AXA WORLD FUNDS A LUXEMBOURG INVESTMENT FUND ...

At the Shareholder’s request, the Company may elect to pay redemption proceeds in kind, having due regard to all
applicable laws and regulations and to all shareholders’ interest. In such case of payment in kind, the auditor of the
Company shall deliver, if applicable, an audit report in accordance with applicable laws. Any costs incurred in
connection with a redemption in kind of securities shall be borne by the relevant shareholder.
Seed Money
Shares of a Sub-Fund may be held (i) by a French fund in which AXA Investment Managers is a majority shareholder
(hereinafter the "AXA IM Fund") and/or (ii) by companies which are part of the AXA group of companies and/or (iii) by
investment funds which are managed by investment management companies in which AXA IM group directly or
indirectly holds a shareholding ("AXA IM Group Managed Funds") for the purposes of building a track record or a
specific marketing action on the Sub-Fund.
AXA IM Fund and/or companies of the AXA group and/or AXA IM Group Managed Funds may, at any time, choose
to redeem their Shares in the Sub-Fund which may result in a material decrease in the total assets of the Sub-Fund
and/or a restructuring of the Sub-Fund including but not limited to restructuring causing the winding up of the Sub-
Fund or its merger with another fund. Specific rules have been established by the Management Company with a view
to preserve an equal treatment between the Shareholders of the Sub-Fund and will be applied in such case.
The foregoing does not prevent shares of a Sub-Fund from being held by other investors including external seed
investors.
Suspension of the Calculation of the Net Asset Value and the Offering, Redemption and Conversion of
Shares
The Company may suspend temporarily the determination of the Net Asset Value, and the issue, redemption and
conversion of the Shares of the relevant Sub-Fund
a during any period when any Regulated Market, stock exchange in an Other State or any Other Regulated
Market on which a material part of a Sub-Fund’s investments for the time being are quoted, is closed,
otherwise than for ordinary holidays, or during which dealings are substantially restricted or suspended;
b during the existence of any state of affairs which constitutes an emergency as a result of which disposal or
valuation of investments of the relevant Sub-Fund by the Company is not reasonably practicable; or
c during any breakdown in the means of communication normally employed in determining the price or value of
any of the investments attributable to any Sub-Fund or the current prices on any market or stock exchange; or
d during any period when remittance of moneys which will or may be involved in the realisation of, or in the
payment for, any of the investments attributable to any Sub-Fund is not possible; or
e during any period where in the opinion of the Directors there exist unusual circumstances where it would be
impracticable or unfair towards the Shareholders to continue dealing with Shares of any Sub-Fund; or
f following the suspension of the calculation of the net asset value per share/unit the issue, redemption and/or
the conversion of shares/units at the level of a master fund in which a Sub-Fund invests in its quality as feeder
fund of such master fund;
g in case of a decision to liquidate the Company, on or after the day of publication of the first notice convening
the general meeting of Shareholders for this purpose.
The Company shall cease the issue, allocation, conversion, repurchase and redemption of the Shares forthwith upon
the occurrence of an event causing it to enter into liquidation or upon the order of the Regulatory Authority.
Shareholders having requested a conversion repurchase or redemption of their Shares will be notified in writing of
any such suspension within seven days of their request and will be promptly notified upon termination of such
suspension.
The suspension as to any Sub-Fund will have no effect on the calculation of the Net Asset Value and the issue,
conversion and redemption of the Shares of any other Sub-Fund.
Reporting
All conversions and redemptions will be acknowledged by a contract note.
Institutional and Professional Investors
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