AXA IM FIIS Europ.Sh. Dur. High Yield B CHF Hdg

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 European currencies while seeking to avoid the risk of defaults. Investment Policy The Sub-Fund is actively managed in order to capture opportunities in high yield European currency 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 primarily in high yield bonds denominated in a European currency and with an expected life term or redemption less than 3 years on the basis of the asset manager's expectations. Such high return bonds have a rating lower than BBB- according to Standard & Poor's (or equivalent rating by Moody's or other rating agencies) or are not rated.The Sub-Fund may also invest in Investment Grade debt securities denominated in a European currency issued by foreign corporations or governments or governmental agencies or instrumentalities.Within the limit of 200% of the Sub-Fund's net assets, the investment strategy may be achieved by direct investments and/or through derivatives, in particular by entering into Credit Default Swaps. Derivatives may also be used for hedging purposes.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 depo

PIR compliant

No

PEA compliant

No

PEA-PME compliant

No