AXA WF Global Emerging Markets Bonds I Distribution USD/  LU0375277851  /

The Sub-Fund's investment objective is to seek performance by investing mainly in the emerging market universe and to a broader extent in bonds world wide, over a long term period. The Sub-Fund is actively managed in reference to the JP Morgan EMBIG Diversified Hedged USD benchmark index (the "Benchmark") in order to capture opportunities in emerging markets debt, while limiting its credit risk. The Sub-Fund invests at minimum one third of its net assets in the components of the Benchmark. Depending on its investment convictions and after comprehensive macroeconomic and microeconomic analysis of the market, the Investment Manager can take more active positioning in terms of duration (duration measures in numbers of years, the portfolio's sensitivity to interest rate variations), geographical allocation and/or sector or issuer selection compared to the Benchmark. Thus, the deviation from the Benchmark is expected to be significant. However, in certain market conditions (high credit market volatility, turmoil…), the Sub-Fund's positioning on the above indicators may be close to the Benchmark.

The Sub-Fund's investment objective is to seek performance by investing mainly in the emerging market universe and to a broader extent in bonds world wide, over a long term period.