AXA WF-Global Infl.Sh.D.Bd.I Cap GBP H/  LU1353952697  /

The Sub-Fund's investment objective is to seek performance by investing mainly in short duration inflation-linked bonds issued in OECD countries, over a medium term period. The Sub-Fund is actively managed in reference to the Bloomberg World Govt Inflation-Linked 1-5 Yrs Hedged USD benchmark index (the "Benchmark") in order to capture opportunities in the short duration inflation-linked bonds market. The Sub-Fund invests at minimum one third of its net assets in the components of the Benchmark. Depending on its investment convictions and after comprehensive macroeconomic and microeconomic analysis of the market, the Investment Manager can take more active positioning in terms of duration (duration measures in numbers of years, the portfolio's sensitivity to interest rate variations), geographical allocation and/or sector or issuer selection compared to the Benchmark. Thus, the deviation from the Benchmark is expected to be significant. However, in certain market conditions (high credit market volatility, turmoil…), the Sub-Fund's positioning on the above indicators may be close to the Benchmark.

The Sub-Fund's investment objective is to seek performance by investing mainly in short duration inflation-linked bonds issued in OECD countries, over a medium term period.