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Emerging Markets:

Invests in equity or debt of emerging (less mature) markets which tend to have higher inflation and volatile growth. Short selling is not permitted in many emerging markets, and, therefore, effective hedging is often not available, although Brady debt can be partially hedged via U.S. Treasury futures and currency markets.

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Disclaimer: This material and any views expressed herein are provided for informational purposes only and should not be construed as an endorsement or inducement of any investor advisory services or as an offer to sell or the solicitation of an offer to purchase any securities. Before seeking any advisor's services or investing any money, investors must read and examine thoroughly the respective disclosure document, offering memorandum or prospectus. Securities products and services are offered through Brewer Financial Services, LLC (member FINRA, SIPC)