The phrase "higher allocation" means that more resources or a greater amount of something is being allocated or given to someone or something. Full definition
You might also think you have a much higher allocation in one asset class, but in reality, you're under - allocated. (financialsamurai.com)
However due to high allocation charges at initial period, your fund value would be less and you may not see much gains in the amount you invested through premiums. (myinvestmentideas.com)
Target - date funds with high allocations to equities tend to be more tax - efficient (few capital gains and dividend distributions) making them more suited for taxable accounts. (mutualfunds.com)