The AXA Pan European High Yield Bond fund offers investors access to a defensively managed portfolio of high yield credits in the European market. The strategy consists of a rigorous approach to credit selection, including a stringent analysis of the underlying company’s capital and cash flow structures as well as bondholder conditions, utilising the large and well experienced research team. The strategy has a very good track record of avoiding defaults and the fund outperformed peers through the market turbulence of 2015.