The CommodityRealReturn™ Strategy Fund is intended for long-term investors and an investment in the Fund should be no more than a small part of a typical diversified portfolio. The Fund's share price is expected to be more volatile than that of other funds. This Fund will typically seek to gain exposure to the commodity markets by investing in commodity-linked derivative instruments such as indexand commodity-linked "structured" notes. These instruments and commodities in general may subject the Fund to greater volatility than investments in traditional securities. Commodities and commodity-index-linked securities may be affected by changes in overall market movements, changes in interest rates, and other factors such as weather, disease, embargoes, or political and regulatory developments, as well as the trading activity of speculators and arbitrageurs in the underlying commodities.

• This Portfolio may use derivative instruments for hedging purposes or as part of its investment strategy. Use of these instruments may involve certain costs and risks such as liquidity risk, interest rate risk, market risk, credit risk, management risk and the risk that a Portfolio could not close out a position when it would be most advantageous to do so. Portfolios investing in derivatives could lose more than the principal amount invested.
• The Portfolio can invest a portion of its assets in non-U.S. securities, which can entail greater risks due to non-U.S. economic and political developments. This risk may be enhanced when investing in Emerging Markets.
• This Portfolio is non-diversified, which means it may concentrate its assets in a smaller number of issuers than a diversified Portfolio.
• This Portfolio may invest in high yield, lower-rated securities which generally involves greater risk to principal than investments in higher-rated securities.
• The Dow Jones - AIG Commodity Index is an unmanaged index composed of futures contacts on 20 physical commodities. Designed to be a highly liquid and diversified benchmark for commodities as an asset class. It is not possible to invest directly in an unmanaged index.
• In an environment where interest rates may trend upward, rising rates will negatively impact the performance of most bond Portfolios, andfixed income securities held by a Portfolio are likely to decrease in value. Bond Portfolios and individual bonds with a longer duration (ameasure of the expected life of a security) tend to be more sensitive to changes in interest rates, usually making them more volatile thansecurities with shorter durations.