Fixed income securities are subject to certain risks including, but not limited to: interest rate (changes in interest rates may cause a decline in the market value of an investment), credit (changes in the financial condition of the issuer, borrower, counterparty, or underlying collateral), prepayment (debt issuers may repay or refinance their loans or obligations earlier than anticipated), and extension (principal repayments may not occur as quickly as anticipated, causing the expected maturity of a security to increase).Derivatives are speculative and may hurt a Fund's performance. Derivatives present the risk of disproportionately increased losses and/or reduced gains when the financial asset or measure, to which the derivative is linked, changes in unexpected ways.
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