Investment Objective

The Fund seeks long-term capital appreciation by investing primarily in Latin American equity securities.

Investment Policies

The Fund seeks to achieve its objective by investing at least 80% of the value of its net assets in equity securities of Latin American companies.

Risk Considerations

International investing entails special risk considerations, including currency fluctuations, lower liquidity, economic and political risks, and differences in accounting methods; these risks are generally heightened for emerging market investments.

There are also risks associated with investing in Latin America, including the risk of investing in a single country fund. Concentrating investments in the Latin America region subjects the Fund to more volatility and greater risk of loss than geographically diverse funds.

Equity stocks of small and mid-cap companies carry greater risk, and more volatility than equity stocks of larger, more established companies.