Managed Risk Asset Allocation Fund
Data updated: 2026-08-27
C000117907 — Managed Risk Asset Allocation Fund. United States Large Cap Blend / Core Equity · $1.45B AUM. Holdings, fees, performance and SEC filings.
C000117907 Fund Overview
Managed Risk Asset Allocation Fund is a US mutual fund managed by American Funds Insurance Series, categorised as United States Large Cap Blend / Core Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: American Funds Insurance Series
- Category: United States Large Cap Blend / Core Equity
- Assets under management: $1.45B
- 1-year return: 14.4%
- SEC CIK: 0000729528
- SEC series ID: S000038240
- Share class ID: C000117907
C000117907 Investment Objective and Strategy
Managed Risk Asset Allocation Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by American Funds Insurance Series.
Investment objective
The funds investment objective is to provide high total return (including income and capital gains) consistent with preservation of capital over the long term while seeking to manage volatility and provide downside protection.
Principal investment strategy
The fund pursues its investment objective by investing in shares of an underlying fund, the American Funds Insurance Series Asset Allocation Fund while seeking to manage portfolio volatility and provide downside protection primarily through the use of exchange-traded options and futures contracts. The investment objective of the underlying fund is to provide investors with high total returns (including income and capital gains) consistent with preservation of capital over the long term. The underlying fund invests in a diversified portfolio of common stocks and other equity securities, bonds and other intermediate and long-term debt securities, and money market instruments (debt securities maturing in one year or less). The underlying fund varies its mix of equity securities, debt securities and money market instruments.
Under normal market conditions, the underlying funds investment adviser expects (but is not required) to maintain an investment mix falling within the following ranges: 40%-80% in equity securities, 20%-50% in debt securities and 0%-40% in money market instruments and cash. As of December 31, 2025, the fund was approximately 65% invested in equity securities, 31% invested in debt securities and 4% invested in money market instruments and cash. The proportion of equities, debt and money market securities held by the underlying fund varies with market conditions and the investment advisers assessment of their relative attractiveness as investment opportunities. The underlying fund may invest up to 15% of its assets in common stocks and other equity securities of issuers domiciled outside the United States and up to 5% of its assets in debt securities tied economically to countries outside the United States.
In addition, the underlying fund may invest up to 25% of its debt assets in lower quality debt securities (rated Ba1 or below and BB+ or below by Nationally Recognized Statistical Rating Organizations designated by the funds investment adviser or unrated but determined to be of equivalent quality by the funds investment adviser). Such securities are sometimes referred to as junk bonds. The fund employs a risk-management overlay referred to in this prospectus as the managed risk strategy. The managed risk strategy consists of using hedge instruments primarily exchange-traded futures contracts and/or exchange-traded put options to attempt to stabilize the volatility of the fund around a target volatility level and to seek to reduce the downside exposure of the fund. The fund employs a subadviser to select individual put options and futures contracts on equity indexes of U.S.
markets and markets outside the United States that the subadviser believes are correlated to the underlying funds equity exposure. These instruments are selected based on the subadvisers analysis of the relation of various equity indexes to the underlying funds portfolio. In addition, the subadviser will monitor liquidity levels of relevant options and futures contracts and transparency provided by exchanges as the counterparties in hedging transactions. The target volatility level will be set from time to time by the investment adviser and the subadviser and may be adjusted if deemed advisable in the judgment of the investment adviser and the subadviser. The subadviser may also seek to hedge the funds currency risk related to its exposure to equity index options and futures denominated in currencies other than the U.S.
dollar. A futures contract on an index is an agreement pursuant to which two parties agree to take or make delivery of an amount of cash linked to the value of the index at the close of the last trading day of the contract. Though similar, an option on an index gives one party the contractual right (but not the obligation) to take or make delivery of an amount of cash linked to the value of the underlying index. Because such instruments derive their respective values from the price of an underlying index, both options and futures contracts are considered derivatives. A long position in an equity index put option and a short position in an equity index futures contract are both expected to gain in value when the underlying index declines, and lose value when the underlying index rises. The subadviser regularly adjusts the level of exchange-traded options and futures contracts held by the fund to seek to manage the funds overall net risk level.
In situations of extreme market volatility, the subadviser will tend to use exchange-traded equity index options and/or futures more heavily, as such investments could significantly reduce the funds net economic exposure to equity securities. Even in periods of low volatility in the equity markets, however, the subadviser will continue to employ exchange-traded equity index put options to seek to preserve gains after favorable market conditions and to reduce losses in adverse market conditions. During such periods of low equity market volatility, the subadviser may also continue to use exchange-traded equity index futures contracts for hedging purposes, though it need not necessarily do so. In certain market conditions, the fund may also purchase exchange-traded equity index call options, write or sell exchange-traded equity index put and call options and/or take net long positions in exchange-traded equity index futures contracts.
C000117907 Holdings
Top 10 holdings of Managed Risk Asset Allocation Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| American Funds Insurance Series - Asset Allocation Fund | 97.01% |
| State Street Institutional U.S. Government Money Market Fund - Premier Class | 2.88% |
| Spx US 12/18/26 P5225 | 0.07% |
| S&p500 Emini Fut Sep26 | 0.01% |
| Spx US 09/18/26 P4750 | 0.01% |
| Spx US 12/18/26 P5100 | 0.01% |
| Spx US 12/18/26 P5125 | 0.00% |
| Spx US 12/18/26 P5000 | 0.00% |
| Spx US 12/18/26 P5175 | 0.00% |
| Spx US 09/18/26 P4850 | 0.00% |
C000117907 Portfolio Allocation
Asset-class allocation of Managed Risk Asset Allocation Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 97.0% |
| Cash & Equivalents | 2.9% |
| Derivatives | 0.1% |
C000117907 Performance
Total returns for C000117907 (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| YTD | 7.3% |
| 1 year | 14.4% |
| 3 years (annualised) | 13.2% |
| 5 years (annualised) | 6.2% |
C000117907 Risk Information
Risk metrics for C000117907, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 9.0%
C000117907 Costs and Fees
C000117907 costs about $90 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.90%
- Gross expense ratio: 0.90%
- Portfolio turnover: 15%
- Brokerage commissions: 0.00 bps of average net assets (SEC N-CEN)
C000117907 Cashflows
Over the 12 months to 2026-06, Managed Risk Asset Allocation Fund had net outflows of $568.46M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-06 | $112.58M |
| 2026-05 | −$23.27M |
| 2026-04 | −$18.01M |
| 2026-03 | −$22.43M |
| 2026-02 | −$17.42M |
| 2026-01 | −$19.02M |
C000117907 Debt Constituents
No individual debt constituents are reported in Managed Risk Asset Allocation Fund's latest SEC N-PORT filing.
C000117907 Prospectus and SEC Filings
Official Managed Risk Asset Allocation Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2026-04-30
- Prospectus (485BPOS) — filed 2025-04-30
- Prospectus (485BPOS) — filed 2024-04-30
- Portfolio holdings (N-PORT) — filed 2026-08-27
- Portfolio holdings (N-PORT) — filed 2026-05-28
- Portfolio holdings (N-PORT) — filed 2026-02-26
- Annual census (N-CEN) — filed 2026-03-16
- Annual census (N-CEN) — filed 2025-03-17
Related Funds
Other United States Large Cap Blend / Core Equity funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.