An investor should consider the Fund’s investment objectives, risks and fees and expenses carefully before investing. This and other important information can be found in the Fund’s prospectus and summary prospectus, which you can obtain by calling 877.628.2583. Please read the prospectus and summary prospectus carefully before making an investment. Investments could result in loss of principal.
All stocks are subject to investment risk, including the risk that they may lose value. The value of an individual security or particular type of security can be more volatile than, and its performance can differ than, the market as a whole. The market’s behavior is unpredictable, particularly in the short term.
Small- and mid-capitalization stocks may have limited operating histories and resources and may trade less frequently and in lower volume than larger company stocks, which may make them more volatile and vulnerable to financial and other risks. Compared with smaller companies, large-cap companies may be less responsive to changes and opportunities and may lag other types of stock in performance.
Investing more heavily in one or more sectors presents a more concentrated risk. Individual sectors tend to move up and down more than the broader market. Utility companies are sensitive to changes in interest rates and other economic conditions, government regulation, demand for services, and the cost and delay of technology.
The properties held by REITs could fall in value for reasons such as declines in rental income, poor property management, environmental liabilities, uninsured damage, increased competition or changes in real estate tax laws.
The value of a convertible security increases or decreases with the price of the underlying common stock.
Derivatives involve risks different from, or greater than, the risks associated with investing in more traditional investments. There can be no guarantee that the use of options will increase the Fund’s return or income.
A “covered call” involves selling a call option while simultaneously holding an equivalent position in the underlying security.
The value of Investments that are sensitive to interest rates, including dividend-paying common stocks (e.g.,REIT common shares) and bonds, generally decline when interest rates rise.
Investing in foreign securities involves greater risks than investing in securities of U.S. issuers, including currency fluctuations, potential political instability, restrictions on foreign investors and withdrawals, burdensome tax regimes that could adversely affect security prices, less regulation, less market liquidity and less stringent auditing and legal standards. Changes in currency exchange rates could erase investment gains or add to investment losses
Although they may add diversification foreign securities can be riskier because foreign markets tend to be more volatile and currency exchange rates fluctuate. Currency fluctuations could negatively impact investment gains or add to investment losses.
There are greater credit risks associated with investments in high-yield bonds. A bond’s value may fluctuate based on interest rates, market conditions, credit quality, political events, currency devaluation and other factors. You may have a gain or a loss if you sell your bonds prior to maturity. High Yield Bonds are not suitable for all investors and the risks of these bonds should be weighed against the potential rewards. The properties held by REITs could fall in value for a variety of reasons, such as declines in rental income, poor property management, environmental liabilities, uninsured damage, increased competition, or changes in real estate tax laws. There is also a risk that REIT stock prices overall will decline over short or even long periods because of rising interest rates. Convertible bonds tend to offer a lower rate of return compared to other bonds in exchange funds for the value of the option to convert the bond into stock.
