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EQUI-VEST - AXA Equitable

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INFORMATION REGARDING THE UNDERLYING PORTFOLIOS (cont’d)<br />

Portfolio<br />

Investment<br />

Objective<br />

Seeks long-term<br />

capital appreciation<br />

Principal<br />

Investment Strategy<br />

Principal<br />

Investment Risks<br />

EQ/International ETF Portfolio<br />

Invests in exchange traded securities<br />

of other investment companies<br />

(“ETFs”) that, in turn, invest<br />

substantially all of their assets in<br />

equity securities of foreign<br />

companies. The Portfolio may invest<br />

in ETFs that invest in securities of<br />

companies of any size located in<br />

developed and emerging markets<br />

throughout the world.<br />

• Asset Class Risk<br />

• Concentration Risk<br />

• Currency Risk<br />

• Custody Risk<br />

• Derivatives Risk<br />

• Equity Risk<br />

• European Economic Risk<br />

• Focused Portfolio Risk<br />

• Foreign Securities and<br />

Emerging Markets Risk<br />

• Inactive Market Risk<br />

• Investment Company<br />

Securities Risk<br />

• Investment Style Risk<br />

• Issuer Risk<br />

• Large-Cap Company Risk<br />

• Legal Enforcement of<br />

Shareholder Rights Risk<br />

• Leveraging Risk<br />

• Liquidity Risk<br />

• Management Risk<br />

• Market Risk<br />

• Net Asset Value Risk<br />

• Opportunity Risk<br />

• Passive Investment Risk<br />

• Portfolio Management Risk<br />

• Secondary Market Trading<br />

Risk<br />

• Security Risk<br />

• Small-and Mid-Cap Company<br />

Risk<br />

• Tracking Error Risk<br />

• Trading Risk<br />

• Underlying ETF Management<br />

Risk<br />

• Valuation Risk<br />

EQ/International Growth<br />

Portfolio<br />

Seeks to achieve<br />

capital appreciation.<br />

Under normal circumstances, the<br />

Portfolio intends to invest at least<br />

80% of its net assets in the equity<br />

securities of foreign companies that<br />

the Sub-adviser believes offer the<br />

potential for above-average earnings<br />

growth. The Portfolio generally<br />

diversifies its investments among<br />

issuers located in European,<br />

Australasian and Far East (“EAFE”)<br />

markets.<br />

• Convertible Securities Risk<br />

• Currency Risk<br />

• Depositary Receipts Risk<br />

• Equity Risk<br />

• Foreign Securities and<br />

Emerging Markets Risk<br />

• Geographic Risk<br />

• Growth Investing Risk<br />

• Large-Cap Company Risk<br />

• Portfolio Turnover Risk<br />

• Small- and Mid-Cap Company<br />

Risk<br />

40

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