This was the strongest performing balanced fund on my recommended list in the second quarter due to its overweight position in equities. The managers are becoming increasingly concerned about the health of the equity markets, causing them to pare back their exposure over the quarter. The equity weight was cut from 63% to 58%, while the fixed income increased from 28% to 34%. While it is still one of the more aggressively positioned balanced funds, these moves are expected to help to protect capital if we see a meaningful pullback in the equity markets.