AXA IM WAV ACT US Sh.Dur.HY Low Carb.A Cap $

Investment Objective The Fund's objective is to seek high income by investing in US high yield debt securities whose carbon footprint is at least 30% lower than that of the ICE BofA US High Yield Index (Benchmark). As a secondary extra-financial objective, the water intensity of the portfolio aims at being at least 30% lower than the Benchmark. Investment Policy The Fund is actively managed and references the Benchmark by seeking to achieve its extra-financial objectives.The Manager and the Sub-Investment Manager have full discretion over the composition of the Fund's portfolio and may take exposure to companies, countries or sectors not included in the Benchmark, even though the Benchmark constituents are generally representative of the Fund's portfolio. The Manager and the Sub-Investment Manager consider carbon footprint and water intensity in the securities selection process and portfolio construction in addition to more traditional credit and financial analysis. The deviation from the Benchmark is likely to be significant.The Manager and the Sub-Investment Manager select investments by applying a 2-step approach: 1/ analysing carbon intensity and water intensity data to ensure that the average of each of the KPIs (key performance indicators) carbon intensity and water intensity calculated at Fund's level is at least 30% better than that calculated for the Benchmark, followed by the application of AXA IM's Sectorial Exclusion Policies and ESG Standards Policies with the exception of index derivatives and underlying eligible UCIs, as described in the documents available on the website: https://www.axa-im.com/responsible-investing/sector-investment-guidelines. The Manager and the Sub-Investment Manager also applies Paris aligned Benchmark (PAB) exclusions as defined in the Benchmark Regulation Delegated Regulation (CDR (EU) 2020/1818), as further described in details in the Supplement and the SFDR Annex and 2/ economic, valuation, technical analysis of the markets

PIR compliant

No

PEA compliant

No

PEA-PME compliant

No