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(may ) Tj ET Q q 0 0 0 rg BT 407.53 333.65 Td (cause ) Tj ET Q q 0 0 0 rg BT 434.23 333.65 Td (volatility ) Tj ET Q q 0 0 0 rg BT 476.23 333.65 Td (and ) Tj ET Q q 0 0 0 rg BT 494.38 333.65 Td (uncertainty ) Tj ET Q q 0 0 0 rg BT 546.14 333.65 Td (and ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 320.45 Td (adversely ) Tj ET Q q 0 0 0 rg BT 95.10 320.45 Td (af) Tj ET Q q 0 0 0 rg BT 103.45 320.45 Td (fect ) Tj ET Q q 0 0 0 rg BT 122.89 320.45 Td (performance. ) Tj ET Q q 0 0 0 rg BT 184.16 320.45 Td (Such ) Tj ET Q q 0 0 0 rg BT 209.12 320.45 Td (adverse ) Tj ET Q q 0 0 0 rg BT 245.66 320.45 Td (ef) Tj ET Q q 0 0 0 rg BT 254.01 320.45 Td (fect ) Tj ET Q q 0 0 0 rg BT 273.45 320.45 Td (on ) Tj ET Q q 0 0 0 rg BT 287.40 320.45 Td (performance ) Tj ET Q q 0 0 0 rg BT 345.93 320.45 Td (could ) Tj ET Q q 0 0 0 rg BT 373.32 320.45 Td (include ) Tj ET Q q 0 0 0 rg BT 408.65 320.45 Td (a ) Tj ET Q q 0 0 0 rg BT 416.49 320.45 Td (decline ) Tj ET Q q 0 0 0 rg BT 451.20 320.45 Td (in ) Tj ET Q q 0 0 0 rg BT 462.71 320.45 Td (the ) Tj ET Q q 0 0 0 rg BT 479.11 320.45 Td (value ) Tj ET Q q 0 0 0 rg BT 505.88 320.45 Td (and ) Tj ET Q q 0 0 0 rg BT 524.72 320.45 Td (liquidity ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 307.25 Td (of ) Tj ET Q q 0 0 0 rg BT 60.93 307.25 Td (securities ) Tj ET Q q 0 0 0 rg BT 104.25 307.25 Td (held ) Tj ET Q q 0 0 0 rg BT 124.95 307.25 Td (by ) Tj ET Q q 0 0 0 rg BT 137.73 307.25 Td (the ) Tj ET Q q 0 0 0 rg BT 152.94 307.25 Td (Fund, ) Tj ET Q q 0 0 0 rg BT 180.07 307.25 Td (unusually ) Tj ET Q q 0 0 0 rg BT 224.62 307.25 Td (high ) Tj ET Q q 0 0 0 rg BT 245.95 307.25 Td (and ) Tj ET Q q 0 0 0 rg BT 263.60 307.25 Td (unanticipated ) Tj ET Q q 0 0 0 rg BT 324.63 307.25 Td (levels ) Tj ET Q q 0 0 0 rg BT 352.05 307.25 Td (of ) Tj ET Q q 0 0 0 rg BT 362.99 307.25 Td (redemptions, ) Tj ET Q q 0 0 0 rg BT 421.89 307.25 Td (an ) Tj ET Q q 0 0 0 rg BT 434.04 307.25 Td (increase ) Tj ET Q q 0 0 0 rg BT 471.84 307.25 Td (in ) Tj ET Q q 0 0 0 rg BT 482.17 307.25 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 522.43 307.25 Td (turnover) Tj ET Q q 0 0 0 rg BT 559.26 307.25 Td (, ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 294.05 Td (a ) Tj ET Q q 0 0 0 rg BT 57.83 294.05 Td (decrease ) Tj ET Q q 0 0 0 rg BT 98.62 294.05 Td (in ) Tj ET Q q 0 0 0 rg BT 110.12 294.05 Td (NA) Tj ET Q q 0 0 0 rg BT 124.59 294.05 Td (V) Tj ET Q q 0 0 0 rg BT 131.12 294.05 Td (, ) Tj ET Q q 0 0 0 rg BT 136.81 294.05 Td (and ) Tj ET Q q 0 0 0 rg BT 155.64 294.05 Td (an ) Tj ET Q q 0 0 0 rg BT 168.96 294.05 Td (increase ) Tj ET Q q 0 0 0 rg BT 207.94 294.05 Td (in ) Tj ET Q q 0 0 0 rg BT 219.44 294.05 Td (Fund ) Tj ET Q q 0 0 0 rg BT 245.00 294.05 Td (expenses. ) Tj ET Q q 0 0 0 rg BT 290.40 294.05 Td (It ) Tj ET Q q 0 0 0 rg BT 302.81 294.05 Td (may ) Tj ET Q q 0 0 0 rg BT 324.69 294.05 Td (also ) Tj ET Q q 0 0 0 rg BT 345.36 294.05 Td (be ) Tj ET Q q 0 0 0 rg BT 358.68 294.05 Td (unusually ) Tj ET Q q 0 0 0 rg BT 404.40 294.05 Td (dif) Tj ET Q q 0 0 0 rg BT 416.42 294.05 Td (ficult ) Tj ET Q q 0 0 0 rg BT 442.58 294.05 Td (to ) Tj ET Q q 0 0 0 rg BT 454.08 294.05 Td (identify ) Tj ET Q q 0 0 0 rg BT 491.24 294.05 Td (both ) Tj ET Q q 0 0 0 rg BT 513.73 294.05 Td (investment ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 280.85 Td (risks ) Tj ET Q q 0 0 0 rg BT 74.14 280.85 Td (and ) Tj ET Q q 0 0 0 rg BT 93.39 280.85 Td (opportunities, ) Tj ET Q q 0 0 0 rg BT 157.56 280.85 Td (in ) Tj ET Q q 0 0 0 rg BT 169.48 280.85 Td (which ) Tj ET Q q 0 0 0 rg BT 199.72 280.85 Td (case ) Tj ET Q q 0 0 0 rg BT 222.01 280.85 Td (investment ) Tj ET Q q 0 0 0 rg BT 273.65 280.85 Td (goals ) Tj ET Q q 0 0 0 rg BT 300.23 280.85 Td (may ) Tj ET Q q 0 0 0 rg BT 322.53 280.85 Td (not ) Tj ET Q q 0 0 0 rg BT 339.95 280.85 Td (be ) Tj ET Q q 0 0 0 rg BT 353.70 280.85 Td (met. ) Tj ET Q q 0 0 0 rg BT 376.31 280.85 Td (Market ) Tj ET Q q 0 0 0 rg BT 414.18 280.85 Td (events ) Tj ET Q q 0 0 0 rg BT 445.65 280.85 Td (may ) Tj ET Q q 0 0 0 rg BT 467.95 280.85 Td (af) Tj ET Q q 0 0 0 rg BT 476.30 280.85 Td (fect ) Tj ET Q q 0 0 0 rg BT 496.15 280.85 Td (a ) Tj ET Q q 0 0 0 rg BT 504.39 280.85 Td (single ) Tj ET Q q 0 0 0 rg BT 534.03 280.85 Td (issuer) Tj ET Q q 0 0 0 rg BT 559.25 280.85 Td (, ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 267.65 Td (industry) Tj ET Q q 0 0 0 rg BT 85.34 267.65 Td (, ) Tj ET Q q 0 0 0 rg BT 90.90 267.65 Td (sector) Tj ET Q q 0 0 0 rg BT 116.72 267.65 Td (, ) Tj ET Q q 0 0 0 rg BT 122.27 267.65 Td (or ) Tj ET Q q 0 0 0 rg BT 134.24 267.65 Td (the ) Tj ET Q q 0 0 0 rg BT 150.48 267.65 Td (market ) Tj ET Q q 0 0 0 rg BT 183.83 267.65 Td (as ) Tj ET Q q 0 0 0 rg BT 195.79 267.65 Td (a ) Tj ET Q q 0 0 0 rg BT 203.48 267.65 Td (whole. ) Tj ET Q q 0 0 0 rg BT 235.92 267.65 Td (In ) Tj ET Q q 0 0 0 rg BT 250.63 267.65 Td (addition, ) Tj ET Q q 0 0 0 rg BT 292.24 267.65 Td (because ) Tj ET Q q 0 0 0 rg BT 329.85 267.65 Td (of ) Tj ET Q q 0 0 0 rg BT 341.82 267.65 Td (interdependencies ) Tj ET Q q 0 0 0 rg BT 424.03 267.65 Td (between ) Tj ET Q q 0 0 0 rg BT 463.48 267.65 Td (markets, ) Tj ET Q q 0 0 0 rg BT 503.85 267.65 Td (events ) Tj ET Q q 0 0 0 rg BT 534.76 267.65 Td (in ) Tj ET Q q 0 0 0 rg BT 546.12 267.65 Td (one ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 254.45 Td (market ) Tj ET Q q 0 0 0 rg BT 83.65 254.45 Td (may ) Tj ET Q q 0 0 0 rg BT 105.71 254.45 Td (adversely ) Tj ET Q q 0 0 0 rg BT 150.97 254.45 Td (impact ) Tj ET Q q 0 0 0 rg BT 184.01 254.45 Td (markets ) Tj ET Q q 0 0 0 rg BT 221.95 254.45 Td (or ) Tj ET Q q 0 0 0 rg BT 234.23 254.45 Td (issuers ) Tj ET Q q 0 0 0 rg BT 267.28 254.45 Td (in ) Tj ET Q q 0 0 0 rg BT 278.95 254.45 Td (which ) Tj ET Q q 0 0 0 rg BT 308.95 254.45 Td (the ) Tj ET Q q 0 0 0 rg BT 325.50 254.45 Td (Fund ) Tj ET Q q 0 0 0 rg BT 351.23 254.45 Td (invests ) Tj ET Q q 0 0 0 rg BT 384.90 254.45 Td (in ) Tj ET Q q 0 0 0 rg BT 396.57 254.45 Td (unforeseen ) Tj ET Q q 0 0 0 rg BT 447.94 254.45 Td (ways. ) Tj ET Q q 0 0 0 rg BT 476.19 254.45 Td (T) Tj ET Q q 0 0 0 rg BT 482.52 254.45 Td (raditionally ) Tj ET Q q 0 0 0 rg BT 536.34 254.45 Td (liquid ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 241.25 Td (investments ) Tj ET Q q 0 0 0 rg BT 106.44 241.25 Td (may ) Tj ET Q q 0 0 0 rg BT 129.28 241.25 Td (experience ) Tj ET Q q 0 0 0 rg BT 180.80 241.25 Td (periods ) Tj ET Q q 0 0 0 rg BT 217.08 241.25 Td (of ) Tj ET Q q 0 0 0 rg BT 230.14 241.25 Td (diminished ) Tj ET Q q 0 0 0 rg BT 282.92 241.25 Td (liquidity) Tj ET Q q 0 0 0 rg BT 319.48 241.25 Td (. ) Tj ET Q q 0 0 0 rg BT 326.13 241.25 Td (During ) Tj ET Q q 0 0 0 rg BT 361.19 241.25 Td (a ) Tj ET Q q 0 0 0 rg BT 369.96 241.25 Td (general ) Tj ET Q q 0 0 0 rg BT 406.22 241.25 Td (downturn ) Tj ET Q q 0 0 0 rg BT 452.28 241.25 Td (in ) Tj ET Q q 0 0 0 rg BT 464.73 241.25 Td (the ) Tj ET Q q 0 0 0 rg BT 482.06 241.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 524.43 241.25 Td (markets, ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 228.05 Td (multiple ) Tj ET Q q 0 0 0 rg BT 89.93 228.05 Td (asset ) Tj ET Q q 0 0 0 rg BT 114.58 228.05 Td (classes ) Tj ET Q q 0 0 0 rg BT 148.39 228.05 Td (may ) Tj ET Q q 0 0 0 rg BT 170.59 228.05 Td (decline ) Tj ET Q q 0 0 0 rg BT 205.62 228.05 Td (in ) Tj ET Q q 0 0 0 rg BT 217.44 228.05 Td (value ) Tj ET Q q 0 0 0 rg BT 244.52 228.05 Td (and ) Tj ET Q q 0 0 0 rg BT 263.67 228.05 Td (the ) Tj ET Q q 0 0 0 rg BT 280.38 228.05 Td (Fund ) Tj ET Q q 0 0 0 rg BT 306.26 228.05 Td (may ) Tj ET Q q 0 0 0 rg BT 328.46 228.05 Td (lose ) Tj ET Q q 0 0 0 rg BT 349.45 228.05 Td (value, ) Tj ET Q q 0 0 0 rg BT 379.29 228.05 Td (regardless ) Tj ET Q q 0 0 0 rg BT 427.14 228.05 Td (of ) Tj ET Q q 0 0 0 rg BT 439.57 228.05 Td (the ) Tj ET Q q 0 0 0 rg BT 456.27 228.05 Td (individual ) Tj ET Q q 0 0 0 rg BT 504.15 228.05 Td (results ) Tj ET Q q 0 0 0 rg BT 536.13 228.05 Td (of ) Tj ET Q q 0 0 0 rg BT 548.56 228.05 Td (the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 214.85 Td (securities ) Tj ET Q q 0 0 0 rg BT 94.64 214.85 Td (and ) Tj ET Q q 0 0 0 rg BT 113.63 214.85 Td (other ) Tj ET Q q 0 0 0 rg BT 139.33 214.85 Td (instruments ) Tj ET Q q 0 0 0 rg BT 193.77 214.85 Td (in ) Tj ET Q q 0 0 0 rg BT 205.43 214.85 Td (which ) Tj ET Q q 0 0 0 rg BT 235.41 214.85 Td (the ) Tj ET Q q 0 0 0 rg BT 251.95 214.85 Td (Fund ) Tj ET Q q 0 0 0 rg BT 277.67 214.85 Td (invests. ) Tj ET Q q 0 0 0 rg BT 314.08 214.85 Td (It ) Tj ET Q q 0 0 0 rg BT 323.91 214.85 Td (is ) Tj ET Q q 0 0 0 rg BT 334.35 214.85 Td (impossible ) Tj ET Q q 0 0 0 rg BT 385.12 214.85 Td (to ) Tj ET Q q 0 0 0 rg BT 396.78 214.85 Td (predict ) Tj ET Q q 0 0 0 rg BT 430.42 214.85 Td (whether ) Tj ET Q q 0 0 0 rg BT 468.95 214.85 Td (or ) Tj ET Q q 0 0 0 rg BT 481.22 214.85 Td (for ) Tj ET Q q 0 0 0 rg BT 497.15 214.85 Td (how ) Tj ET Q q 0 0 0 rg BT 519.19 214.85 Td (long ) Tj ET Q q 0 0 0 rg BT 541.85 214.85 Td (such ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 201.65 Td (market ) Tj ET Q q 0 0 0 rg BT 83.80 201.65 Td (events ) Tj ET Q q 0 0 0 rg BT 115.16 201.65 Td (will ) Tj ET Q q 0 0 0 rg BT 135.53 201.65 Td (continue, ) Tj ET Q q 0 0 0 rg BT 179.41 201.65 Td (particularly ) Tj ET Q q 0 0 0 rg BT 233.37 201.65 Td (if ) Tj ET Q q 0 0 0 rg BT 243.34 201.65 Td (they ) Tj ET Q q 0 0 0 rg BT 265.54 201.65 Td (are ) Tj ET Q q 0 0 0 rg BT 282.23 201.65 Td (unprecedented, ) Tj ET Q q 0 0 0 rg BT 352.37 201.65 Td (unforeseen ) Tj ET Q q 0 0 0 rg BT 403.88 201.65 Td (or ) Tj ET Q q 0 0 0 rg BT 416.30 201.65 Td (widespread ) Tj ET Q q 0 0 0 rg BT 469.65 201.65 Td (events ) Tj ET Q q 0 0 0 rg BT 501.01 201.65 Td (or ) Tj ET Q q 0 0 0 rg BT 513.43 201.65 Td (conditions. ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 188.45 Td (Therefore ) Tj ET Q q 0 0 0 rg BT 95.58 188.45 Td (it ) Tj ET Q q 0 0 0 rg BT 103.92 188.45 Td (is ) Tj ET Q q 0 0 0 rg BT 113.48 188.45 Td (important ) Tj ET Q q 0 0 0 rg BT 158.48 188.45 Td (to ) Tj ET Q q 0 0 0 rg BT 169.26 188.45 Td (understand ) Tj ET Q q 0 0 0 rg BT 219.75 188.45 Td (that ) Tj ET Q q 0 0 0 rg BT 238.48 188.45 Td (the ) Tj ET Q q 0 0 0 rg BT 254.14 188.45 Td (value ) Tj ET Q q 0 0 0 rg BT 280.19 188.45 Td (of ) Tj ET Q q 0 0 0 rg BT 291.58 188.45 Td (your ) Tj ET Q q 0 0 0 rg BT 313.97 188.45 Td (investment ) Tj ET Q q 0 0 0 rg BT 364.46 188.45 Td (may ) Tj ET Q q 0 0 0 rg BT 385.63 188.45 Td (fall, ) Tj ET Q q 0 0 0 rg BT 405.26 188.45 Td (sometimes ) Tj ET Q q 0 0 0 rg BT 454.54 188.45 Td (sharply ) Tj ET Q q 0 0 0 rg BT 489.15 188.45 Td (and ) Tj ET Q q 0 0 0 rg BT 507.26 188.45 Td (for ) Tj ET Q q 0 0 0 rg BT 522.31 188.45 Td (extended ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 175.20 Td (periods, ) Tj ET Q q 0 0 0 rg BT 87.51 175.20 Td (and ) Tj ET Q q 0 0 0 rg BT 105.77 175.20 Td (you ) Tj ET Q q 0 0 0 rg BT 124.65 175.20 Td (could ) Tj ET Q q 0 0 0 rg BT 151.46 175.20 Td (lose ) Tj ET Q q 0 0 0 rg BT 171.56 175.20 Td (money) Tj ET Q q 0 0 0 rg BT 200.78 175.20 Td (. ) Tj ET Q q 0 0 0 rg BT 205.91 175.20 Td (Governmental ) Tj ET Q q 0 0 0 rg BT 271.21 175.20 Td (and ) Tj ET Q q 0 0 0 rg BT 289.47 175.20 Td (regulatory ) Tj ET Q q 0 0 0 rg BT 337.05 175.20 Td (actions, ) Tj ET Q q 0 0 0 rg BT 373.33 175.20 Td (including ) Tj ET Q q 0 0 0 rg BT 417.26 175.20 Td (tax ) Tj ET Q q 0 0 0 rg BT 433.07 175.20 Td (law ) Tj ET Q q 0 0 0 rg BT 451.33 175.20 Td (changes, ) Tj ET Q q 0 0 0 rg BT 491.89 175.20 Td (may ) Tj ET Q q 0 0 0 rg BT 513.20 175.20 Td (also ) Tj ET Q q 0 0 0 rg BT 533.30 175.20 Td (impair ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 162.00 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 90.64 162.00 Td (management ) Tj ET Q q 0 0 0 rg BT 148.98 162.00 Td (and ) Tj ET Q q 0 0 0 rg BT 167.01 162.00 Td (have ) Tj ET Q q 0 0 0 rg BT 189.92 162.00 Td (unexpected ) Tj ET Q q 0 0 0 rg BT 242.15 162.00 Td (or ) Tj ET Q q 0 0 0 rg BT 253.46 162.00 Td (adverse ) Tj ET Q q 0 0 0 rg BT 289.20 162.00 Td (consequences ) Tj ET Q q 0 0 0 rg BT 351.82 162.00 Td (on ) Tj ET Q q 0 0 0 rg BT 364.97 162.00 Td (particular ) Tj ET Q q 0 0 0 rg BT 409.25 162.00 Td (markets, ) Tj ET Q q 0 0 0 rg BT 448.97 162.00 Td (strategies, ) Tj ET Q q 0 0 0 rg BT 495.41 162.00 Td (or ) Tj ET Q q 0 0 0 rg BT 506.72 162.00 Td (investments. ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 148.80 Td (In ) Tj ET Q q 0 0 0 rg BT 62.01 148.80 Td (addition, ) Tj ET Q q 0 0 0 rg BT 103.66 148.80 Td (unexpected ) Tj ET Q q 0 0 0 rg BT 156.60 148.80 Td (events ) Tj ET Q q 0 0 0 rg BT 187.55 148.80 Td (and ) Tj ET Q q 0 0 0 rg BT 206.28 148.80 Td (their ) Tj ET Q q 0 0 0 rg BT 229.29 148.80 Td (aftermaths, ) Tj ET Q q 0 0 0 rg BT 281.31 148.80 Td (such ) Tj ET Q q 0 0 0 rg BT 304.32 148.80 Td (as ) Tj ET Q q 0 0 0 rg BT 316.34 148.80 Td (the ) Tj ET Q q 0 0 0 rg BT 332.62 148.80 Td (spread ) Tj ET Q q 0 0 0 rg BT 364.18 148.80 Td (of ) Tj ET Q q 0 0 0 rg BT 376.19 148.80 Td (deadly ) Tj ET Q q 0 0 0 rg BT 408.37 148.80 Td (diseases; ) Tj ET Q q 0 0 0 rg BT 450.32 148.80 Td (natural, ) Tj ET Q q 0 0 0 rg BT 486.46 148.80 Td (environmental ) Tj ET Q q 0 0 0 rg BT 552.84 148.80 Td (or ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 135.60 Td (man-made ) Tj ET Q q 0 0 0 rg BT 99.31 135.60 Td (disasters; ) Tj ET Q q 0 0 0 rg BT 143.13 135.60 Td (financial, ) Tj ET Q q 0 0 0 rg BT 187.24 135.60 Td (political ) Tj ET Q q 0 0 0 rg BT 226.17 135.60 Td (or ) Tj ET Q q 0 0 0 rg BT 238.22 135.60 Td (social ) Tj ET Q q 0 0 0 rg BT 266.76 135.60 Td (disruptions; ) Tj ET Q q 0 0 0 rg BT 321.59 135.60 Td (terrorism ) Tj ET Q q 0 0 0 rg BT 364.80 135.60 Td (and ) Tj ET Q q 0 0 0 rg BT 383.57 135.60 Td (war; ) Tj ET Q q 0 0 0 rg BT 406.00 135.60 Td (and ) Tj ET Q q 0 0 0 rg BT 424.76 135.60 Td (other ) Tj ET Q q 0 0 0 rg BT 450.25 135.60 Td (tragedies ) Tj ET Q q 0 0 0 rg BT 492.84 135.60 Td (or ) Tj ET Q q 0 0 0 rg BT 504.88 135.60 Td (catastrophes, ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 122.40 Td (can ) Tj ET Q q 0 0 0 rg BT 68.80 122.40 Td (cause ) Tj ET Q q 0 0 0 rg BT 96.76 122.40 Td (investor ) Tj ET Q q 0 0 0 rg BT 135.73 122.40 Td (fear ) Tj ET Q q 0 0 0 rg BT 156.35 122.40 Td (and ) Tj ET Q q 0 0 0 rg BT 175.77 122.40 Td (panic, ) Tj ET Q q 0 0 0 rg BT 205.87 122.40 Td (which ) Tj ET Q q 0 0 0 rg BT 236.29 122.40 Td (can ) Tj ET Q q 0 0 0 rg BT 255.08 122.40 Td (adversely ) Tj ET Q q 0 0 0 rg BT 300.76 122.40 Td (af) Tj ET Q q 0 0 0 rg BT 309.11 122.40 Td (fect ) Tj ET Q q 0 0 0 rg BT 329.13 122.40 Td (the ) Tj ET Q q 0 0 0 rg BT 346.10 122.40 Td (economies ) Tj ET Q q 0 0 0 rg BT 396.67 122.40 Td (of ) Tj ET Q q 0 0 0 rg BT 409.37 122.40 Td (many ) Tj ET Q q 0 0 0 rg BT 437.34 122.40 Td (companies, ) Tj ET Q q 0 0 0 rg BT 490.66 122.40 Td (sectors, ) Tj ET Q q 0 0 0 rg BT 527.49 122.40 Td (nations, ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 109.20 Td (regions ) Tj ET Q q 0 0 0 rg BT 85.13 109.20 Td (and ) Tj ET Q q 0 0 0 rg BT 103.76 109.20 Td (the ) Tj ET Q q 0 0 0 rg BT 119.95 109.20 Td (market ) Tj ET Q q 0 0 0 rg BT 153.24 109.20 Td (in ) Tj ET Q q 0 0 0 rg BT 164.55 109.20 Td (general, ) Tj ET Q q 0 0 0 rg BT 202.42 109.20 Td (in ) Tj ET Q q 0 0 0 rg BT 213.72 109.20 Td (ways ) Tj ET Q q 0 0 0 rg BT 239.08 109.20 Td (that ) Tj ET Q q 0 0 0 rg BT 258.32 109.20 Td (cannot ) Tj ET Q q 0 0 0 rg BT 290.39 109.20 Td (necessarily ) Tj ET Q q 0 0 0 rg BT 342.01 109.20 Td (be ) Tj ET Q q 0 0 0 rg BT 355.14 109.20 Td (foreseen.) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 286.75 82.80 Td (* * * * *) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 192.40 56.40 Td (Please r) Tj ET Q q 0 0 0 rg BT 229.15 56.40 Td (etain this supplement for) Tj ET Q q 0 0 0 rg BT 345.99 56.40 Td ( your) Tj ET Q q 0 0 0 rg BT 370.54 56.40 Td ( r) Tj ET Q q 0 0 0 rg BT 377.97 56.40 Td (efer) Tj ET Q q 0 0 0 rg BT 396.08 56.40 Td (ence.) Tj ET Q endstream endobj 5 0 obj <> endobj 6 0 obj <> stream /GS0 gs q 374.00 0 0 59.00 119.00 690.00 cm /I2 Do Q BT /F1 10.00 Tf ET BT /F2 11.00 Tf ET q 0 0 0 rg BT 219.10 676.80 Td (The ) Tj ET Q q 0 0 0 rg BT 239.58 676.80 Td (American ) Tj ET Q q 0 0 0 rg BT 288.56 676.80 Td (T) Tj ET Q q 0 0 0 rg BT 295.08 676.80 Td (rust ) Tj ET Q q 0 0 0 rg BT 316.17 676.80 Td (Allegiance Fund) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 251.60 663.60 Td (Investor) Tj ET Q q 0 0 0 rg BT 290.51 663.60 Td ( Class: ) Tj ET Q q 0 0 0 rg BT 324.13 663.60 Td (A) Tj ET Q q 0 0 0 rg BT 331.25 663.60 Td (T) Tj ET Q q 0 0 0 rg BT 337.77 663.60 Td (AFX) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 214.60 637.20 Td (Supplement dated May 22, 2020, to the) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 151.80 624.00 Td (Statement of ) Tj ET Q q 0 0 0 rg BT 213.51 624.00 Td (Additional Information \("SAI"\) dated June 28, 2019) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 50.00 597.60 Td (The ) Tj ET Q q 0 0 0 rg BT 69.24 597.60 Td (r) Tj ET Q q 0 0 0 rg BT 73.11 597.60 Td (elevant ) Tj ET Q q 0 0 0 rg BT 107.61 597.60 Td (information ) Tj ET Q q 0 0 0 rg BT 162.30 597.60 Td (under ) Tj ET Q q 0 0 0 rg BT 190.70 597.60 Td (the ) Tj ET Q q 0 0 0 rg BT 206.88 597.60 Td (section ) Tj ET Q q 0 0 0 rg BT 240.78 597.60 Td (entitled ) Tj ET Q q 0 0 0 rg BT 276.50 597.60 Td ("Investment ) Tj ET Q q 0 0 0 rg BT 331.51 597.60 Td (Policies ) Tj ET Q q 0 0 0 rg BT 369.68 597.60 Td (and ) Tj ET Q q 0 0 0 rg BT 388.92 597.60 Td (Risks" ) Tj ET Q q 0 0 0 rg BT 419.50 597.60 Td (on ) Tj ET Q q 0 0 0 rg BT 433.24 597.60 Td (page ) Tj ET Q q 0 0 0 rg BT 457.36 597.60 Td (B-2 ) Tj ET Q q 0 0 0 rg BT 475.98 597.60 Td (of ) Tj ET Q q 0 0 0 rg BT 487.28 597.60 Td (the ) Tj ET Q q 0 0 0 rg BT 503.45 597.60 Td (Fund's ) Tj ET Q q 0 0 0 rg BT 536.05 597.60 Td (SAI ) Tj ET Q q 0 0 0 rg BT 554.67 597.60 Td (is ) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 50.00 584.40 Td (deleted ) Tj ET Q q 0 0 0 rg BT 84.51 584.40 Td (and ) Tj ET 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Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 386.45 Td (Governmental ) Tj ET Q q 0 0 0 rg BT 116.37 386.45 Td (and ) Tj ET Q q 0 0 0 rg BT 135.71 386.45 Td (regulatory ) Tj ET Q q 0 0 0 rg BT 184.36 386.45 Td (actions, ) Tj ET Q q 0 0 0 rg BT 221.72 386.45 Td (including ) Tj ET Q q 0 0 0 rg BT 266.73 386.45 Td (tax ) Tj ET Q q 0 0 0 rg BT 283.62 386.45 Td (law ) Tj ET Q q 0 0 0 rg BT 302.95 386.45 Td (changes, ) Tj ET Q q 0 0 0 rg BT 344.58 386.45 Td (may ) Tj ET Q q 0 0 0 rg BT 366.97 386.45 Td (also ) Tj ET Q q 0 0 0 rg BT 388.14 386.45 Td (impair ) Tj ET Q q 0 0 0 rg BT 420.31 386.45 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 462.26 386.45 Td (management ) Tj ET Q q 0 0 0 rg BT 521.91 386.45 Td (and ) Tj ET Q q 0 0 0 rg BT 541.24 386.45 Td (have ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 50.00 373.25 Td (unexpected ) Tj ET Q q 0 0 0 rg BT 102.75 373.25 Td (or ) Tj ET Q q 0 0 0 rg BT 114.57 373.25 Td (adverse ) Tj ET Q q 0 0 0 rg BT 150.82 373.25 Td (consequences ) Tj ET Q q 0 0 0 rg BT 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