NVIT American Funds Asset Allocation Fund

The fund invests all its assets in a master fund that dynamically allocates across equities, debt securities, and cash based on the adviser's assessment of relative attractiveness, typically maintaining 40–80% equities, 20–50% debt, and 0–40% cash. The adviser employs multiple portfolio managers, each overseeing segments of the portfolio and selecting securities believed to offer good long-term value; holdings may be sold when they no longer meet this standard. The fund may hold up to 15% in foreign equities, up to 5% in foreign debt, and up to 25% of debt assets in below-investment-grade securities. Because the allocation mix and individual security selections vary with the adviser's judgment about market conditions and relative value, fund returns will depend on the timing and accuracy of those tactical and security-level decisions.