· Market
risk: The value of the securities in which the fund invests may be affected by political,
regulatory, economic and social developments. Events such as war, acts of terrorism, the spread of
infectious illness or other public health issue, recessions, or other events could have a significant
impact on the fund and its investments. Recent examples include pandemic risks related to COVID-19 and
aggressive measures taken world-wide in response by governments, including closing borders, restricting
international and domestic travel, and the imposition of prolonged quarantines of large populations,
and by businesses, including changes to operations and reducing staff.
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