So investiert der AXA WF Subordinated Bonds F EUR Acc Fonds: The funds investment objective is to seek an annualized positive return, over the recommended holding period, in EUR, net of fees, higher than the index composed of 25% ICE BofA Euro Non-Financial Subordinated Index + 55% ICE BofA Euro Subordinated Financial Index + 20% ICE BofA Contingent Capital Index (the “Benchmark”), from an actively managed subordinated debt portfolio and aim at not exceeding a 10% annual volatility under normal market conditions. This annualized return is an objective and is not guaranteed.