AXA IM FIIS US High Yield B/BB A EUR Hdg

Investment Objective The investment objective of the Sub-Fund is to seek high income and long-term growth, in USD, from an actively managed high yield bonds portfolio by principally investing in sub-investment grade securities. Investment Policy The Sub-Fund is actively managed in order to capture opportunities in the US sub-investment grade corporate bond market primarily investing in securities that are part of the benchmark ICE BofA US High Yield B BB Constrained Index (the "Benchmark"). 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 Sub-Fund mainly invests in sub-investment grade corporate bonds also named high yield bonds that are issued by US companies denominated in USD. The Sub-Fund does not invest in securities rated CCC+ or below by Standard & Poor's or equivalent rating by Moody's or Fitch. Ratings are based on the lower of two ratings or the second highest of three ratings depending on how many ratings are available. If securities are unrated, they must be judged equivalent to those levels by the Investment Manager. However, the Sub-Fund may, and up to 3%, hold bonds that have been downgraded after purchase to a rating CCC+ or below by Standard & Poor's or equivalent rating, even counting as so called Distressed or Defaulted Securities, if, in the opinion of the Investment Manager this is in the best interests of the investors and consistent with the Sub-Fund's investment objective. If these assets exceed 3% of the Sub-Funds' net assets, the part exceed

PIR compliant

No

PEA compliant

No

PEA-PME compliant

No