This information is updated per the most recent prospectus.

Historical Prices

From   to
No history records found for this date range


From   to
    Capital Gains Reinvestment
Price ($)
Ex-Date Income Short Term Long Term
04/21/2016 0.0297 N/A N/A 10.97
03/17/2016 0.0297 N/A N/A 10.81
02/18/2016 0.0297 N/A N/A 10.45
01/21/2016 0.0297 N/A N/A 10.27
12/16/2015 0.0687 N/A 0.0106 10.64
11/19/2015 0.0297 N/A N/A 10.87
10/15/2015 0.0297 N/A N/A 10.94
09/17/2015 0.0297 N/A N/A 10.86
08/20/2015 0.0297 N/A N/A 10.99
07/16/2015 0.0297 N/A N/A 11.12
06/18/2015 0.0297 N/A N/A 11.13
05/21/2015 0.0297 N/A N/A 11.29
04/16/2015 0.0297 N/A N/A 11.36
03/19/2015 0.0297 N/A N/A 11.24
02/19/2015 0.0297 N/A N/A 11.28
01/22/2015 0.0297 N/A N/A 11.30
12/17/2014 0.0808 N/A N/A 11.01
11/20/2014 0.0297 N/A N/A 11.19
10/16/2014 0.0297 N/A N/A 10.94
09/18/2014 0.0297 N/A N/A 11.14
08/21/2014 0.0297 N/A N/A 11.24
07/17/2014 0.0287 N/A N/A 11.22
06/19/2014 0.0287 N/A N/A 11.25
05/15/2014 0.0287 N/A N/A 11.11
04/17/2014 0.0287 N/A N/A 11.00
03/20/2014 0.0287 N/A N/A 10.85
02/20/2014 0.0287 N/A N/A 10.82
01/16/2014 0.0287 N/A N/A 10.74
12/18/2013 0.0287 N/A N/A 10.63
11/21/2013 0.0287 N/A N/A 10.62
10/17/2013 0.0287 N/A N/A 10.58
09/19/2013 0.0287 N/A N/A 10.49
08/15/2013 0.0287 N/A N/A 10.37
07/18/2013 0.0287 N/A N/A 10.57
06/27/2013 0.0925 N/A N/A 10.37
03/28/2013 0.0925 N/A N/A 10.67
12/14/2012 0.0925 N/A N/A 10.34
09/27/2012 0.0925 N/A N/A 10.30
06/21/2012 0.0890 N/A N/A 9.88
03/22/2012 0.0890 N/A N/A 9.87
12/16/2011 0.0892 N/A N/A 9.48
09/21/2011 0.0892 N/A N/A 9.44
06/23/2011 0.0892 N/A N/A 9.81
03/24/2011 0.0892 N/A N/A 9.77
12/17/2010 0.1094 N/A N/A 9.55
09/23/2010 0.0892 N/A N/A 9.45
06/24/2010 0.0892 N/A N/A 9.08
03/25/2010 0.0990 N/A N/A 9.28
12/17/2009 0.0992 N/A N/A 9.11
09/25/2009 0.0953 N/A N/A 8.87
06/25/2009 0.1072 N/A N/A 8.13
03/25/2009 0.1103 N/A N/A 7.45
12/16/2008 0.1664 N/A N/A 7.81
09/26/2008 0.1539 N/A N/A 9.25
06/25/2008 0.1185 N/A 0.1989 10.01
03/25/2008 0.1125 N/A N/A 10.24
12/18/2007 0.1731 0.0006 0.0826 10.538
09/25/2007 0.1105 N/A N/A 10.911
06/22/2007 0.0980 N/A 0.0636 10.923
03/22/2007 0.0880 N/A N/A 11.058
12/19/2006 0.1325 0.0152 N/A 10.841
09/22/2006 0.0983 N/A N/A 10.524
06/22/2006 0.0838 N/A 0.0065 10.117
03/22/2006 0.0760 N/A N/A 10.338
12/20/2005 0.1451 N/A N/A 10.109
as of 03/31/2016

Fund Characteristics

3-Year Alpha -1.31%
3-Year Beta 1.09
3-Year R-Squared 0.96
3-Year Sharpe Ratio 0.78
3-Year Standard Deviation 5.41
Number of Securities 14
Total Assets $438,655,959.00
Wghtd Med Mkt Cap MM$ $26,058.00

Source: FactSet Research Systems Inc., StyleADVISOR

Benchmark:  Custom Income Allocation Index

as of 2/29/2016

Fund Holdings

  Target Weight %
Invesco Core Plus Bond Fund 14.00
Invesco Corporate Bond Fund 4.00
Invesco Dividend Income Fund* 14.00
Invesco Floating Rate Fund 7.00
Invesco Global Real Estate Income Fund 7.00
Invesco High Yield Fund 7.00
Invesco Premium Income Fund 9.50
Invesco US Mortgage Fund 9.50
PowerShares 1-30 Laddered Treasury Portfolio 4.00
PowerShares Emerging Markets Sovereign Debt Portfolio 5.00
PowerShares International Dividend Achievers Portfolio 3.00
PowerShares Russell Top 200 Pure Value Portfolio 8.00
PowerShares S&P International Developed Low Volatility Portfolio 3.00
PowerShares Variable Rate Preferred Portfolio 5.00

Note: the allocation percentages may not add to 100% due to rounding.
Holdings are subject to change.

*Effective Feb. 6, 2013, Invesco Utilities Fund was renamed Invesco Dividend Income Fund.

 About risk

Active Trading Risk. Certain underlying funds engage in frequent trading of portfolio securities. Active trading results in added expenses and may result in a lower return and increased tax liability.

Borrowing Risk. Borrowing money to buy securities exposes an underlying fund to leverage because an underlying fund can achieve a return on a capital base larger than the assets that shareholders have contributed to an underlying fund. Borrowing may cause an underlying fund to be more volatile because it may exaggerate the effect of any increase or decrease in the value of an underlying fund's portfolio securities. Borrowing may also cause an underlying fund to liquidate positions when it may not be advantageous to do so. In addition, borrowing will cause an underlying fund to incur interest expenses and other fees. There can be no assurance that an underlying fund's borrowing strategy will be successful.

Call Risk. If interest rates fall, it is possible that issuers of debt securities with high interest rates will prepay or call their securities before their maturity dates. In this event, the proceeds from the called securities would likely be reinvested by an underlying fund in securities bearing the new, lower interest rates, resulting in a possible decline in an underlying fund's income and distributions to shareholders.

Cash/Cash Equivalents Risk. To the extent an underlying fund holds cash or cash equivalents rather than securities in which it primarily invests or uses to manage risk, the underlying fund may not achieve its investment objectives and may underperform.

Changing Fixed Income Market Conditions Risk. The current low interest rate environment was created in part by the Federal Reserve Board (FRB) and certain foreign central banks keeping the federal funds and equivalent foreign rates at or near zero. There is a risk that interest rates will rise when the FRB and central banks raise these rates. This risk is heightened due to the "tapering" of the FRB's quantitative easing program and other similar foreign central bank actions. This tapering and eventual increase in the federal funds and equivalent foreign rates may expose fixed income markets to heightened volatility and reduced liquidity for certain fixed income investments, particularly those with longer maturities. In addition, decreases in fixed income dealer market-making capacity may also potentially lead to heightened volatility and reduced liquidity in the fixed income markets. As a result, the value of an underlying fund's investments and share price may decline. Changes in central bank policies could also result in higher than normal shareholder redemptions, which could potentially increase portfolio turnover and an underlying fund's transaction costs.

Collateralized Loan Obligations Risk. In addition to the normal interest rate, default and other risks of fixed income securities, collateralized loan obligations carry additional risks, including the possibility that distributions from collateral securities will not be adequate to make interest or other payments, the quality of the collateral may decline in value or default, an underlying fund may invest in collateralized loan obligations that are subordinate to other classes, values may be volatile, and disputes with the issuer may produce unexpected investment results.

Concentration Risk. To the extent an underlying fund invests a greater amount in any one sector or industry, an underlying fund's performance will depend to a greater extent on the overall condition of the sector or industry, and there is increased risk to an underlying fund if conditions adversely affect that sector or industry.

Convertible Securities Risk. An underlying fund may own convertible securities, the value of which may be affected by market interest rates, the risk that the issuer will default, the value of the underlying stock or the right of the issuer to buy back the convertible securities.

Credit Linked Notes Risk. Risks of credit linked notes include those risks associated with the underlying reference obligation including but not limited to market risk, interest rate risk, credit risk, default risk and foreign currency risk. In the case of a credit linked note created with credit default swaps, the structure will be "funded" such that the par amount of the security will represent the maximum loss that could be incurred on the investment and no leverage is introduced. An investor in a credit linked note bears counterparty risk or the risk that the issuer of the credit linked note will default or become bankrupt and not make timely payment of principal and interest of the structured security.

Credit Risk. The issuer of instruments in which an underlying fund invests may be unable to meet interest and/or principal payments, thereby causing its instruments to decrease in value and lowering the issuer's credit rating.

Currency/Exchange Rate Risk. The dollar value of an underlying fund's foreign investments will be affected by changes in the exchange rates between the dollar and the currencies in which those investments are traded.

Defaulted Securities Risk. Defaulted securities involve the substantial risk that principal will not be repaid. Defaulted securities and any securities received in an exchange for such securities may be subject to restrictions on resale.

Derivatives Risk. The value of a derivative instrument depends largely on (and is derived from) the value of an underlying security, currency, commodity, interest rate, index or other asset (each referred to as an underlying asset). In addition to risks relating to the underlying assets, the use of derivatives may include other, possibly greater, risks, including counterparty, leverage and liquidity risks. Counterparty risk is the risk that the counterparty to the derivative contract will default on its obligation to pay an underlying fund the amount owed or otherwise perform under the derivative contract. Derivatives create leverage risk because they do not require payment up front equal to the economic exposure created by owning the derivative. As a result, an adverse change in the value of the underlying asset could result in an underlying fund sustaining a loss that is substantially greater than the amount invested in the derivative, which may make an underlying fund's returns more volatile and increase the risk of loss. Derivative instruments may also be less liquid than more traditional investments and an underlying fund may be unable to sell or close out its derivative positions at a desirable time or price. This risk may be more acute under adverse market conditions, during which an underlying fund may be most in need of liquidating its derivative positions. Derivatives may also be harder to value, less tax efficient and subject to changing government regulation that could impact an underlying fund's ability to use certain derivatives or their cost. Also, derivatives used for hedging or to gain or limit exposure to a particular market segment may not provide the expected benefits, particularly during adverse market conditions.

Developing/Emerging Markets Securities Risk. The prices of securities issued by foreign companies and governments located in developing/emerging markets countries may be affected more negatively by inflation, devaluation of their currencies, higher transaction costs, delays in settlement, adverse political developments, the introduction of capital controls, withholding taxes, nationalization of private assets, expropriation, social unrest, war or lack of timely information than those in developed countries.

Dollar Roll Transactions Risk. Dollar roll transactions involve the risk that the market value and yield of the securities retained by an underlying fund may decline below the price of the mortgage-related securities sold by an underlying fund that it is obligated to repurchase.

Exchange-Traded Funds Risk. An investment by an underlying fund in exchange-traded funds generally presents the same primary risks as an investment in a mutual fund. In addition, an exchange-traded fund may be subject to the following: (1) a discount of the exchange-traded fund's shares to its net asset value; (2) failure to develop an active trading market for the exchange-traded fund's shares; (3) the listing exchange halting trading of the exchange-traded fund's shares; (4) failure of the exchange-traded fund's shares to track the referenced asset; and (5) holding troubled securities in the referenced index or basket of investments. Investments in exchange-traded funds may involve duplication of management fees and certain other expenses, as an underlying fund indirectly bears its proportionate share of any expenses paid by the exchange-traded funds in which it invests. Further, certain of the exchange-traded funds in which an underlying fund may invest are leveraged. The more an underlying fund invests in such leveraged exchange-traded funds, the more this leverage will magnify any losses on those investments.

Financial Institutions Risk. Investments in financial institutions may be subject to certain risks, including, but not limited to, the risk of regulatory actions, changes in interest rates and concentration of loan portfolios in an industry or sector. Financial institutions are highly regulated and may suffer setbacks should regulatory rules and interpretations under which they operate change. Likewise, there is a high level of competition among financial institutions which could adversely affect the viability of an institution.

Floating Rate Risk. Some of the underlying funds may invest in floating rate loans and debt securities that require collateral. There is a risk that the value of the collateral may not be sufficient to cover the amount owed, collateral securing a loan may be found invalid, and collateral may be used to pay other outstanding obligations of the borrower under applicable law or may be difficult to sell. There is also the risk that the collateral may be difficult to liquidate, or that a majority of the collateral may be illiquid.

Foreign Currency Tax Risk. If the U. S. Treasury Department were to exercise its authority to issue regulations that exclude from the definition of "qualifying income" foreign currency gains not directly related to an underlying fund's business of investing in securities (which it has not done since such authority was granted to it in 1986, but has the right to do at any time), the underlying fund may be unable to qualify as a regulated investment company for one or more years. In this event, the underlying fund's Board of Trustees may authorize a significant change in investment strategy or other action.

Foreign Securities Risk. An underlying fund's foreign investments may be affected by changes in a foreign country's exchange rates, political and social instability, changes in economic or taxation policies, difficulties when enforcing obligations, decreased liquidity, and increased volatility. Foreign companies may be subject to less regulation resulting in less publicly available information about the companies.

Fund of Funds Risk. The Fund's performance depends on the underlying funds in which it invests, and it is subject to the risks of the underlying funds. Market fluctuations may change the target weightings in the underlying funds. The underlying funds may change their investment objectives, policies or practices and may not achieve their investment objectives, all of which may cause the Fund to withdraw its investments therein at a disadvantageous time.

High Yield Bond (Junk Bond) Risk. Junk bonds involve a greater risk of default or price changes due to changes in the credit quality of the issuer. The values of junk bonds fluctuate more than those of high-quality bonds in response to company, political, regulatory or economic developments. Values of junk bonds can decline significantly over short periods of time.

Income Risk. The income you receive from an underlying fund is based primarily on prevailing interest rates, which can vary widely over the short- and long-term. If interest rates drop, your income from an underlying fund may drop as well.

Industry Focus Risk. To the extent an underlying fund invests in securities issued or guaranteed by companies in the banking and financial services industries, an underlying fund's performance will depend on the overall condition of those industries, which may be affected by the following factors: the supply of short-term financing, changes in government regulation and interest rates, and the overall economy.

Interest Rate Risk. Interest rate risk refers to the risk that bond prices generally fall as interest rates rise; conversely, bond prices generally rise as interest rates fall. Specific bonds differ in their sensitivity to changes in interest rates depending on their individual characteristics, including duration.

Issuer-Specific Changes. The value of an individual security or particular type of security can be more volatile than the market as a whole and can perform differently from the value of the market as a whole.

Liquidity Risk. An underlying fund may hold illiquid securities that it may be unable to sell at the preferred time or price and could lose its entire investment in such securities.

Management Risk. The investment techniques and risk analysis used by the Fund's and the underlying funds' portfolio managers may not produce the desired results.

Market Risk. The prices of and the income generated by the underlying funds' securities may decline in response to, among other things, investor sentiment, general economic and market conditions, regional or global instability, and currency and interest rate fluctuations.

Market Trading Risk. Risk is inherent in all investing. An investment in an underlying fund involves risks similar to those of investing in any underlying fund of equity or fixed-income securities traded on exchanges. You should anticipate that the value of the shares will decline, more or less, in correlation with any decline in value of the underlying index of certain underlying exchange-traded funds.

Mortgage- and Asset-Backed Securities Risk. Certain underlying funds may invest in mortgage- and asset-backed securities that are subject to prepayment or call risk, which is the risk that the borrower's payments may be received earlier or later than expected due to changes in prepayment rates on underlying loans. Faster prepayments often happen when interest rates are falling. As a result, an underlying fund may reinvest these early payments at lower interest rates, thereby reducing the underlying fund's income. Conversely, when interest rates rise, prepayments may happen more slowly, causing the security to lengthen in duration. Longer duration securities tend to be more volatile. Securities may be prepaid at a price less than the original purchase value. An unexpectedly high rate of defaults on the mortgages held by a mortgage pool may adversely affect the value of mortgage-backed securities and could result in losses to an underlying fund. The risk of such defaults is generally higher in the case of mortgage pools that include subprime mortgages. Subprime mortgages refer to loans made to borrowers with weakened credit histories or with lower capacity to make timely payments on their mortgages.

Municipal Securities Risk. An underlying fund may invest in municipal securities. Constitutional amendments, legislative enactments, executive orders, administrative regulations, voter initiatives, and the issuer's regional economic conditions may affect the municipal security's value, interest payments, repayment of principal and the underlying fund's ability to sell it. Failure of a municipal security issuer to comply with applicable tax requirements may make income paid thereon taxable, resulting in a decline in the security's value. In addition, there could be changes in applicable tax laws or tax treatments that reduce or eliminate the current federal income tax exemption on municipal securities or otherwise adversely affect the current federal or state tax status of municipal securities.

Non-Correlation Risk. The return of an underlying fund's preferred equity segment may not match the return of the underlying index for a number of reasons. For example, an underlying fund incurs operating expenses not applicable to the underlying index, and incurs costs in buying and selling securities, especially when rebalancing securities holdings to reflect changes in the underlying index. In addition, the performance of the preferred equity segment and the underlying index may vary due to asset valuation differences and differences between the preferred equity segment and the underlying index resulting from legal restrictions, costs or liquidity constraints.

Non-Diversification Risk. Certain of the underlying funds are non-diversified and can invest a greater portion of their assets in a small number of issuers or a single issuer. A change in the value of the issuer could affect the value of an underlying fund more than if it was a diversified fund.

Preferred Securities Risk. Preferred securities may include provisions that permit the issuer, in its discretion, to defer or omit distributions for a certain period of time. If an underlying fund owns a security that is deferring or omitting its distributions, an underlying fund may be required to report the distribution on its tax returns, even though it may not have received this income. Further, preferred securities may lose substantial value due to the omission or deferment of dividend payments.

Prepayment Risk. An issuer's ability to prepay principal on a loan or debt security prior to maturity can limit an underlying fund's potential gains. Prepayments may require the underlying fund to replace the loan or debt security with a lower yielding security, adversely affecting an underlying fund's yield.

Reinvestment Risk. Reinvestment risk is the risk that a bond's cash flows (coupon income and principal repayment) will be reinvested at an interest rate below that on the original bond.

REIT Risk/Real Estate Risk. An underlying fund concentrates its investments in the securities of real estate and real estate related companies. Investments in real estate related instruments may be affected by economic, legal, cultural, environmental or technological factors that affect property values, rents or occupancies of real estate related to an underlying fund's holdings. Real estate companies, including REITs or similar structures, tend to be small and mid cap companies, and their shares may be more volatile and less liquid. The value of investments in real estate related companies may be affected by the quality of management, the ability to repay loans, the utilization of leverage and financial covenants related thereto, whether the company carries adequate insurance and environmental factors. If a real estate related company defaults, an underlying fund may own real estate directly, which involves the following additional risks: environmental liabilities, difficulty in valuing and selling the real estate, and economic or regulatory changes.

Small- and Mid-Capitalization Risks. Stocks of small- and mid-sized companies tend to be more vulnerable to adverse developments and may have little or no operating history or track record of success, and limited product lines, markets, management and financial resources. The securities of small- and mid-sized companies may be more volatile due to less market interest and less publicly available information about the issuer. They also may be illiquid or restricted as to resale, or may trade less frequently and in smaller volumes, all of which may cause difficulty when establishing or closing a position at a desirable price.

Sovereign Debt Risk. Investments in foreign sovereign debt obligations involve certain risks in addition to those relating to foreign securities or debt securities generally. The issuer of the debt or the governmental authorities that control the repayment of the debt may be unable or unwilling to repay principal or interest when due in accordance with the terms of such debt, and an underlying fund may have limited recourse in the event of a default against the defaulting government. Without the approval of debt holders, some governmental debtors have in the past been able to reschedule or restructure their debt payments or declare moratoria on payments.

TBA Transactions Risk. TBA transactions involve the risk that the securities received may be less favorable than what was anticipated by an underlying fund when entering into the TBA transaction. TBA transactions also involve the risk that a counterparty will fail to deliver the securities, exposing an underlying fund to further losses. Whether or not an underlying fund takes delivery of the securities at the termination date of a TBA transaction, an underlying fund will nonetheless be exposed to changes in the value of the underlying investments during the term of the agreement. When an underlying fund enters into a short sale of a TBA mortgage it does not own, an underlying fund may have to purchase deliverable mortgages to settle the short sale at a higher price than anticipated, thereby causing a loss. A short position in a TBA mortgage poses more risk than holding the same TBA mortgage long. As there is no limit on how much the price of mortgage securities can increase, an underlying fund's exposure is unlimited. An underlying fund may not always be able to purchase mortgage securities to close out the short position at a particular time or at an acceptable price. An underlying fund will earmark or segregate liquid assets in an amount at least equal to its exposure for the duration of the contract. An underlying fund will incur increased transaction costs associated with selling TBA mortgages short. In addition, taking short positions in TBA mortgages results in a form of leverage which could increase the volatility of an underlying fund's share price.

U. S. Government Obligations Risk. An underlying fund may invest in obligations issued by U. S. Government agencies and instrumentalities that may receive varying levels of support from the government, which could affect an underlying fund's ability to recover should they default.

Value Investing Style Risk. Certain of the underlying funds emphasize a value style of investing, which focuses on undervalued companies with characteristics for improved valuations. This style of investing is subject to the risk that the valuations never improve or that the returns on value equity securities are less than returns on other styles of investing or the overall stock market. Value stocks also may decline in price, even though in theory they are already underpriced.

When-Issued and Delayed Delivery Risks. When-issued and delayed delivery transactions are subject to market risk as the value or yield of a security at delivery may be more or less than the purchase price or the yield generally available on securities when delivery occurs. In addition, an underlying fund is subject to counterparty risk because it relies on the buyer or seller, as the case may be, to consummate the transaction, and failure by the other party to complete the transaction may result in an underlying fund missing the opportunity of obtaining a price or yield considered to be advantageous.

Zero Coupon or Pay-In-Kind Securities Risk. The value, interest rates, and liquidity of non-cash paying instruments, such as zero coupon and pay-in-kind securities, are subject to greater fluctuation than other types of securities. The higher yields and interest rates on pay-in-kind securities reflect the payment deferral and increased credit risk associated with such instruments and that such investments may represent a higher credit risk than coupon loans. Pay-in-kind securities may have a potential variability in valuations because their continuing accruals require continuing judgments about the collectability of the deferred payments and the value of any associated collateral.

as of 04/29/2016


NAV Change ($)
$11.02 -0.01
N/As may appear until data is available. Data is usually updated between 3 and 6 p.m. CST.
as of 04/29/2016


  • Distribution Yield
    with Sales Charge 3.06%
  • Distribution Yield
    without Sales Charge 3.23%
  • SEC 30-Day Yield 3.51%
  • Unsub. 30-Day Yield 3.24%

Fund Details

  • Distribution Frequency Monthly
  • WSJ Abrev. N/A
  • CUSIP 00141M242
  • Fund Type Balanced
  • Geography Type DiversifiedPortfolio
  • Inception Date 10/31/2005
  • Fiscal Year End 12/31
  • Min Initial Investment $1,000
  • Subsequent Investment $50
  • Min Initial IRA Investment $250
  • Fund Number 1606
  • Tax ID 20-3444522