Market Risk & Manager Risk: An investment in the Fund is subject to fluctuations in value due to business and economic developments. The Fund is subject to manager risk which is the risk of poor security selection or focus on securities in a particular sector, category, or group of companies that underperform relevant benchmarks or other funds with a similar investment objective.
Sector Risk: If the Fund’s portfolio is overweighted in a certain sector, any negative development affecting that sector will have a greater impact on the Fund than a fund that is not overweighted in that sector. For example, to the extent the Fund is overweighted in the technology sector or the health care sector, it will be affected by developments affecting the applicable sector. These sectors are subject to changing government regulations that may limit profits and restrict services offered. Companies in these sectors also may be significantly affected by intense competition. In addition, technology and health care products may be subject to rapid obsolescence.