AXA WORLD FUNDS A LUXEMBOURG INVESTMENT FUND ...

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Sub-Fund's Auditor PricewaterhouseCoopers Sàrl 400, Route d’Esch L-1471 Luxembourg Other The AXA WORLD FUNDS – GLOBAL HIGH YIELD BONDS is a Sub-Fund of AXA WORLD FUNDS. Other Sub-Funds exist for this umbrella and the assets of this Sub-Fund are independent from those of other Sub-Funds. Information about them can be found online at www.axa-im-international.com Date of publication August 2012 For this Sub-Fund, a Business Day shall be understood as a day on which banks are open all day for business in Luxembourg and in the United States of America. The value of this Sub-Fund is calculated and published daily. It is available online at www.axa-im-international.com Subscription and redemption of units in this Sub-Fund can be arranged through your adviser or distributor, in which case different subscription, redemption and conversion procedures and time limits may apply. Direct orders can also be sent to your national representative listed on our website at www.axa-im-international.com You can obtain copies of a more comprehensive document on this Sub-Fund in English (the Key Investor Information Document), as well as annual and half-yearly financial reports at any time, free of charge, by contacting us online at www.axa-im-international.com You can find other information about this Sub-Fund at www.axa-iminternational.com 258 Regulatory Authority Commission de Surveillance du Secteur Financier
Appendix 45: AXA WORLD FUNDS – GLOBAL INFLATION BONDS Name of the Sub-Fund AXA WORLD FUNDS – GLOBAL INFLATION BONDS 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 seek performance through dynamic exposure mainly to inflationlinked bonds issued in the OECD. Investment policy: The Investment Manager will seek to achieve the objectives of the Sub-Fund by investing at all time at least two thirds of its total assets in a diversified portfolio consisting of inflation-linked bonds and of any other related debt securities issued by OECD governments, corporations or public institutions worldwide. The Investment Manager may invest the remaining assets in any other debt securities which are not inflation-linked. Furthermore, the Sub-Fund may invest not more than one third of its assets in Money Market Instruments. The Sub-Fund will be managed with an interest rate sensitivity ranging from 5 to 15. The sensitivity is an indicator measuring the impact of a variation of 1% of the market interest rate on the value of the Sub- Fund. 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. Notwithstanding the limits set forth in the section "Special Investment and Hedging Techniques and Instruments" of the Prospectus, each time the Sub-Fund enters into transactions pursuant to which it will borrow bonds via repurchase agreements in order to sell them, such sales may not engage more than 10% of its net assets. For the avoidance of doubt, the transactions referred to above may not be considered as short selling within the meaning of Article 52 of the Law of 2010. For efficient portfolio management purposes, this Sub-Fund may also expose itself to such assets through the use of derivative instruments within the limits set forth in the section “Investment Restrictions”. The Sub-Fund will invest not more than 10% of its net assets in units of UCITS and/or other UCIs � . The Reference Currency of the Sub-Fund is EUR. Use of Derivatives: In order to achieve its management objectives, the Sub-Fund may in particular engage in the credit derivatives market by entering, i.a., into credit default swaps in order to sell or buy protection. A credit default swap “CDS” is a bilateral financial contract in which one counterparty (the protection buyer) pays a periodic fee in return for a contingent payment by the protection seller following a credit event of a reference issuer. The protection buyer acquires the right to sell a particular bond or other designated reference obligations issued by the reference issuer for its par value or the right to receive the difference between par value and market price of the said bond or other designated reference obligations (or some other designated reference or strike price) when a credit event occurs. A credit event is commonly defined as bankruptcy, insolvency, receivership, material adverse restructuring of debt, or failure to meet payment obligations when due. The International Swap and Derivatives Association (ISDA) has produced standardised documentation for these derivatives transactions under the umbrella of its ISDA Master Agreement. The Sub-Fund may use credit derivatives in order to hedge the specific credit risk of some of the issuers in its portfolio by buying protection. In addition, the Sub-Fund may, provided it is in its exclusive interest, buy protection under credit derivatives without holding the underlying assets. Provided � Such paragraph shall take effect as from 1 st October 2012. 259
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VISA 2012/87115-1979-0-PC L'apposit
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APPENDIX 46: AXA WORLD FUNDS - UNIV
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GLOSSARY Administrative Expenses -
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DIRECTORY Board of Directors: Mr Jo
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PART I APPENDICES RELATING TO SUB-F
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Hong Kong The Company is authorised
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Appendix 1: AXA WORLD FUNDS - FRAML
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One-off charges (3) Ongoing charges
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Date of creation of the Sub-Fund Sh
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Sub-Fund's Auditor PricewaterhouseC
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Risks of global investments: Invest
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(6) They do not include transaction
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counterparty receives the underlyin
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Tax information This Sub-Fund might
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Minimum subscriptions and maximum c
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Name of the Sub-Fund Appendix 7: AX
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Ongoing charges (6) Maximum annual
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Date of publication August 2012 Sub
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Date of publication August 2012 thr
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Investment Horizon This Sub-Fund is
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Appendix 11: AXA WORLD FUNDS - FRAM
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Date of publication August 2012 and
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Investment Horizon This Sub-Fund is
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(6) Calculated on assets in custody
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Date of publication August 2012 int
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Risks of global investments: Invest
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(3) The one-off charges shown are t
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Holders of Shares held in Euroclear
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This Sub-Fund is appropriate for in
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Date of publication August 2012 The
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All these instruments may be used a
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Minimum initial subscription Minimu
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(1) Subscriptions in USD or the equ
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(7) Calculated on assets in custody
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Name of the Sub-Fund Appendix 22: A
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Liquidity risks linked to investmen
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divided by the total Net Asset Valu
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Subscription, redemption, and conve
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Other The AXA WORLD FUNDS - FRAMLIN
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and may be subject to various types
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(4) Conversion charges: None, excep
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underlying assets. Provided it is i
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(4) Conversion charges: None, excep
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Appendix 30: AXA WORLD FUNDS - EURO
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(1) (2) Subscriptions and Holding M
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contract note. Holders of Shares he
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(or some other designated reference
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(5) Although no management fee will
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(or some other designated reference
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(5) Although no management fee will
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Minimum initial subscription Minimu
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- The Shareholder converts its Shar
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and market price of the said bond o
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Date of publication August 2012 abo
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Use of Derivatives: In order to ach
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In order to achieve its management
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Unless otherwise specifically reque
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interest, the Sub-Fund may also sel
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Appendix 57: AXA WORLD FUNDS - OPTI
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Risk Profile This Sub-Fund is inves
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annually, after the end of the rele
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documentation for these derivatives
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Date of publication August 2012 thr
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AXA I - GENERAL INFORMATION AXA is
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(ii) AXA Investment Management Inc.
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The Equity Sub-Funds: their objecti
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Furthermore, there may be an imperf
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securities dealers and listed and u
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9. Risks linked to investments in s
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eserves amount to at least ten mill
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(b) Limitations on Control (15) No
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Furthermore, the Company may resort
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VIII - POOLING OF ASSETS For the pu
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- Class “A” Shares are for all
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their reasonably foreseeable sales
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distributor information about the s
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Instructions for redemptions may be
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Institutional Investors as well as
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- the "Liquidity" Sub-Funds (the po
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c) Rights of the Shareholders and c
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� the cost of preparing and filin
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AXA WORLD FUNDS A LUXEMBOURG INVESTMENT FUND ...

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