SA国际传谋

The fund invests in equities and may therefore be subject to high fluctuations in value. The fund offers no guarantee that its individual Scenario Portfolios, which are over- or underweighted in line with our assessment of the current state of the economy, perform well in the business cycle phase they are geared to. Phases of negative performance cannot be excluded. This requires the corresponding risk tolerance and capacity from investors. All investments are subject to market fluctuations. Every fund has specific risks, which can significantly increase under unusual market conditions. The fund can use derivatives, which may result in additional risks (particularly counterparty risk). This Fund may not be appropriate for investors who plan to withdraw their money before the recommended holding period disclosed in the PRIIPs KID, if available for this share class.