Alternative State Contribution Pension Mutual Fund

Fond Investment Strategy

The fund is established for making investments with the state contribution amounts paid for the participants.

The fund does not aim at earning interest yield by any means.

The fund invests at least 75% of the fund portfolio in lease certificates and/or non-interest bearing borrowing instruments issued in TRY by the Undersecretariat of Treasury.

Additionally, the fund can also invest in the shares within BIST participation index, participation accounts in TRY, borrowing instruments issued by banks provided that they shall be traded in stock exchange market and lease certificates issued by asset leasing firms having banks as the source entity, up to the limits specified in the relevant legislation.

The fund aims at obtaining lease certificate income, dividend income and capital gain.

Money Market and Capital Market Instruments to Which the Fund's Portfolio is Allocated

Following restrictions shall be observed for Fund management, with the provisions of the relevant Directive being reserved.

ASSET TYPE	MINIMUM %	MAXIMUM %
Lease Certificates/ No-Interest Borrowing Instruments in TRY Issued by Undersecretariat of Treasury	75	100
No-Interest Bearing Borrowing Instruments in TRY Issued by Banks which are Traded in Stock Exchange Market + Lease Certificates Issued by Asset Leasing Firms, Having Banks as The Source Entity + Turkish Private Sector Borrowing Instruments with No-Interest Bearing + Participation Account in TRY.	0	15
Shares in BIST Participation Index	0	15

Potential Risks

The fund portfolio mainly consists of lease certificates in TRY issued by the Undersecretariat of Treasury and share certificates included in BIST participation share. Though limited, the fund may be affected by the changes in share market The fund is exposed to market, firm and liquidity risks.

Fund management uses diversification for risk protection and risk minimization is aimed through risk diversification.

Benchmark

96% IIMA Lease Certificate Indices (Public) + 1% BIST Participation Index + 3% IIMA Monthly Profit Share Index (TRY)

Other Informations

Please click here to view the By-Law of AXA Alternative Contribution Fund
Please click here to view the Prospectus regarding AXA Alternative Contribution Fund Prospectus
Please click here to view the Alternative Contribution Fund Introductory Brochure
Please click here to view the Public Disclosure Form