· 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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