CFS FC W Pen-CFS Lifestage 1960-64

To invest in a diverse range of assets that are expected to generate a mix of long-term capital growth and income. The strategy seeks to reduce volatility of returns, and over time the portfolio's exposure to assets with volatile returns will be reduced to provide greater short-term security. The portfolio aims to hedge currency risk except for part of the allocation to global shares (which may include emerging market shares). The option may use derivatives with the objective of reducing overall portfolio volatility.