麻豆社

The fund invests in bonds and may therefore be subject to volatility. This requires corresponding risk tolerance and capacity. The value of a unit may fall below the purchase price. Changes in interest rates have an effect on the value of the portfolio. Every fund reveals specific risks, a description of these risks can be found in the prospectus. The fund may use derivatives which can reduce investor risks or give rise to market risks as well as potential loss due to failure of counterparty. Investment grade bonds are usually considered as carrying low to medium credit risk (i.e. potential loss due to failure of issuer). Emerging market bonds are usually subject to a high credit risk (i.e. potential loss due to failure of issuer). Pronounced fluctuations in price are characteristic of emerging economies. The fund can invest in less liquid assets that may be difficult to sell in the case of distressed markets. Other characteristics include specific risks such as lower market transparency, regulatory hurdles, illiquidity of markets as well as political and social challenges. This Fund may not be appropriate for investors who plan to withdraw their money before the recommended holding period disclosed in the PRIIPs KID, if available for this share class. Sustainability risks are environmental, social or governance events or conditions that can have a material negative effect on the return, depending on the relevant sector, industry and company exposure. Sustainability risk: the risk arising from any environmental, social or governance events or conditions that, were they to occur, could cause a material negative impact on the value of the investment.