AXA WORLD FUNDS A LUXEMBOURG INVESTMENT FUND ...
AXA WORLD FUNDS A LUXEMBOURG INVESTMENT FUND ...
AXA WORLD FUNDS A LUXEMBOURG INVESTMENT FUND ...
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e kept in the specific account opened for each co-managed entity outside the co-management arrangement and<br />
through which subscriptions and redemptions must pass. The possibility to allocate substantial subscriptions and<br />
redemptions to these specific accounts together with the possibility for the Company or its appointed agents to<br />
decide at any time to terminate the co-management arrangement permit the Company to avoid the readjustments of<br />
the assets of its Sub-Funds, if these readjustments are likely to affect the interest of the Company or the Sub-Funds<br />
and of their Shareholders.<br />
If a modification of the composition of the Company or one or several Sub-Fund’s assets resulting from redemptions<br />
or payments of charges and expenses peculiar to another co-managed entity (i.e. not attributable to the Company or<br />
the Sub-Fund concerned) is likely to result in a breach of the applicable investment restrictions, the relevant assets<br />
shall be excluded from the co-management arrangement before the implementation of the modification in order for it<br />
not to be affected by the ensuing adjustments.<br />
Co-managed Assets shall only be co-managed with assets intended to be invested pursuant to investment objectives<br />
identical to those applicable to the co-managed Assets in order to assure that investment decisions are fully<br />
compatible with the investment policy of the Sub-Funds. Co-managed Assets shall only be co-managed with assets<br />
for which the Custodian is also acting as custodian in order to ensure that the Custodian is able, with respect to the<br />
Company or its Sub-Funds, to fully carry out its functions and responsibilities pursuant to the Law of 2010. The<br />
Custodian shall at all times keep the Company's assets segregated from the assets of other of co-managed entities<br />
and shall therefore be able at all time to identify the assets of the Company and of each Sub-Fund. Since comanaged<br />
entities may have investment policies which are not strictly identical to the investment policy of a Sub-Fund,<br />
it is possible that, as a result, the common policy implemented may be more restrictive than that of that Sub-Fund.<br />
The Company may decide at any time and without notice to terminate the co-management arrangement.<br />
Shareholders may at all times contact the registered office of the Company to be informed of the percentage of<br />
assets which are co-managed and of the entities with which there is such a co-management arrangement at the time<br />
of their request. Annual and semi-annual reports shall state the co-managed Assets' composition and percentages.<br />
IX – SHARES<br />
The minimum share capital of the Company is EUR 1,250,000. The share capital of the Company varies<br />
automatically with the issue and redemption of Shares.<br />
Shares are issued without par value. All Shares are issued as fully paid Shares and have equal rights and privileges,<br />
in particular to participate in the profits and results of the Company. Fractions of registered Shares will be issued to<br />
one thousandth of a Share. Each whole Share entitles the holder thereof to one vote in any meeting of Shareholders<br />
of the Company, irrespective of the Net Asset Value of the Share.<br />
Shares carry no preferential subscription, conversion or exchange rights. Shares are freely transferable except that<br />
the Directors of the Company may in accordance with the Articles restrict the ownership of Shares by certain<br />
persons.<br />
At present no application has been made for the Shares to be listed on the Luxembourg Stock Exchange. However<br />
the Directors of the Company reserve the right to list later on Shares of any Class on the Luxembourg or other Stock<br />
Exchange.<br />
Form of Shares<br />
Shares of the Company are issued in registered form only and are usually issued in non-certificated form.<br />
The ownership of non-certificated Shares is evidenced by an entry in the register of Shareholders. Following an initial<br />
application, each Shareholder will be advised of a Personal Account Number. This number should be quoted in all<br />
further communication.<br />
Non-certificated Shares enable Shareholders to request conversions or redemptions on any Business Day without<br />
delay and consequently the Company recommends investors to maintain their Shares in uncertified form.<br />
Title to certificated Shares is recorded by an entry on the register of Shareholders and in addition is evidenced by the<br />
issue of Share certificates. However, Share certificates are only available upon request at the time of application.<br />
Classes of Shares<br />
The Directors are authorised without limitation to issue Shares of any Class at any time within each Sub-Fund. Upon<br />
creation of new Classes, the Prospectus will be updated accordingly.<br />
There are currently 10 categories of Classes of Shares available in the Company:<br />
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