Disclosure Statement
Special Risks
International Investments: There may be specific risks associated with investing internationally such as changes in currency rates, foreign taxation, differences in auditing and financial standards, and other risks which may be associated with specific country investments.
High-Yield Bonds: There may be specific risks associated with investing in high-yield bonds related to credit worthiness, limitation on marketability of the bonds, and the ability of the borrower to repay the debt.
Concentration of Investments: There may be increased risk and volatility in concentrating investments in one economic sector or geographical region.
Indexes
Indexes are not necessarily available for investment and they are not indicative of any particular investment.
Prospectus Disclosure
For more complete information, including all fees and charges on any mutual fund or variable annuity mentioned in the foregoing report, a prospectus has been included and should be read carefully before investing.
Mutual Fund Historical Information
For more complete historical information on any mutual fund mentioned in this proposal, including 1, 3, 5, and 10 year average annual total returns, please refer to the prospectus(es) available from mutual fund companies.
Disclosures about Investment Advice And Research Reports
The information contained in research reports and market letters has been taken from trading, charting, statistical services and other sources which we believe are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Any opinions expressed reflect judgments at this date and are subject to change without notice.
Trading in derivative products such as spot foreign exchange, futures, options and contracts for differences involves substantial risks. This is due to the nature of the contracts which are usually highly "leveraged" or "geared". You may sustain a total loss greater than the amount of your initial investment. You should not trade in derivatives unless you understand the nature of the contract you are entering into and the extent of your exposure to risk. You should also be satisfied that the investments and investment strategies are suitable for you in light of your circumstances and financial position. Only trade with money you can afford to lose. Although certain derivative instruments can be utilized for the management of investment risk, some investments are unsuitable for many investors. Different instruments involve different levels of exposure to risk, and in deciding whether to trade in such instruments you should understand the nature of each specific risk before entering into any transactions with your bank or broker.
Each decision by you to do any investment transactions and each decision whether a particular investment is appropriate or proper for you is an independent decision to be taken by you. In no event should the content of this market letter be construed as an express or an implied promise, guarantee or implication by or from us that you will profit or that losses can or will be limited in any manner whatsoever. Past results are no indication of future performance.
All material conflicts of interest Under Section 260.238 (k) of the Corporations Code are disclosed regarding the investment adviser, its representatives or any of its employees, which could be reasonable expected to impair the rendering of unbiased and objective advice.
Please contact us if you have any questions, about this disclosure statement.