The increased interest rate and the deteriorating economy have eroded the value of the mortgages. We work to get the borrowers to add collateral. Unfortunately, they have not always been possible. In those cases where the borrowers no longer meet our covenants, we have the opportunity to act. In these cases, we have realized the mortgages and are the owners of both properties and companies.
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Investing in mutual funds always involves a risk. The value of your investment can go up and down depending on factors that affect the market including interest rates. Historical returns are not an indicator of future returns. Investors may lose part or all of the invested amount. For more information about risks, read more in the funds' fact sheets and general conditions.
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