The investment seeks capital growth and preservation consistent with its asset allocation as 2050 approaches, and thereafter current income and, secondarily, capital appreciation.
The fund normally invests in certain affiliated mutual funds and exchange-traded funds (ETFs) sponsored by Allianz and PIMCO (the "underlying funds"). It may invest without limit in underlying funds and may invest significantly in one or a small number of the underlying funds. The underlying funds in turn invest in or have exposure to return-generating assets and defensive assets. The fund may also invest in ETFs and mutual funds and pooled vehicles.