Retirement Living through 2020 Portfolio (JLDAX)

What You Should Know

The Fund's performance depends on the Adviser's skill in determining the strategic asset class allocations, the mix of underlying funds and the performance of those underlying funds. The underlying funds' performance may be lower than the performance of the asset class which they were selected to represent. The Fund is subject to the same risks as the underlying funds in which it invests, which include the following: stocks and bonds can decline due to adverse issuer, market, regulatory or economic developments; foreign investing, especially in emerging markets, has additional risks, such as currency and market volatility and political and social instability; the securities of small-capitalization companies are subject to higher volatility than larger, more established companies; and high-yield bonds are subject to additional risks, such as increased risk of default.

Each Retirement portfolio’s name refers to the approximate retirement year of the investors for whom the portfolio’s asset allocation strategy is designed. The portfolios with dates farther off initially allocate more aggressively to stock funds. As a portfolio approaches and passes its target date, the allocation will gradually migrate to more conservative, fixed-income funds. The principal value of each portfolio is not guaranteed and you could lose money at any time, including at, or after, the target date. Hedging and other strategic transactions may increase volatility of a fund and, if the transaction is not successful, could result in a significant loss.  For additional information on these and other risk considerations, please see the Fund's prospectus.