Mutual funds and closed-end funds also are required to have statements of additional information (SAIs).  Although money market funds are not required to provide investors with the SAI, they must give investors the SAI upon request and without charge.

The SAI conveys information about the fund that is not necessarily needed by investors to make an informed investment decision, but that some investors find useful.  The SAI affords the fund an opportunity to expand discussions of the matters described in the prospectus.  The SAI generally includes the fund’s financial statements and information or additional information about, the history of the fund, some of the fund policies such as on borrowing and concentration policies, officers, directors and persons who control the fund, investment advisory and other services, brokerage commissions, tax matters, and performance measures, such as, average annual total return.

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