High Yield Fund

Risks

Mutual fund investing involves risk. Principal loss is possible. Risk factors are described in more detail in the prospectus and in the Statement of Additional Information.

The High Yield Fund invests in lower-rated and non-rated securities presents a greater risk of loss to principal and interest than higher-rated securities. Investments in debt securities typically decrease in value when interest rates rise. This risk is usually greater for longer-term debt securities.

The Fund may invest in foreign securities which will involve political, economic and currency risks, greater volatility and differences in accounting methods.