An investor holds an international bond fund. Regarding the performance of the fund, which of the following statements are TRUE?
I If the foreign currency value rises against the dollar, the fund's Net Asset Value will increase
II If the foreign currency value rises against the dollar, the fund's Net Asset Value will decrease
III If the dollar falls against the foreign currency, the fund will have an inferior performance relative to dollar denominated funds
IV If the dollar falls against the foreign currency, the fund will have a superior performance relative to dollar denominated funds
Answer: I and IV