Life-cycle funds are also known as target date funds. These are mixed funds that combine shares with bonds. At the beginning, they focus on the potential returns offered by shares in the long term.
They have an official maturity date or a target date. This is the point in time when you intend to free up your capital to achieve your goals. In the latter case the fund simply continues to run.
However, as time passes and the target or maturity date approaches, both variants will invest more defensively by assigning less weight to shares in favour of fixed-income investments.