Outlook 2015

Eric Chaney, Head of Research and Chief Economist AXA Group

Franz Wenzel, Chief Strategist

Paris, January 13, 2015 – Eric Chaney, Chief Economist at AXA Group and Head of Research at AXA Investment Managers, and Franz Wenzel, Chief Strategist at AXA Investment Managers, comment on the macroeconomic outlook for 2015. The sharp decline of the oil price implies stronger than expected growth and is a welcome support for risky assets. – Company website: www.axa-im.com