BRADESCO LATIN AMERICAN HARD CURRENCY BOND FUND INSTITUTIONAL CLASS (BHCIX) Exchange: NMFQS

DELISTED - Under normal market conditions, the Latin American Bond Fund invests at least 80% of its net assets, at the time of initial purchase, in fixed-income and floating rate debt instruments of Latin American governments, Latin American governmental entities, agencies, and other issuers the obligations of which is guaranteed by Latin America ("Quasi-Latin American Sovereigns") and Latin American companies, each of which is denominated in U.S. dollars and foreign hard currencies. "Hard currencies" are currencies in which investors have confidence and are typically currencies of economically and politically stable industrialized nations. The Fund defines Latin America as Mexico, Central America (except Belize), and South America (except French Guyana, Guyana and Suriname). In selecting investments, the Adviser uses a top-down macroeconomic analysis aiming to evaluate market drivers in terms of interest rates, foreign exchange currencies, inflation and GDP trends. The Adviser analyzes credit risks by (i) evaluating an issuer's ability to generate cash in order to meet its financial commitments of the company as well as of the specific security considered for investment by the Latin American Bond Fund; (ii) reviewing credit rating agency ratings and reports, to the extent such issuer is rated; and (iii) conducting a credit spread analysis. The evaluation of credit risk is complemented by a bottom-up perspective by means of a fundamental analysis of each individual issuer. The strategy is implemented via the establishment of model portfolios considering different levels of credit risk and/or duration followed by a close monitoring and adjustments of the limits of all variables. Latin American fixed-income and floating rate debt instruments in which the Latin American Bond Fund may invest include bonds, debt securities, and other similar instruments issued by Latin America, Quasi-Latin American sovereigns, and Latin American companies denominated in hard currency. Debt securities may include, without limitation, bonds, debentures, notes, convertible securities, commercial paper, loans and related assignments and participations, corporate debt, asset-backed securities, bank certificates of deposit, fixed time deposits, bankers' acceptances, and money market instruments including money market funds denominated in U.S. dollars or other currencies. The Latin American Bond Fund may invest in fixed-income and floating rate debt instruments of any credit rating (including unrated securities) and may invest without limit in higher risk, below-investment grade debt securities, commonly referred to as "high yield" securities or "junk bonds." Such securities may include those that are in default with respect to the payment of principal or interest. The Adviser does not manage the Latin American Bond Fund to have a specific average portfolio maturity or duration. A Latin American company is one: (i) that is organized under the laws of, or has a principal place of business in a Latin American country; (ii) where the principal securities market on which its securities are traded is in a Latin American country; (iii) that derives at least 50% of its total revenues or profits from goods that are produced or sold, investments made, or services performed in one or more Latin American countries; or (iv) at least 50% of the assets of which are located in one or more Latin American countries. The Latin American Bond Fund may invest in companies of any market capitalization. The Latin American Bond Fund may utilize various derivative instruments and related strategies for various purposes, including, to increase or decrease exposure to a particular market, segment of the market, or security; to increase or decrease interest rate or currency exposure, or as alternatives to direct investments. The Fund may utilize derivatives with respect to individual bonds and other securities; indices and baskets of securities; interest rates; and currencies as part of its principal investment strategies and may invest in call and put options (including options on futures contracts); futures and forward contracts, and swap agreements (including total return, interest rate, credit default, and currency swaps); credit linked notes, structured notes and other related instruments. The Fund is non-diversified, which means that a significant portion of the Fund's assets may be invested in the securities of a single or small number of companies and/or in a more limited number of sectors than a diversified mutual fund. The Adviser may sell securities for a variety of reasons, such as to secure gains, limit losses, or redeploy assets into opportunities believed to be more promising, among others.