AXA WF-Global Str.Bonds A Dis GBP H/  LU2340110498  /

The Sub-Fund investment objective is to seek performance by investing in corporate and government bonds and money market instruments issued worldwide over a medium term period. The Sub-Fund is actively managed without reference to any benchmark in order to capture opportunities in global corporate and government bonds issued worldwide. The following investment decisions are undertaken after comprehensive macro and microeconomic analysis of the market: - asset allocation across different types of bonds - duration positioning (duration measures, in number of years, the portfolio's sensitivity to interest rate variations) - geographical allocation - issuer selection The Sub-Fund invests mainly (at least two-third of its net assets under normal circumstances) in debt securities (fixed and floating rate investment grade and sub-investment grade transferable debt securities and/or high yield), including inflation-linked bonds, and money market instruments issued by governments and corporations located anywhere in the world, including emerging markets. The Sub-Fund may invest up to 100% of net assets in debt securities that are rated Sub-Investment Grade or if unrated, deemed to be so by the Investment Manager. The Sub-Fund may invest up to 25% of net assets in securities issued or guaranteed by a single sovereign issuer that are Sub-Investment Grade.

The Sub-Fund investment objective is to seek performance by investing in corporate and government bonds and money market instruments issued worldwide over a medium term period.