VBAL aims for capital appreciation by actively targeting a long-term strategic allocation of 60/40 in equities and fixed income respectively. The fund invests in Vanguard ETFs that provides global, broad-based exposure to equity and fixed income markets. The portfolio may be reconstituted and rebalanced at the discretion of the Sub-advisor. The funds sibling fund VGRO has 80% equity exposure, VCNS has 40% equity exposure, and VCIP has 20% equity exposure.