AXA IM Glb Infl-Lnkd Bd Opprtnts UCITS ETF USD A

The Fund is actively managed in reference to the Bloomberg World Government Inflation 1-10 year Total Return Index USD Hedged (the Benchmark) in order to capture opportunities in the inflation-linked bond market. The Fund will invest at least 50% of its net assets in inflation-linked bonds issued by governments in the OECD. The remaining part of the portfolio may be invested in bonds issued by governments in the OECD that are not inflation-linked in order to reduce the Fund's exposure to inflation-linked bonds in anticipation of periods of lower inflation. The Fund may invest up to 100% in sovereign bonds (i.e. bonds issued by a national government).