The American Funds Preservation and Income series touts an objectives-based approach and an experienced management team with improved resources. The Conservative Income portfolio’s solid mix of underlying funds add to its strength compared with the more constrained Preservation portfolio and its less inspiring lineup. The two portfolios are made available through model portfolios and separate accounts, with the Preservation portfolio also offered as a mutual fund. However, the price of the fund’s costliest shares, coupled with a competitive peer group, weigh on their long-term appeal.