Target Style


Fund Objective

Seeks growth of capital.

Fund Highlights

  • Access to a full-range of market capitalizations and diverse asset classes and styles spanning fixed income and equity, domestic and international, growth and value.
  • An allocation to the Global Trends Fund, which may be able to reduce volatility by adjusting exposures to multiple asset classes and by increasing overall diversification.
  • An allocation to the Alternative Strategies Fund with exposures to three alternative investments (including commodities, hedge fund strategies, and managed futures).

 

 

 

Effective July 1, 2016, the name of the Focused Multi-Asset Strategy Portfolio was changed to the SunAmerica Multi-Asset Allocation Portfolio and certain corresponding changes were made to the Fund's investment strategy and techniques

The Russell 3000 Index measures the performance of 3,000 companies based on a combination of their market cap and current index membership. Please note an investor cannot invest directly in an index.

Performance data quoted represents past performance and is not a guarantee of future results. The data assumes reinvestment of all distributions at net asset value. Maximum sales charge (Class A): 5.75%. The Fund’s daily net asset value is not guaranteed and shares are not insured by the FDIC, the Federal Reserve Board or any other agency. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be higher or lower than the original cost. Current performance may be higher or lower than that shown.

$10,000 initial investment in Class A from Fund inception through the report date, with all income dividends and capital gains reinvested.  Includes a maximum 5.75% sales charge. This chart is hypothetical and is for illustrative purposes only.

Asset allocation does not guarantee a profit, nor does it protect against loss.

Focused funds are less diversified than typical mutual funds; therefore the performance of each holding in a focused fund has a greater impact upon the overall portfolio, which increases risk.

Stocks of small-cap and mid-cap companies are generally more volatile than and not as readily marketable as those of larger companies, and may have fewer resources and a greater risk of business failure than do large companies.

Commodity and hedge fund-linked derivative instruments have substantial risks, including risk of loss of a significant portion of their principal value. They may be more volatile and less liquid than the underlying instruments and their value will be affected by the performance of the commodity markets or underlying hedge funds, as well as economic and other regulatory or political developments, overall market movements and other factors. The value of commodity-linked derivative instruments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or sectors affecting a particular industry or commodity. The hedge funds comprising a hedge fund index invest in and may actively trade securities and other financial instruments using a variety of strategies and investment techniques that may involve significant risk.

Futures instruments and other derivatives involve a degree of leverage, which can result in a loss substantially greater than the amount invested in the futures or other derivative itself. If futures and other derivatives are used for leverage, the investment will tend to be more volatile, resulting in larger gains or losses in response to price fluctuations.  

Investments that provide exposure to foreign markets involve special risks, such as currency fluctuations, differing financial reporting and regulatory standards, and economic and political instability. These risks are highlighted when the issuer is in an emerging market. Fixed income securities and currency and fixed income futures are subject to changes in their value when prevailing interest rates change. Adverse changes in currency exchange rates (relative to the U.S. dollar) may erode or reverse any potential gains from futures instruments that are tied to foreign instruments or currencies.  Emerging market exposure generally has a higher level of currency risk. Credit risk (i.e., the risk that an issuer might not pay interest when due or repay principal at maturity of the obligation) could affect the value of investments in fixed income securities. Active trading may result in high portfolio turnover and correspondingly greater brokerage commissions and other transaction costs, which will affect performance.

There is no guarantee a fund will meet its objective.

The style and risk measures illustrated above are broad-based, relative targets for the Fund. There can be no assurances that the Fund exactly exhibits these categorizations at any given time.

Standard Deviation is a measure of the volatility that an investment experiences over time. The higher the standard deviation, the greater the performance swings of the investment. The Sharpe Ratio uses a fund’s standard deviation and its excess return (the difference between the fund’s return and the risk-free return of 90-day Treasury Bills) to determine reward per unit of risk. Beta is a measure of a fund’s sensitivity to market movements. A portfolio with a beta greater than 1 is more volatile than the market, and a portfolio with a beta less than 1 is less volatile than the market. R-Squared reflects the percentage of a fund’s movements that are explained by movements in its benchmark index, showing the degree of correlation between the fund and the benchmark. Alpha is a measure of performance on a risk adjusted basis of a mutual fund and compares its risk adjusted performance to a benchmark index. A positive alpha of 1.0% means the fund has outperformed its benchmark index by 1% and a negative alpha of -1.0% would indicate an underperformance of 1%.

Price/Earnings Ratio measures a company’s current share price compared to its per-share earnings. Price/Book Ratio compares a company’s book value to its current market price. Book value denotes the portion of equity held by shareholders.