麻豆社

The fund invests in equities as well as bonds with lower credit ratings or longer duration and can undergo major value fluctuations. The fund may hold substantial assets in fixed income with higher issuer default or liquidity risk. Its value will also be impacted by interest rate and credit spread movements. Due to the sale of call options, the fund can lag behind general growth levels during bull market phases. Despite the dynamic asset allocation adapting to various market cycle stages, the fund may nevertheless fail to meet its target income range. The combination of a medium to high risk profile and regular income payments out of the fund (out of distributing classes), results in a heightened risk of experiencing a diminution in value over time. The fund may use derivatives which can reduce investment risk or give rise to additional risks (including the risk of counterparty bankruptcy). These factors presuppose an elevated risk tolerance and capacity. Every fund has specific risks which can significantly increase under unusual market conditions. A description of the fund specific risks can be found in the prospectus. 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.This share class (mdist) may make monthly, gross-of-fee distributions. As a consequence, in addition to income, this share class may also distribute capital. This can have negative tax consequences for investors in some jurisdictions. Investors should seek their own tax advice.