Active management risk: The portfolio seeks to outperform the benchmark through research-driven stock tilts. There may be periods where these tilts detract from performance, resulting in underperformance relative to the broader market.

Market risk: As a fully invested global equity portfolio, Equity Alpha is exposed to market fluctuations. Economic, geopolitical or sector-specific events may negatively impact equity markets and the value of your investment.

Tracking deviation risk: While the strategy maintains sector and regional neutrality, stock-level tilts may cause returns to differ from the benchmark, positively or negatively.

Currency risk: Investments are made across multiple global markets, and currency movements may affect returns.

Please do note that investment involves risk, including the possible loss of principal.