The Fund is subject to various risks, including: Investment and Market Risk, Management Risk, Emerging markets Risk, Equity Securities Risk, Fixed-Income Securities Risk, Interest Rate Risk, Non-Investment Grade Securities Risk, Non-U.S. Securities Risk, Government Securities Risk, Non-U.S. Government Securities Risk, Currency Risk, Preferred Stock Risk, Convertible Securities Risk, Asset-Backed Securities Risk, Credit Linked Notes Risk, Credit Default Swaps Risk, Smaller Capitalization Risk, Market Discount From Net Asset Value, Leverage Risk, Derivatives Risk, Portfolio Turnover Risk, Market Disruption Risk, Inflation Risk, Illiquid/Restricted Securities Risk, Certain Affiliations, Anti-Takeover Provisions, Secondary Market for the Fund's Shares, Lending Portfolio Securities.
Investments in equity or fixed-income securities of issuers located in countries considered to be emerging markets are considered speculative. In addition to the general risks of investing in non-U.S. securities, heightened risks of investing in emerging markets securities include: smaller market capitalization of securities markets, which may suffer periods of relative illiquidity; significant price volatility; restrictions on foreign investment; and possible restrictions on repatriation of investment income and capital. Furthermore, foreign investors may be required to register the proceeds of sales, and future economic or political crises could lead to price controls, forced mergers, expropriation or confiscatory taxation, seizure, nationalization or creation of government monopolies. The currencies of emerging market countries may experience significant declines against the U.S. dollar, and devaluation may occur subsequent to investments in these currencies by the Fund. Inflation and rapid fluctuations in inflation rates have had, and may continue to have, negative effects on the economies and securities markets of certain emerging market countries.
The risks of investing in the Fund are spelled out in the prospectus, shareholder report and other regulatory filings.