Benefits of investing in the AXA IM Sustainable Equity Fund

The Fund is actively managed in accordance with AXA Investment Managers' SmartBeta Equity investment philosophy. The Fund will invest in publicly traded global developed and Emerging Markets equities.

Investing in the Fund provides clients with the following significant features and benefits:

• Access to AXA IM's investment management and advisory expertise;

• Exposure to a portfolio of high quality, lower Volatility securities;

• Integrated Environmental, Social and Corporate Governance ("ESG) considerations

• Proven track record in both global developed and emerging markets equity investing;

• Diversification when employed in conjunction with other asset classes and investment styles.

Risk level

High

Investor suitability

The Fund is suitable for investors seeking an alternative to or diversification from traditional equities strategies.

About the Fund

The Fund aims to provide a superior risk adjusted return (total return divided by total risk (before fees, expenses and taxes)) greater than the return of the MSCI ACWI ex-Australia Index Net Dividend Withholding Tax (AUD) (the "Index) on a rolling six to eight year basis.

The Investment Manager will seek to achieve the investment objectives by screening the Index using proprietary screening and reweighting methodology with the goal of creating a portfolio with reduced exposure to what the Investment Manager believes to be undercompensated sources of risk in the equity market.

Specifically, the Investment Manager will evaluate all stocks in the Index according to proprietary measures of sustainable earnings growth and distress risk, as well as stock Volatility, and speculation risk. Some stocks will be eliminated from the starting universe by virtue of not passing one or more of these fundamental screens. The screening process is complemented by a reweighting methodology called PowerRankTM that seeks to address concentration risk by diversifying the portfolio's positions away from, in part, the mega cap' names in the index. Finally, the Investment Manager will use individual equities' individual ESG score (a proprietary measure of ESG integration) to adjust the stocks final weight, or to eliminate stocks from the portfolio.

The weight on any individual stock in the portfolio is therefore a function of how the stock fares in the fundamental screening process, the effect of the PowerRank process, and where available, the stock's ESG score.

In addition to the ESG integration, the Investment Manager also applies company level negative screen policies to the Fund to exclude companies from the portfolio with direct revenue from soft commodities, controversial weapons and palm oil. Further details on these policies can be found on the AXA IM website https://www.axa-im.com/en/responsible-investment/ policies-exclusions . The Investment Manager also applies a market level negative screen to the Fund to exclude all companies in the GICS tobacco sector.

The Investment Manager takes certain labour standards or environmental, social or ethical considerations into account when applying the Fund's ESG investment criteria in the process of making investment decisions.

ESG refers to the three main areas of concern developed as central factors in measuring the environmental, social and ethical impact, and corporate governance of a company or business. Within these areas are a broad set of concerns increasingly included in the extra-financial factors that figure in the valuation of equity and other investments.

Taking into account labour standards or environmental, social or ethical considerations may affect the financial performance of an investment and any such financial effect may influence our investment decisions.

The Fund aims to achieve its investment objective by investing in a diversified portfolio of long equity positions of developed and Emerging Markets companies (excluding Australia) that the Investment Manager has identified as attractive per the filtering, diversification, and ESG scoring processes described above.

How we invest your money

The Fund will invest in equities (long only), Exchange Traded Funds, American Depositary Receipts, Global Depositary Receipts and cash.

The assets of the Fund will generally be invested within the following guidelines:

• 300 to 600 securities at any point of time

• Short-term overdrafts resulting from timing differences between trade and settlement date are permitted.

• With the exception of temporary periods upon large cash inflows or withdrawals, the Fund will maintain as close to a fully invested position as possible.