AXA WF Us Short Dur. HY Bonds I Dis $

Investment Objective The Sub-Fund seeks to achieve primarily high attractive income and secondly capital growth by investing in US high yield debt securities over a medium term period. Investment Policy The Sub-Fund is actively managed without reference to any benchmark in order to capture opportunities in US high yield debt market.The following investment decisions are undertaken after comprehensive macroeconomic and microeconomic analysis of the market:- issuer selection- sector allocation- credit curve positioning (the credit curve illustrates the relationship between the investment term and the credit yield)The Sub-Fund invests in high yield fixed or floating rate bonds primarily issued by corporates domiciled primarily in the US and with an expected life term or redemption inferior to 3 years on the basis of the asset manager anticipations. Such high return bonds have a rating lower than BBB- according to Standard & Poor's or equivalent (Moody's or other rating agencies) or are not rated.The Sub-Fund may, up to 10%, hold distressed and defaulted securities as a result of their rating downgrade, if they are considered to be consistent with the Sub-Fund's objective. These securities are expected to be sold within 6 months unless specific events prevent the Investment Manager from sourcing their liquidity.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 debt securities issued by banks, insurance companies and non-financial corporates.The selection and allocation of credit instruments is not exclusively and mechanically based on their publicly available credit ratings but also on an internal credit or market risk analysis. The Sub-Fund may invest in or be exposed to 144A securities, in a substantial way depending on the opportunity.The Sub-Fund may invest up to 10% of net assets in contingent convertible bonds (CoCos). Derivatives (including Credit Default Swaps) m

PIR compliant

No

PEA compliant

No

PEA-PME compliant

No