AXA WORLD FUNDS A LUXEMBOURG INVESTMENT FUND ...

Appendix 3: AXA WORLD FUNDS – FRAMLINGTON GLOBAL ENVIRONMENT
Name of the Sub-Fund AXA WORLD FUNDS – FRAMLINGTON GLOBAL ENVIRONMENT
(Previously named AXA World Funds – Clean Tech)
Management Company AXA Funds Management S.A. (Luxembourg)
Investment Manager AXA Investment Managers Paris
Sub-delegation None
Promoted by AXA Investment Managers
Objectives and Investment Policy
Investment objective:
The objective of the Sub-Fund is to achieve long term capital growth.
Typical investors would seek long-term capital growth measured in EUR from an actively managed
portfolio of listed equity, equity related securities and derivatives instruments.
Investment policy:
The Investment Manager will seek to achieve the objectives of the Sub-Fund by investing permanently at
least 70 % of the total assets of the Sub-Fund in international equities and equity related instruments
issued by all cap companies worldwide engaged in the global market of environment in the sector of
energy, waste, water, industrial process and safety or any other relevant sector.
The Sub-Fund may also invest up to 30% directly or through the investment in other UCITS and/or UCIs
in Money Market Instruments. Investment in non-listed securities, together with transferable securities
and money market instruments other than those referred to in article 41(1) of the Law of 2010 shall not
exceed 10 % of the net assets of the Sub-Fund.
This strategy combines a "bottom-up" research process which aims at selecting securities and to a lesser
extent a "top-down" approach in view of thematic asset allocation.
The Sub-Fund will look for technology-based systems, products or services in environmental markets,
particularly those of alternative energy and energy efficiency, water treatment and pollution control, and
waste technology and resource management.
The Sub-Fund will invest not more than 10% of its net assets in units of UCITS and/or other UCIs � .
For efficient portfolio management purposes, this Sub-Fund may use derivative instruments within the
limits set forth in the section “Investment Restrictions”.
The Reference Currency of the Sub-Fund is EUR.
Risk Profile
This Sub-Fund is mainly invested in equity for which there is high risk of invested capital loss.
Special Risk Consideration
Risk linked to investments in emerging markets: Legal infrastructure, in certain countries in which
investments may be made, may not provide with the same degree of investors' protection or information
to investors, as would generally apply to major securities markets (governments’ influence, social,
political and economic instability, different accounting, auditing and financial report practises). Emerging
markets securities may also be less liquid and more volatile than similar securities available in major
markets, and there are higher risks associated to transactions settlement, involving timing and pricing
issues.
� Such paragraph shall take effect as from 1 st October 2012.
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