AXA WORLD FUNDS A LUXEMBOURG INVESTMENT FUND ...

In particular, the data supplied by Shareholders is processed for the purpose of (i) maintaining the register of
Shareholders, (ii) processing subscriptions, redemptions and conversions of Shares and payments of dividends to
Shareholders, (iii) performing controls on late trading and market timing practices, (iv) complying with applicable antimoney
laundering rules.
The Company can delegate to another entity (the “Processors”) (the Administrative Agent, the Registrar Agent and
the Management Company) the processing of the Personal Data, in compliance and within the limits of the applicable
laws and regulations.
Each Shareholder has a right to access his/her/its Personal Data and may ask for a rectification thereof in cases
where such data is inaccurate and incomplete. In relation thereto, the Shareholder can ask for a rectification by letter
addressed to the Company.
The Shareholder has a right of opposition regarding the use of its Personal Data for marketing purposes. This
opposition can be made by letter addressed to the Company.
The Shareholder's personal data shall not be held for longer than necessary with regard to the purpose of data
processing observing legal periods of limitation.
Shareholders
XV - TAXATION
Shareholders and prospective Shareholders should consult their professional advisers on the consequences of
acquiring, holding, redeeming, transferring, selling or converting Shares under the relevant laws of the jurisdictions to
which they are subject, including any exchange control requirements. These consequences (including the availability
of, and the value of tax relief to Shareholders) will vary with the law and practice of the relevant country of citizenship,
residence, domicile or incorporation and with the personal circumstances of Shareholders.
Without prejudice to the potential application of the law dated 21 st June 2005 implementing the EU Savings Directive,
Shareholders are not subject to any capital gains, income or withholding tax in Luxembourg to the extent that they
are not domiciled, resident and do not have a permanent establishment or permanent representative in Luxembourg.
Shareholders should consult their tax adviser to determine, to what extent, if any, their jurisdiction of domicile or any
other applicable jurisdiction will make them subject to taxation. Shareholders should be aware that paid-out dividends
will usually be treated as investment income in most European countries and that conversions between Sub-Funds
may not be tax-exempt in their country of residence. The Company shall not be held responsible for any fiscal liability
incurred by Shareholders in connection with their investments in the Company.
EU Savings Directive
On 3 rd June 2003, the Council of the European Union adopted the Council Directive 2003/48/EC regarding the
taxation of savings income (the ‘‘Savings Directive’’). According to the Savings Directive, Member States are required
since 1 st July 2005 to provide to the tax authorities of another Member State details of payments of interest within the
meaning of the Savings Directive (interest, premiums or other debt income) made by a paying agent within its
jurisdiction to an individual resident in that other Member State (the ‘‘Disclosure of Information Method’’). However,
throughout the transitional period, certain Member States (Luxembourg and Austria), as well as certain non Member
States, which have signed an agreement with Member States (Switzerland, Liechtenstein, San Marino, Monaco and
Andorra) for applying similar measures to the ones included in the Savings Directive, will withhold an amount on
interest payments instead of using the Disclosure of Information Method, except if the beneficiaries of the interest
payments opt for the Disclosure of Information Method. The rate of such withholding tax is 35% from 1 st July 2011.
Such transitional period will end if and when an unanimous decision is reached by Member States. The EU Savings
Directive has been transposed into Luxembourg domestic law by the law dated 21 st June 2005 which entered into
force on 1 st July 2005.
The Company
The Company is not liable to any Luxembourg tax on profits or income. Dividends paid by the Company are not liable
to any Luxembourg withholding tax. The Company is, however, liable in Luxembourg to a tax of 0.05% per annum of
its Net Asset Value, such tax being payable quarterly in arrears on the basis of the Net Asset Value of each Sub-
Fund or Class at the end of the quarter, except those Sub-Fund or Classes which may benefit from the lower rate of
0.01%, i.e.
- the "Institutional" (considered as Institutional Investors in accordance with Luxembourg law) Sub-Funds or
Classes of Shares, or
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