Design Considerations in Multifactor Strategy Implementation
Investing involves risk, including the possible loss of principal. All investments are subject to market risk, as well as changes in interest rates and the financial conditions of companies and other factors. • Foreign investments may be more volatile and less liquid than U.S. investments and are subject to the risk of currency fluctuations and adverse political and economic developments. These risks may be greater for investments in emerging markets. • Fixed income security risks include credit, liquidity, call, duration and interest rate risk. Actual events may differ from those assumed and changes of any assumptions may have a material impact on the data discussed in this paper.
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