RISKS

Foreign and Emerging Market Securities Risk:

Foreign and emerging market securities may be subject to greater political, economic, environmental, credit, currency and information risks. Foreign securities may be subject to higher volatility than US securities, due to varying degrees of regulation and limited liquidity. These risks are magnified in emerging markets.

Equity Securities Risk:

Equity securities are volatile and can decline significantly in response to broad market and economic conditions.

Currency Risk:

Currency exchange rates between the US dollar and foreign currencies may cause the value of the fund's investments to decline.

Growth Stocks Risk:

Growth stocks may be more sensitive to market conditions than other equities as their prices strongly reflect future expectations.​

Small and Mid-Cap Stocks Risk:

Investments in small and midsize companies can be more volatile than those of larger companies.

Concentration Risk:

Concentrated investments in a particular industry may be more vulnerable to adverse changes in that industry or the market as a whole.