AXA WF Global High Yield Bonds I EUR Hdg

Investment Objective The Sub-Fund investment objective is firstly to seek high income and secondary capital growth by investing in a broadly international high yield corporate debt securities over a long term period. Investment Policy The Sub-Fund is actively managed in order to capture opportunities in international high yield corporate debt market, primarily investing in securities that are part of the ICE BofA Developed Markets High Yield Constrained benchmark index (the "Benchmark") universe. As part of the investment process, the Investment Manager has broad discretion over the composition of the Sub-Fund's portfolio and can take, based on its investment convictions, exposure to companies, countries or sectors not included in the Benchmark or take different positioning in terms of duration, geographical allocation and/or sector or issuer selection compared to the Benchmark, even though the Benchmark constituents are generally representative of the Sub-Fund's portfolio. Thus, the deviation from the Benchmark is likely to be significant.The following investment decisions are undertaken after comprehensive macroeconomic and microeconomic analysis of the market:- sector allocation- geographical allocation- credit curve positioning (the credit curve illustrates the relationship between investment term and credit yield)- issuer selection- instrument selectionThe Sub-Fund invests mainly in high yield fixed or floating rate bonds issued mainly by US and European private companies. Such high return bonds have a rating lower than BBB- according to Standard & Poor's, or equivalent rating (Moody's or any other rating agency), or are not rated.The total assets of the Sub-Fund may be invested in or exposed to callable bonds. The Sub-Fund may also invest up to 25% of net assets in subordinated debts issued by banks, insurance companies and non-financial corporates.The Sub-Fund may, up to 10%, hold distressed and defaulted securities as a result of their rating downgrade, if t

PIR compliant

No

PEA compliant

No

PEA-PME compliant

No