The Kensington Defender Fund - Institutional (DFNDX) is a mutual fund that focuses on providing long-term capital appreciation and income through a diversified portfolio of defensive stocks. It is designed for institutional investors and aims to protect against market downturns while still generating steady returns. The fund may invest in a variety of sectors, including consumer staples, healthcare, and utilities, and may also hold a portion of its assets in fixed income securities. With a focus on risk management and a long-term investment horizon, the Kensington Defender Fund - Institutional is a suitable option for investors looking for stability and growth in their portfolio.