Risk disclosure

Bank deposits

A stated deposit rate may be fixed for a specified term. Access can be restricted and early withdrawal may not be possible. Deposit protection depends on the institution, account, depositor and jurisdiction; it must not be assumed.

Capital risk

The value of bonds and other investments may fall as well as rise. You may receive back less than invested, including if an issuer defaults.

Credit and issuer risk

An issuer or counterparty may fail to make interest, income or principal payments. Credit assessments can change and are not guarantees.

Interest-rate and market risk

Market values can change as interest rates, inflation expectations, liquidity and market conditions change. Longer maturities may be more sensitive.

Currency risk

Where a product is denominated in a different currency from your future spending, exchange-rate movements can increase or reduce your effective return.

Liquidity and access risk

A market may not be available when you wish to sell, or a sale may occur below the amount invested. Fixed deposits may restrict access until maturity.

Jurisdiction, tax and legal risk

Rules, tax treatment and protections differ and may change. Cross-border arrangements can involve more than one legal or tax system.

No guaranteed outcome

Past performance is not a reliable indicator of future results. No universal statement of guaranteed return, capital protection or product acceptance should be inferred from this website.