The Growth Allocation Index Fund (FRGAX) is a mutual fund that seeks to provide investors with long-term capital appreciation by investing in a diversified portfolio of growth-oriented stocks and bonds. The fund aims to achieve this by following an index-based approach, where it tracks the performance of a specific growth allocation index. This index is composed of a mix of stocks and bonds from various industries and sectors, providing investors with a balanced and diversified investment option. With a focus on growth, this fund may be suitable for investors with a higher risk tolerance and a long-term investment horizon.