AXA WF Asian Short Duration Bonds

Important Note to Hong Kong Investors:

• This is a sub-fund of AXA World Funds which is a Luxembourg based open-ended investment company with several separate sub-funds (individually the "Sub-Fund" and collectively the "Sub-Funds") each with different investment objectives and risks profile.
• The Sub-Fund seeks performance of your investment, in USD, from an actively managed Asian short duration bond portfolio.  As such, the Sub-Fund is exposed to the risks associated with concentrating investments in the region.
• This Sub-Fund may invest in emerging market securities and therefore may involve a greater degree of risk than generally associated with similar investments in major securities markets, due to political and regulatory factors.
• This Sub-Fund may hold some of the high yield securities in the portfolio which may involve increased credit and market risk.
• This Sub-Fund may subject to interest rate, credit, counterparty, volatility and liquidity, rating downgrade, sovereign debt, valuation, reliability of credit ratings, contingent convertible bonds (Cocos), reinvestment, extension, foreign exchange and currency, and ESG risks.
• This Sub-Fund may use derivative instruments and may subject the investor to additional risks including counterparty/credit, volatility, valuation, leverage, liquidity, and over-the-counter transaction risks.
• For the Distribution Shares, investors should be aware that dividends may be paid directly or effectively out of the Sub-Funds’ capital at the Management Company's discretion. This may result in an immediate decrease in the net asset value per share of the Distribution Shares. Payment of distribution out of the Sub-Funds’ capital amounts to a return or withdrawal of part of an investor's original investment or from any capital gains attributable to that original investment, which may further decrease the net asset value per share and may also reduce the capital available for the Sub-Funds for future investment and capital growth.
• Investors should not make investment decision on the basis of this document alone. The offering documents of the Fund should be read for further details including risk factors.