Dollar Cost Averaging is an investment strategy. Although not for everyone, it can work to your advantage whether the market is declining or on the rise. It means investing the same dollar amount in the same investment at regular intervals (i.e. monthly, quarterly, etc.). By doing this you are buying more shares when the market is down and less shares when it is up. The result is that the average amount you pay for each share generally will be lower that the average price per share during the same period of time.

Although dollar cost averaging can not ensure you a profit nor can it protect your from a loss in declining markets, it may help reduce your loss.

If you decide to use Dollar Cost Averaging:

1. Choose an amount you are willing to invest at regular intervals for a long period of time that you feel comfortable with.

2. Decide how frequently you are going to invest; biweekly, monthly, quarterly, etc.

3. Continue your investment strategy regardless of market conditions while maintaining a long-term perspective and do not allow the day-to-day market fluctuations to influence you.

Disclosure Such a plan involves continuous investment in securities regardless of fluctuating prices and does not guarantee profitability. The investor should consider his/her ability to continue investing through periods of low price levels.

Concentration may lead to greater price volatility. A program of regular investing does not assume profit or protect against depreciation in a declining market. You should evaluate your ability to continue in such a program in view of the possibility that you may have to redeem fund shares in periods of declining share prices as well as in periods of rising prices.