Calvert Conservative Allocation Fund

The Calvert Conservative Allocation Fund functions as a "fund of funds," meaning it pursues its investment goals primarily by distributing its capital among various other Calvert-managed bond and stock portfolios. These underlying funds are carefully selected based on specific investment parameters, including the firm's responsible investing principles. Generally, the Fund allocates between 50% and 80% of its total assets to funds focused on income-generating securities, while dedicating 20% to 50% of its assets to funds primarily invested in equities. Up to 10% of the Fund's net assets may also be held in cash or highly liquid short-term money market instruments.