# Risk and reward profile
## Lower Risk	Higher risk

## Potentially lower reward	Potentially higher reward
| 1 | 2 | 3 | 4 | 5 | 6 | 7 |
| --- | --- | --- | --- | --- | --- | --- |


## Historical data, such as that used to calculate the synthetic indicator, is not a reliable indicator of the future risk profile of the Fund.

## The risk category associated with this Fund is not guaranteed and may shift over time.

## The lowest risk category does not mean "risk-free".

## Why is this Sub-Fund in this category?
The capital of the Fund is not guaranteed. It is invested on the markets and/ or uses techniques or instruments that may be subject to rapid and significant fluctuations, which could lead to sizeable gains or losses.

## The risk indicator of the Fund is representative of its diversified exposure to the equity, bond and money markets.

## Are there any other particular Risks?

## Counterparty risk: Risk of bankruptcy or default by a counterparty of the Fund, which may lead to a default on payment or delivery.

## Benchmark

## The composite benchmark is as follows: 90% of the FTSE EPRA/NAREIT Eurozone Capped (10%) net Total Return and 10% of the FTSE EPRA/NAREIT Global Developed Index net Total Return.
The FTSE EPRA Eurozone Capped and FTSE EPRA Global Developed Index, reinvested net dividends, are part of the EPRA/NAREIT Global Real Estate Index Series. The FTSE EPRA Eurozone Capped index is made up of the main stock-market capitalisations in the real estate sector of the eurozone. The FTSE EPRA Global Developed Index is made up of the main stock-market capitalisations in the real estate sector in the developed countries.

## The composition of these indices is available on the website: www.epra.com.

## Reference currency of the Fund:

## Reference currency of the Fund: Euro.

## Investment Horizon

## This UCITS may not suit investors who are seeking to withdraw their investments within 5 years.

## Processing of subscription and redemption orders

## Orders for redemption, subscription orders and exchanges between share classes C and D must be placed with the custodian each business day before
12.00 (CET) and are executed on the basis of the next net asset value. The attention of shareholders is drawn to the fact that additional delays in processing may occur due to the existence of intermediaries such as a financial advisor or distributor. The net asset value of this UCITS is calculated on a daily basis.

## Liquidity risk: Risk of encountering difficulties in buying or selling the Fund assets.

## REAL ASSETS
AXA Aedificandi

Translation (ENDE, 2022-10-01):
# Risiko- und Ertragsprofil
## Niedrige Risiken	Hohe Risiken

## Potenziell niedrigere Erträge	Potenziell höhere Erträge
| 1 | 2 | 3 | 4 | 5 | 6 | 7 |
| --- | --- | --- | --- | --- | --- | --- |


## Historische Daten, die z. B. zur Berechnung des synthetischen Indikators verwendet werden, können nicht als verlässlicher Hinweis auf das zukünftige Risikoprofil der OGAW herangezogen werden.

## Die Risikokategorie, die diesem OGAW zugeordnet ist, wird nicht garantiert und kann sich im Laufe der Zeit ändern.

## Die niedrigste Kategorie ist nicht gleichbedeutend mit "risikolos".

## Warum ist dieser Teilfonds in dieser Kategorie?
Für den OGAW gilt keine Kapitalgarantie. Er investiert in Märkte und/ oder nutzt Techniken oder Instrumente, die raschen und erheblichen Schwankungen ausgesetzt sein können, wodurch hohe Gewinne oder Verluste entstehen können.

## Der Risikoindikator des OGAW steht stellvertretend für sein diversifiziertes Engagement an Aktien-, Anleihen- und Geldmärkten.

## Erhebliche Risiken, die im Risikoindikator nicht berücksichtigt sind

## Kontrahentenrisiko: Risiko, dass ein Kontrahent des OGAW insolvent wird oder ausfällt, was zu einem Zahlungs- oder Lieferausfall führen kann.

## Liquiditätsrisiko: Risiko des OGAW, bei Kauf oder Verkauf seiner Anlagen Schwierigkeiten zu verzeichnen.

## REAL ASSETS
AXA Aedificandi