Broad alternatives = Property + Equities (unlisted) + Other loans & mortgages + Structured notes + Collateralised securities + CIUs | Direct private markets = Property + Equities (unlisted) + Other loans & mortgages | CIUs = Collective Investment Undertakings | Source: Solvency II Wire Data | AXA Group (f9c38987-a99c-4d86-b352-fc0cda5cbfb0)