There is no assurance that any future investments in IPOs by the Fund will have a similar effect on its future performance. International investing involves additional risks including currency risk, increased volatility of foreign securities and differences in auditing and other financial standards. Small to mid-sized company stocks are more volatile and involve more risk to principal than large company stocks. The Fund is non-diversified and can take larger positions in fewer companies as well as invest a significant portion of its assets in a particular foreign country or geographic region, increasing the overall risk profile of the Fund. The Fund was rated exclusively against US-domiciled funds.
Ratings reflect the impact of sales charges.
3 Total return figures assume reinvestment of dividends and capital gain distributions. Performance would have been lower during the specified periods if certain fees and expenses had not been waived by the Fund. Performance is for Class A shares. Other share classes are available and performance will vary due to different charges and expenses. The German MDAX Index is an unmanaged total rate of return index of 70 medium-sized German companies and is comprised of the DAX 100 Index less those companies in the DAX Index.