| Emerging markets risk:In emerging markets, the legal judicial and regulatory infrastructure is still developing but there is much legal uncertainty.Some markets may carry higher risks for investors who should therefore ensure that they understand the risks involved and are satisfied that an investment is suitable as part of their portfolio. Where the currency of the Fund varies from the investor’s home currency or where the currency of the Fund varies from the currencies of the markets in which the Fund invests, there is the prospect of additional loss/gain to the investor greater than the usual risks of investment. Lack of liquidity may adversely affect the ease of disposal of assets. When equity markets are extremely volatile,the Fund’s net asset value may fluctuate substantially.Diversification risk:The Fund may be concentrated in a limited number of securities and may have concentrated exposure to one or more countries and/or industry sectors. The Fund may be subject to greater volatility than other funds with a more diversified portfolio.Smaller companies risk:The Fund which invests in smaller companies may fluctuate in value more than other funds because of the greater potential volatility of share prices of smaller companies.Russia market risk:The relative infancy of the Russian governmental and regulatory framework may expose investors to various political and economic risks. The Russian securities market from time to time may also suffer from a lack of market efficiency and liquidity which may cause higher price volatility and market disruptions. |