Risk Considerations
Unit investment trusts are designed to be held until trust termination. If redeemed early, additional fees, such as remaining deferred sales charges, will be assessed.
Equity Risk. An investment in a portfolio containing common stocks is subject to certain risks, such as an economic recession and the possible deterioration of either the financial condition of the issuers of the equity securities or the general condition of the stock market.
China Concentration Risk. China's emerging market economy may be subject to over-extension of credit, currency devaluations and restrictions, decreased exports, economic recession, a reversal of economic liberalization, political unrest or changes in China's trading status. A deterioration of the relationship with the United States could have negative implications on issuers from these countries.
Emerging Markets Risk. Risks associated with investing in non-U.S. securities may be more pronounced in emerging and developing markets where the securities markets are substantially smaller, less developed, less liquid, less regulated, and more volatile than the U.S. and developed non-U.S. markets.
Foreign Securities Risk. Securities of non-U.S. issuers are subject to additional risks, including currency fluctuations, political risks, withholding, the lack of adequate financial information, and exchange control restrictions impacting non-U.S. issuers.
Hong Kong Concentration Risk. A significant percentage of securities held by the portfolio are issued by companies in Hong Kong and China. Hong Kong and China's emerging market economies may be subject to over-extension of credit, currency devaluations and restrictions, decreased exports, economic recession, a reversal of economic liberalization, political unrest or changes in Hong Kong and China's trading status. A deterioration of the relationship between Hong Kong or China and the United States could have negative implications on issuers from Hong Kong and China.
Volatility Risk. The value of the securities held by the trust may be subject to steep declines or increased volatility due to changes in performance or perception of the issuers.
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