AXA IM FIIS US Sh.Dur. High Yield B Cap GBP

Investment Objective The Sub-Fund is actively managed without reference to any benchmark and seeks to generate income by investing in high yield debt securities (subinvestment grade corporate bonds) denominated in USD while seeking to avoid the risk of defaults. Investment Policy The Sub-Fund is actively managed in order to capture opportunities in US high yield debt markets.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 invest up to 10% of net assets in contingent convertible bonds (CoCos). The Sub-Fund may also, and up to 10%, hold Distressed and Defaulted Securities as a result of holding bonds whose rating would have been downgraded to be defaulting or distressing, if, in the opinion of the Investment Manager, such bonds are consistent with the Sub-Fund's investment objective.The Sub-Fund may also invest up to one third of its net assets in Money Market Instruments, money market funds and bank deposits.The Sub-Fund is a financial product that promotes environmental and/or social characteristics within the meaning of article 8 of the Regulation (EU) 2019/2088 of 27 November 2019 on sustainability-related disclosures in the financial sector. The Unit Class aims at hedging the foreign exchange risk resulting from the divergence between the reference currency of the Sub-Fund and the currency of this Unit Class by using derivatives in

PIR compliant

No

PEA compliant

No

PEA-PME compliant

No