Fond Investment Strategy
The fund does not aim at earning interest, but capital income, therefore the entire fund portfolio is invested in all or some of the asset types indicated in Article 5 of Directive on Private Pension System.
The fund can invest in money and capital market instruments without interest, such as lease certificates issued by Undersecretariat of Treasury and similar, provided that these shall be traded in Borsa Istanbul stock exchange market. Moreover, participation accounts and share certificates traded with BIST participation index are among investible instruments.
The fund can invest in no-interest private sector borrowing instruments ,provided that "investible credit note" is met (credit note is "S&P BBB" or equivalent for others).
The fund can also invest in other money and capital market instruments subject to the limitations set forth in Article 8 of Fund By-law.
Asset distribution within fund portfolio, including share certificate investments, is determined dynamically in line with the fund manager's expectations and By-law constraints.
Money and Capital Market Instruments Included in Fund Portfolio
The fund’s management must comply with the following restrictions, save for the provisions of the relevant Regulations.
|ASSET TYPE||MINIMUM %||MAXIMUM %|
|Shares in BIST Participation Index||0||50|
|Lease Certificates in TRY Issued by Undersecretariat of Treasury||0||100|
|Turkish Private Sector Lease Certificates||0||100|
|Turkish Private Sector No-Interest Borrowing Instruments||0||50|
|Participation Account (TRY - FX)||0||25|
|Gold and/or Precious Metals and Capital Market Instruments Based on the Foregoing||0||20|
|No-Interest Investment Fund Shares||0||20|
|Money and Capital Market Instruments Issued by Venture Capital Investment Trusts / Venture Capital Investment Fund Participation Shares ||0||20|
The fund portfolio mainly consists of lease certificates issued by Undersecretariat of Treasury and share certificates included in BIST participation index. Additionally, investments can be made in TRY or FX participation accounts. Fund management assumes inflation, market and FX risks. Inflation rates and changes in share certificate market influence the fund's yields. The fund is exposed to credit and liquidity risks in connection with the investments made in public and private no-interest lease certificates and capital market instruments compliant with participation banking principles and stock certificates. Fund management uses diversification and maturity & rate adjustments for risk protection and risk minimization is aimed through risk diversification.
68% IIMA Lease Certificate Indices (Public) + 25% BIST Participation Index + 2% IIMA Lease Certificate Indices (Private) + 5% IIMA Monthly Profit Share Index (TRY)
- Please click here to view the By-Laws of AXA Alternative Flexible Growth Fund
- Please click here to view the Prospectus regarding AXA Alternative Flexible Growth Fund
- Please click here to view the AXA Flexible Alternative Growth Fund Introductory Brochure
- Please click here to view the Public Disclosure Form