| Diversification risk:The Fund may be concentrated in a limited number of securities and may have concentrated exposure to one or more 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.Single country risk:The Fund invests in a single market, which can be subject to particular political and economic risks. Also the focused investment limits the room for risk diversification within the Fund, therefore the volatility may be high.Currency risk: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.Liquidity risk:Lack of liquidity may adversely affect the ease of disposal of assets. The absence of reliable pricing information in a particular security held by the Fund may make it difficult to access reliably the market value of assets.Equity risk:Equity markets may fluctuate significantly with prices rising and falling sharply, and this will have a direct impact on the Fund’s net asset value. When equity markets are extremely volatile, the Fund’s net asset value may fluctuate substantially. |