CLAIX : Calvert Moderate Allocation Fund Class I

Fund Summary

The investment seeks long-term capital appreciation and growth of income, with current income a secondary objective. The fund is a "fund of funds" that seeks to achieve its investment objectives by primarily allocating its assets among underlying Calvert income and equity funds meeting its investment criteria, including the responsible investing criteria. It typically invests 50%-80% of its net assets in funds that invest primarily in equity securities and 20% to 50% of its net assets in funds that invest primarily in income securities. The fund may also invest up to 10% of its net assets in cash and short-term money market instruments.