Key investment risks
Objective/Performance Risk: There is no guarantee that the Strategy will achieve its objectives.
Currency Risk: This Strategy invests in international markets which means it is exposed to changes in currency rates which could affect the value of the portfolio.
Derivatives Risk: Derivatives are highly sensitive to changes in the value of the asset from which their value is derived. A small movement in the value of the underlying asset can cause a large movement in the value of the derivative. This can increase the sizes of losses and gains, causing the value of your investment to fluctuate. When using derivatives, the Strategy can lose significantly more than the amount it has invested in derivatives.
Changes in Interest Rates & Inflation Risk: Investments in bonds/money market securities are affected by interest rates and inflation trends which may negatively affect the value of the portfolio.
Credit Ratings and Unrated Securities Risk: Bonds with a low credit rating or unrated bonds have a greater risk of default. These investments may negatively affect the value of the portfolio.
Credit Risk: The issuer of a security held by the Strategy may not pay income or repay capital to the portfolio when due.
Emerging Markets Risk: Emerging Markets have additional risks due to less-developed market practices.
Liquidity Risk: The Strategy may not always find another party willing to purchase an asset that it wants to sell which could impact the Strategy’s ability to sell the asset or to sell the asset at its current value.
Counterparty Risk: The insolvency of any institutions providing services such as custody of assets or acting as a counterparty to derivatives or other contractual arrangements, may expose the Strategy to financial loss.
Past performance is not a guide to future performance.
The value of investments can fall. Investors may not get back the amount invested. Income from investments may vary and is not guaranteed.