AXA WORLD FUNDS A LUXEMBOURG INVESTMENT FUND ...

Appendix 5: AXA WORLD FUNDS – FRAMLINGTON EUROZONE
Name of the Sub-Fund AXA WORLD FUNDS – FRAMLINGTON EUROZONE
(Previously named AXA World Funds – Euro Core Equities)
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 Euro 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 in large,
medium and small capitalisations domiciled in Euro zone.
The Sub-Fund will invest at all time at least 66% of the total assets of the Sub-Fund in equities issued by
companies which are domiciled or carry out a preponderant part of their economic activity in the
Eurozone and not more than 33% of its assets in companies not based in such area.
The Sub-Fund may invest not more than one third of its assets in Money Market Instruments and up to
10% of its assets in convertible and straight bonds.
This strategy combines a bottom up approach with a thematic research approach.
There is no formal restriction on the proportion of the Sub-Fund's assets that can be invested in and/or
exposed to any one particular market.
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.
Underlying Investment Objective for SolEx Share Class:
The underlying investment objective of the SolEx Share Class is, as for the other Share Classes of the
Sub-Fund, to achieve long-term capital growth by investing in large, medium and small capitalisations
domiciled in Eurozone, while, only in the case of the relevant SolEx Share Class, systematically and
partially hedging the impact of a sudden and material decrease of European equity indices on the
relevant SolEx Share Class. With respect to the SolEx Share Class only, the systematic and partial
hedge of the portfolio exposure to European equity market will be implemented through the active
management of an equity index derivatives overlay.
Use of Derivatives:
In order to seek to achieve the underlying investment objective of the SolEx Share Class, the Sub-Fund
will use financial derivatives instruments. The wide range of financial derivatives instruments that can be
used by the Sub-Fund includes total return swaps (i.e. a bilateral financial contract in which one
� Such paragraph shall take effect as from 1 st October 2012.
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