SA国际传谋

Default risk is higher for corporate bonds than government bonds despite the credit quality of the portfolio being investment grade. Changes in interest rates affect the value of the portfolio which requires corresponding risk tolerance and capacity. Sustainability risks are environmental, social or governance events or conditions that can have a material negative effect on the return, depending on the relevant sector, industry and company exposure. Sustainability risk: the risk arising from any environmental, social or governance events or conditions that, were they to occur, could cause a material negative impact on the value of the investment. All investments are subject to market fluctuations. The strategy can invest in less liquid assets that may be difficult to sell in distressed markets. Every portfolio has specific risks, which may increase considerably in unusual market conditions and 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.