General Investment Risk
The value of your investment and any income from it is not guaranteed and may go down as well as up. On sale, you may not get back what you originally invested, even if the share price has risen, because of the effect of the initial charge. You should regard your investment as long term.
There is a risk that the Fund's assets are lost, and that access to them is compromised, as a result of insolvency, negligence, misuse of assets, fraud, poor administration or poor record keeping by the Custodian. This risk is greater in emerging markets and is borne by the Fund.
Smaller Immature Companies
Investment in smaller, immature companies is generally considered higher risk given their less developed business models and less established positions. Changes in their share prices may be greater than those of larger, more established companies and the shares may be harder to sell. In addition, immature companies may not do as well in periods of adverse economic conditions.
The Fund invests in emerging markets where difficulties in dealing, settlement and custody could arise, resulting in a negative impact on the value of your investment.
Where the Fund invests in overseas assets that are priced in foreign currencies, changes in the rates of exchange may cause the value of your shares to go down.
A dilution adjustment may apply when you buy or sell shares in the Fund. This is applied to the share price and may reduce the return on your investment.
Fees from Revenue
Where possible, all charges are taken from the Fund's revenue. Where there is insufficient revenue, the remainder will be taken from capital. This will reduce the capital value of your investment.
Market values for securities which have become difficult to trade may not be readily available, and there can be no assurance that any value assigned to them will reflect the price the Fund might receive upon their sale.
Tax rates and the tax treatment of OEICs can change at any time.
In Specie Transfer
We may, at our discretion, for example if you sell a significant value of shares or in difficult market conditions, notify our decision to transfer a proportionate share of the assets of the Fund to you instead of paying cash. The assets will be valued at the valuation point following your instruction to sell however this value may differ at the time you receive or dispose of the assets.