Fund Description

The fund was incepted in September 1991 and is managed by Merrill Lynch Investment Managers. The fund seeks long-term capital appreciation by investing primarily in Latin American equity and debt securities. The fund tries to achieve its goals by investing, under normal circumstances, at least 65% of its assets in a portfolio of equity and debt securities of companies located in Latin American countries. The fund can invest in securities denominated in the currencies of Latin American countries or in other currencies. Under most circumstances the fund's investments will be denominated primarily in foreign currencies. Dividends and capital gains are distributed annually.