Emerging Markets Debt

Risks: Investing in foreign denominated and/or domiciled securities may involve heightened risk due to currency fluctuations, and economic and political risks. These risks may be enhanced in emerging and frontier markets. Investing in the bond market is subject to certain risks including market, interest rate, issuer, credit, and inflation risk. High-yield, lower-rated, securities involve greater risk than higher-rated securities. Derivatives may be subject to certain risks such as leveraging, liquidity, interest rate, credit, counterparty, management and the risk of mispricing or improper valuation. William Blair integrates financially material environmental, social, and governance (ESG) factors alongside traditional financial metrics in our fundamental research as part of the holistic assessment of a company’s risks and opportunities. Individual securities may not perform as expected or a strategy used may fail to produce its intended result. Different investment styles may shift in and out of favor depending on market conditions. Diversification does not ensure against loss.

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